Vice President of Risk Management for Business Units

2 weeks ago


Santa Ana, California, United States Banc of California Full time

Overview

Banc of California, Inc. is a prominent bank holding company based in Los Angeles, operating through its wholly-owned banking subsidiary, Banc of California. The institution is dedicated to fostering relationships with small, middle-market, and venture-backed enterprises by providing comprehensive banking and treasury management solutions. With over 70 full-service branches across California and select locations, Banc of California also offers advanced payment processing services through its subsidiary, Deepstack Technologies. The bank is committed to community engagement, supporting initiatives that promote financial literacy, job training, and affordable housing.

Position Summary:

The Vice President of Risk Management for Business Units will ensure that the risk initiatives of various business lines are in alignment with the overarching Enterprise Risk strategies and corporate goals. This role will collaborate closely with Risk/Compliance, Audit, and business unit teams to enhance risk and control management practices. The individual will be tasked with evaluating the risk and control landscape of business units, pinpointing areas for improvement, and monitoring key risk indicators while providing governance on all risk-related matters.

Key Responsibilities:

  • Act as the primary liaison between Compliance/Risk, Audit, and business unit teams, offering strategic guidance and support.
  • Conduct risk and control assessments and oversee remediation efforts for identified control weaknesses, delivering comprehensive risk reports for business units.
  • Manage the execution of front-line control self-assessments and risk evaluation activities, as well as independent risk and audit initiatives as necessary.
  • Contribute to risk management processes, including strategic planning, policy integration, and monitoring the execution of the Risk Management Framework.
  • Ensure that identified gaps are addressed through effective remediation plans that comply with issue management protocols.
  • Monitor and assess emerging risks, internal operational trends, and external risk events for their potential impact on the control environment.
  • Prepare risk analyses and develop risk mitigation strategies.
  • Establish and maintain evaluations of risks and controls for significant and emerging risks, including ranking residual risks and remediating control deficiencies.
  • Ensure timely and accurate reporting of significant and emerging risks from the perspective of business units.
  • Participate in ad-hoc working groups to tackle new risk areas within their responsibilities.
  • Ensure that resources allocated to risk management are qualified and sufficient to effectively fulfill required functions.
  • Oversee that risk management activities are executed properly and completed for the units under their purview.
  • Ensure proper training for all personnel involved in risk activities within the business units.
  • Verify that internal controls are appropriately designed and functioning effectively.
  • Identify risk trends and indicators of potential control failures.
  • Keep Business Executives informed of any changes in inherent risk or control deficiencies that may affect residual risk.
  • Promote a risk-aware culture; encourage self-identification and disclosure of control assurance gaps.
  • Demonstrate respect for individuals, uphold commitments, inspire trust, and maintain ethical standards in all actions.
  • Adhere to EEO policies and promote a diverse and inclusive workplace.
  • Follow established policies and procedures, ensuring tasks are completed accurately and timely, supporting the organization's goals and values.
  • Perform duties safely, reporting any potentially unsafe conditions, and comply with occupational safety standards.
  • Execute additional duties and projects as assigned.

Qualifications:

  • Exceptional skills in risk assessment analysis with a robust understanding of business and financial markets.
  • In-depth knowledge of inherent risks within the business line.
  • Strong management and communication skills, with the ability to engage effectively with all management levels.
  • Capability to analyze risk trends and detect changes in risk levels.
  • Comprehensive understanding of respective business areas.
  • Experience in executing risk assessment methodologies and evaluating internal control adequacy.
  • Proficiency in defining risk metrics and developing reporting tools.
  • Experience in creating and reviewing documentation for testing and issue resolution.
  • Familiarity with automated control solutions.
  • Knowledge of compliance with relevant state and federal regulations.
  • A Bachelor's degree and a minimum of 5 years of experience in operations management within a financial institution.
  • At least 5 years of experience in operational risk management or audit functions.

Banc of California is an equal opportunity employer committed to fostering a diverse workforce. All qualified applicants will be considered for employment without regard to various protected characteristics.



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