Join our team at SVB Global Services India LLP hereinafter referred to as First Citizens India– an organization that has built a legacy of strength, stability and long-term thinking that has spanned generations. Our parent company, First Citizens BancShares, Inc. is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™.
Situated in the vibrant city of Bengaluru, we play a crucial role in driving the success of our parent company and its subsidiaries.
At First Citizens India, our team brings together diverse backgrounds and rich experiences to deliver excellence across key business functions. Our commitment to innovation and collaboration makes us the preferred partner in navigating the dynamic and fast-growing digital landscape. We believe in diverse, equitable and inclusive working environment because we understand that when all our differences converge, we create a synergy that enhances associate and customer relationships and drives innovation of our products and services.
About the Job:
This is a key role within the banks Controls Assurance (CA) team. This role will manage a team of experienced risk and control professionals dedicated to first line control testing.
The role will have accountability for overall performance of the assigned business controls testing process, stakeholder engagement, productivity, seamless service delivery, quality and effective people management and would be measured on the overall effectiveness of the process.
The role will oversee planning, timely execution, and delivery of testing schedule, along with maintaining quality of Output. This will include reviewing and challenging the Design and Operating effectiveness of first line controls and evaluating its ability to mitigate key risks for the bank.
The role will be responsible to build strong partnership with onshore stakeholders in the U.S. to ensure smooth transition of work between onshore/offshore resources. Manage onshore stakeholders by providing periodic updates and contribute to periodic communications such as debriefs, dashboards, KPIs etc.
Build effective working relationships with senior management and staff, both internal and external as needed. Broaden and deepen knowledge of the business functions and environment of the Bank to effectively assist leadership and staff in contributing towards banks risk management efforts. The role may also involve evaluating best practices, efficiency opportunities, and compliance with the requirements.
The person in this role should have strong risk management expertise, exceptional written and oral communication skills, strong understanding of banking business processes, stakeholder management skills and the ability to manage multiple projects and deadlines at once.
The person in this role should have a good knowledge of operational and compliance risks in a bank and a broad understanding of the control environment mitigating those risks. This will require broad knowledge of consumer and commercial banking products and services, as well as applicable laws and regulations.
The role requires to engage with control owners, Business Unit (BU) leaders, First Line Risk Managers (FRM) and other stakeholders in SVB India and/or in US, for their day-to-day work. Strong communication and interpersonal skills are necessary to achieve the required objectives.
The role will define roles, responsibilities, individual goals, and performance objectives for the team. The role will also involve identifying future talent and skill requirements in collaboration with onshore stakeholders.
Experience in performing controls testing in a bank or large financial institutions is preferred. Exposure to performing review and challenge activities as part of second line risk management will be an added advantage.
Once Here You Will:
Control Identification, Testing and Monitoring:
Scoping and Planning - Identification of controls eligible to test and prepare annual test plan.
Deal with unstructured and ambiguous control data to arrive at a reasonable testing plan.
In this process adhere to the laid down standards and procedures.
Be vigilant and agile to adjust the plan to adapt to upcoming changes and priorities.
Ensure regulatory commitments are managed within agreed timelines and to highest standards.
Evaluating the design of internal controls and assessing the effectiveness of processes and controls
Evaluating the adequacy and effectiveness of IT policies, procedures, processes, systems and internal controls; along with analyzing business and/or systems changes to determine impact.
Evaluation and Interpretation of risk types, methodologies and frameworks for testing IT controls and assessing results, conducting research, and identification of control deficiencies.
Provide guidance to the team in drafting and executing IT control evaluation test scripts to assess design and Operating effectiveness of internal controls. Review team members work as required.
Provide recommended changes to controls if underlying processes have changed or new items / risks added to the business in an advisory function
Governance & Reporting :
Track Controls testing status to the plan and report any variance via management reporting
Communicate deficiencies, reviewing responses for validity, and tracking remediation efforts
Assist with internal and external audit requests and respond to follow up questions timely
Interpret and communicate results allowing you to make recommendations to stakeholders
Leadership and People management:
Define talent/skill needs and resource requirement keeping in mind process evolution and emerging technologies
Provide clear roles and responsibilities, individual goals and performance objectives for the team
Provide regular, constructive feedback to maximize positive impact to team member’s talent
Contribute to hiring and talent management strategy and policies for GDC
Support cross-training and resource rotation to ensure that there is enough breadth and depth of talent caliber/ potential across the organization to provide enough bench strength for key roles, and to sustain and build organizational capability over time
Manage external vendor resources supporting the day to day delivery of control testing work.
Stakeholder management:
Accountable for effective communication across the operational risk and control working groups.
Influence and assist process owners to close gaps in their controls and adopt processes that will help grow the business in a compliant manner
Manage onshore stakeholders, providing periodic updates and contribute to periodic communications like Debrief, Dashboards, KPIs etc.
Critical thinker that can plan and execute while collaborating across many functions and locations, including internal and external partners.
Establish necessary connects with the local leadership and leverage knowledge within the teams
Operational Excellence
Act as strategic contributor for the organization, suggesting continuous improvement initiatives by leveraging industry best practices
Improve operational efficiency by exploring new ways of working through process improvements
Innovate ways to automate process by rolling out quality initiatives
Actively seek and identify areas to increase scope of work, by identifying areas of synergies and existing competencies. Collaborate with onshore and GDC teams to drive migration
Promote culture of innovation in team seeking ideas for process improvements from team members. Quantify and evaluate the feasibility of ideas given by team members
Contribute to the continuous evolution of the Risk & Controls team, including developing and maintaining the governance framework, policies and procedures, risk assessments, issue management, and training
What You’ll Bring:
Ability to effectively complete control testing work papers, collect supporting evidence from different stakeholders and share the testing results with control owners to work on defining action plans to remediate the gaps.
Capability to work on the multiple tasks simultaneously with minimal direction in in fast-paced environment.
Proactive, strong analytical and interpersonal skills.
Proficient in Microsoft Excel and PowerPoint.
Excellent written and spoken communications skills
Able to interact with internal/ external stakeholders and ensure interactions are of a high quality of service
Able to coordinate with other internal departments to deliver seamless service to business
Able to effectively manage tasks and delegate work among team members (as required)
Able to identify and document personal skill development goals and milestones to mentor team members
Efficient and well organized, able to work under tight deadlines
Outstanding attention to detail, accuracy, and ability to multitask
Proven capability to work independently without hand holding and exercising sound judgment & initiative
Education & Experience:
Bachelor's Degree preferably in accounting or finance
Good knowledge of Microsoft Office (Word, Excel, PowerPoint, and Outlook)
Experience with using or implementing GRC tools.
Working knowledge of (or willingness to learn) key regulations within risk management and financial services industry, such as FFIEC, GLBA, GDPR, PCI.
Familiarity in IT risk and compliance activities and general understanding of industry frameworks (as such COBIT, ITIL), and technology (Oracle database, Active Directory).
Excellent understanding of ‘Risk & Controls’ flow and processes
Experience of working within Banking/ Financial services industry
Experience of managing/ leading process improvement initiatives
Experience of working in a GDC/ GIC set up for a large to medium organization.
13 to 15 years of banking or financial services risk management experience
Certifications:
CIA, CAMS, CGSS, CFE, CISA, ISO 27001 (These are good to have but not mandatory)
Equal Employment Opportunity
SVB Global Services India LLP hereinafter referred to as First Citizens India is an Equal Employment Opportunity Employer. We are committed to fostering an inclusive, equitable and accessible environment and prohibit all forms of discrimination on the basis of gender, religion, caste, disability, sexual orientation, economic status or any other characteristics protected by the law. We strive to foster a safe and respectful environment in which all individuals are treated with respect and dignity. Our EEO policy covers all employment processes such as recruitment, hiring, compensation, benefits, promotions, learning opportunities, and other applicable employment terms for all qualified applicants and employees.
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