Business Controls Manager - Commercial and Payments IT

Fifth Third Bank • Cincinnati, OH

23d • Onsite

About The Position

Fifth Third Bank is undergoing a significant technology modernization, aiming to transform its Commercial and Payments businesses through scalable platforms, cloud-native capabilities, and modern engineering practices. This role is crucial in supporting these efforts by ensuring that innovation within the Commercial IT and Payments IT teams, including AWS-powered services, is conducted securely, responsibly, and within the bank's risk appetite. The Business Controls Manager will act as the first line of defense, focusing on identifying, assessing, mitigating, and managing risks associated with these platforms and processes. This highly visible position involves close collaboration across Commercial Banking and Treasury/Payments lines of business to ensure transparency in operating issues, risks, and opportunities, and to maintain sound governance and oversight of business activities. The role also requires an understanding of the industry, market, and regulatory environment to anticipate changes and align with potential business scenarios.

Requirements

• Bachelor’s degree in a related field or equivalent experience required; degree in Computer Science, Cyber Security, Information Systems, or a technology-related field preferred.
• 5 years of financial services industry, risk, business controls or compliance management experience preferred.
• Strong leadership, critical thinking and collaboration skills required.
• Working knowledge of payments ecosystems (ACH, wires, real-time payments), commercial platforms, cloud computing concepts, and technology-enabled business processes.
• Ability to influence peers, colleagues and managers across business and divisional Lines to Take action on complex, technical or sensitive topics with companywide impact.
• Must be analytical and Possess Ability to interpret and apply policies and regulations across a large, complex business.
• In-depth business or functional expertise as well as knowledge of applicable policies and procedures required.
• Broad working knowledge of banking products and operations required.
• Excellent presentation and interpersonal skills required.
• Working knowledge of Microsoft products required.

Nice To Haves

• Master’s degree preferred.
• For Investment Advisors: FINRA Series 7 and 63/66 licenses preferred.
• Knowledge of the Securities industry and SEC / FINRA regulations is preferred.
• AWS Certified Solutions Architect or AWS Certified Security – Specialty
• Certified Information Systems Security Professional (CISSP)
• Certified Information Security Manager (CISM)
• Certified Information Systems Auditor (CISA)
• Certified Cloud Security Professional (CCSP)
• Certified in Risk and Information Systems Control (CRISC)
• ITIL, COBIT, or other technology risk, audit, or governance-related certifications

Responsibilities

• Establishes a set of processes that include first line of defense risk limits, with policies ensuring that risks are effectively identified, measured, monitored and controlled, consistent with the Bank’s and LOB’s risk appetite statements.
• Assists Business Controls leadership with the development of strategies and the implementation of controls, policies and procedures to increase effectiveness and efficiency related to Commercial IT and Payments IT platforms and technology-enabled processes.
• Exercises judgment and influences senior business managers and peers to ensure enforcement of strong risk and governance management while balancing business strategy.
• Works with Business Controls leadership and Commercial Banking and Treasury/Payments LOB/function to translate business control strategies into actionable plans.
• Works with senior leadership to develop, implement and communicate the organization’s mission, goals and strategies regarding business controls within the Enterprise Risk Management (ERM) framework.
• Proactively manages the relationships with other internal business control groups and the second and third lines of defense (such as compliance, legal, enterprise risk and audit).
• Represents the Commercial IT and Payments IT on appropriate Bancorp Risk governing committee.
• Highlights control breakdowns, inadequate processes, and unexpected events and implements corrective actions to address process and control deficiencies.
• Notifies management of changes to applicable Enterprise-level policies and risk limits.
• Leverages strong Regulatory knowledge to ensure compliance with all applicable laws, regulations, standards and requirements related to Payments, Commercial Banking technology, cloud computing, cybersecurity, and technology operations, including OCC Heightened Standards.
• Responsible for a continual, forward-looking scan of industry, Regulatory and Legal trends and changes.
• Manages and provides comprehensive reporting that captures and prioritizes Key issues resulting from the business, control functions, audit or other internal and external sources.
• Quickly and efficiently resolves issues raised by the second and Third Lines of defense and external auditors.
• Effectively executes organization design and effectiveness to establish a structure that maximizes governance and productivity with the appropriate talent.
• Provides guidance and training on effective implementation and monitoring of the Enterprise risk management frameworks.
• Reviews policies for completeness and adherence to the Bancorp’s and LOB’s risk appetites, and ensures that policies are maintained centrally in the Policy Center.
• Leads execution of regulatory change management program impacting payments processing, commercial platforms, and technology infrastructure to ensure applicable regulatory changes are identified, assessed against business processes, reported, and complied with.
• Reviews Self-identified issues submitted to determine alignment to Commercial IT and Payments IT and assign Issue owner.
• Provides oversight, credible challenge and approval on severity.
• Actively participates in issue remediation.
• Builds testing for processes for applicable LOB or Function.
• Manages and Identifies operational risks in accordance with the ERM, ensuring that adequate internal Controls are in place to mitigate risks of all types.
• Partners with business managers in implementing RCSA standards and procedures and ensure quality, consistency, and sufficiency of implementation for payments products, commercial services, and supporting systems and processes.
• Maintains a complete and current inventory of all the material processes, product Lines, services and functions, with the associated Key risks and their thresholds.
• Works with LOB to evaluate risks associated with new product and strategic initiatives prior to formal project review (‘is this within appetite’) and determines mitigating controls.
• Completes control implementation QA and post-implementation Review on in-scope initiatives.
• Completes data quality check, including coordinating resolution of data reconciliation issues; monitor action plan implementation and report operational loss data and trends to various management levels.
• Associates loss events with applicable RCSA risks/processes and coordinate root cause analysis and action plan evaluation with LOB.
• Provides oversight to overall LOB Supplier/Outsourcing strategy, participates in escalated issues that impact LOB process & involve supplier(s).
• Reviews LOB business case for Outsourcing and challenge.
• Coordinates the Development of and reporting on risk dashboards, combining information tracked at the Enterprise level such as Key risk indicators, with information on top and emerging risks obtained through discussion with the functional managers.
• Provides guidance to line managers in identifying and monitoring Key risk indicators that represent early indicators of Key drivers of risk for the division.
• Executes assigned components of the ERM Scenario Analysis program, including technology, cyber, and digital disruption scenarios.
• Advises on and approves Risk Acceptances identified in the LOB/Function.
• Develop and manage product inventory and execute on ERM product risk review program.
• May have additional responsibilities as assigned by LOB/Function leadership and Risk, including but not limited to: Leadership of new government programs or special internal projects.
• Implementation and sustainability of new risk programs required by regulatory authorities or ERM.
• Active participation in diligence, closing, and other matters relating to acquisitions and strategic investments.
• Responsible for providing employees timely, candid and constructive performance feedback; developing employees to their fullest potential and providing challenging opportunities that enhance employee career growth; developing the appropriate talent pool to ensure adequate bench strength and succession planning; recognizing and rewarding employees for accomplishments.

Benefits

• Comprehensive benefits
• Differentiated compensation offerings
• Incentive compensation plan
• Extensive benefits programs designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager