Fifth Third Bank · 1 week ago
Business Controls Manager
Cincinnati, OH
Full-time
Onsite
Mid, Senior Level
5+ years expFifth Third Bank is a financial institution seeking a Business Controls Manager to lead technology risk management efforts. The role involves establishing risk management processes, developing strategies for business controls, and ensuring compliance with regulations while fostering a positive customer experience.
BankingCommercial LendingFinanceFinancial ExchangesFinancial ServicesLendingMedia and EntertainmentMortgage
Responsibilities
Establishes a set of processes that include first line of defense risk limits, with policies ensuring that risks are effectively identified, measured, monitored and controlled, consistent with the Bank’s and LOB’s risk appetite statements
Assists Business Controls leadership with the development of strategies and the implementation of controls, policies and procedures to increase effectiveness and efficiency related to their respective business or functional area
Exercises judgment and influences senior business managers and peers to ensure enforcement of strong risk and governance management while balancing business strategy
Works with Business Controls leadership and LOB/function to translate business control strategies into actionable plans
Works with senior leadership to develop, implement and communicate the organization’s mission, goals and strategies regarding business controls within the Enterprise Risk Management (ERM) framework
Proactively manages the relationships with other internal business control groups and the second and third lines of defense (such as compliance, legal, enterprise risk and audit). Represents the LOB or function on appropriate Bancorp Risk governing committee
Highlights control breakdowns, inadequate processes, and unexpected events and implements corrective actions to address process and control deficiencies. Notifies management of changes to applicable Enterprise-level policies and risk limits
Leverages strong Regulatory knowledge to ensure compliance with all applicable laws, regulations, standards and requirements, including, but not limited to, OCC Heightened Standards. Responsible for a continual, forward-looking scan of industry, Regulatory and Legal trends and changes
Manages and provides comprehensive reporting that captures and prioritizes Key issues resulting from the business, control functions, audit or other internal and external sources
Quickly and efficiently resolves issues raised by the second and Third Lines of defense and external auditors
Effectively executes organization design and effectiveness to establish a structure that maximizes governance and productivity with the appropriate talent
Provides guidance and training on effective implementation and monitoring of the Enterprise risk management frameworks
Reviews policies for completeness and adherence to the Bancorp’s and LOB’s risk appetites, and ensures that policies are maintained centrally in the Policy Center
Leads execution of regulatory change management program to ensure applicable regulatory changes are identified, assessed against business processes, reported, and complied with
Reviews Self-identified issues submitted to determine alignment to LOB or functional area and assign Issue owner. Provides oversight, credible challenge and approval on severity. Actively participates in issue remediation
Builds testing for processes for applicable LOB or Function
Manages and Identifies operational risks in accordance with the ERM, ensuring that adequate internal Controls are in place to mitigate risks of all types
Partners with business managers in implementing RCSA standards and procedures and ensure quality, consistency, and sufficiency of implementation
Maintains a complete and current inventory of all the material processes, product Lines, services and functions, with the associated Key risks and their thresholds
Works with LOB to evaluate risks associated with new product and strategic initiatives prior to formal project review (‘is this within appetite’) and determines mitigating controls
Completes control implementation QA and post-implementation Review on in-scope initiatives
Completes data quality check, including coordinating resolution of data reconciliation issues; monitor action plan implementation and report operational loss data and trends to various management levels
Associates loss events with applicable RCSA risks/processes and coordinate root cause analysis and action plan evaluation with LOB
Provides oversight to overall LOB Supplier/Outsourcing strategy, participates in escalated issues that impact LOB process & involve supplier(s)
Reviews LOB business case for Outsourcing and challenge
Coordinates the Development of and reporting on risk dashboards, combining information tracked at the Enterprise level such as Key risk indicators, with information on top and emerging risks obtained through discussion with the functional managers
Provides guidance to line managers in identifying and monitoring Key risk indicators that represent early indicators of Key drivers of risk for the division
Executes on ERM Scenario Analysis risk management program
Advises on and approves Risk Acceptances identified in the LOB/Function
Develop and manage product inventory and execute on ERM product risk review program
May have additional responsibilities as assigned by LOB/Function leadership and Risk, including but not limited to:
Leadership of new government programs or special internal projects
Implementation and sustainability of new risk programs required by regulatory authorities or ERM
Active participation in diligence, closing, and other matters relating to acquisitions and strategic investments
Qualification
Required
Bachelor's Degree in Information Technology, management, related field or equivalent experience
Strong leadership, critical thinking and collaboration skills
Ability to influence peers, colleagues and managers across business and divisional Lines to take action on complex, technical or sensitive topics with companywide impact
Must be analytical and possess ability to interpret and apply policies and regulations across a large, complex business
In-depth business or functional expertise as well as knowledge of applicable policies and procedures
Broad working knowledge of banking products and operations
Excellent presentation and interpersonal skills
Working knowledge of Microsoft products
Preferred
Master's Degree
5 years of financial services industry, risk, business controls or compliance management experience
Benefits
Comprehensive benefits
Differentiated compensation offerings
Incentive compensation plan
Company
Fifth Third Bank
Fifth Third Bancorp is a financial services company that specializes in small business, retail banking, and investments. It is a sub-organization of Fifth Third Bank.
10001+ employees
Funding
Current Stage
Public CompanyTotal Funding
unknown1978-01-13IPO
Leadership Team
B
Bryan Preston
Chief Financial Officer
Maria Holmes
VP, Senior Manager Corporate Sponsorship
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