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WSFS Bank · 12 hours ago

Consumer Banking Business Unit Risk Officer

Wilmington, DE

Full-time

Onsite

Senior Level

$91K/yr - $149K/yr

7+ years exp

WSFS Bank is a locally headquartered bank and wealth management company that empowers its associates to grow their careers and support their communities. The Business Unit Risk Officer is responsible for promoting a strong risk culture within the Consumer Banking Division, ensuring risk management practices are integrated throughout operations, and collaborating with senior leadership on risk management deliverables.

BankingFinanceFinancial Services

Responsibilities

Act as the Consumer Bank’s primary contact for all risk matters and ensure alignment between front-line activities and risk management expectations

Build and successfully manage relationships with key stakeholders and senior leadership within the Consumer Bank to maintain knowledge and awareness of departmental operations, risk management developments, and new/changes to processes, products, services, and initiatives

Periodically meet with business unit ELT and senior leaders to complete and review risk monitoring activities (quarterly risk assessments) and other risk management deliverables as needed

Identify and escalate business risk related issues and ensure issues self-identified by others in the Consumer Bank are timely, properly escalated and reported through the appropriate business unit channels (e.g. self-identification process, ERM, management committees, SOX 302 certifications, etc.)

Identify and escalate control failures, breaches or suspicious activity in accordance with established procedures

Recommend updates to business policies, procedures and/or practices, consistent with established or identified risk protocols

Support timely remediation and track corrective action plans to closure

Develop and manage Key Risk Indicators (KRIs) against established thresholds/risk limits to ensure compliance with risk appetite on a quarterly basis. Investigate threshold breaches and create a formal action plan to remediate breaches

Own Risk and Control Self-Assessment (RCSA) process by creating and validating process flow(s) that document the process, identifies controls, and control gaps. Partner with applicable stakeholder(s) to address issues or recommendations based on RCSA output

Proactively identify opportunities to strengthen risk controls and improve operational processes. Identify and escalate instances of emerging risks to Consumer Banking leadership and ERM partners for consideration and discussion

Participate in the annual review/evaluation of risk appetite(s) applicable to the Consumer Bank. Collaborate with senior leadership to ensure the risk appetite(s) accurately reflect the organization’s willingness to take on specific risk(s)

Report monthly Operational Risk Event activity by reviewing provided general ledger activity and engaging stakeholders throughout assigned business unit(s). Document associated lessons learned around circumstances and root cause(s) to ensure events are properly understood and remediate. Provide updates on ongoing remediation efforts

Review action plans and remediation evidence for business issues (Audit, Regulatory, Compliance, Operational, or self-identified issues) for adequacy prior to business submission as complete for validation testing

Serve as a visible risk leader within the Consumer Banking Division, ensuring fellow Associates understand their risk responsibilities and they are completed timely (including Third Party Risk Management, Model Risk Management, etc. deliverables)

Promote a culture of risk awareness and compliance including ERM and Operational Risk Management (ORM) policies/programs, processes, and best practices

Serve as a formal member of and actively engage in Risk Council meetings with fellow Business Unit Risk Officers and Risk partners

Responsible for presentation of KRIs, risk assessment summary, and associated action plans for remediation to the Management Risk Committee (MRC)

Qualification

Risk managementFinancial services experienceAnalytical skillsRegulationsThree lines of defenseCommunication skillsCollaborationCritical thinkingDetail-oriented

Required

Must have a bachelor's degree, preferably in a business-related field

Must have a minimum 7-10 years of relevant experience in financial services (risk management, compliance risk management, or internal audit are acceptable)

Must have analytical skills and an eye for detail

Must have strong oral and written communication skills

Knowledge and awareness of Division business unit functions, key processes, systems, and products and services

Knowledge of Division risk management functions and strategies in a financial services environment

Must stay up to date and knowledgeable on ERM and ORM Policy/Program, practices, and current and emerging Division internal and external risks to the organization

Knowledge of relevant laws and regulations impacting the Division

Knowledge of financial services, banking products and operations, key processes, controls, and exposure

Knowledge and experience working within the three lines of defense risk management framework

Ability to think critically/independently and communicate effectively

Ability to work with others effectively and collaboratively at all levels in the organization