VP, Business Risk and Control Officer

Supporting various risk management function business units/divisions such as Enterprise Risk, Loan Review, Compliance, and FCIU.

GENERAL SUMMARY

The VP, Business Risk and Control (BRC) Officer has reporting lines to EVP of the Business/Division(s) (direct reporting relationship) and SVP, Director of ERM (indirect reporting relationship). The primary responsibilities of the BRC Officer include identifying, assessing, monitoring, and reporting of all relevant risks related to the assigned Division(s) to manage risk exposure, and timely escalation of risk issues. The BRC Officer will need to use exceptional communication and relationship management skills as part of working directly with the business(es) and other first line and second line SMEs to regularly assess risk exposures and effectiveness of controls as part of a sound first line testing and risk management program. This role will require the individual to develop and apply in-depth knowledge of the bank’s risk management policies, guidelines, and practices with a strong focus on first line execution. The BRC Officer will also utilize the bank’s existing GRC tools and engage with the second line Enterprise Risk Management team to ensure effective risk reporting to senior leadership and the Board. The BRC Officer will be expected to execute the Risk Management Framework and is responsible for promoting a risk-aware culture within their assigned division(s). 

ESSENTIAL FUNCTIONS

• Responsible for jointly managing the risks with the EVP(s) of each assigned Division(s).
• Coordinate and conduct all key risk activities across the Division(s) to ensure material/key risks are identified, escalated, managed and remediated timely. 
• Work collaboratively within the assigned Division(s) as well as with second line and third line to coordinate risk management reporting and internal audit requests. 
• Act as a subject matter expert on key business processes and related risk exposure and control activities within the respective assigned division(s). 
• Apply the bank’s approach in executing key risk management program components across all first line operational, financial, reputational, and strategic risks including but not limited to Risk and Control Self-Assessment (RCSA), fraud risk assessments, Key Risk Indicators (KRI), issues management, and operational loss analysis.
• Responsible of conducting annual enterprise risk assessment for the assigned Division(s) by ensuring business/strategic plans are consistent with the Bank’s Risk Appetite Framework and limits, and the Division(s) objectives, success factors, and risk profile.
• Support the effective challenge of RCSAs completed by the first line and ensure necessary updates are made, as needed.
• Work with the front-line business unit line in assessing controls design, operating effectiveness, and suggesting enhanced controls and mitigation measures, as needed.
• Maintain ongoing dialogue with key business representatives to ensure material risks are integrated in their decision making.
• Build and coordinate quarterly risk reports for respective risk review meetings.
• Assist and represent the first line during internal and external audits and regulatory examinations.
• Act as SME and assist in development of Division-level policies and procedures.
• Train and facilitate first line team members to identify key preventative and detective controls.
• Develop and update actionable risk management dashboards for their respective Division(s) to include key risk indicators. Ensure alignment of management reports within business line risk report.
• Coordinate the completion of risk mitigating action plans and provide status updates of open /closed issues.
• Define report performance metrics and KRI to monitor high risks to Division(s) using data collected from risk issues solutions. Provide root cause analysis on all breaches to identify gaps and assist with remediation efforts. 
• Investigate large or repetitive loss events impacting the Division(s) to assess potential systemic weakness and ensure appropriate corrective action is taken.
• Stay abreast on specific reporting standards, regulatory requirements, and bank system changes/enhancements.
• Assist with research and special risk-related initiatives as needed.

QUALIFICATIONS

Education:  

•  Bachelor’s or Master’s Degree (Finance, Risk Management, Economics, Mathematics, Statistics or related fields).

Experience:  

• 5-10 years of experience in a banking environment, preferably in a first line BRC related role or a second line risk management role.
• 7+ years of experience in risk management within the financial services industry or in management consulting, serving in risk related roles (operational risk management is preferred).
• Strong knowledge of banking operations, products, and services and their related first line internal operating processes.
• Knowledge of applicable regulatory compliance obligations, industry standards, practices, and expectations such as FDIC risk management guidelines and OCC Heightened Standards.
• Experience working with Governance, Risk and Compliance (GRC) technology tools.
• Advanced level experience working in Microsoft Office applications, including Word, Excel, PowerPoint, Visio, and Access.

Skills/Ability: 

• Ability to prioritize and multi-task various concurrent risk projects and initiatives.
• Previous experience in financial services industry and/or risk management.
• Strong project management experience.
• Demonstrated ability to think critically and facilitate change through effective internal collaboration efforts. 
• Strong interpersonal, verbal, and written communications skills.
• Self-motivated, disciplined, task focused, with an ability to effectively structure and present complex topics in an easy-to-understand executive presentation format.
• Proven record of delivering high quality results within strict deadlines.
• Ability to effectively utilize GRC tools (e.g., Diligent and ServiceNow) to execute key functions including conducting risk assessments, monitoring risks and metrics, tracking issues/remediation plans, performing analysis, and generating reports.
• Demonstrated ability to interact effectively, internally and externally, with the most senior representatives of organizations, regulators and vendors.

OTHER DETAILS

$120K – $145K / year 
Pay determined based on job-related knowledge, skills, experience, and location.