Head of Operational Risk, FinTech Banking

Description

Who We Are Cross River is a highly profitable fast-growing financial technology company recognized for the third year in a row by CB Insights as one of the 250 best global fintechs. Our comprehensive suite of innovative products powers financial solutions with a strong focus on regulatory compliance for our partners and their millions of consumers around the world. We are on a mission to build the infrastructure that propels access, inclusion and the democratization of financial services. While our company has tripled in size over the last three years, our strong sense of purpose led Cross River to be named to American Banker’s list of Best Places to Work in Fintech for the last 4 consecutive years. The reason for this success is simple --- our nimble, adaptive, and collaborative family culture lives in every member of our growing team. Together we are at the forefront of technology and innovation in financial services and we invite collaborative and motivated high performers to join our rapidly expanding team. What We're Looking For The Head of Operational Risk, FinTech Banking’s primary function is to implement an effective control framework across the FinTech Banking organization to identify and remediate control issues with a sense of urgency regardless of the source. The Team partners with all other control disciplines, adding an additional line of defense supporting Compliance, Legal, Risk, Finance, Third Party Audit and Internal Audit. The Control Office works in partnership on the development of new, and oversight of existing, control functions and protocols throughout FinTech/Consumer Banking and provides a centralized view of and from all control functions, assisting in immediate, real time problem detection and escalation. The First Line of Defense Manager will work with MarketPlace Business partners to develop the control framework for the Branch Network. Work in partnership with the business and other control groups to provide guidance in the identification, assessment, management and resolution of operational and regulatory risks. Responsibilities include oversight and examination of operational and quality control for FinTech Banking products, processes and activities including review and consultation on scope, sampling, testing, reporting and effectiveness of controls This person is expected to establish sound relationships that facilitate constructive problem solving and innovative solutions with lines of business. Responsible for supporting, executing and managing deliverables focused on governance and reporting to ensuring that the first line of defense business units effectively manage operational, compliance and enterprise risk leveraging a risk based approach within the risk appetite. Accountable for accurate reporting available to all Accountable Executives on a minimum monthly basis on process of executing the task of risk management framework requirements, as well as reporting on the risk exposure to be included in Business Unit Risk Reporting as well as sub-Internal Control Committee and other relevant committees. Provide support to the designated business and coordinate all first line risk activities Act as the main point of contact for 2nd line of defense Risk Management Provide risk management training and education to help maintain a strong risk culture Carry out risk-based reviews and ensure current processes are effective and in line with risk appetite Ensure a robust control environment and attend Risk & Control forums Identify potential issues arising from deep dive reviews and scenario analysis Create Operational Risk Reporting to keep senior management up to date Effectively partner with lines of business to solicit information and to mitigate risk Effectively partner with lines of business to build out Quality Standards and assist in the Quality Control Procedure writing process Analyze data and reports to derive performance improvement opportunities, isolate root causes, and collaborate on viable solutions to drive variation out of operational processes Define, validate and track key operational performance metrics Develop and publish reports necessary to assure operational effectiveness Demonstrate proficiency in accessing systems, platforms, applications and data repositories in multiple lines of business Demonstrate a strong sense of urgency in responding to escalated issues, rapidly changing priorities and adverse performance Supports audit and exam management from preparation to initial letter request and kick off to management response through finding remediation Role scope spans all aspects of risk management framework including but not limited to risk control self-assessment (RCSA/RCRA), issue self-identification, business continuity management, third party management, control environment, governance documents (policies/procedures), key risk indicators, information security, cyber security, internal fraud, external fraud, audit management, exam management, data management and access management Interacts with external examiners and coordinates with internal audit and Corporate Compliance Testing within position’s area of focus. Performs other duties as assigned. Oversee the preparation and distribution of regular/special management reports on regulatory and operational risk compliance and the department’s activities. Manages a team of staff responsible for regulatory and/or program activities related to Bank regulations, governance and reporting. Develops and provides MIS and reporting resulting from monitoring or program activities. Participates as requested in committees and work groups to identify, research, and report issues to the committee to resolve as appropriate including but not limited to the Internal Control Committee (ICC) and New Activities Committee (NAC) Review/approve data compiled for analysis or dashboards. Monitor for Business Unit adherence to Bank ACR requirements. Maintain risk systems of record. Communicate and monitor KRI, KSP, and other risk metrics. Supports operational business unit leaders and functions in the management and execution of activities related to operational, compliance and enterprise risk management programs Executes all aspects of risk management framework including risk assessment, identification, monitoring, mitigation, remediation, reporting and escalation and centralized reviews to effectiveness and efficiency of business unit internal controls. Includes independent testing, documentation, objective evaluation, verbal discussion and reporting Exhibits leadership qualities and actions which create a way for team members to contribute to making extraordinary outcomes in the firm a reality Partner with process owners and process managers to identify and drive process improvements in highly complex and risk areas to maximize efficiency, quality and customer experience Manage a team using continuous feedback to both hold employees accountable for their actions and/or poor performance to further develop their strengths and abilities with clarity of role responsibilities and goals Maintains process documentation and tools for execution of responsibilities Ensures activities are performed accurately, thoroughly, and in accordance with changing business risk appetite, dynamic regulatory, operational risk requirements, and/or industry best practices; and activities meet timeframe standards Driven to meet or exceed specific goals and objectives as quickly as possible; focused on results and will leverage resources available and solve problems creatively to get the job done Reviews, analyzes and makes recommendations to the design and implementation of operational and compliance activities so they are dynamic with new regulatory, corporate, and process requirements Maintains emerging trends and changes across financial services industry on emerging risk and changing landscapes Maintains current knowledge of related banking activities, and operational risk management and regulatory compliance requirements for financial institutions; Attends professional seminars and participates in Bank operational risk management and regulatory compliance forums Visibly and consistently demonstrating behaviors and standards which promote the desired risk culture of the firm Qualifications Bachelor's or advance degree in business, or related field preferred 7 or more years of experience in a senior level operational risk management or analytics required 5 years of compliance, reputational and operational risk experience preferred Self-motivated and confident decision-maker with the ability to demonstrate leadership, challenging and influencing change where necessary Experience implementing Quality Standards and writing Quality Control Procedures preferred Strong Microsoft Product skills required Strong problem solving skills required Strong interpersonal and analytical skills required Polished verbal and writing skills required Experience working under time pressure and deadlines Experience identifying reputational, legal and operational risk concerns Flexibility and ability to work in a fast-paced environment where priorities shift rapidly Ability to deal with highly confidential information in a professional manner Knowledge of the Consumer Bank business and related operational processes desired #LI-MB1 Cross River is an Equal Opportunity Employer. Cross River does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need. By submitting your application, you give Cross River permission to email, call, or text you using the contact details provided. We will only contact you with job related information.

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