The Risk Manager is a member of the Commercial Banking Risk team, a front line unit risk function. Will support Corporate Finance & Capital Markets and is responsible, along with business unit management, for establishing and monitoring the risk program for all aspects of material risk related to how Corporate Finance & Capital Markets develops, launches, sells and processes products and services. Under direction, determine if actions need to be taken to strengthen risk management or reduce risk given performance against the business unit’s risk profile and tolerances. Will be responsible for developing and maintaining an effective end to end risk management program including risk identification, assessment and quantification, aggregation reporting, monitoring and control improvement for one or more segments of Corporate Finance & Capital Markets’ product /capability groups and client and industry infrastructure. This includes ensuring the risk management framework, processes and practices executed comply with internal policy and US Regulatory requirements and expectations. Acts as lead for exam for product / function under review. Maintains strong relationships with the second line of defense, Internal Audit and the Regulators. Serves as a technical expert on one or more business processes or regulatory areas impacting Corporate Finance & Capital Markets.
Responsibilities Include (but are not limited to):
- Manages all aspects of risk and assesses, on an ongoing basis, the material risks associated with how business unit’s activities and products are developed, launched, sold and processed end to end. Under direction, determine if actions need to be taken to strengthen risk management or reduce risk given performance against the business unit’s risk profile and tolerances. Responsible for developing and maintaining an effective end to end risk management program including control effectiveness measures for one or more segments of Commercial’s product /capability groups and client and industry infrastructure. Responsible for issue management including partnering with business leaders to develop action plans that will deliver intended outcomes within defined timelines while identifying themes and related holistic remediation plans.
- Provides day to day support to the business unit(s) providing knowledge and expertise on the appropriate implementation of Regulations, Rules and industry standards through procedures, other guidelines, and industry best practices. Provides regulatory expertise and solutions on complex risk and compliance issues based upon understanding of business unit’s activities and products. Also acts as technical expert on one or more business processes or regulatory areas impacting Commercial Banking.
- Advise on new products, initiatives and strategies from a risk and control perspective; guide the business unit(s) through the various governance approvals related to new initiatives; liaise with other risk areas and operations to ensure processes are designed with proper controls; and advocate on the business lines behalf to ensure effective and timely incorporation of risk management into everyday operations.
- Acts as lead for exam for product / function under review. Maintains strong relationships with the second line of defense, Internal Audit and the Regulators.
- Participate in risk and product related initiatives to meet corporate, divisional and business line objectives.
Experience and Skills:
- 5+ years Risk management experience gained from working in financial services industry and with risk and control self assessment program elements
- Knowledge of internal controls and risk and control self assessment processes
- Knowledge of products including debt capital markets, primarily bank and institutional loan markets; CLOs; corporate advisory along with supporting operations; regulatory requirements; and key processes, controls and exposure areas
- Experience in an organization that is under strong regulatory oversight and scrutiny, particularly within Commercial Banking
- Strong business writing skills
- Analytical thinking skills
- Ability to effectively communicate with all levels of the organization
- Project management skills to support multiple assignments on behalf of various stakeholders
- Coaching and developing staff on project basis
- Proficient use of MS Word, MS Excel and PowerPoint and Visio
- Bachelor’s degree required
- Graduate degree or relevant professional designation preferred