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Senior Analyst in Business Risk and Control

2 months ago


New York, New York, United States WSN Full time

WSN is looking for a Senior Analyst in Business Risk and Control to engage in a long-term consulting assignment with a leading investment bank.

The Senior Analyst in Business Risk and Control is a highly experienced professional role. This position requires a comprehensive understanding of the field, contributing to the creation of innovative methodologies and enhancing processes and workflows within the designated area. It necessitates a deep comprehension of how various areas interconnect within the sub-function and their alignment with the overall objectives of the organization. The role involves evaluating complex issues with significant potential consequences, where formulating a strategy or taking action requires careful consideration of various options and balancing potentially conflicting situations using diverse information sources. The individual frequently assumes both informal and formal leadership roles within teams and is involved in mentoring and training new team members.

Key Responsibilities:

  • Facilitate governance and oversee the execution of the Manager Control Assessment (MCA), ensuring the assessment and approval of risks associated with business modifications.
  • Contribute to the quality, completeness, and accuracy of the Control Framework implementation, including Risk Control Policy and Control Standards, primarily within an Agile Software Development Life Cycle (SDLC). Familiarity with User Acceptance Testing (UAT) is advantageous but not mandatory.
  • Assist in identifying root causes of issues, collaborating with control and process owners to recommend comprehensive corrective actions and enhancements, ensuring proper escalation in line with Issue Management and Escalation Policies.
  • Support the execution of the Lessons Learned Policy, monitoring control breaches and sharing insights across business units to enhance processes and minimize future risks.
  • Influence decisions regarding the review and challenge process within the First Line Units (FLUs) to ensure effective design and management of controls to mitigate risks as per Control Standards.
  • Conduct analyses to ensure the timeliness, accuracy, and completeness of the MCA through controls prior to process execution (Quality Control).
  • Influence decisions to ensure adherence to the MCA Standard through controls post-process execution (Quality Assurance).
  • Contribute to Operational and Compliance Risk management in accordance with established Policy requirements.
  • Collaborate with the team to identify, assess, escalate, and manage risk exposures across various Risk Categories, including Operational Compliance and Reputational risks.
  • Perform analyses to support Risk Appetite and monitor exposures against this in line with enterprise requirements.
  • Assist in identifying, assessing, recording, and responding to Operational and Compliance Risk events, ensuring accurate and timely capture in accordance with requirements.
  • Conduct analyses to ensure adequate governance and training are in place for managing Risk profiles.
  • Analyze risks associated with New Activities and changes to the Business, ensuring they are well understood and controlled.
  • Support operational risk scenario analysis and stress testing for Operational Risk Capital requirements.
  • Conduct analyses to support risk and control assessments for various programs, ensuring sufficient subject matter expertise is available for effective risk management.
  • Ensure risk and control responsibilities are integrated within FLUs, contributing to training and leading by example.
  • Participate in implementing standards and procedures that align with enterprise requirements, supporting effective operational and compliance risk management.
  • Utilize knowledge of the business and its products or services to identify and implement control points and processes throughout the organization.
  • Assess risks appropriately when making business decisions, with a focus on the firm's reputation and safeguarding its clients and assets, ensuring compliance with applicable laws and regulations.

Qualifications:

  • 5-8 years of relevant experience.
  • Experience with workflow systems such as Jira and Confluence.
  • Excellent project management and organizational skills.
  • Proven experience in managing Manager Control Assessments or Risk and Control Self-Assessments.
  • Exceptional relationship-building and management skills.
  • Strong communication and diplomacy skills are essential.
  • Proficient in Microsoft Office, particularly MS Excel.

Education:

  • Bachelor's/University degree or equivalent experience.