Regulatory Assurance, Vice President
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 Recovery and Resolution Planning (RRP), 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 group undergoing transformation 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 requirements
- Support executive management and the board by reporting on the effectiveness of key financial and regulatory processes
- Advise in the proactive identification of operational and compliance risks and effective mitigation strategies through effective business partnership
- Offer risk and control insights to improve business results predicated on collaborative business partnershipsReporting to a Managing Director, the Vice President will oversee the development and execution of a risk based annual plan designed to review and challenge the integrity of the regulatory reporting submissions. Since this is a global function, with a concentration of offshore resources in India, the Vice President will manage staff in multiple locations.
- Demonstrate effective executive presence, organization, communication, writing and presentation skills while coordinating with business team management to conduct control assessments and communicate results
- Play an instrumental role in fulfilling the continuous enhancement and effectiveness of the company's Regulatory Assurance program including leadership of current ongoing initiatives
- Assist in developing and maintaining program standards and ensuring accepted auditing and testing techniques are maintained
- Demonstrate effective leadership in coordinating with business teams and other assurance functions to enhance control standards and testing
- Demonstrate the ability to effectively partner with management to continually re-assess risks and controls
- Demonstrate skill in collaboratively developing solutions to minimize control exceptions
- Play a significant role in developing program scope and standards and assist in administration of the program
- Maintain and demonstrate strong auditing skills
- Stay current with business operations accounting and corporate functions developments to understand the potential impact on internal controls within areas of assurance responsibility
- Oversee the design and execution of assigned areas of reviews and assessments to ensure ongoing compliance with enterprise policies and standards and regulatory requirements with key constituency groups such as Regulatory Reporting, Product Controllers, Operations, Treasury, Technology and Risk
- Develop subject matter expertise in regulatory requirements best practices and expectations
- Identify and drive transformation efforts to continue to enhance the functionality of the Regulatory Assurance Program
- Providing day to day coaching and guidance to teammates
- Bachelors' degree in accounting finance or a related field
- CIA, CPA or CFA certifications or candidates preferred
- 10-12 years of Audit Risk or Compliance experience preferably at a large financial institution
- Extensive knowledge of banking products and services especially loans, deposits, securities and derivatives
- Strong understanding of current accounting and regulatory reporting principles and policies particularly FR Y-14, FFIEC 101, FR Y-9C and the Call Report.
- Deep understanding and appreciation of the internal control environment.
- Must be proactive and goal oriented strategic thinker with ability to identify creative solutions
- Staying current with evolving industry and regulatory changes and analyzing impact to external reporting process and compliance.
- Exceptional analytical and critical thinking abilities; able to develop and convey a point of view
- Demonstrated leadership capabilities with solid interpersonal skills and the ability to work collaboratively across all organizational tiers. A strong customer service mindset is a must.
- Able to communicate effectively both orally and in writing; good presentation analytical project management and consulting skills.
- Demonstrated ability to manage workloads and prioritize deliverables ability to be flexible