Business Unit Compliance Lead

TalentOla•Frisco, TX

About The Position

The Business Risk and Control Officers (BRCO) 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, and document, aggregate and report risk in accordance with the risk management lifecycle. The BRCO Business Unit Compliance Lead for their respective Line of Business will be responsible to provide expertise on both the Line of Business and the specific rules, regulations and compliance laws impacting the Line of Business to help 1LOD translate and apply them to create proper controls.

Requirements

Provides expertise on both the Line of Business (LOB) and the LOB specific rules, regulations and compliance laws; reads, analyzes and develops knowledge to determine requirements and mandates.
Understands and translates how to apply the rules, regulations and laws to assist the business to create proper controls.
Manages implementation of new or revised regulatory requirements identified by Compliance (2LOD); Answers questions, makes recommendations and addresses issues identified during the implementation phase.
Assists Line of Business with gap analysis to compare the current state with the new required state.
Provides oversight to detect, assess and respond to emerging risks.
Performs analysis in managing risks in existing operations resulting from industry lawsuits, settlements, etc. associated with regulatory violations.
Develops materials for corporate-wide committees, as needed.
Acts as the primary Line of Business contact for compliance related exams, audits and reviews.
Participates as a subject matter expert for various risk assessments
May be involved in Compliance Management System (CMS) executable activities in the 1LOD.

Nice To Haves

Learns continuously about the line of business to strengthen subject matter expertise and provide more valuable application of risk guidance.

Responsibilities

Provides leadership and coaching to 1LOD to proactively identify and effectively manage risks
Translates and educates 1LOD to enable and drive business relevant implementation of Second Line of Defense (2LOD) risk management frameworks, policies, taxonomies and inventories
Drives two-way collaboration across 1LOD and 2LOD; liaise between 1LOD and 2LOD to drive engagement throughout the risk management lifecycle
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 guidance.
Collaborates with and supports other BRCO team members to ensure a robust and comprehensive implementation of 2LOD frameworks within 1LOD.
Provides expertise on both the Line of Business (LOB) and the LOB specific rules, regulations and compliance laws; reads, analyzes and develops knowledge to determine requirements and mandates.
Understands and translates how to apply the rules, regulations and laws to assist the business to create proper controls.
Manages implementation of new or revised regulatory requirements identified by Compliance (2LOD); Answers questions, makes recommendations and addresses issues identified during the implementation phase.
Assists Line of Business with gap analysis to compare the current state with the new required state.
Provides oversight to detect, assess and respond to emerging risks.
Performs analysis in managing risks in existing operations resulting from industry lawsuits, settlements, etc. associated with regulatory violations.
Develops materials for corporate-wide committees, as needed.
Acts as the primary Line of Business contact for compliance related exams, audits and reviews.
Participates as a subject matter expert for various risk assessments
May be involved in Compliance Management System (CMS) executable activities in the 1LOD.
Other duties as required