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Director, Front Line Risk
Citizens Bank
Dedham, MA, United States
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Description
Responsibilities:
The Risk Director partners with the Wealth risk team, compliance, and business unit management to oversee and manage all aspects of risk and assess, on an ongoing basis, the material risks associated with Non Deposit Investment oversight, determining if actions need to be taken to strengthen the risk framework or reduce risk given performance against the Banks risk profile and tolerances. Responsible for developing and maintaining an effective end to end risk management program including control effectiveness measures for Bank oversight of the Broker-Dealer. Serves as a technical NDIP expert on multiple oversight processes or regulatory areas impacting the Bank.
Primary responsibilities include:
• Manages all aspects of the risks associated with Bank oversight of the Broker-Dealer sales program ensuring appropriate governance framework over Non-deposit investment product (NDIP) activities
• Ensure compliance with the NDIP Policy and the Program Management Statement (PMS), including development and updates to procedures to monitor compliance to the OCC Retail Non-deposit Investment Products Handbook and Interagency Statement on Retail Sales of Non-deposit Investment Products
• Working with key partners, ensure updates to the Statement of Work (SOW) (networking agreement) between the Bank and the Broker-Dealer in alignment with the OCC’s Third Party Relationship Bulletin 2013-2019
• Ensure the Bank has a defined process to evaluate CSI’s compliance with the SOW, as well as the NDIP Handbook
• Develop and implement ongoing reporting to monitor compliance with activities outlined in the Statement of Work (SOW)
• Assists Chair of the Non-Deposit Investment Products Committee by providing a summary report on key risks and monitoring activities
Qualifications:
Required Skills/Experience:
• Must have held compliance and/or operations management position within the securities or banking industry
• A minimum of 10 years of Broker Dealer, Investment Adviser compliance
• Background in brokerage insurance, mutual funds, investment adviser, and general securities matters required
• Ability to foster strong partnerships with directors of other Wealth Management business units. Must demonstrate proven leadership qualities
• Experience dealing one on one with regulators such as OCC, CFPB, FINRA, SEC, State Securities and State Insurance Divisions and Banking Regulatory Agencies
• Excellent communication skills (both oral and written), as well as strong analytical skills
Education, Certifications and/or Other Professional Credentials:
• Bachelor Degree
• MBA Preferred
• Banking/Trust regulatory experience preferred
• Law degree is a plus
• FINRA Series 7, 24, and 63 required a plus
Hours & Work Schedule
Hours per Week: 40 hours
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 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.