Senior Risk Manager, Enterprise Payments Strategy

The Senior Risk Manager, Enterprise Payments Strategy is a pivotal role within the Commercial Banking Risk team, which operates as a front-line unit risk function. The Senior Risk Manager will provide support to the Enterprise Payments Strategy business line at Citizens Bank. This team is tasked with orchestrating the execution of payment strategy across various segments such as Retail, Small and Medium Businesses, Private Banking, and Commercial Banking. The portfolio includes products such as Consumer Digital Payments (Zelle-P2P, Bill Payments, Transfers, and Digital Wires), Business Banking (Cash Management, Bill Payments, Zelle-B2B), and others. 

Working under the guidance of a Risk Director, the Senior Risk Manager is responsible for identifying and monitoring all aspects of material risk associated with their assigned business units. They determine necessary actions to enhance risk management or mitigate risks based on performance against the business unit’s risk profile and tolerances. The role involves maintaining an effective end-to-end risk management program, encompassing risk identification, assessment, quantification, aggregation reporting, monitoring, and control improvement. This also includes ensuring compliance with internal policies and applicable regulatory requirements and expectations, securing favorable exam outcomes through robust exam management protocols, and maintaining strong relationships with business leaders, support staff, Independent Risk Management, and Internal Audit. 

Responsibilities include, but are not limited to: 

Executing all facets of the Front-Line Unit risk management program and continuously assessing the material risks associated with the businesses in scope, including product development, launch, and end-to-end processing. Determining if actions need to be taken to enhance risk management or reduce risks based on business unit performance against established risk profiles and tolerances. 

Developing and sustaining an effective end-to-end risk management program, inclusive of control effectiveness measures and executing Risk and Control Self-Assessments (RCSA). 

Managing issues by partnering with business leaders to formulate action plans that achieve intended outcomes within defined timelines, while identifying themes and holistic remediation strategies. 

Providing daily support to the business unit by offering knowledge and expertise on the proper implementation of regulations, rules, and industry standards through procedures, guidelines, and best practices. Offering regulatory expertise and solutions on complex risk and compliance matters based on an understanding of the business unit's activities and products. Acting as a technical subject matter expert on one or more business processes or regulatory areas relevant to the businesses in scope. 

Ensuring appropriate exam outcomes through meticulous exam management protocols and fostering strong relationships with Independent Risk Management and Internal Audit. 

Implementing change governance risk assessment processes for product-related initiatives to meet corporate, divisional, and business line objectives. 

Advising on new products, initiatives, and strategies from a risk and control perspective; guiding business units through various governance approvals related to new ventures; liaising with other risk areas and operations to ensure processes are designed with proper controls; and advocating on behalf of the business lines to ensure effective and timely integration of risk management into daily operations. 

Guiding junior analysts in issue management and control inventory for payments activities. 

 

Experience and Skills: 

Strong knowledge of internal controls and risk assessment requirements of US financial institutions, including OCC Heightened Standards 

Knowledge of payments related risk, compliance, and operating requirements 

Experience in an organization that is under strong regulatory oversight and scrutiny, preferably bank (FRB,OCC) regulatory agencies. 

Proven ability to work in a fast-paced environment with competing priorities 

Decisiveness and sound judgment on a consistent basis 

Develop and maintain high impact relationships with business contacts and independent risk management 

Excellent business writing skills  

Project management skills to support multiple complex assignments on behalf of various stakeholders 

Proficient use of Microsoft suite of products and Atlassi