General Function: Responsible for the management and development of oversight programs to assess, mitigate and manage risk and ensure the existence of appropriate product and platform supervisory controls. Work across multiple lines of business or functional areas to ensure transparency and understanding of operations issues, risks and opportunities. Assist in driving consistent fiduciary behavior within Wealth & Asset Management and ensuring compliance with regulatory and legal guidelines. Responsible for managing the identification and assessment of risks and the execution of procedures to ensure the department's compliance with laws, regulations, and industry standards. Evaluates efficiency and effectiveness of existing programs, processes, and control within departmental operations and proposes and implements solutions. Responsible for communication and training of critical functions within the department. Drives strong partnerships with cross-functional internal teams, including Finance, Legal, Audit, Compliance, and other departments, working collaboratively to accomplish business objectives, including problem and issue identification and resolution.
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. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.
Essential Duties and Responsibilities:- Champion the implementation of updates and initiatives in products, processes, and policies, facilitating the education and training of personnel across "assigned" area and product set.
- Support and champion the consistent delivery of product features, pricing, etc. in accordance with pre-defined standards across the footprint to help ensure a repeatable customer experience.
- Act as a liaison on Bancorp product related issues and coordinate development of new products with all necessary business partners.
- In reference to new products and new initiatives, work with the teams to ensure proper assessment of the risk, the planning of controls and the adequate execution of those controls.
- Oversee national projects, policy changes and product discussions.
- Help to define the strategies and implement controls, policies, and procedures to increase effectiveness and efficiency related to the respective business or functional area.
- Responsible for the development and adherence to Governance oversight for regulatory reporting and escalation to senior management and board committees.
- Reviews and maintains policies for completeness and adherence to the Bancorp's and LOB's risk appetites and ensure that policies are maintained centrally in the Policy Center.
- Establish and maintain a set of processes that incorporate first line of defense risk appetite with policies ensuring that risks are effectively identified, measured, monitored and controlled
- Responsible for ensuring that procedures are communicated to the Lines of Business and that resources are available for front line employees as needed.
- Influences senior business managers and peers to ensure enforcement of strong risk and governance management while balancing business strategy.
- Identifies risks, enhances the controls, implements and monitors to ensure compliance at a national level to prevent or control breakdowns, inadequate processes, and unexpected events and implements corrective actions to address process and control deficiencies.
- Responsible for developing, strengthening, and implementing oversight and reporting for the Line of Business to ensure compliance with existing laws and regulations, including governance, policies and procedures, monitoring, reporting, communications, and education.
- Responsible for identifying and responding to issues identified affecting the Line of Business and department within fiduciary governance oversight
- Execute strategic and tactical programs to address and resolve current issues and evolving risks and other exposures to the Bancorp in partnership with Business Controls.
- Maintain a working knowledge of the appropriate laws, regulations, policy and procedures, and Fifth Third Bank policies.
- Recommends plans to eliminate or mitigate observed risks.
- Provides guidance and training on effective implementation and monitoring of changes to policy and procedures and implementation of projects to enhance or improve the control environment.
- Executes strategic and tactical programs to address and resolve current issues and evolving risks and other exposures to the Bancorp in partnership with Business Controls.
- Leverages strong regulatory knowledge to ensure compliance with all applicable laws, regulations, standards and requirements, including, but not limited to, OCC Heightened Standards.
- Responsible for developing, strengthening, and implementing the Line of Business governance programs in compliance with existing laws and regulations, including governance, policies and procedures, monitoring, reporting, communications, and education.
- Works with regulatory change management program to ensure applicable regulatory changes are identified, assessed against business processes, reported, and complied with.
- Works with LOB, Business controls, legal compliance and operations to evaluate risks associated with new product and strategic initiatives prior to formal project review (i.e., "is this within appetite") and determines mitigating controls.
- Incorporates on-going oversight from risks identified in the LOB/Function.
- Foster interbank and team relationships with senior management peers within the business line to support an effective workflow.
- Partner with Legal, Compliance, Risk Management, and Audit to ensure the implementation of effective compliance and Risk mitigation programs surrounding product offerings.
- Actively promote a solution-oriented environment throughout the department.
- Collaborate with the vendor manager with any rollout strategies, development initiatives, system enhancements, rollout strategies and internal training as it relates to the third-party resources
- May act as a secretary and voting member of the IM&T governance process
- May represent the LOB or function on Bancorp governing committees.
- May have additional responsibilities as assigned.
SUPERVISORY RESPONSIBILITIES:May provide assistance in onboarding, mentoring, training, and coaching new employees.
Minimum Knowledge, Skills and Abilities Required- Bachelor's degree required.
- Minimum of 10 years' experience in the investment management/advisory, institutional/personal trust, custody, or brokerage industry.
- Strong project management skills.
- Possess the desire and ability to learn new applications and automated data analysis tools and Techniques.
- Excellent analytical, verbal, and written communication skills.
- Ability to work independently with minimal direction.
- Demonstrate sound judgment as well as apply logical/critical thought processes.
- Ability to adjust to multiple demands, shifting priorities, and rapid change.
- Flexible and adaptable, with the ability to multi-task and work in a fast-paced, dynamic environment.
- Demonstrated leadership and management skills.
- Strong presentation skills, including the demonstrated ability to collaborate with and present to senior management.
- Proficient with MS-Windows, MS Office, and other PC applications.
W&AM Product & Process Manager
The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.
Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being. You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.
LOCATION -- Cincinnati, Ohio 45202
Attention search firms and staffing agencies: do not submit unsolicited resumes for this posting. Fifth Third does not accept resumes from any agency that does not have an active agreement with Fifth Third. Any unsolicited resumes - no matter how they are submitted - will be considered the property of Fifth Third and Fifth Third will not be responsible for any associated fee.
