Citizens Bank Wealth Management Business Control Officer in Dedham, Massachusetts
The Consumer - Business Control Officer (BCO) reports directly to the Business Head of the designated Consumer ‘Front Line Unit’ with an indirect reporting line to the Head of Consumer Banking Risk. In this capacity, the BCO assists the Head of the designated Front Line to establish and implement a risk management framework that is in alignment with Bank’s policies to manage and control the business unit’s risk taking activity.
The BCO assists the business unit management team in the identification, assessment, monitoring, aggregation and mitigation of key risks in order to influence decision making, so risk is appropriately managed for the size, complexity and risk profile of the Bank. The incumbent is responsible for developing and maintaining an effective end-to-end risk management program and for providing knowledge and expertise on rules and regulations, and industry standards and best practices. The BCO acts as technical expert on the business processes, products, new business initiatives and strategies from a risk and control perspective. The BCO fulfills this role by building a team of skilled, engaged and customer-focused colleagues ensuring organizational structures are in place to support a broad span of responsibilities to assure the Front Line Unit is in compliance with CFG Policy, applicable laws, and regulations.
The Consumer - Business Control Officer (BCO) performs their duties in alignment and as defined in Appendix D to Part 30 – OCC Guidelines Establishing Heightened Standards for Certain Large Insured National Banks
Assess risks for assigned business line and determine if Front Line Unit’s activities are in need of strengthening to reduce risk of non-compliance with policy, regulation and/or sound controls. Execute various risk programs to meet objective, include Risk and Control Self Assessments, Targeted Risk Assessments, Risk Appetite, Risk Identification and Assessment, etc. Also focus on a proactive assessment of emerging risks based on analysis of root cause of issues, themes and trends, and industry events. Ensure the adequacy and effectiveness of key controls to mitigate risks and ensure they are incorporated into the inventory of key risks and controls for testing and in line with CFG Policy. Ensure Front Line Business Unit has established an inventory of process maps and procedures for their key processes/activities and have a defined process for their ongoing maintenance. Assist in the establishment and adherence of written policy/procedures that adhere to established risk limits, compliant with CFG Policy and applicable laws and regulations.
Drives issue management to ensure appropriate action plans and owners, and that issues are closed on target. Ensures business lines have the appropriate risk metrics, including risk appetite and key performance indicators, to effectively manage risks. Follows up on breaches as needed. Supports remediation activities based on root-cause analysis of known issues/themes/trends. Also, ensures business line colleagues have the appropriate risk-related goals and objectives. Ensure that loss events, actual and potential, are being captured and assessed by the Front Line Unit in compliance with CFG Policy and applicable laws and regulations. Provide advice and guidance to the Front Line Unit in complying with CFG Policy regarding CNEP and incidents, scenario analysis activity, establishment of covered role risk objectives, corporate governance, and regulatory and Bank policy compliance.
Ensures new business initiatives are properly risk assessed and managed, including performing post-implementation reviews as needed.Review and evaluate the adequacy of risk assessments associated with change management as well as advising and guiding Front Line Unit on complying with CFG Policy and governance expectations to remain within Front Line Unit and company’s overall risk profile. Assist in scenario analysis to identify material inherent risks in the Front Line Unit and plans to remediate any risk mitigation gaps that result in the Front Line Unit being outside its risk profile.
Assist Front Line Unit in Exam Management, Audit, Assurance, Investor, and 3rd Party Reviews intended to independently assess the risks and controls associated with the Front Line Units operations and compliance with policy, laws and regulations.
Lead a team of skilled, engaged and customer-focused colleagues and ensure organizational structures are in place to support broad span of responsibilities. Perform continuous skill set assessments and talent planning activities to ensure team is positioned for success and individuals have career development plans.
Expert knowledge of internal controls and risk assessment
Deep understanding of the front line business supported to include products and processes, including back-office operations;
Deep understanding of regulatory requirements and Bank policies with an ability to translate requirements into product features and or front line processes
Decisiveness and sound judgment on a consistent basis
Proven ability to develop and maintain high impact relationships with senior executives
Influencing and conflict resolution skills
Excellent business writing skills
Proven leadership and management skills in a professional environment
Project management skills to support multiple complex assignments on behalf of various stakeholders
Proficient use of MS Word, MS Excel and PowerPoint and Visio
Knowledge of Archer GRC tool
Hours & Work Schedule
Hours per Week: 40
Work Schedule: 8:00 am - 5:00 pm; Monday - Friday
Why Work with Us
At Citizens, you’ll find a customer-centric culture built around helping our customers and giving back to our local communities. When you join our team, you are part of a supportive and collaborative workforce, with access to training and tools to accelerate your potential and maximize your career growth.
Equal Employment Opportunity
It is the policy of Citizens Bank and Citizens Securities, Inc. to provide equal employment and advancement opportunities to all colleagues and applicants for employment without regard to race, color, ethnicity, religion, gender, pregnancy/childbirth, age, national origin, sexual orientation, gender identity or expression, disability or perceived disability, genetic information, citizenship, veteran or military status, marital or domestic partner status, or any other category protected by federal, state and/or local laws.
Equal Opportunity & Affirmative Action Employer Disabled/Veteran
Citizens Bank is a brand name of Citizens Bank, N.A. and each of its respective subsidiaries, and Citizens Bank of Pennsylvania.