Director, Business Risk & Controls Banking as a Service-Vendor/Tech

Description:

The Director, Business Risk and Control Officer is accountable for reviewing and assessing effective management and control of associated risks for Banking as a Service (Baas) . As the first line of defense, this role is responsible for recognizing and understanding the policies and regulatory guidance that apply to the business processes, understanding and maintaining ownership of the risks and for developing and implementing a sound, sustainable and effective control environment.

This position will collaborate with the second line of defense on efficient risk mitigation programs to manage key requirements by implementing control processes, performing report reviews on a specified cadence and reporting on the status of outstanding control issues. This role will drive activities aligned with work streams and activities required to lead the implementation of program required policies and procedures across all business lines. This includes all foundational risk components, risk identification, monitoring and assessment, and front-line monitoring initiatives. The position is also responsible for conducting all new BaaS partner onboarding activities related to risk, as well as the subsequent post onboarding reviews.

The incumbent of this role must demonstrate strong leadership and collaboration skills, possessing an aptitude for leading and influencing cross functional teams and s erve as the liaison between the first line business and risk functions in support of BaaS related implementations and ongoing operations. This person must also have the ability to gather and analyze information to drive decisions and communicate them effectively to stakeholders throughout the organization. This position requires someone who will push the envelope and drive change in a thoughtful and collaborative way across the entire organization.

Business Risk and Control

  • In conjunction with the business managers, develop, implement and maintain a strong risk and control culture within the business unit. Develop, manage and support multiple risk and control programs for the business unit including defining the strategy, approach, processes, quality, tools and reporting that provide risk management consistency and excellence. Work collaboratively as a member of the Digital Banking leadership team to develop a risk-based approach to partnership oversight.
  • Provide guidance and work closely with the business leaders to establish alignment with the BaaSRisk Framework, Playbook and Operating Model. Implement and design QA/QC processes to support the monitoring of the included activities, to ensure risk mitigants are upheld.
  • Business Partner Oversight - administer onboarding activities, ongoing performance reviews and unwinding activities, as needed. Monitor control assessment deliverables to ensure service level agreements stated within contracts are being met. Assess and mitigate risks associated with new partner onboarding. Perform end-to-end risk review performance reporting.
  • Develop procedural implementation and change management process with the business unit to ensure proper governance and controls exist for partnerships. Examine procedures for consistency and gaps relative to regulations and ensure consumer impacts are addressed.
  • Proactively counsel BaaS business line leaders on new and emerging risks and how to address within the BaaSRisk Framework. Appropriately assess risk when business decisions are made, demonstrating particular considerations for the company's reputation and safeguarding the bank, its clients and assets by driving compliance with applicable laws, rules and regulations, adhering to policy, applying sound ethical judgment regarding personal behavior, conduct and business practices.

Governance and Reporting

  • Administer activities associated with the design, implementation and ongoing maintenance of periodic reports to the business leadership comprised of the Control Assessment review results. Leverage data to ensure control assessment requirements and the required oversight is performed accurately and on time.
  • Develop and maintain qualitative and quantitative reporting that will be shared, reviewed by business leaders and regulators. Clearly articulate review results and any recommendations with a compelling articulation of how they the recommendations enable the success of the BaaS program.
  • Establish a control health check for all partner documentation that demonstrates adherence to all applicable BaaS requirements and to ensure compliance with the BaaS Risk Framework are being met. Self-identify and resolve any issues as the first line. Ensure expedient and effective remediation for any issues identified from all sources (self-identified, compliance or risk, internal audit, regulators, external or generated by partners).
  • Adhere all service level agreements with internal partners to ensure a safe and sound program. Provide optimal service to partners to ensure successful relationship management.

Compliance Education

  • Maintain a detailed, current working knowledge of applicable sponsor bank regulations.
  • Employ an approach that translates risk management practices into digestible objectives that both the business line and risk teams can understand and appreciate.

Team Accountability

  • Support continuous improvement principles by actively participating in internal and cross- functional group discussions and process walks, identifying issues/potential solutions, participating in root cause problem solving sessions and recommending improvements to work procedures and other process tools/templates.

Ensure compliance with all regulations, policies, and procedures.

Qualifications:

  • 8+ years of experience in risk management (includes compliance, financial crimes, operational risk, audit, legal, credit risk, market risk, IT systems security, business process management)
  • Deep knowledge of Banking risk requirements, required; BaaSPartnership constructs, preferred
  • In-depth working knowledge of risk management processes, including risk measurement and issue management
  • Experience with regulatory reporting and ideally regulatory interactions
  • Experience working horizontally across an organization and participating in enterprise-wide implementations of major policy and relevant risk programs
  • Extensive practical knowledge of MS Office tools (Excel, Word, PowerPoint)
  • Candidates with advanced degrees (Associates, Bachelor's, and/or Master's) preferred, yet a High School diploma or GED is required. Candidates with some combination of coursework and experience, or else extensive related professional experience, are eligible for consideration
  • Ability to fluently articulate strategy and operations; translating organizational strategies into clear objectives and action
  • Deep understanding of ever-evolving governance processes and regulatory environments in the area of BaaSand banking industry
  • Technical experience in BaaS
  • Must have the ability to construct creative solutions while remaining strategic and tactical
  • Strong business orientation, track record of balancing risks versus rewards and maximizing the cost effectiveness and profitability for the business.
  • Data driven and analytical, while also being a creative thinker.
  • Excels at managing multiple initiatives simultaneously within tight deadlines.
  • Strong analytical, problem solving and planning skills.
  • Strong communications, both verbally and written. Ability to influence others and establish/maintain collaborative relationships.


About Us:

At Sterling National Bank, we rely on diversity of culture and thought to deliver on our goals. To ensure this we seek talented, qualified people for all of our career opportunities, regardless of race, color, sex/gender, including pregnancy, gender identity and expression, national origin, religion, sexual orientation, disability, age, marital status, veteran status, or any other protected classification under federal, state and/or local laws. Sterling National Bank is proud to be an Equal Employment Opportunity/Affirmative Action Employer providing a drug-free workplace.

**All Applicants must be eligible to work in the U.S. without company sponsorship, now or in the future, for employment-based work authorization. H1-B and green card sponsorship is not available for any position and we will not consider F-1 visa holders with Optional Practical Training (OPT) who will require H-1B status, TNs, or current H-1B visa holders for employment opportunities.**

All offers for employment with Sterling National Bank are contingent on successful completion of background investigation, including drug and fingerprint screening.

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