Compliance and Operational Risk Manager

Job Description:

The Compliance and Operational Risk (C&OR) Manager is responsible for engaging in activities to provide independent compliance and operational risk oversight of Front Line Unit or Control Function (“FLU/CF”) performance and any related third party/vendor relationships in alignment with the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs). As a member of an FLU or CF C&OR officer team, the C&OR Manager is accountable for proactive identification, management and escalation of compliance and operational risks through the execution of some or all of the below identified activities. This role exercises judgment and influence, and may constructively challenge FLU and CF leaders to support the CORM Program objectives, balancing business strategy with appropriate controls.

The C&OR Manager proactively engages with other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role develops and maintains a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Manager prepares materials for C&OR regulatory exams/audits/inquiries and may provide consultation to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Manager plans, drives and reviews team deliverables to support consistent quality of activities, processes and outputs. This role may contribute as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a team, or may act as an individual contributor.

The C&OR Manager contributes to the requirements of the CORM Program requirements including, but not limited to the following activities:

• Produces and/or oversees the development of independent risk management reporting for respective area(s) of coverage as input governance and management routines
• Provides subject matter expertise to assist the FLU/CF in establishing an annual learning plan, may be accountable for developing and delivering training content
• Develops and maintains C&OR-owned policies and standards and/or provides oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage, advises business leaders on those changes, directs the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenges the implementation plan as needed; maintains a comprehensive regulatory inventory
• Identifies, aggregates, reports, escalates, inspects and challenges remediation plans, and performs thematic analysis on FLU/CF-owned issues and control enhancements
• Ensures C&OR “owned” issues and control enhancements are identified and addressed appropriately and timely
• Contributes to or leads development of risk coverage plans, executes and / or oversees execution of independent risk monitoring, testing and risk assessments, communicates results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
• Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
• Participates in Scenario Analysis activities for coverage areas and challenges as appropriate
• Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation

Required Skills: Minimum Years of Business & Functional Experience: 7 Years
Degree Required: Bachelor’s Degree; May require regulatory examination/registration or certification depending on jurisdiction and role

The Compliance and Operational Risk Manager contributes to the independent compliance and operational risk oversight of Front Line Unit (“FLU”) performance and any related third party/vendor relationships in alignment with the Compliance and Operational Risk Management Program. This role is on the Consumer And Small Business Products Compliance and Operational risk team supporting Cross-Product. This role exercises judgment and influence, and may constructively challenge multiple FLU and control function leaders to mitigate and remediate risk, balancing business strategy with appropriate controls. As a member of this risk officer team, this role applies business acumen to promote a culture of compliance and operational risk management while working with the FLU to identify, debate, escalate and mitigate risk by:
• Building relationships and discussing projects and programs with Savings and Deposits FLU partners
• Determining and reporting on the health of the FLU's control environment through the Risk & Controls Self-Assessment (“RCSA”) process
• Overseeing the identification and maintenance of high risk processes in the Process, Risk & Control Inventory
• Contributing to compliance and operational risk assessments
• Monitoring and testing the FLU's quality assurance results
• Identifying aggregating, reporting and escalating compliance and operational risks, issues and control enhancements for FLU
• Assisting in the execution of governance and management routines
• Updating relevant policies to ensure they reflect regulatory and operational requirements for the Digital Banking team
• Identifying compliance and operational risk training needs, provide subject matter expertise to support development of training curriculum, and inspect FLU/CF and third party participation
• Preparing for regulatory exams and audits
• Escalating regulatory relations concerns to the appropriate risk executive
• Supporting the development and maintenance of key risk indicator metrics

Demonstrated strong written and verbal communication skills are required. Candidates will need to be able to work across the Enterprise to complete their responsibilities. Examples this candidate will need to work with regularly include:
• Product risk Teams
• Payments Risk Teams
• FLU Teams
 

Desired Skills: Financial Services or similarly regulated sector

Required Skills:
• 5+ Years Functional Experience
• Degree Required: Bachelor’s Degree or Equivalent experience
• SQL coding experience preferred

Shift:

1st shift (United States of America)

Hours Per Week: 

40