Director Private Bank, Wealth Management, and Capital Markets Oversight

Job Description

The Director of Non-Financial Risk Oversight (NFRMO) has overall responsibility for independent review and credible challenge of the Front-Line Unit (FLU) non-financial risk management program.

In support of the independent risk oversight function, you will oversee FLU activities aligned with our key business lines and departments with a focus on the wealth management, Commercial capital markets, and the Private Banking business areas.

The Director role will provide oversight and challenge throughout the evolution of the business' products, services and cross-selling opportunities.

The expansion of business activities will cross multiple regulatory agencies including OCC Reg. 9, FRB, FINRA and SEC.

Will ensures the FLU establishes an effective "end-to-end" risk management program including risk identification, assessment and quantification, aggregation reporting, monitoring and control improvement for relevant products / services.

This role is also focused on ensuring the risk management framework and practices are implemented as set forth in the OCC Guidelines Establishing Heightened Standards and executed to comply with internal policy and US Regulatory requirements and expectations, while supporting a credible, principle-based risk strategy.

This role is accountable to ensure the FLU appropriately manages the risks relative to their business strategies and key products and services.

This includes all aspects of risk related to :

• challenge of business activities using independent reporting to assess control adequacy, key risk indicator trends, and risk identification through issue management.
• adequate design of risk appetite statements and corresponding challenge of key limits and metrics along with appropriate first line cascade
• evaluation of material risks and regulatory requirements of products and services along with the inherent, control environment, and residual risk
• prompt and effective implementation of relevant new and updated regulations in new or existing products and services, with proper engagement with Compliance, based on subject matter
• issue management through challenge of remediation plans stemming from Exams, Internal Audit, Second Line and / or self-identified issues
• assessment of emerging risks in relation to business products and services such as data management, fraud, and privacy

This leadership position drives a team of skilled, engaged and customer risk-focused colleagues with a broad span of responsibilities.

The role may be co-located as needed with the relevant business and must be actively engaged to support the business with providing domain-relevant advice, monitoring, and credible expert challenge to ensure the independent Non-Financial Risk Program is effectively implemented.

Responsibilities

As a manager of people, ensure your team has the skill sets, capacity, and stature to meet our mandate. Manage the ongoing acquisition, development, and retention of talent needed to deliver our strategy and position Citizens well within the market and for the future.

Provide leadership, expertise, and guidance to your team to drive adherence with internal governance, programs, and frameworks while to ensure consistent approach and oversight.

Demonstrate a continuous improvement mindset in the delivery and ongoing evolution of the NFRMO program. This includes ensuring the risk management framework, processes and practices are executed in line with the OCC Heightened Standards and comply with internal policy and US Regulatory requirements and expectations.

Support the accurate and complete delivery and retention of the program through your teams documentation of challenge, opinions, and assessments.

Where applicable, ensure the ongoing updates of NFRMO and Corporate Policies and Procedures in alignment with company guidelines and approval processes.

Will provide oversight content in support of key management reporting which provides senior leadership with insights, observations, and progress in the management of enterprise risk profile and control environment.

Oversight generated content may include quarterly business line opinions, material risk identification, and exam management engagement.

Serve as an independent credible challenge function to the FLUs, through active engagement in business, risk, and strategy activities.

Challenge will support key program elements of risk identification, assessment and quantification, key control testing and monitoring, new business initiatives, change and incident management, key risk indicators including appetite, operational loss, and control metrics.

Provide solutions on complex risk issues based upon understanding of business unit's activities and products & services.

Provide and document credible challenge of the first line risk programs, including (but not limited to) business initiatives, issue identification, Risk & Control Self Assessments, control monitoring and testing, and decision making relative to material risk decision making.

Partner and collaborate for success with management, FLUs, Compliance, Internal Audit, Regulatory Relations, and Legal colleagues to ensure timely identification, remediation and reporting, and escalation of existing, emerging issues and concerns.

Drive accountability, and work with the FLU to ensure a strong risk culture and control environment awareness.

Research and analyze risk trends and industry benchmarking to prepare for and monitor upstream risks and issues while reporting to executive management at various Risk Committees, as appropriate, on effective mitigation strategies.

Produce a quarterly divisional opinion, which outlines an independent perspective on the FLU risk profile and effectiveness of the control environment.

Required Experience

• 15+ years' experience Risk management experience from working in financial services industry
• 10+ years demonstrated domain expertise and experience with wealth management, commercial capital markets, and Private Banking
• Experience with OCC Reg 9, Volcker, FINRA, and broker dealer related activities
• Experience managing flow of information across public and private side business units
• Experience in an organization that is under strong regulatory oversight and scrutiny
• Proven ability to develop and maintain high impact relationships with senior executives
• Proven leadership and management skills in a professional environment
• Expert knowledge of internal controls and risk assessment
• Excellent business writing skills
• Influencing and conflict resolution skills
• Decisiveness and sound judgment on a consistent basis

Education / Certification :

• Bachelor Degree Required, Masters Degree Preferred
• Certifications Preferred : Certified Internal Auditor, Certified Regulatory Compliance Manager, Certified Public Accountant, Certified Investments Derivative Auditor, Certified in Risk and Information System Controls, or other relevant risk certifications, securities licenses (e.g., Series 6 or 7)

Hours & Work Schedule : Hybrid, 3 days in the office, 2 remote

• Hours per Week : 40
• Work Schedule : Monday-Friday

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About Us

Equal Employment Opportunity

At Citizens we value diversity, equity and inclusion, and treat everyone with respect and professionalism. Employment decisions are based solely on experience, performance, and ability.

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