Our client, a leading bank, is looking for their next VP, Division Risk to join their growing team.
13th October, 2021
Location(s): Los Angeles, CA; New York, NY; or Washington, DC. Or REMOTE full-time. Work arrangements currently remote but will transition to hybrid once COVID calms down.
This position manages the implementation of Risk Programs for Wealth Management and Private Banking. This includes but is not limited to, development of project plans to facilitate the completion of Heightened Standards Requirements, remediation of regulatory MRA's, and Internal Audit exceptions. Additionally, this position will work closely with 1st line business units to help implement remediation plans for regulatory findings and exceptions. This includes the development and implementation of an issues management program providing transparency to executive management. Directing and providing the 1st line examination team guidance for monitoring the implementation of remediation plans. The Program Risk Manager will be required to work with all lines of defense to ensure alignment of the bank's Risk Management Framework and compliance with Heightened Standard requirements. Assist the 1st LOD Group Head Risk Management, Wealth Management, and Private Banking in the coordination and preparation of all reporting and documentation and ensuring standardization of programs. The Risk Program Manager is also responsible for promoting risk awareness within all Divisions.
Manage the execution for Wealth Management and Private Banking MRA remediation received by the OCC, SEC, and FINRA.
Oversee and manage the Issues Management process for the Division, ensuring adherence to 2LOD procedures for ongoing monitoring and reporting of Self-Identified, 2LOD Identified, Audit, and Regulatory Issues.
Participate in and leads meeting activities to identify risk goals and gain consensus on project steps, schedule and implement procedures, and facilitate cooperation among colleagues and all Lines of Defense.
Provide executive management recommendations to remediate risk management and regulatory exceptions. This includes the resolution of self-identified, Internal Audit, Risk testing exceptions, and regulatory MRAs.
Understand Divisional policies and procedures governing the risk activities and applicable regulations to ensure controls are captured to comply, and breaches are escalated and resolved timely.
Act as Subject Matter Expert and assist in the development of Risk Policies and Procedures
Oversee the development of risk management dashboards, key risk indicators, RCSA results, Issues Management, and Operational Losses. This includes working with the 2nd LOD to ensure deliverables address 2nd LOD needs.
Help coordinate risk activities across Wealth Management and Private Banking to ensure material/key risks are identified, escalated, managed, and remediated timely.
Work with Wealth Management and Private Banking colleagues to ensure Third-Party Risk / Vendor Management 2nd line requirements are documented.
This includes interfacing on behalf of WM and PB with 2nd line to detail the process in place for the management of Third Party and Vendor Management Risk.
Provide strategic direction to the 1st line to ensure regulatory and internal audit requests are fulfilled timely.
This includes interfacing with regulators and Internal Audit to explain documents provided.
Stays abreast on specific reporting standards, department reporting requirements, and bank system changes/enhancements.
Bachelor's Degree Finance, Economics, Mathematics, Statistics or related field
Minimum 10 years of experience in financial services
Minimum 5 years experience in project management and risk management
Minimum 5 years of Advanced level experience in Microsoft Office skills, including Word, Excel, Access, PowerPoint, Sharepoint, and Tableau
Thorough knowledge of and background in Heightened Standards and other key Regulatory and Compliance deliverables and requirements are expected.
Technical and business acumen to comprehend, advise on and create artifacts for MRA’s, Internal Audit exceptions, and 1st line testing exceptions is required.
Deep understanding of Risk Management Frameworks and implementation skills.
Understanding of multiple regulators and their applicability to subsidiaries of the bank, includes, the OCC, SEC, and FINRA.
Previous experience in the financial services industry and/or risk management.
Proficiency in MS Project, Excel, Word, Access, PowerPoint, SharePoint.
Strong project management experience.
Demonstrated ability to think critically and facilitate change through a collaborative effort.
Strong interpersonal, verbal, and written communication skills.
Self-motivation, discipline, task focus, the ability to structure and present work, and a proven record of delivering high-quality results within strict deadlines.
Must have the ability to multi-task and prioritize several concurrent initiatives.
Demonstrated ability to interact effectively, internally and externally, with the most senior representatives of organizations, regulators, and vendors.