Business Risk Officer - Loan Administration #5382
- Company: Bank OZK
- Updated: 10/8/2018
- Location: Ozark or Little Rock, AR
- Status: Full-Time
- Salary: DOE
- Job Level: 3-5 Years Experience
- Region: Central, Northwest
- Category: Banking/Finance, Finance
This position can be located in Ozark, AR at our Operations Center or Little Rock, AR.
The Business Risk Officer assists the line of business manage risk by coordinating risk management activities that support corporate programs and align with the business plans, providing advice and counsel on risk-related matters within the line of business, and actively participating in risk management efforts.
The position has familiarity with the line of business including:
Goals, objectives, and plans;
Products and services owned or managed by the line of business;
Policies and procedures;
Third party providers;
Applications and/or systems used in the performance of business line activities;
Quantitative models used in or relied upon by the line of business;
Laws and regulations that apply to line of business activities;
Information security requirements;
Business resilience requirements;
Line of business risks and associated controls in place to manage the risks.
The Business Risk Officer reports to the line of business executive or in some cases another senior leader, and also maintains an indirect reporting relationship to the Operational Risk Management (‘ORM’) team and the ORM Program Manager responsible for the initial and ongoing training of Business Risk Officers.
Level I assists Level II and III Business Risk Officers in the line of business with these job functions, and requires their guidance and training accordingly.
Essential Job Functions:
The position serves as the liaison between the line of business and the corporate risk and compliance management programs. The position may not be an expert in any one of the programs, but is expected to be involved in and coordinate with representatives from the line of business in the implementation, training, monitoring, and reporting of the following programs that apply to the line of business:
Enterprise Risk Management, for development of risk appetite statements, monitoring key risk indicators, and identifying current and emerging risks;
Operational Risk Management, for understanding and maintaining the inventory of business processes, facilitating and/or conducting risk and control assessments of processes, products, and projects, and identifying and reporting operational risk events and losses;
Third Party Risk Management, for understanding and maintaining the inventory of third party relationships, participating in due diligence reviews of new and existing third parties with the relationship owners, and monitoring service level agreements;
Corporate Compliance, for understanding and maintaining the inventory of all laws, regulations, and guidelines that apply to the line of business, understanding compliance procedures and controls within the line of business, assisting management with customer complaint analysis, and understanding the results of ongoing compliance monitoring;
Model Risk Management, for understanding and maintaining the inventory of models, tools, and user-developed applications, and assisting model owners with documentation and monitoring model performance;
Office of General Counsel, for understanding the legal risks in the line of business and mitigation strategies as outlined by Counsel;
Bank Secrecy Act (‘BSA’) Administration, for understanding procedures and controls associated with the Bank’s BSA, anti-money laundering, and Office of Foreign Assets Control programs, their applicability to the line of business, and the state of those controls;
Information Security, for recommending system access requirements and security controls, and the results of ongoing information security monitoring;
Business Resilience, for participating in the business impact analysis, updating business continuity plans and technology recovery plans, observing, participating in, and/or reviewing results of tests of business continuity and technology recovery plans, and supporting crisis management activities as needed;
Corporate Security, for assisting with internal and external fraud events and understanding the physical security controls and related matters within the line of business;
Finance, for understanding the line of business processes, controls, and procedures associated with Sarbanes-Oxley Act (‘SOX’) compliance;
Enterprise Stress Testing, for understanding the requirements of the Bank’s Enterprise Stress Testing Program, assisting line of business management with data preparation and certification, participating in scenario development, and understanding the stress test results (as applicable to the line of business);
Conducting risk assessments of new products and services, participating in implementation status meetings; and understanding project management methodologies of the Project Management Office;
Internal Audit, for gathering requested documentation and participating in audits of the line of business, as well as assisting in the preparation of responses to findings;
Examination Management, for gathering requested documentation and participating in federal and state exams of the line of business, as well as assisting in the preparation of responses to findings; and
Issues Management, for tracking and validating management’s corrective action(s) identified by corporate risk management monitoring activities, Internal Audit, regulatory examiners.
Participates in the development of business plans, participates in project status meetings, process and control design sessions, third party selections, system conversions, mergers and acquisition due diligence, and other line of business matters in which risks are discussed.
Communicates and escalates matters of significant risk to executives, senior leaders, business unit managers, and CRMG program managers.
Assists the line of business with policy and procedure development, maintenance, and reviews, and offers effective challenge where necessary.
Maintains the line of business risk management documentation within corporate databases, systems, and other Bank-wide reporting tools.
Supports the Board, executives, senior leaders, managers, CRMG, Internal Audit, and regulators with risk information, analyses, and insights into the line of business.
Delivers, or assists in the delivery of, risk education to the line of business.
Performs other risk management duties as required.
Knowledge, Skills & Abilities:
Ability to prepare high quality, Board-level written deliverables and presentations.
Proficient in Microsoft Excel, Word, and PowerPoint.
Strong interpersonal, communication, and analytical skills.
Creativity, critical thinking, initiative, and problem-solving skills.
Ability to accurately prepare policies, procedures, and training material, and identify and describe risks and related internal controls.
Ability to operate and work collaboratively in a fast-paced, unpredictable environment, with tight deadlines.
Ability to manage multiple work streams and deliverables, and coordinate across functional initiatives.
Ability to partner effectively with multiple business units, corporate functions, internal auditors, independent public accountants, and regulators.
Ability to extend influence within the line of business to achieve Bank and Corporate Risk Management objectives.
Subject matter expertise in the area of specialization including processes, products, services, projects, third parties, applications/systems, models, regulations, policies, procedures, and the associated risks and control environment.
Knowledge of statutory and regulatory requirements enforced by the FFIEC, FDIC, CFPB, and other relevant federal/state supervisory agencies applicable to the line of business.
Strong relationship management, collaborative problem solving, and communication skills.
Equipment Used in Job Performance/Working Environment:
Major Job Demands:
Occasional overnight travel
If not physically located with line of business personnel, available for regularly scheduled day trips to meet in person with line of business leaders and personnel.
Ability to work extended hours and weekends as needed.
Bachelor’s degree or commensurate work experience required.
Minimum of three (3) years of combined work experience in banking with specialization in one or more areas of the line of business required.
One (1) or more years of work experience participating and/or conducting risk assessments within the area of specialization, or one (1) or more years of work experience interacting with other risk and compliance programs within the area of specialization preferred.
Bank OZK is an equal opportunity employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, national origin, age, sexual orientation, gender identity, disability status, protected veteran status, or any other characteristic protected by federal, state, and local law. Member FDIC.
In order to be considered as an applicant for employment, you must first successfully apply on-line at: careers.peopleclick.com/careerscp/Client_BankOZK/external/jobDetails.do