Product Risk Specialist

Western Alliance Bank•Phoenix, AZ

1d•Onsite

About The Position

As a Product Risk Specialist, you will support the successful delivery and governance of the Bank’s product portfolio by partnering closely with Product Management and cross-functional teams. You will help translate strategic objectives into executable initiatives, guiding efforts from development through launch while ensuring alignment with business goals, customer needs, and regulatory requirements. In this role, you will facilitate Product and Services Risk Assessments (PSRA) for assigned product groups, including preparing governance materials, tracking evidence, and supporting reporting to First Risk Council. You will also help drive issue resolution and promote consistent enterprise-wide policy adherence and adoption of product governance standards. You will play a key role in establishing and managing KPIs to measure product performance and adoption, providing insights to support decision-making and continuous improvement. Additionally, you will support cross-functional coordination, helping ensure communication, training, and readiness activities are in place to enable successful product launches. Assist in defining project scope, goals, and deliverables in collaboration with stakeholders and develop detailed project plans, including timelines, milestones, and resource allocation. Drive facilitation of Products and Services Risk Assessments for assigned product groups including the creation of First Risk Council meeting materials, PSRA evidence tracking, and 1LOD Product Risk reporting. Assist with product-owned issue management resolution. Play a key role in ensuring enterprise-wide policy adherence and monitoring plan. Lead KPI creation, tracking, and reporting to measure product performance, adoption, and operational effectiveness. Act as a primary point of contact for stakeholders, provide updates, manage expectations, and facilitate communication between cross-functional teams, including operations, marketing, compliance, legal and 2LOD Risk Management. Identify potential project risks, develop mitigation strategies, and ensure compliance with regulatory requirements and internal policies.

Requirements

3+ years of related experience.
Bachelor's degree in related field required.
Intermediate knowledge of general banking operations, including deposit operations, loan administration, treasury management and/or other commercial banking products and services.
Intermediate knowledge of applicable regulatory and legal compliance obligations, rules and regulations, industry standards and practices.
Intermediate knowledge of product development, quality assurance, risk assessment methodologies, and relevant regulations.
Intermediate knowledge of data analytics to analyze data and identify trends related to product risks.
Advanced written and verbal communication skills, including the ability to develop executive-level reporting and enterprise communications.

Nice To Haves

Masters or MBA in related field preferred.

Responsibilities

Facilitate Product and Services Risk Assessments (PSRA) for assigned product groups.
Prepare governance materials, track evidence, and support reporting to First Risk Council.
Drive issue resolution and promote consistent enterprise-wide policy adherence and adoption of product governance standards.
Establish and manage KPIs to measure product performance and adoption.
Support cross-functional coordination, ensuring communication, training, and readiness activities for successful product launches.
Assist in defining project scope, goals, and deliverables.
Develop detailed project plans, including timelines, milestones, and resource allocation.
Assist with product-owned issue management resolution.
Ensure enterprise-wide policy adherence and monitoring plan.
Lead KPI creation, tracking, and reporting to measure product performance, adoption, and operational effectiveness.
Act as a primary point of contact for stakeholders, provide updates, manage expectations, and facilitate communication between cross-functional teams.
Identify potential project risks, develop mitigation strategies, and ensure compliance with regulatory requirements and internal policies.