BCRO Specialist Lead - Retail Governance

BRCO Specialist Lead The Business Risk and Control Officers (BRCOs) play a pivotal role in guiding the business to identify and understand risk exposures and the controls needed which are integral to reducing risk and safeguarding our customers and colleagues. BRCOs are critical to the success of the Risk Management Lifecyle and play a role in Planning, Identifying, Assessing, Mitigating, Monitoring, and Reporting. BRCOs are members of the First Line of Defense (1LOD) who:

• Provide leadership and coaching to the 1LOD to proactively identify and effectively manage risks.
• Translate and educate 1LOD to enable and drive business relevant implementation of Second Line of Defense (2LOD) risk management frameworks, policies, taxonomies, and inventories.
• Review, validate, and test 1LOD activities to ensure adequate control design and effective control operation.
• Provide credible challenge to 1LOD colleagues, ensuring safeguard and risk mitigation measures are upheld in decision making and adherence to 2LOD frameworks and policies prior to 2LOD review.
• Drive two-way collaboration across 1LOD and 2LOD; liaise between 1LOD and 2LOD to drive engagement throughout the risk management lifecycle.
• Collaborate and coordinate across the organization to help navigate and mitigate horizontal risk promoting resilience and ensuring safety and soundness.
• Document, aggregate and report risk in accordance with the risk management lifecycle.

The Business Risk and Control Office (BRCO) Specialist Lead for the Line of Business will be assigned to support two or more of the specialty areas: RCSA, Control Design, Issue Management, Control Testing, and Metrics & Reporting based on the volume and prioritization of deliverables, as well as the structure of the team. The BRCO Specialist Lead role will also be responsible for helping advise, guide, support and/or own 1LOD additional risk activities, while ensuring alignment to 2LOD frameworks and policies, in topics such as Exams, Compliance, Third-Party Risk, Model Risk, Compliance, Human Capital, and Business Continuity.   Position Responsibilities   Collaborates with 1LOD on risk management frameworks, tools, regulatory requirements and how to build and maintain internal controls

• Provides leadership and coaching to 1LOD to proactively identify and effectively manage risks.
• Translates and educates 1LOD to enable and drive business relevant implementation of Second Line of Defense (2LOD) risk management frameworks, policies, taxonomies, and inventories.
• Drives two-way collaboration across 1LOD and 2LOD; liaise between 1LOD and 2LOD to drive engagement throughout the risk management lifecycle.
• Collaborates and coordinates across the organization to help navigate and mitigate horizontal risk promoting resilience and ensuring safety and soundness.
• Drives a strong enterprise risk culture by fostering rigor and discipline focused on risk and compliance awareness, ethical business practices, transparency, and escalation.
• Learns continuously about the line of business to strengthen subject matter expertise and provide more valuable application of risk guidance.
• Collaborates with and supports other BRCO team members to ensure a robust and comprehensive implementation of 2LOD frameworks within 1LOD.

Leads or supports two or more of the specialty risk areas: RCSA, Control Design, Issue Management, Control Testing, and Metrics & Reporting

• Identifies, assesses, and documents risks within 1LOD.
• Engages with 1LOD in the development and implementation of control designs to ensure effective measures are in place to manage risks.
• Ensures 1LOD adherence and alignment to the Issues Management policy.
• Conducts structured reviews to validate processes and controls function as intended to mitigate risk, including SOX controls.
• Develops, produces, and distributes timely, accurate, and transparent risk reporting to enable informed decision making by senior management and other key stakeholders.

Provides credible challenge to 1LOD colleagues, ensuring safeguard and risk mitigation measures are upheld in decision making and adherence to 2LOD frameworks and policies prior to 2LOD review   Advises, guides supports and/or owns additional risk activities required for a well-functioning organization, such as:

• Exam related activities: Owns and serves as the point of contact for the 1LOD relationship for all exam related activities including regulatory, 2LOD, Internal Audit, various internal Risk Pillars, etc. Gathers data, answers questions, reviews materials, responses and validate 1LOD remediation work (e.g. artifacts, action plans, etc).
• Compliance Liaison - Understands and translates how to ap