Senior Group Risk Specialist- 2LOD Risk Mgmt (US)

Work Location: New York, New York, United States of America. Hours: 40 per week. Pay Range: $124,280 – $186,160 USD. Line of Business: Risk Management.

About the role

The Senior Group Risk Specialist provides a comprehensive and diverse range of risk management expertise to business leaders. Leads and supports the implementation of appropriate risk frameworks and leading related management activities to mitigate enterprise and/or business-wide risk exposures for key business segment of the Bank or functional area. May provide oversight, commentary, and recommendations based on overall strategy and industry best practices.

Recognized as a top-level expert within the company, this role requires significant in-depth and/or breadth of expertise in a complex field and knowledge of broader related areas. The specialist provides advisory services to executives and business segment leaders, governs requirements for own work, and integrates knowledge of the enterprise function’s or business segment’s strategy in leading program design, policy formulation, or operating standards within one or more areas of expertise. Anticipates emerging business trends and regulatory/risk issues as a basis for recommending large-scale product, technical, functional, or operations improvements. Serves as a source of expert advice to senior management; may lead team(s) of related specialists/experts. Advises on execution strategy and leads the development and deployment of functional programs or initiatives within own field or across multiple specialties. Solves unique and ambiguous problems with broad impact; typically oversees standards, controls, and operating methods that have significant financial and operational impact. Requires innovative thinking to develop new solutions. Impacts the technical or functional direction and resource allocation of part of an enterprise function or business segment. Works within general policies and industry guidelines. Engages stakeholders to take action; serves as a source of expert advice, influences change, and frames information in a broader context. Provides leadership guidance, makes recommendations, and collaborates with business to ensure solutions meet business needs on complex projects or programs. Identifies and leads problem resolution for project/program complex requirements-related issues at all levels.

Responsibilities

• Leads the development and/or implementation of specific standards, policies, and/or processes that identify, report on, and mitigate operational (or all major) risk exposures within the business.
• Proactively analyzes potential risks and ensures escalation of key risks to appropriate areas and/or executive review with business executive findings and action plans to mitigate and manage these risks.
• Establishes and provides ongoing analysis and reporting on operational risk and/or other major risk categories as applicable to own business or functional area, and reviews findings and action plans with business leaders to mitigate and manage key issues.
• Coordinates and/or guides activities relating to core operational risk disciplines/programs including Risk & Control Self-Assessment, Business Continuity Management, Outsourcing & Vendor Management, Regulatory Compliance (e.g., CDIC, AML, Privacy, IDA, CBA, SOX, Basel, etc.).
• Supports enterprise-wide operational risk escalation, review and approval processes, data management, policies, and risk assessment processes.
• Directs the development and monitoring of Key Risk Indicators and facilitates communication and resolution of risk issues among other business segments where applicable.
• May be accountable for managing ancillary operational risk areas (e.g., BCM/incident management, outsourcing/vendor management, fraud aggregation and assessment, Basel implementation/capital analysis, change management, Privacy, AML, LCM, and other regulatory issues), in addition to core functions.
• May be responsible for providing support for other major risk areas (e.g., Market, Credit, Reputational, and/or Regulatory risks).
• May serve as a point of contact for guidance in the monitoring/reporting of compliance, management, and strategic initiatives.
• Provides broad/deep commentary in support of the development/maintenance/oversight of policies/procedures/practices, as required.
• Adheres to enterprise frameworks or methodologies that relate to activities for the business area.
• Ensures respective programs/policies/practices are well managed, meet business needs, comply with internal and external requirements, and align with business priorities.
• Consistently exercises discretion in managing correspondence, information, and all matters of confidentiality; escalates issues where appropriate.
• Ensures business operations are in compliance with applicable internal and external requirements (e.g., financial controls, segregation of duties, transaction approvals, and physical control of assets).
• Participates in cross-functional/enterprise initiatives as a subject matter expert helping to identify risk/provide guidance for complex situations.
• Conducts internal and external research projects; supports the development/delivery of presentations/communications to management or broader audience.
• Conducts meaningful analysis at the functional or enterprise level using results to draw conclusions, make recommendations, and assess the effectiveness of programs/policies/practices.
• Monitors service, productivity, and assesses efficiency levels within own function and implements continuous process/performance improvements where opportunities exist.
• Leads/facilitates and/or implements actions/remediation plans to address performance/risk/governance issues.
• Actively manages relationships within and across various business lines, corporate and/or oversight functions and ensures alignment with enterprise and/or regulatory requirements.
• Keeps abreast of emerging issues, trends, and evolving regulatory requirements and assesses potential impacts.
• Maintains a culture of risk management and control, supported by effective processes in alignment with risk appetite.
• Participates fully as a member of the team, supports a positive work environment that promotes service to the business, quality, innovation, and teamwork, and ensures timely communication of issues/points of interest.
• Provides thought leadership and/or industry knowledge for own area of expertise and participates in knowledge transfer within the team and business unit.
• Keeps current on emerging trends/developments and grows knowledge of the business, related tools, and techniques.
• Participates in personal performance management and development activities, including cross-training within own team.
• Keeps others informed and up-to-date about the status/progress of projects and/or all relevant or useful information related to day-to-day activities.
• Contributes to team development of skills and capabilities through mentorship of others, by sharing knowledge and experiences, and leveraging best practices.
• Leads, motivates, and develops relationships with internal and external business partners/stakeholders to develop productive working relationships.
• Contributes to a fair, positive, and equitable environment that supports a diverse workforce.
• Acts as a brand ambassador for the business area/function and the bank, both internally and/or externally.

Qualifications

• Undergraduate degree or technical certificate and/or 10+ years relevant experience.
• Advanced knowledge of risk management governance, programs, policies, practices, operating frameworks, and reporting for business supported and/or area