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Position Summary:
The Business Controls Sr. Risk Analyst will support the First Line of Defense (1LOD) by playing a crucial role in establishing and maintaining a robust control environment across Operations. This role will partner with stakeholders to facilitate and drive the consistent implementation and execution of key Second Line of Defense (2LOD) Risk Management programs, including Risk and Control Self-Assessments (RCSA), Issue Management, and Risk Reporting.
This position requires an independent and proactive individual who will partner closely with risk owners and the broader 1LOD organization. The role involves collaborating with stakeholders to identify and develop effective controls to mitigate identified risks, assisting issue owners in enhancing control frameworks to prevent recurrence, and actively contributing to control testing engagements. A key aspect of the role involves creating and reviewing operational workflows to identify potential risks and map appropriate controls, as well as identifying control gaps and supporting remediation efforts in collaboration with operational teams.
Key Responsibilities:
Partner with stakeholders to identify, document, and assess relevant risks and controls
Conduct walkthroughs of business processes to document process flows and ensure effective controls are in place to mitigate risks
Manage issues and ensure timely and satisfactory completion of corrective action plans to address the root case and related control gaps
Conduct timely periodic reviews and updates of RCSAs to assess the design and operating effectiveness of controls based on control testing results, effectiveness of issue remediation, any updates to processes, etc.
Create and maintain risk management reports for various forums
Demonstrate strong relationship-building and communication skills in order to support consistent understanding, adoption, and high-quality execution of the enterprise risk management frameworks (policies, programs, processes, etc.) to promote a strong culture of risk management
Provide support to the stakeholders during oversight activities performed by 2LOD
Collaborate with the testing team to ensure testing scope comprehensive for identifying and mitigating risks effectively
Undertake ad-hoc duties, as needed, to support Business Controls.
Qualifications:
Bachelor’s degree
4+ years of relevant experience risk management, compliance, or audit
Experience in the banking and/or fintech industry
Understanding and experience working with the three lines of defense
Knowledge of banking products, processes, and regulations
Experience mapping complex processes and identifying control points
Self-motivated with strong ability to work independently with minimum oversight
Strong attention to detail
Well organized
Strong critical thinking and problem-solving skills
Ability to work under pressure, manage multiple tasks and competing priorities, meet deadlines, and adapt to change
Strong interpersonal, verbal, and written communication skills
Team player, ability to interact positively with management and colleagues
Strong collaboration and influencing skills
