Business Controls Senior Associate - IT Risk

Fifth Third Bank • Cincinnati, OH

5d • Onsite

About The Position

As a first line of defense, the Business Controls Senior Associate conducts analysis to identify, assess, mitigate, and manage risks associated with changing laws, regulations, regulatory guidance, and stakeholder expectations. The role supports the advancement of risk-management structures, processes, and tools within the organization’s Enterprise Risk Management (ERM) framework, and transforms data into business intelligence for stakeholders. It monitors and manages risks, validates program effectiveness, and supports compliance across assigned business or functional areas and Bancorp initiatives.

The position works with business leaders and partners across Legal, Compliance, Enterprise Risk, Audit, and other control groups to identify operational risks, implement and test controls, address deficiencies, and support issue remediation. It also contributes to regulatory change management, risk assessments, indicator monitoring, supplier and outsourcing reviews, scenario analysis, and product risk reviews. The role is based in Cincinnati, Ohio.

Requirements

• Bachelor’s degree or equivalent experience; a related field is preferred.
• Professional verbal and written communication skills, including the ability to communicate discreetly when confidentiality is needed.
• Analytical ability and skill in interpreting and applying policies and regulations across a complex business.
• Ability to proactively identify opportunities and build trusting strategic internal and external relationships and networks.
• Collaborative and approachable interpersonal skills, with the ability to influence others.
• Ability to thrive in a fast-paced, dynamic environment and shift priorities quickly on short notice.
• Working knowledge of Microsoft Office products.
• Ability to work with minimal supervision.

Nice To Haves

• Master’s degree in a relevant field.
• Five or more years of experience in financial services, risk, business controls, or compliance.
• For Investment Advisors, FINRA Series 7 and Series 63/66 licenses.
• Knowledge of the securities industry and SEC/FINRA regulations.

Responsibilities

• Assist Business Controls leadership in developing complex strategies and implementing controls, policies, and procedures to improve effectiveness and efficiency.
• Provide stakeholders with expertise and analysis related to risk identification, assessment, control, monitoring, testing, and reporting.
• Investigate and assist with root cause analysis of actual or potential operational losses.
• Gather and integrate information from multiple sources, identify issues and opportunities, and detect trends and cause-effect relationships.
• Stay informed of industry best practices and regulations and support compliance with applicable laws, standards, requirements, and OCC Heightened Standards.
• Support resolution of internal audit, compliance, and risk-management issues that may affect data or process classification, availability, or integrity.
• Identify control breakdowns, inadequate processes, and unexpected events, and implement corrective actions with Business Controls leadership.
• Build relationships with internal business control groups and second- and third-line partners, including Legal, Compliance, Enterprise Risk, and Audit.
• Collaborate on information barriers and processes that control the flow of certain information.
• Serve as an analytical and procedural expert to peers on cross-functional processes and project deliverables.
• Assist with regulatory change management by identifying applicable changes, assessing their impact on business processes, reporting them, and supporting compliance.
• Assist, when applicable, with external change management for credit bureau matters and related testing.
• Identify operational risks under the ERM framework and help ensure adequate internal controls are in place.
• Partner with business managers on remediation under the Bancorp issues management framework and coordinate business ownership of processes, risks, controls, and tests.
• Coordinate updates to data in archive systems such as Open Pages and PPM.
• Conduct facilitated RCSA sessions to rate risks and controls.
• Partner with Support Functions or Risk Experts to identify Enterprise and Risk Appetite indicators, determine which are key, evaluate thresholds, and enter proposed indicators or changes in the GRC tool.
• Assist with identifying loss events associated with RCSA risks and processes, coordinating root cause analysis, evaluating action plans, and monitoring implementation.
• Oversee the LOB Supplier/Outsourcing strategy, review and challenge outsourcing business cases, and participate in escalated supplier-related issues where applicable.
• Work with the LOB to identify initial inherent risks and controls, identify applicable governance processes, and potentially complete control implementation.
• Participate actively in issue remediation.
• Execute the ERM Scenario Analysis risk-management program.
• Develop and manage product inventory and execute the ERM product risk review program.
• Provide assistance on government programs, special projects, regulatory or ERM risk programs, and matters related to acquisitions and strategic investments, as assigned.

Benefits

• Comprehensive benefits programs supporting physical, financial, emotional, and social well-being.
• Incentive compensation plan, with payments based on company, line-of-business, and/or individual performance.

What This Job Offers

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