Basic Purpose of Job:
The Financial and Regulatory Assurance (FRA) department is a second line of defense group in the Controller’s Organization within Corporate Finance. The Regulatory Assurance team is responsible for the independent verification of controls and processes over global regulatory reporting, including Basel, Comprehensive Capital Analysis and Review (CCAR)), and areas of high risk and enhanced regulatory focus. The primary focus of the team is the review and assessment of the quality of information pertaining to reporting, compliance with relevant regulations and the assessment of relevant risk management programs. The team works closely with other functions across Finance, Global Treasury, Risk Management and Business Units, as well as other assurance functions. This is an opportunity to join a growing group and actively participate in its development and maturity, to learn about key current regulatory requirements and gain an understanding of all areas of the company’s business
FRA has a mission to: Provide credible challenge to management to drive compliance with regulatory and policy requirementsSupport executive management and the board by reporting on the effectiveness of key financial and regulatory processesAdvise in the proactive identification of operational and compliance risks and effective mitigation strategies through effective business partnershipOffer risk and control insights to improve business results predicated on collaborative business partnerships
Key Responsibilities: Execute a framework to test if the internal systems supporting compliance with regulatory requirements and expectations are properly designed, documented and implemented and include appropriate governance and data quality controlsReview and provide feedback on deliverablesPerform risk assessments to identify areas requiring detailed testingLead and participate in reviews, including assessing the internal control environment, developing testing strategies and reviewing control and sample data testingLead and participate in discussions with process and control owners to assess inherent risks, identify controls and control gaps, by conducting walkthroughsChallenge, assess, detail test the design and operating effectiveness of controlsIdentify, document and maintain evidence supporting process and controls objectivesLead the identification and risk assessment of issues and work with management to track issues to resolutionDraft recommendations and liaise with the business units to remediate risks, findings and gaps identified during the validation processProvide updates to management as neededEngage key business partners to facilitate completion of assigned deliverables and explain resultsCultivate relationships across the Finance organization and Corporation with key constituency groups, such as Regulatory Reporting, Product Controllers, Operations, Treasury, Technology and RiskDevelop subject matter expertise in regulatory requirements, best practices and expectationsIdentify and drive transformation efforts to further enhance the functionality of FRA as a second line of defense teamProvide day to day coaching and guidance to teammates
Education and Experience: Bachelor’s Degree in Accounting, Chartered Accountant (CA) and/or Certified Public Accountant (CPA) with 8-10 years of progressive auditing experience; preferably financial services and/or Big 4 Certified Internal Auditor (CIA) / Chartered Financial Analyst (CFA) certification or candidate is a plusFamiliarity with FRB regulations and SEC requirements associated with the Financial Services IndustryKnowledge/work experience in IT General control testing and Data Analytics is a plus
Skills/ Knowledge: Deep understanding and appreciation of the internal control environmentKnowledge of banking products and services, especially loans, deposits, securities and derivativesAuditing skills and experience in the review and interpretation of regulatory requirementsExceptional analytical and critical thinking abiliites; able to develop and convey a point of viewStrong oral and written communication skills; ability to effectively challenge and influenceDemonstrated leadership capabilities with solid interpersonal skills and the ability to work collaboratively across all organizational tiers. A strong customer service mindset is a mustMust be proactive and a goal oriented strategic thinker with ability to identify creative solutionsDemonstrated ability to manage workloads and prioritize deliverables; ability to be flexibleStrong attention to detail and accuracyAbility to multi-task and take on a challenging workload and assignmentsAbility to be proactive with minimal direction, ability to work independently and meet deadlinesAbility to thrive in a team environment, working collaboratively with othersInquisitive and curious about business and functions, strong desire to learnHigh energy and positive attitudeProfessionalism, dependability, integrity and trustworthiness combined with a cooperative attitude.
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