The Independent Testing & Validation team is responsible for the development and design of methodologies and standards for review activities across the Enterprise in alignment with the Risk Management Framework and ensuring effective and appropriate testing, validation, and documentation of review activities for risk programs, risks, and controls according to standards and other applicable policies.
About the Role
This role is in the Corporate Risk Market, Counterparty, Credit Risk testing team within Independent Testing & Validation (IT&V).
This is a centralized team, operates as a second line of defense key Corporate Risk processes and major requirements. The team is an integral part of the Company’s control environment and provides credible challenge to relevant participants in the reporting processes.
This team has enterprise-wide exposure to lines of business, regulatory and risk reporting stakeholders as well as internal audit.
of the Senior Associate role include, but are not limited to :
May lead moderate to high risk or complex testing engagements in a matrixed environment, and communicates emerging risks to management
Leading and supporting efforts to effectively challenge risks in the end-to-end reporting processes and evaluate controls designed to mitigate those risks
Partnering with business partners to understand the environment and related initiatives to develop appropriate and complementary testing procedures
Executing substantive outcome-based testing of regulatory and risk reports with limited supervision
Documenting test results and timely escalation of exceptions identified
Proactively communicating issues to stakeholders including ownership, while providing recommendations to management
Developing clear and concise reporting to be shared with IT&V management and Front Line Units
The successful candidate will be a team player and a self-starter who is accustomed to working in complex organizations, partnering with a diverse group of stakeholders, and achieving results.
Candidates with experience in market risk, counterparty risk, or credit risk. are encouraged to apply.
6+ years of relevant experience in risk reporting and risk management (includes compliance, financial crimes, operational risk, internal audit, legal, credit risk, market risk, counterparty risk, business process management) or 6+ years of financial services industry experience
4+ years direct experience in risk reporting and testing
Market Skills and Certifications
Knowledge and understanding of financial services industry : compliance, risk management, or audit operations
A BS / BA degree or higher in one or a combination of the following : Finance, Accounting, Analytics, or Reporting
Big four public accounting experience
A Master of Business Administration (MBA) or a Certified Public Accountant (CPA) designation. Ability to take on a high level of responsibility, initiative, and accountability
Ability to prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment
Ability to work effectively in a team environment and across all organizational levels, where flexibility, collaboration, and adaptability are important
Specialized knowledge or prior market risk, counterparty risk, credit risk testing or review experience
Experience reviewing testing strategies and methodologies; evaluating the adequacy and effectiveness of policies, procedures, processes, initiatives, products and internal controls;
and identifying issues resulting from internal and / or external compliance examinations
Intermediate Microsoft Office (Word, Excel, Outlook, and PowerPoint)
Ability to present results of analyses and recommendations to senior leaders or executives
OTHER DESIRED QUALIFICATIONS :
Experience supporting Regulatory Exams and Audits
Strong critical thinking skills with ability to credibly challenge status quo
Demonstrated success with influencing business units to identify, formulate and implement processes / procedures to mitigate risk
Demonstrated negotiation skills, especially with difficult topics when partnering with lines of business and technology.
This includes the willingness and ability to question decisions, understand direction and escalate issues, where necessary