Business Unit Chief Risk Officer - Payments
TruistAbout the role
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Regular or Temporary:
RegularLanguage Fluency: English (Required)
Work Shift:
1st shift (United States of America)Please review the following job description:
The Truist Business Unit Chief Risk Officer (BU CRO) organization is designed to provide Independent Oversight and Effective Challenge of policy-based Risk Program execution, and the comprehensive risk profile (emerging and current risks) across Truist. The primary components of the BU CRO design include:• Independent Oversight - Performing Independent Oversight to evaluate the effectiveness of Truist’s risk management practices, and risk-taking activities across the enterprise through clearly defined and delineated roles & responsibilities across three lines of defense.
• Risk Management Activities - The operating model and risk management practices performed by the BU CRO organization including Independent Oversight, Risk Advisory, Management Accountability, and Governance & Reporting that support effective risk management execution.
• Risk Management Enablers - The tools, structures and foundational capabilities utilized by BU CROs to support effective and consistent execution of Risk Management Activities from risk identification, analysis, and evaluation of risk (both current and emerging) across Truist.
This BU CRO will cover our Payments organization and serve as the second line of defense independent oversight function for assigned Business Unit(s) to aggregate, integrate, and correlate all risks that occur within the BU and associated businesses and product lines to provide significant strategic recommendations to the Chief Risk Officer, Executive Management and the Risk Committee of the Boards. Engage across the full spectrum of risks to ensure appropriate oversight and governance of first line risk taking activities. Responsible for second line of defense independent oversight function for Capital Planning. Manage team which performs data quality assessments.
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
1. Through robust 2nd line oversight, ensure compliant execution to the corporate risk management framework for all eight risk types in the 1st line. Aggregate, report and escalate risk accordingly.
2. Provide strategic risk advisory to the Business Executive Leader.
3. Chair the Business Unit Risk Committee and actively serve as member on various Committees, Councils and Working Groups, Board meetings, regulatory agency meetings and examinations to offer 1st Line effective challenge, ensure risk management strategies are appropriately communicated and that risk programs are appropriately represented.
4. Escalate pertinent issues or significant events to Risk Program owners, executive management and/or the Board for all eight risk types. Influence and support management and board level or other aggregate reporting with respect to the Business Unit risk exposures, programs, and remediation efforts across all eight risk types.
5. Monitor the Business Unit risk and control framework for adequate design, documentation, and effectiveness in order to meet internal and regulatory requirements/expectations.
6. Where applicable, serve as a Risk Program escalation point and/or execute on Risk Program effective challenge requirements.
7. Thoroughly document effective challenge on topics such as Business Unit strategies, personnel alignment/organizational hierarchy, change initiatives, issues remediation, risk appetite/KRI thresholds and results, policy changes, risk limits, gover
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