Associate Director, ERM

The Associate Director, Enterprise Risk Management (ERM) plays a lead role in the organization’s ERM program efforts to identify, assess, prioritize, monitor, manage and report to management and the Board on enterprise-level risks and opportunities which can have a significant impact on FINRA’s ability to meet its strategic goals and key business objectives. This position works closely with FINRA executive and supporting risk owners as well as other program participants across the organization, including Strategy and Finance staff, to ensure alignment of the ERM, strategic planning and budgeting processes.

Essential Job Functions:

Key ERM activities:

• Facilitate the ongoing identification of risks through ongoing monitoring of significant developments and emerging issues, both internal and external, and collaborate with FINRA executive and supporting risk owners as well as other program participants on the resulting implications and evaluate management’s response. Provide insights on risk response and potential issues and risk exposures that need follow up, as appropriate.
• Lead the periodic update of key risk tolerance metrics for each enterprise risk to facilitate monitoring within defined limits and escalate to management, where appropriate, to assist in the early identification or risk trends.
• Identify new and enhanced risk tolerance metrics and other relevant risk measurements and facilitate the development of the underlying data and analytics with the supporting risk owners/other program participants and review and approval with the executive risk owner(s).
• Facilitate the annual self-assessment process whereby risk owners evaluate the overall risk management effectiveness for designated enterprise risks. Prepare draft self-assessments for designated enterprise risks and facilitate reviews by supporting and executive owners. Identify and reference supporting materials such as internal analyses (e.g., scenario analysis), results of Internal Audit, reviews by independent third-party experts, etc.). Provide objective view on the overall risk management effectiveness. Identify potential risk exposures for close monitoring and escalate, where appropriate. Participate in reviews of self-assessments by ERM governance management bodies, including the ERM Leadership Team and Executive Risk Council.
• Analyze the enterprise risks as a portfolio to identify and better understand risk concentrations, interdependencies, etc.
• Collaborate with ERM management and risk owners on analysis to identify, validate, and prioritize existing and emerging risks on an annual basis or as significant developments arise.
• Perform ongoing monitoring of internal and external pipelines including daily news reports, for significant developments, trends and challenges that could impact the organization, determine relevance and implications, and communicate and escalate, as appropriate.
• Prepare synopses of relevant external research / white papers from other regulators, consulting firms and other firms to provide timely information for risk-based decision making. Coordinate dissemination with the Emerging Regulatory Issues group.
• Facilitate efforts to further integrate ERM, strategic planning and budgeting processes and to embed risk management within and across functions, processes, and business activities.
• Play a hands-on role in structuring and preparing reporting for senior management and the Board, including annual self-assessment results and interim reporting, incorporating insights on risk exposures and risk response. Facilitate reviews of ERM reporting by executive risk owners and ERM governance management bodies.
• Provide guidance and assistance to business units with the identification, evaluation, monitoring, management, and communication of enterprise risks.
• Maintain a trusted, collaborative relationship with management across the organization to promote an appropriate level of engagement in ERM activities.
• Build strong alliances inside and outside work units to positively influence identification and resolution of significant risks/opportunities.
• Collaborate with ERM management and provide insights on program vision, roadmap, strategies, and approaches.
• Manage and coordinate requests for information from external constituents (e.g., regulatory oversight reviews, independent annual financial statement audit, independent consultant reviews).
• Update and maintain FINRA’s ERM framework, policies and procedures, governance charters and membership listings, etc.
• Evaluate and recommend system solutions considering ERM program requirements. Provide analysis/design of analytical and performance management tools that can