TIAA MD, Head of Retail Distribution Risk Management in Boston, Massachusetts
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Responsible for partnering with a major line of business to drive second line of defense risk management and support the Retail Distribution/Sales & Service organization in executing and achieving its business goals. Responsible for successfully driving change and instituting a culture of first line risk ownership with your business partners while also overseeing and effectively challenging the risk identification, analysis, measurement, and mitigation of the Retail Distribution/Sales & Service organization. This oversight and scope of risks spans product, strategic, operational, and investment (both credit and market) risk, legal entities, and complex distribution channels that are growing rapidly in line with our Vision 2020 goals and objectives.
KEY RESPONSIBILITIES AND DUTIES:
Provide counsel and effectively challenge business partners including Retail Distribution/Sales & Service CEO, executive management, and senior business leaders as well as product management, operations, distribution, and partners including audit, compliance, legal, finance, and human resources on overall risk management issues.
Partner with first line leaders to establish, enable, create, and sustain a culture of risk management and accountability by the first line risk owners driving to risk-based decision making.
Guide and shape the articulation of risk appetite to establish the parameters for first line risk-taking.
Assume a leading role on specified risk committees, leadership team meetings with the Retail Distribution/Sales & Service, and with Enterprise Risk Management.
Review business plans and challenge assumptions to support the reasonableness of the plans and fit with corporate strategy.
Assist in identifying emerging risks and trends (both internal and external) that could have a negative impact on the ability to achieve the goals and objectives of assigned business.
Assist in defining risk information and tools needs for the business. Ensure the capture of appropriate risk-related data to support the measurement and management of risk within the business and risk aggregation and measurement at the enterprise level. Provide input into assumptions supporting risk measurement.
Help identify and monitor key risk and performance indicators and metrics, and monitor the effectiveness of risk mitigation programs and controls. Implement programs and limits to support risk-taking that are in line with corporate standards and the prescribed risk appetite.
Support the development and implementation of appropriate policies and procedures that are in line with corporate guidelines.
Support the implementation and ongoing use of GRC tools within the Retail Distribution/Sales & Service organization.
Interact with regulators as needed including the Federal Reserve, New York State Insurance Department, other state insurance departments, Office of the Comptroller of the Currency (OCC). FINRA, SEC, and MSRB.
Bachelor’s Degree is required; Master’s Degree is preferred.
Experience in a leadership role in financial services is required; consumer financial services is preferred.
Direct experience leading multiple change management efforts and/or M&A/transitions is required.
Experience providing business consulting and/or risk guidance to achieve business results is preferred.
Demonstrated experience in business process improvement or Six Sigma in a consumer financial services organization is preferred.
Experience working closely with legal, compliance, HR, finance, and audit in a matrixed environment is preferred.
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Job: Risk Management
Primary Location: NY-New York
Req ID: 1709385