The Enterprise Area of Coverage (EAC) Compliance & Operational Risk (C&OR) Manager is a subject matter expert on specific processes, controls, laws, rules and/or regulations that have enterprise-wide applicability, affecting two or more Front Line Units (“FLU”) or Control Functions (“CF”). This role is responsible for the execution of the Compliance and Operational Risk Programs (“CORM Program”), the Global Compliance Enterprise Policy (“GC Policy”) and the Operational Risk Management – Enterprise Policy (“ORM Policy”) for these enterprise). The EAC C&OR manager identifies, escalates and mitigates risks in a timely manner in alignment with the CRM and ORM Programs and the GC and ORM Policies. The role engages with FLU/CF leaders globally through the FLU/CF compliance and operational risk officer (C&OR) teams to independently advise those leaders on effectively managing the risks related to their area of coverage. By executing the CORM and Policies, the EAC C&OR Manager identifies themes and trends, conducts analysis for new and emerging risks and recommends approaches to mitigate these risks. Activities this role performs for their area of coverage include but are not limited to:
• Create and manage a global coverage plan which defines the scope and focus of the second line’s risk management activities.
• Helps establish, monitor and report on enterprise risk tolerance metric(s) that are translated and connected to relevant business metrics (Key Risk Indicators).
• Monitor regulatory environment and participate in industry forums to identify areas of focus and conduct benchmarking.
• Create and maintain a regulatory inventory, communicate regulatory changes to and engage the FLU/CF in assessing impacts of regulatory changes for enterprise area of coverage.
• Develop and maintain relevant policies or review relevant FLU / CF policies to ensure they reflect regulatory and operational risk requirements.
• Advise and direct business leaders through the FLU/CF C&OR officers to ensure that regulatory requirements are addressed in their respective procedures and controls so that their daily activities operate in a compliant manner.
• Conduct and contribute to annual and targeted risk assessments.
• Review and analyze aggregate results of FLU/CFs’ Risk and Control Self-Assessments (RCSA) for EAC-specific themes and trends.
• Create and manage monitoring and testing coverage plans and related metrics.
• Monitor and test the effectiveness of the FLU and CF’s processes and compliance and operational risk controls.
• Identify, aggregate, report and escalate risks, issues and control enhancements and ensure the C&OR officers for the FLU/CF are aware of issues.
• Review and analyze internal and external losses related to their area of coverage for enterprise-wide themes; escalate concerns or loss exposures as appropriate.
• Lead or contribute to Scenario Analysis activities to provide a forward-looking estimate of hypothetical operational losses.
• Execute governance and management routines.
• Identify regulatory training needs, provide subject matter expertise to support development of training curriculum, and inspect FLU/CF.
• Advise Risk peers and business leaders in preparations for and participation in regulatory exams and audits. Prepare and participate in EAC-specific exams and audits.
• Inspect that gap closure plans and commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
• Escalate regulatory relations concerns to EAC C&OR Executive.
• Ensure Compliance and Operational Risk “owned” issues (i.e., Internal Audit, Regulator and Self-Identified issues) are addressed appropriately and timely.
The EAC Compliance & Operational Risk 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 Compliance and Operational Risk Manager is responsible for engaging in activities to contribute to the independent compliance and operational risk oversight of Front Line Unit (FLU) and Control Function (CF) performance and any related data and data management relationships in alignment with the Compliance Risk Management (CRM) Program, the Operational Risk Policy and the Global Compliance Enterprise Policy (GC Policy). As a member of the team, the Compliance and Operational Risk Manager demonstrates and applies business acumen to promote a culture of compliance 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 Program objectives, balancing business strategy with appropriate controls. The Compliance and Operational Risk Manager 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 small team, or may act as an individual contributor.
Minimum Years Business & Functional Experience: 7 Years
Degree Required: Bachelor’s Degree or equivalent experience
The Compliance and Operational Risk Manager is responsible for providing independent oversight of the risk and control environment for one or multiple lines of business and/or more complex business functions, which includes, conducting risk assessments, as well independent testing and monitoring of the controls.
•Operational Risk or Compliance experience supporting a Front Line Unit or Controls Function.
•Familiarity with the Operational Risk and Compliance Program and tools.
•Familiarity with Data Management concepts
•Knowledge of Banking law, rules and regs and/or the ability to assess applicability to the FLU/CF
•Strong relationship management skills
•Experience working with Audit/Regulators and issue resolution
•Bachelor's degree or equivalent work experience
Shift:1st shift (United States of America)
Hours Per Week:40
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