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Compliance and Operational Risk Specialist

Charlotte, North Carolina;

Job Description:

The Compliance and Operational Risk (“C&OR”) Specialist assists the C&OR officer team in activities to contribute to the independent compliance and operational risk oversight of Front Line Unit or Control Function (“FLU/CF”) performance and any related third party/vendor relationships in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs).

The C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Specialist is accountable for assisting the C&OR Team in the proactive identification, escalation and timely mitigation of compliance and operational risks through the execution of some or all of the following activities:

• Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
• Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
• Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
• Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
• Assists in remediating C&OR “owned” issues and control enhancements
• Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
• Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls
• Assists with the development of risk metrics, monitors related performance and breach remediation

The Corp Ops Risk Specialist is part of the Global Compliance and Operational Risk Team. Role would be focused on assisting in executing processes and controls of the Internal Loss Data Program. Advise Front Line Units/Control Functions on the requirements of the Internal Operational Loss Data (ILD) Program. Engagement with key stakeholders in Global Compliance Risk and Operational Risk and Finance. Act as a subject matter expert for Internal Loss Data.

Executes processes and controls in support of the Corporate Compliance and Operational Risk's accountabilities within the Operational Risk Management Framework. Contributes to the ongoing improvements in the Internal Loss Data Standard (ILD) Standard and procedures. Assesses implementation of the ILD standard and reports gaps to management. Acts as an ambassador of the risk culture. May provide guidance and training to more junior staff.

Additional Responsibilities for this role include:

  • Oversight of Front Line Units, Control Functions, Global Compliance Operational Risk and Finance Internal Loss Data attestation

  • Provide both quantitative and qualitative reporting and comparative trend analysis

  • Regulatory and external loss data reporting (e.g., FR Y-14Q, ORX)

  • Assist in the coordination of technology activities for operational risk loss data systems including providing business requirements and user acceptance testing to ensure accuracy of the resolution implementation

  • Support ad-hoc requests and assist on special projects to evaluate and mitigate operational risk

Required Skills:

  • Minimum Years Business & Functional Experience: 5 Years Functional Experience

  • Advanced Excel / PowerPoint and SQL Data Mining

  • Cognos Business Intelligence

Degree Preferred:

  • Bachelor’s Degree

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

2000

Job Description:

The Compliance and Operational Risk (“C&OR”) Specialist assists the C&OR officer team in activities to contribute to the independent compliance and operational risk oversight of Front Line Unit or Control Function (“FLU/CF”) performance and any related third party/vendor relationships in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs).

The C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Specialist is accountable for assisting the C&OR Team in the proactive identification, escalation and timely mitigation of compliance and operational risks through the execution of some or all of the following activities:

• Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
• Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
• Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
• Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
• Assists in remediating C&OR “owned” issues and control enhancements
• Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
• Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls
• Assists with the development of risk metrics, monitors related performance and breach remediation

The Corp Ops Risk Specialist is part of the Global Compliance and Operational Risk Team. Role would be focused on assisting in executing processes and controls of the Internal Loss Data Program. Advise Front Line Units/Control Functions on the requirements of the Internal Operational Loss Data (ILD) Program. Engagement with key stakeholders in Global Compliance Risk and Operational Risk and Finance. Act as a subject matter expert for Internal Loss Data.

Executes processes and controls in support of the Corporate Compliance and Operational Risk's accountabilities within the Operational Risk Management Framework. Contributes to the ongoing improvements in the Internal Loss Data Standard (ILD) Standard and procedures. Assesses implementation of the ILD standard and reports gaps to management. Acts as an ambassador of the risk culture. May provide guidance and training to more junior staff.

Additional Responsibilities for this role include:

  • Oversight of Front Line Units, Control Functions, Global Compliance Operational Risk and Finance Internal Loss Data attestation

  • Provide both quantitative and qualitative reporting and comparative trend analysis

  • Regulatory and external loss data reporting (e.g., FR Y-14Q, ORX)

  • Assist in the coordination of technology activities for operational risk loss data systems including providing business requirements and user acceptance testing to ensure accuracy of the resolution implementation

  • Support ad-hoc requests and assist on special projects to evaluate and mitigate operational risk

Required Skills:

  • Minimum Years Business & Functional Experience: 5 Years Functional Experience

  • Advanced Excel / PowerPoint and SQL Data Mining

  • Cognos Business Intelligence

Degree Preferred:

  • Bachelor’s Degree

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-22016104

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Janette Flowers

Referral Bonus:

2000

Jersey City pay and benefits information

Jersey City pay range:

$60,000 - $100,000 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.