Business Controls Director - Commercial

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GENERAL FUNCTION:

As first line of defense, provides business leadership related to identifying, assessing, mitigating and managing risk and ensures the existence of appropriate product and platform supervisory controls. This position is primarily focused on the Bank’s largest and/or most complex businesses or functional areas or multiple lines of large scope. This highly visible position will work as part of a team that works across the line of business or function to ensure transparency and understanding of operating issues, risk, and opportunities, including the sound governance, administration and oversight of business activities. Evaluates the industry, market and regulatory environment to anticipate changes and help ensure appropriate alignment with potential business scenarios.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank’s and LOB’s risk appetites, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Establishes a set of processes that include first line of defense risk limits, with policies ensuring that risks are effectively identified, measured, monitored and controlled, consistent with the Bank’s and LOB’s risk appetite statements and concentration risk limits.
• Implements and communicates the organization’s mission, goals and strategies regarding business controls within the Enterprise Risk Management (ERM) framework.
• Collaborates with Managing Director, Business Controls and LOB/function to Define strategies and lead the implementation of Controls, policies and procedures to increase effectiveness and efficiency related to their respective business or functional area.
• Influences senior business managers and peers to ensure enforcement of strong risk and governance management while balancing business strategy.
• Proactively manages the relationships with other internal business control groups and the second and third lines of defense (such as compliance, legal, enterprise risk and audit).
• Represents LOB/function on appropriate Bancorp Risk governing committees.
• Effectively executes organization design and effectiveness to establish a structure that maximizes governance and productivity with the appropriate talent.
• Leverages strong regulatory knowledge to ensure compliance with all applicable laws, regulations, standards and requirements, including, but not limited to, OCC Heightened Standards.
• Responsible for a continual, forward-looking scan of industry, regulatory and legal trends and changes.
• Manages and provides comprehensive reporting that captures and prioritizes key issues resulting from the business, control functions, audit or other internal and external sources; including updates to Enterprise Risk Management.
• Provides guidance and training on effective implementation and monitoring of the Enterprise Risk Management frameworks.
• Reviews policies for completeness and adherence to the Bancorp’s and LOB’s risk appetites, and ensure that policies are maintained centrally in the Policy Center.
• Executes regulatory change management program to ensure applicable regulatory changes are identified, assessed against business processes, reported, and complied with.
• Reviews self identified issues submitted to determine alignment to LOB or functional area and assigns issue owner. Provides oversight, credible challenge and approval on severity. Actively participates in issue remediation.
• Builds testing for processes applicable to the LOB.
• Manages and identifies operational risks in accordance with the ERM, ensuring that adequate internal controls are in place to mitigate risks of all types.
• Partners with business managers in implementing RCSA standards and procedures and ensure quality, consistency, and sufficiency of implementation.
• Coordinates the development of and reporting on risk dashboards, combining information tracked at the enterprise level such as key risk indicators, with information on top and emerging risks obtained through discussion with the functional managers.
• Provides guidance to line managers in identifying and Monitoring Key risk indicators that repre