BRCO RCSA Lead

Comerica • Full-time • Frisco, TX, US • 2m ago

BRCO Risk Control and Assessment (RCSA) Lead

The Business Risk and Control Officers (BRCOs) play a pivotal role in guiding the business to identify and understand risk exposures and the controls needed which are integral to reducing risk and safeguarding our customers and colleagues. BRCOs are critical to the success of the Risk Management Lifecyle and play a role in Planning, Identifying, Assessing, Mitigating, Monitoring, and Reporting. BRCOs are members of the First Line of Defense (1LOD) who:

Provide leadership and coaching to the 1LOD to proactively identify and effectively manage risks.
Translate and educate 1LOD to enable and drive business relevant implementation of Second Line of Defense (2LOD) risk management frameworks, policies, taxonomies, and inventories.
Review, validate, and test 1LOD activities to ensure adequate control design and effective control operation.
Provide credible challenge to 1LOD colleagues, ensuring safeguard and risk mitigation measures are upheld in decision making and adherence to 2LOD frameworks and policies prior to 2LOD review.
Drive two-way collaboration across 1LOD and 2LOD; liaise between 1LOD and 2LOD to drive engagement throughout the risk management lifecycle.
Collaborate and coordinate across the organization to help navigate and mitigate horizontal risk promoting resilience and ensuring safety and soundness.
Document, aggregate and report risk in accordance with the risk management lifecycle.

The Business Risk and Control Office (BRCO) RCSA Lead for the Line of Business is responsible for leading a team to identify and assess risks as well as manage issues within 1LOD. Key responsibilities include:

Surveys threats in the internal and external environment to identify risks that are reasonably expected to materially impact our ability to achieve business and strategic objectives.
Analyzes identified risks for causes and consequences and documented in a comprehensive risk inventory.
Establishes and executes processes to evaluate the severity and likelihood of risks as the basis of inherent risk ratings and risk prioritization, which in turn informs the development of effective risk management strategies.

Position Responsibilities:

Risk Identification

Governs, educates, and drives 1LOD (Assessment Unit (AU) Owner) accountability for identifying and categorizing risks.
Applies knowledge of the business to ensure that 1LOD colleagues capture relevant and meaningful risks.
Reviews internal and external environment to identify risks expected.
Credibly challenges 1LOD colleagues on quality and completeness of risk identification approach and outputs (e.g., list of identified risks, completed templates).
Advises, oversees, and credibly challenges 1LOD colleagues on appropriately monitoring for and identifying emerging risks.
Coordinates across 1LOD divisions for identification and analysis of horizontal risk.
Documents Risks and Controls according to enterprise standards.

Risk Assessment

Leads, facilitates, and drives execution of the risk assessment process within 1LOD.
Establishes and executes processes to evaluate the severity and likelihood of risks.
Drives engagement with 2LOD throughout the risk assessment process.
Ensures 1LOD adherence to common standards and methodologies for risk assessment.
Collaborates with 1LOD colleagues to source data and complete analyses to support risk assessment outputs.
Credibly challenges 1LOD colleagues on quality and completeness of their risk assessment approach and key outputs, including inherent risk ratings.
Develops and articulates a clear view of the highest priority risks within its 1LOD division.
Coordinates across 1LOD divisions for assessment of horizontal risk.
Provides credible challenge within 1LOD on identifying changes that trigger the change management process.

Inventory of Controls and Issue Management

Maintains current and accurate inventory of identified risks and related controls (living document); includes risk assessment, risk ratings, process documentation, etc.
(On some BRCO Teams) Provides Issue Management oversight and ensures timely closure of identified issues.

Business Partnering

Partners and engages with relevant business partners at varying levels in the organization to develop and maintain a strong control environment through effective RCSA execution and related activities that lead to early identification and sustainable mitigation of risks.
Drives a strong enterprise risk culture by fostering rigor and discipline focused on risk and compliance awareness, ethical business practices, transparency, and escalation.
Learns continuously about the line of business to strengthen subject matter expertise and provide more valuable application of risk identification and assessments.
Collaborates with and supports other BRCO team members to ensure a robust and comprehensive implementation of 2LOD frameworks within 1LOD.

A successful candidate will have the following knowledge and/or skills:

Demonstrated knowledge of banking industry products, services, and workflows.
Strong familiarity with critical business processes and controls, as well as overall business needs and objectives, for the Line of Business.
Strong track record of driving timely and effective issue resolution in a financial services context.
Deep expertise and ability to educate colleagues on risk management, controls, and compliance concepts, frameworks, and policies.
Ability to establish authority, influence stakeholders, and productively debate issues (e.g., credible challenge) at all levels including without direct reporting responsibility.
Ability to build strong relationships and engage constructively in a proactive and transparent. approach with cross-functional stakeholders, to challenge status quo and drive buy-in to achieve common goals.
Ability to clearly and effectively communicate, including ability to summarize and explain complex findings and issues to a wide range of audiences.
Ability to apply sound judgment and appropriately escalate concerns and issues.
Ability to demonstrate managerial courage and inspire colleagues across the organization to embrace change.
Ability to gather, analyze and interpret large datasets from various sources.
Strong analytical and critical thinking skills with high attention to detail and accuracy.
Ability to manage multiple tasks and projects, prioritize work, meet deadlines, achieve goals, and work under pressure in a dynamic and complex environment.
Self-starter, able to work independently, flexible and can navigate a complex organization.

Position Qualifications

Bachelor's degree from an accredited university or a High School Diploma or GED and 6 years of Risk Management or other related experience in the Financial Services Industry
6 years of experience in Risk Management, Compliance, Audit, or related field
5 years of experience in designing, implementing, and enhancing risk assessment process and methodologies
Strong understanding of various risk types/pillars, risk management, controls, and compliance concepts and frameworks
Project support/project management skills - ability to provide direction, track progress and ensure alignment with program requirements
Proficient in risk management software, MS Office Suite, and other related technology tools
Strongly Preferred: 4 years of experience in Financial Services industry and/or knowledge of Business Line products, services, and business processes
Preferred: Experience working for or with (significant interactions) regulatory agencies