Lead Analyst - Risk & Control

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.

The Lead Analyst Risk and Control will be responsible for evaluating control procedures and processes addressing operational and compliance risks for the bank. In this process they will adopt the banks control testing standard, procedures, and industry best practices. The role is responsible to execute complex and broader control evaluations involving multiple test parameters.     

The role will primarily involve review and challenge of the first line control testing. This will include reviewing and challenging the Design and Operating effectiveness assessment performed by first line testing and evaluating its adherence to banks Controls Assurance (CA) standards. The review and challenge effort will evaluate if the first line test assessed the controls effectiveness in mitigating the risks it intended to cover.

The person in this role will be responsible for updating the status of control testing, discussing delays, and assisting with project status reporting. They will also oversee and/or assist junior control testing staff and ensure quality of delivery. Additionally, the person in this role will assist with adhoc and special projects.
The Lead Analyst Risk and Control in this role assumes responsibility as tester for assigned key controls on various operational and compliance risk topics and is required to test controls which are automated, manual, preventive, detective and deliver the following:

• Complete testing of specific number of controls allocated in a month
• Ensure all risks associated with the control are adequately assessed
• Review the control testing work performed by Sr. Analyst Risk and Control as needed
• Ensure the quality of documentation meets the required standards
• Address Quality Assurance (QA) comments for the testing performed
• Communicate the results of the control testing to relevant stakeholders and ensure necessary buy in
• Coach and facilitate Sr. Analyst Risk and Control in performing control testing, stakeholder discussions and meetings
• Monitor and follow-up of remediation plans and their statuses to ensure effective risk mitigation

This role provides an opportunity to identify risks that could impede the scalability of operations and an important role in working with Bank operations to deliver solutions for challenges faced by the growth of the organization.

Primary Responsibilities:

Essential Functions

- Develop and review narratives, flowcharts, and risk control matrix to validate their accurately describe the processes and related controls. 

- Coordinate and complete Design Effectiveness (DE) evaluation. Coordinate, participate, and document walkthroughs to capture the end-to-end details from initiation to conclusion of controls.  Interview business stakeholders to obtain the necessary information to complete control process walkthrough. Verify the risks are being mitigated, the control is designed appropriately to mitigate the risks. Identify gaps and/ or ineffective controls and communicate them to control owners. 

- Coordinate and complete Operating Effectiveness (DE) evaluation. OE Testing involves obtaining the relevant population for the control, validating its completeness and accuracy, selecting sample for testing based on sampling methodology, executing test steps to confirm the control is operating effectively. Collaborate and coordinate with business stakeholders to complete testing within stipulated timeline and quality. Identify issues or ineffective controls and communicate results to the control owners.

- Review and provide feedback on controls testing performed by Senior Analyst Risk and Control

- Assist with status and result reporting weekly, monthly, and quarterly.

- Assist with ad hoc and special projects as necessary. 

Specific Responsibilities

• In adherence with the laid down standards and procedures update and maintain all artifacts including but not limited to narratives, flowcharts, and risk control information from RCSA, population data, etc., to support the testing work.
• Coordinate with the business to set up walkthroughs and obtain testing support as needed
• Clearly document walkthrough, testing procedures performed and issues identified during testing
• Communicate deficiencies noted, review counters and responses from business for validity, conclude final testing outcomes and track remediation efforts as needed
• Track status of testing to the actual plan and report delays to supervisor and assist with management reporting
• Assist with internal and external audit requests and respond to any follow up questions timely
• At the direction of your supervisor, assist ad hoc and special projects
• Perform and execute complex control tests and work independently to deliver the portfolio assigned control tests
• Review and validate testing work of Senior Analyst Risk and Control verify they are in line with the standards and procedures

Knowledge

• Knowledge of operational and compliance risks in a banking environment and key controls mitigating those risks
• Well versed with control testing process including Design Effectiveness (DE) and Operating Effectiveness (OE) testing
• Knowledge of consumer, commercial and other banking processes and related risks and controls
• Knowledge of corporate functions in a banking set-up such as human resources, marketing and strategy, finance, etc
• IT General controls testing, Cyber Security, Software Development lifecycle, Patch and Vulnerability Management, Cloud Security, Network Security, Data Privacy, Server and Database hardening

Skills

• Organized and structured
• Strong communicator with excellent written and oral skills
• Critical thinking skills with eye for details
• Team orientation and collaboration
• Project management and multi-tasking

Required Education and Experience

• Bachelor's Degree preferably in accounting or finance
• Experience in banking and financial services with exposure to control testing
• Working knowledge of Microsoft products required
• Overall experience of 5 - 7 years with 3-5 year in control testing.

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.