BRCO Risk Partner Lead - Payments Servicing & Onboarding

BRCO Risk Partner Lead

The Business Risk and Control Officers (BRCO) play a pivotal role in guiding the business to identify and understand risk exposures and the controls needed which are integral to reducing risk and safeguarding our customers and colleagues.

BRCOs are critical to the success of the Risk Management Lifecyle and play a role in Planning, Identifying, Assessing, Mitigating, Monitoring, and Reporting. BRCOs are members of the First Line of Defense (1LOD) who :

• Provide leadership and coaching to the 1LOD to proactively identify and effectively manage risks.
• Translate and educate 1LOD to enable and drive business relevant implementation of Second Line of Defense (2LOD) risk management frameworks, policies, taxonomies and inventories.
• Review, validate, and test 1LOD activities to ensure adequate control design and effective control operation.
• Provide credible challenge to 1LOD colleagues, ensuring safeguard and risk mitigation measures are upheld in decision making and adherence to 2LOD frameworks and policies prior to 2LOD review.
• Drive two-way collaboration across 1LOD and 2LOD; liaise between 1LOD and 2LOD to drive engagement throughout the risk management lifecycle.
• Collaborate and coordinate across the organization to help navigate and mitigate horizontal risk promoting resilience and ensuring safety and soundness.
• Document, aggregate and report risk in accordance with the risk management lifecycle.
• Engage with 1LOD on the development and design of implementing new controls as well as changes to existing processes.
• Develops options and actions for control owners to perform that will result in improved controls and greater control effectiveness.
• Monitors controls, including advising on appropriate monitoring structures and conducts thematic analysis providing insights on drivers of risk and emerging risks.

Job Responsibilities :

Business Partnerships :

Develops and maintains partnerships with the Line of Business process owners to provide end-to-end thought leadership through strategic consulting and providing expertise in control design that can lead to early identification and sustainable mitigation of risks.

Design Controls :

Monitoring and Analyzing of Controls :

Control Assessment Participation :

Other duties as assigned