Senior Associate - Network Participant Risk Oversight Testing & Monitoring

Capital One•Riverwoods, IL

55d•$86,000 - $107,900

About The Position

As a Senior Risk Associate at Capital One, you will be joining the newly created Network Participant Risk Management (NPRM) Team within the Operational Risk Management second line of defense. The NPRM team's mission is to establish and launch the second line of defense Network Participant Risk Oversight program to enable value-add, independent second line of defense challenge and stewardship with regard to the risks Network Participants (e.g. issuers, acquirers, network alliances, etc.,) present to the Global Payment Network. As Senior Risk Associate on the NPRM Team, you'll be responsible for working with business partners and other second line of defense teams to conduct testing and monitoring to identify and mitigate potential risks and to assess whether the first line is meeting Capital One's program requirements. You will leverage this information to support effective challenge of the first line of defense regarding their risk taking decisions and activities. You will also need to develop a detailed understanding of Network Participant related processes, data and the systems where the data is stored in order to leverage for testing and monitoring. The overall NPRM team provides not only the governance structure for NPRM at Capital One, but also oversight and effective challenge in all areas of Network Participant Risk Management, from individual Network Participant situations (e.g., monitoring actions, issues and events) to larger bodies of risk that span a business area/ division (e.g., Risk Control Self Assessments, Process Level Assessments). As part of the larger Operational Risk Management (ORM) organization, you will work with talented associates to assist in building out and then executing the testing and monitoring strategy as well as supporting oversight and effective challenge to ensure that our businesses effectively manage operational risk overall. This includes enabling our organizations to maintain a sustainable and holistic operational risk profile in order to deliver superior products and services while also protecting our customers. You'll also bring your unique perspective and experiences to help us be rigorous, curious and creative. Principal Risk Associates have a natural passion for managing risk with strong project, process and analytical skills. With these skills, they serve as change agents to effectively challenge business leaders on our highest profile risk projects. You will partner with key stakeholders in the first and second line to identify potential risks in an open, collaborative environment where new ideas and solutions are both welcomed and rewarded.

Requirements

High School Diploma, GED or equivalent certification
At least 2 years of risk management experience within the financial services industry
At least 2 years of experience in third party risk, risk governance oversight, testing or monitoring

Nice To Haves

3+ years of risk management, compliance or legal oversight experience with a payments network
3+ years of process management and data management experience
3+ years of Project/Program Management experience leading cross functional programs in Risk
Experience creating presentations with Excel/Google Sheets, PowerPoint/Google Slides
Risk management certification such as: Certified Third-Party Risk Professional (CTPRP), ABA Operational Risk Management

Responsibilities

Perform testing & monitoring of the first line network participant risk management including detailed data analysis to identify risks, problem areas, and development/completion of remediation plans
Develop understanding and knowledge of Network Participant related processes, data and data systems of record to facilitate testing and monitoring
Effectively challenges and is a thought leader in providing guidance to implementing Network Participant risk management practices
Analyzes data to proactively identify risks and trends
Provide guidance and support during audits and exams as needed
Ensure results of testing & monitoring and challenge activities are properly documented and communicated, and perform and support detailed validation data analysis to include trending, problem identification, and development/completion of remediation plans
Consults on Issue/Event analysis and reporting functions to observe trends and provide insights on changes to the Network Participant risk environment
Collaborate effectively across multiple organizations such as Operational Risk Management, Risk Oversight Programs, Enterprise Risk Management, Business Risk Office, Internal Audit, etc., to achieve objectives
Demonstrates problem-solving and analysis skills with attention to detail
Demonstrates strong communication, collaboration, and problem solving skills
Balances multiple priorities to help drive business value and support team objectives, while managing tasks and activities related to risk management initiatives to support the Network Participant Risk Management team in a well-managed capacity
Assists in the development of risks, issues and/or mitigation plans to ensure the business implements needed changes and addresses areas of exposure