Sr Business Unit Risk & Compliance Officer

Job Type

Full Time

General Description

This role will support in the identification, assessment, and management of issues that could affect operational, compliance, reputational, or strategic risks—particularly within different business line processes and controls. Enhance and execute first-line capabilities through risk identification and measurement activities. Provide internal audit, second line review and exam support on behalf of all divisions within the Retail and Business Solutions Group. Monitor compliance with applicable federal, state, and local laws and regulations, as well as corporate policies, procedures, and programs. Support requires changes in controls, processes and procedures due to new or enhanced regulations, laws or guidance. Monitor Exam, Internal Audit and second-line recommendations or findings, assist in implementing corrective actions, and ensure timely resolution. Provide support on first-line training programs targeting risks and controls topics

Essential Duties and Responsibilities

Issue Identification & Risk Assessment

• Identify operational, regulatory, and control issues within business units and supporting functions.
• Conduct thorough risk assessments to determine and understand the impact and severity of identified issues.
• Gather, analyze, and discuss information and data statistics with the supervisor to address timely matters that require attention.
• Support efforts to drive root cause analysis, remediation planning, and risk reporting, ensuring timely closure of identified issues.
• Perform or facilitate root cause analyses to uncover systemic issues and underlying process/control failures.
• Track open issues and corrective action plans to ensure timely remediation.
• Validate closure packages and support documentation to confirm sustainable resolution.
• Maintain governance around issue lifecycle activities in accordance with internal policies.
• Collaborate with business owners, control partners and second line of defense to define corrective actions.

Complaint or Claim Support

• Support in analyzing compliant issues or topics escalated for investigation and guidance.
• Coordinates, investigates, and responds to customer claims from regulatory agencies within established deadlines (CFPB, FRB & OCIF among others). Investigate and provide required documentation and draft responses. 
• Provide support to CRC in adequate management and response of claims.
• Ensure that prompt action is taken to address any identified deficiencies to comply with the applicable policies, procedures, and regulatory requirements. 

Essential Duties and Responsibilities (cont.)

Internal Audit, Second Line and Exam Support

• Support internal and external audit/regulatory exams or second line review requests, monitor recommendations or findings and ensure timely resolution, and assist in the documentation and responses.
• Assist in the implementation of corrective actions in response to Internal Audit, Second Line Reviews and Examination recommendations or findings.

Regulatory Changes and Controls Processes 

• Provide guidance and support in implementing changes in controls, processes and procedures due to new or enhanced regulations, laws or guidance.
• Ensure all processes and procedures comply with policies and regulations by partnering with all divisions within the Retail and Business Solutions Group.
• Support in the implementation of Control Frameworks (e.g., Risk Control Policy, Control Standard, Issue Management Policy, Lesson Learned Policy, and Control Inventory).
• Identify, assess, record, and respond to Compliance Risk events, ensuring accurate and timely capture per requirements.
• Apply identified rules, regulations, and laws to assist in designing and implementing proper controls.
• Identify risks and emerging trends through analysis of assessment results, key risk indicators, and risk event data.

Training Support and Liaison with Second Line

• Provide support on first-line training programs targeting risks and controls topics.
• Serve as liaison between the Business Risk and Controls Division and the Second Line on a range of compliance-related topics.

Education

Bachelor’s degree in business administration or related field.

Experience

Seven (7+) years of proven combined progressive experience in operational risk, business controls, compliance, internal audit, and/or legal in a banking or financial industry.  Seven (7+) years of experience in credit cards, deposits, loans or commercial banking products. 

Certifications / Licenses

Knowledge, Skills & Abilities (KSA's)

• Strong business acumen: ability to understand the needs and concerns of business stakeholders and colleagues and respond promptly and effectively to stakeholder requests. An ability to conduct analysis of work procedures and business results and recommend changes to improve the effectiveness of the business' management.
• Strong technical acumen: knowledge of banking products, services, policies, procedures, and regulations. Knowledgeable of applicable laws and regulations (e.g. FDIC, CFPB, OCIF), and/or demonstrated capacity to gain an understanding of all relevant details in regulatory framework that impacts the operation. Robust knowledge of applicable local and federal laws, regulations, and guidelines.
• Communication skills: effectively interact with internal and external stakeholders. Ability to foster trusting relationships with colleagues and clients. Highly develop written and verbal communications skills in English. Presents numerical data effectively. Superior communication and interpersonal skills. Excellent report-writing and presentation skills. Polished in preparing presentations, executive summaries, and business reports in English for executive audiences.
• Analytical skills: Stays focused on main issues, prevents irrelevant issues or distractions from interfering with timely completion of assignments. Collects, research and complements data; Synthesizes complex or diverse information. Demonstrates attention to detail; Applies design principles; Generate creative solutions. Strong quantitative, research and analytical skills. Experience with data analysis, persuasive and informative writing, workload management, and process management.

Knowledge, Skills & Abilities (cont.)

• Problem Solving: Identifies and resolves problems in a timely manner; Develops alternative solutions.
• Project Management: Ability to prioritize and work with multiple projects and tasks with minimum supervision; self-direct and task switch between strategic and tactical initiatives regularly. Capacity to achieve results according to plan ensuring the expected quality. Excellent organization capacity to define priorities, meet deadlines, and flexible to change. Knowledge of project coordination, identification of business needs, work plan, budget control, time management, resource allocation, team management and status reports. Must demonstrate leadership, logic, and reasoning skills. Strong understanding of Agile methodologies, particularly Scrum or Kanban.
• Operational/Regulations Processes: Knowledge of budget administration, resources allocation, organization’s policies, and regulations. Ability to establish, conduct and track operational processes properly.

• Computer and Technological Skills: Proficient in MSO 365. Experience with tracking and project management tools such as: JIRA; proficient in PowerApps and data visualization and design tools such as: Power BI, among others, is desired. Ability to achieve results by providing innovative ways of working with operational and technological considerations.

Region Locations

Puerto Rico

Work Schedule

Hybrid (3/2)

Values

Additional Requirements

The information provided here is only a general guide as to the nature of the position and does not constitute an exact description of the goals, tasks, duties, and responsibilities of the position. The specific details of each position are described in the employee’s performance evaluation.