Business Controls Senior Associate - IT Risk

Fifth Third Bank • Cincinnati, OH

6d • Onsite

About The Position

The Business Controls Senior Associate – IT Risk serves as a first line of defense, analyzing risks and supporting their identification, assessment, mitigation, management, monitoring, and reporting. The role helps advance business controls and the organization’s Enterprise Risk Management (ERM) framework through effective risk-management structures, processes, and tools. It transforms data into business intelligence and provides insights to stakeholders, while monitoring compliance and program effectiveness across assigned business or functional areas and Bancorp initiatives.

The position supports development and implementation of controls, policies, and procedures; provides expertise on risk processes; investigates potential operational losses; and helps address control deficiencies and audit, compliance, or risk-management issues. It collaborates with business leaders and the Legal, Compliance, Enterprise Risk, and Audit functions, and contributes to regulatory change management, RCSA activities, issues remediation, supplier and outsourcing oversight, ERM scenario analysis, and product risk reviews. Additional duties may include special projects, regulatory programs, or acquisition-related work.

The role is based in Cincinnati, Ohio. Fifth Third describes its Total Rewards as including comprehensive benefits and differentiated compensation. The position is eligible for an incentive compensation plan, with payment based on company, line-of-business, and/or individual performance; specific salary figures and individual benefit details are not provided in the posting.

Requirements

• Bachelor’s degree or equivalent experience required; a related field is preferred.
• At least 5 years of financial services industry, risk, business controls, or compliance experience preferred.
• Professional verbal and written communication skills, including discretion and understanding when confidentiality is needed.
• Analytical ability to interpret and apply policies and regulations across a complex business.
• Ability to proactively identify opportunities and build trusted strategic relationships and networks, internally and externally.
• Collaborative and approachable, with interpersonal skills to influence others.
• Ability to thrive in a fast-paced, dynamic environment and shift priorities 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.
• For Investment Advisors, FINRA Series 7 and Series 63 or 66 licenses.
• For Investment Advisors, knowledge of the securities industry and SEC and FINRA regulations.

Responsibilities

• Assist business controls leadership with developing complex strategies and implementing controls, policies, and procedures to improve effectiveness and efficiency.
• Provide stakeholders with expertise and analysis related to identifying, assessing, controlling, monitoring, testing, and reporting risks.
• Investigate and assist with root cause analysis for actual or potential operational losses.
• Gather, integrate, and analyze information from varied sources to understand issues and identify trends, associations, and cause-effect relationships.
• Stay informed about 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 could affect data or process classification, availability, or integrity.
• Identify control breakdowns, inadequate processes, and unexpected events; partner with Business Controls leadership on corrective actions.
• Build relationships with internal business-control groups and second- and third-line functions, including Legal, Compliance, Enterprise Risk, and Audit.
• Collaborate on establishing information barriers and processes to control the flow of certain information and support policy compliance.
• 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 effect on business processes, reporting them, and supporting compliance.
• Coordinate or support external change management for credit bureau matters and related testing, if applicable.
• Identify operational risks under the ERM framework and 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 in which risks and controls are rated.
• Partner with Support Functions or Risk Experts to identify Enterprise and Risk Appetite indicators and determine which should be designated as key.
• Collaborate with lines of business on threshold evaluations and proposed changes, and enter proposed indicators and changes in the GRC tool.
• Assist with identifying loss events associated with applicable RCSA risks and processes.
• Assist with root cause analysis coordination and action-plan evaluation, and monitor implementation of action plans.
• Provide oversight of line-of-business supplier and outsourcing strategy and review and challenge outsourcing business cases.
• Participate in escalated issues affecting line-of-business processes involving suppliers, where applicable.
• Work with lines of business to identify initial inherent risks and controls, identify applicable governance processes, and potentially complete control implementation.
• Actively participate in issue remediation.
• Execute the ERM Scenario Analysis risk-management program.
• Develop and manage product inventory and execute the ERM product risk review program.
• Take on additional assignments that may include government programs, special projects, regulatory risk programs, or diligence and other matters relating to acquisitions and strategic investments.

Benefits

• Comprehensive benefits programs designed to support employees’ and families’ physical, financial, emotional, and social well-being.
• Eligible to participate in an 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