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 ("FLU") and Control Function ("CF") performance and any related third party/vendor relationships in alignment with the Global Compliance Enterprise Policy, the Operational Risk 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 demonstrates and applies business acumen to promote a culture of risk management and the identification, escalation and timely mitigation of compliance and operational risks. 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 contributes to the requirements in the GCOR Policy aligned to compliance and operational risk officers, including but not limited to the following activities:
This role is on the Product and Payments Risk Compliance and Operational risk team supporting deposit products and processes. This role exercises judgment and influence, and may constructively challenge the Product 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:
• Takes an active leadership role in maintaining and communicating regulatory changes, advising and directing business leaders to ensure that regulatory requirements are addressed in their respective process and controls so that their day-to-day activities operate in a compliant manner.
• Proactively engages other C&OR officers, Enterprise Areas of Coverage (EAC) roles, and horizontal function roles to provide comprehensive oversight of FLU and CF activities.
• Identify, collect, validate and record internal loss events and "near misses." Perform root cause analyses on internal loss events and develop remediation plans to strengthen controls.
• Identify, review and document relevant external loss events.
• Conduct compliance and operational risk assessments of FLU and CF, incorporating review of external loss events to assess control effectiveness.
• Provides independent review and challenge of the FLU/CF's Risk & Control Self-Assessment (RCSA).
• Leads the efforts and/or contributes to monitoring and testing coverage plans and related metrics for Front Line Unit ("FLU") or Control Function ("CF").
• Monitor and test the effectiveness of the front line unit and control function compliance and operational risk controls.
• Identify aggregate, report and escalate compliance and operational risks, issues and control enhancements.
• Contribute to Scenario Analyses to provide a forward-looking estimate of hypothetical operational losses.
• Executes and/or provides oversight of governance and management routines.
• Identify compliance and operational risk training needs, provide subject matter expertise to support development of training curriculum, and inspect FLU/CF and third party participation.
• Provides consultation to business leaders in preparations for regulatory exams and audits for FLU/CF and related Enterprise Areas of Coverage.
• Inspect that commitments made regarding actions in response to Matters Requiring Attention ("MRAs") and other actions are completed.
• Escalate regulatory relations concerns to Compliance and Operational Risk Executive.
• Building relationships and discussing projects and programs with Products and Payments FLU partners
• Overseeing the identification and maintenance of high risk processes in the Process, Risk & Control Inventory
• Updating relevant policies to ensure they reflect regulatory and operational requirements for the Products and Payments teams
• Supporting the development and maintenance of key risk indicator metrics
The Compliance and Operational Risk Manager plans, drives and reviews team deliverables to support consistent quality of activities, processes and outputs.
•4+ years experience in consumer business, risk, and/or business controls
•Ability to collaborate and work across the Enterprise; build partnerships with GT&O, Product Risk teams, and Consumer Risk teams.
•Strong written and verbal communication skills; ability to challenge business partners
•Degree Required: Bachelor's Degree or equivalent experience
- Financial Services or similarly regulated sector
- Previous experience in deposits desired
- MBA or JD a plus
Valid Through: 2019-11-12