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The Compliance and Operational Risk (C&OR)Manager is responsible for engaging in activities to provide independent compliance and operational risk oversight of Front Line Unit (“FLU”) and Control Function (“CF”) performance and any related third party/vendor relationships in alignment with the Global Compliance Enterprise Policy, the Operational Risk Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs). As a member of an FLU or CF C&OR officer team, the C&OR Manager demonstrates and applies business acumen to promote a culture of risk management and the identification, escalation and timely mitigation of compliance and operational risks. This role exercises judgment and influence, and may constructively challenge FLU and CF leaders to support the CORM Program objectives, balancing business strategy with appropriate controls. This role will support the Home Loans Products Team including coverage of First Mortgage and Home Equity Products. This role exercises judgment and influence, and may constructively challenge the FLU and control function leaders to mitigate and remediate risk, balancing business strategy with appropriate controls. The Risk Officer is an independent oversight and challenge role that exercises intellectual curiosity, judgment, objectivity, functional knowledge, and influence to identify, evaluate, and mitigate of risk across the business, balancing business strategy with appropriate controls.
The C&OR Manager contributes to the requirements in the GCOR Policy aligned to compliance and operational risk officers, including but not limited to the following activities:
Takes an active leadership role in maintaining and communicating regulatory changes, advising and directing business leaders to ensure that regulatory requirements are addressed in their respective process and controls so that their day-to-day activities operate in a compliant manner.
Proactively engages other C&OR officers, Enterprise Areas of Coverage (EAC) roles, and horizontal function roles to provide comprehensive oversight of FLU and CF activities.
Identify, collect, validate and record internal loss events and “near misses.” Perform root cause analyses on internal loss events and develop remediation plans to strengthen controls.
Identify, review and document relevant external loss events.
Conduct compliance and operational risk assessments of FLU and CF, incorporating review of external loss events to assess control effectiveness.
Provides independent review and challenge of the FLU/CF’s Risk & Control Self-Assessment (RCSA).
Leads the efforts and/or contributes to monitoring and testing coverage plans and related metrics for Front Line Unit (“FLU”) or Control Function (“CF”).
Monitor and test the effectiveness of the front line unit and control function compliance and operational risk controls.
Identify aggregate, report and escalate compliance and operational risks, issues and control enhancements.
Contribute to Scenario Analyses to provide a forward-looking estimate of hypothetical operational losses.
Executes and/or provides oversight of governance and management routines.
Identify compliance and operational risk training needs, provide subject matter expertise to support development of training curriculum, and inspect FLU/CF and third party participation.
Provides consultation to business leaders in preparations for regulatory exams and audits for FLU/CF and related Enterprise Areas of Coverage.
Inspect that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
Escalate regulatory relations concerns to Compliance and Operational Risk Executive.
•Collaborating with other control partners (Compliance and Operational Risk, EACs, Legal, Credit Risk) for holistic risk evaluation
The Compliance and Operational Risk Manager plans, drives and reviews team deliverables to support consistent quality of activities, processes and outputs. This role may contribute as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a team, or may act as an individual contributor.
7+ years of operational risk management and/or compliance experience
Risk assessment skill set to enable evaluation of processes and other operational risks, identification of controls, and determination of gaps and weaknesses
Strong written/verbal communication skills with the ability to communicate issues/concerns and recommend corrective course of action
Intellectual curiosity to identify areas of risk coupled with the analytic, logical reasoning, and problem solving, risk vs. reward skills to effectively and objectively investigate/evaluate areas of risk.
Must be have good time management skills and the ability manage multiple priorities in a fast paced environment
Ability to work well and collaboratively as part of a team and function independently when required
Capability to effectively influence risk direction and willingness to take a stand when required
5+ years Consumer Real Estate/Mortgage Area such as Product, Sales and/or Mortgage Originations experience
Risk, testing, or audit experience
Effective ability to influence, drive change and resolve conflicts
Knowledge of Company's various products and systems
Bachelor's Degree Preferred
Shift:1st shift (United States of America)
Hours Per Week: 40
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