Senior Managing Director, Front Line Controls Officer for Consumer & Healthcare Financial Services

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.  

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

Position Summary

The Front Line Controls Officer for Consumer & Healthcare Financial Services (SMD) at Webster Bank will play a critical leadership role in overseeing and strengthening the bank’s control environment. This individual will be responsible for overseeing and strengthening the risk and control environment for the following teams: Consumer and Healthcare Financial Services (HSA and Ametros). Critical initiatives will include building out a control inventory, designing and enhancing the risk and control self-assessment program, and ensuring compliance with internal policies, industry best practices and regulatory requirements. The ideal candidate will bring significant expertise in operational risk management, internal audit, internal controls, quality assurance and testing within the banking sector. This individual will also be involved with strategic and transformational initiatives and the delivery of critical, large-scale, complex, high-visibility, regulatory remediation programs.

Key Responsibilities

• Leadership & Strategy: Oversight and management for multiple Front Line Unit (FLUs): Consumer and Healthcare Financial Services (HSA and Ametros) aligning with the vision and objectives set by the Chief Controls Officer.
• Controls Design & Inventory: Collaborate with respective Front Line Units (FLUs) to design and implement effective controls to mitigate identified risks, providing recommendations for improvement where necessary.
• Proactive Oversight: Ensure proactive identification of potential control issues and deficiencies, determine root causes, and develop and execute on necessary remediation plans.
• RSCA Program Management: Lead the execution and documentation of RSCA processes across the respective Front Line Units (FLUs) to ensure it aligns with regulatory requirements and industry best practices. Assist with designing and enhancing the RCSA program, ensuring compliance with internal policies, industry best practices and regulatory requirements.
• Risk Assessment: Coordinate and facilitate risk assessment workshops and activities to identify potential risks and control gaps. Analyze risk data to assess the likelihood and impact of risks on the bank’s operations.
• Reporting & Communication: Prepare comprehensive reports for senior management, regulatory bodies, and board committees detailing control effectiveness, RCSA reviews, and action plans for identified gaps. Prepare executive-level dashboards and reports highlighting risk trends, control effectiveness, and areas requiring attention.
• Stakeholder Engagement: Work closely with first and second lines of defense to ensure that risk management practices are embedded within business processes. Act as the main point of contact for internal and external stakeholders regarding the respective Front Line Units (FLUs).
• Training & Awareness: Lead training sessions to enhance staff understanding of risk management principles, control processes, and RCSA responsibilities. Promote a proactive risk management culture through continuous education and awareness initiatives.
• Continuous Improvement: Evaluate and improve the overall risk and control environment to adapt to changes in the regulatory environment, business operations, and emerging risks.
• Policy & Procedure Development: Contribute to the development and update of policies and procedures related to the RSCA framework.
• Audit & Regulatory Coordination: Support internal audits and regulatory examinations, ensuring all required documentation and evidence are accurate and readily available. Act as a liaison between the business and regulators, providing transparent and comprehensive updates on the risk management program.
• Risk Management: Collaborate with senior leadership and department heads to identify and evaluate key risks, implement risk control measures, and monitor risk mitigation efforts.
• Compliance Assurance: Ensure adherence to applicable regulations and banking standards, partnering closely with Compliance, Internal Audit, and other control functions.

Requirements

• Education:
  • Bachelor’s degree in Finance, Business Admini