Vice President, Functions Control Officer - Compliance

Role Description

The Compliance – Functions Control Officer function plays a critical role in strengthening the Compliance function’s risk and control environment by providing expert guidance on processes and control design, ensures effective assessment of risk across the broader operating environment, and supports interaction between the Compliance, 1LoD and 2LoD Non-Financial Risk and Enterprise Risk functions. The control management function also helps drive initiatives to enhance and address risk and control considerations across the operating environment.

SCOPE

The role will report to Functions Control Officer Lead for Compliance.  The incumbent will be responsible for supporting and leading the activities related to Risk and Control Self-Assessment, Incident Management and related reporting for Compliance Control Management.

Role Objectives

• Assists in the execution of the Risk and Control Self – Assessment (RCSA) process in collaboration with process and control owners within CPAD.
• Identify, assess and document relevant risks and map them to corresponding controls to ensure that the function is operating in compliance with applicable laws, rules, and regulations, provides oversight of processes designed to comply with requirements.
• Assists in executing the Periodic l Controls Attestation process and managing related technology platform in interim state
• Assists in providing guidance on assessment of processes, risks and controls, proactively assessing threats, vulnerabilities, and possibility of future incidents.
• Supports thematic reviews to assess adherence to control requirements and highlight process improvement opportunities.
• Participate in control rationalization, standardization, and automation efforts to improve control efficiency and sustainability.
• Coordinates and supports interactions with Operational Risk, Enterprise Risk and Internal Audit, pertaining to processes, risks and controls.
• Supports the Functions in the development of policies and procedures to enhance control environment.
• Supports assessment of key metrics to ensure operational effectiveness, identify and implement Function-level metrics in coordination with Functional process and control owners.
• Supports incident management process by assisting in root cause analysis, logging and status reporting of incidents.
• Assists in issue documentation, root cause analysis, remediation planning and status monitoring.
• Supports the preparation of program documentation, risk and control reporting, including dashboards, metrics and executive summaries for governance forums.
• Participates in training and awareness programs to foster a strong control culture across the function.

Qualifications and Skills

• Expert knowledge of process and control design, including process mapping and process reengineering
• Expert knowledge of risk assessment, issue management and incident management
• Deep understanding of the regulatory environment affecting the financial services industry, with a strong ability to interpret and implement regulatory changes (including familiarity of federal and state banking laws and regulations (e.g., Federal Reserve Bank, NYDFS, FDIC, OCC)
• Experienced in change management and continuous process improvement practices
• Strong communication and executive presence with capability to engage and influence stakeholders at all levels within the organization
• Strong analytical ability, inclusive of conflict resolution and project management abilities        
• Experience with data analytics and/or data visualization is a strong plus (e.g., analyzing and aggregating data, creating heat maps based on ratings).  

Work Experience:

• 7+ years of specialized experience in Banking or Financial Services industry
• 7+ years of experience in an Operational Risk or Compliance Risk role

Education:

• Required: BA/BS
• Preferred: MA/MS/MBA/JD in a relevant discipline

Software Systems / Programming Languages: Microsoft applications