Business Controls IT Application Risk Manager
* GENERAL FUNCTION:
As first line of defense, provides business leadership related to identifying, assessing, mitigating and managing risk and ensures the existence of appropriate product and platform supervisory controls and is primarily focused on one line of business or functional area. This highly visible position will work as part of a team that works across the line of business or function to ensure transparency and understanding of operating issues, risk, and opportunities, including the sound governance, administration and oversight of business activities. Evaluates the industry, market and regulatory environment to anticipate changes and help ensure appropriate alignment with potential business scenarios.
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. Achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
o Establishes a set of processes that include first line of defense risk limits, with policies ensuring that risks are effectively identified, measured, monitored and controlled.
o Assists Sr Manager, business Controls with the Development of strategies and the implementation of Controls, policies and procedures to increase effectiveness and efficiency related to their respective business or functional area.
o Exercises judgment and influences senior business managers and peers to ensure enforcement of strong risk and governance management while balancing business strategy.
o Works with Sr Manager, business Controls and LOB/function to translate business control strategies into actionable plans.
o Works with senior leadership to develop, implement and communicate the organization's mission, goals and strategies regarding business controls within the Enterprise Risk Management (ERM) framework.
o Proactively manages the relationships with other internal business control groups and the second and third lines of defense (such as compliance, legal, enterprise risk and audit). Represents the LOB or function on appropriate Bancorp Risk governing committee.
o Highlights control breakdowns, inadequate processes, and unexpected events and implements corrective actions to address process and control deficiencies. Notifies management of changes to applicable Enterprise-level policies and risk limits.
o Leverages strong Regulatory knowledge to ensure compliance with all applicable laws, regulations, standards and requirements. Establishes and Maintains a Comprehensive List of all governing regulations within the business or function, and is responsible for a continual, Forward-looking scan of industry, Regulatory and Legal trends and changes.
o Manages and Provides Comprehensive reporting that captures and prioritizes Key issues resulting from the business, control functions, audit or other internal and external sources.
o Quickly and efficiently resolves issues raised by the second and Third Lines of defense and external auditors.
o Effectively executes organization design and effectiveness to establish a structure that maximizes governance and productivity with the appropriate talent.
o Provides guidance and Training on effective implementation and Monitoring of the Enterprise risk management frameworks.
o Reviews policies for completeness and adherence to the company's risk appetite, and ensure that policies are maintained centrally in the Policy Center.
o Partners with business managers & business process & Controls manager in creating and maintaining the Regulatory inventory, including Facilitation of Review of Regulatory changes, impact assessments and Approval of all LoDs.
Classification: Internal Use
o Assists LOB in documenting final conclusion and enter into inventory for Tracking and post implementation validation based on the risk rating of the Change and requirements of the Change.
o Reviews Self-identified items submitted to determine alignment to functional area and assign Issue owner including oversight, credible challenge and Approval on severity.
o Manages and Identifies operational risks in accordance with the ERM, ensuring that adequate internal Controls are in place to mitigate risks of all types.
o Partners with business managers in implementing RCSA standards and procedures and ensure quality, consistency, and sufficiency of implementation.
o Maintains a Complete and current inventory of all the material processes, product Lines, services and functions, with the associated Key risks and their thresholds.
o Works with LOB to evaluate risks associated with new product and strategic initiatives prior to formal project review ('is this within appetite') and determines mitigating controls.
o Completes control implementation QA and post-implementation Review on in-scope initiatives.
o Completes data quality check, including coordinating resolution of data reconciliation issues; monitor action plan implementation and report operational loss data and trends to various management levels.
o Associate loss events with applicable RCSA risks/processes and Coordinate root cause analysis and action Plan evaluation with LOB.
o Provides oversight to overall LOB Supplier/Outsourcing strategy, participates in escalated issues that impact LOB process & involve supplier(s).
o Reviews LOB business case for Outsourcing and challenge.
o Coordinates the Development of risk dashboards, combining information tracked at the Enterprise level such as Key risk indicators, with information on top and emerging risks obtained through discussion with the functional managers.
o Provides guidance to line managers in identifying and Monitoring Key risk indicators that represent early indicators of Key drivers of risk for the division.
Responsible for providing employees timely, candid and constructive performance feedback; developing employees to their fullest potential and providing challenging opportunities that enhance employee career growth; developing the appropriate talent pool to ensure adequate bench strength and succession planning; recognizing and rewarding employees for accomplishments. Typically supervises individual contributors.
The company is an equal opportunity employer and will consider all applications without regards to race, sex, age, color, religion, national origin, veteran status, disability, sexual orientation, gender identity, genetic information or any characteristic protected by law.
If you would like to request a reasonable accommodation, such as the modification or adjustment of the job application process or interviewing process due to a disability, please call 888 472-3411 or email accommodation@teksystems .com for other accommodation options.