Senior Analyst - Business Risk & Controls (Control Assurance)

The Sr. 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 person in this role will be responsible for updating the status of control testing, discussing delays and escalating any roadblocks to the manager. Additionally, the person in this role will assist with ad hoc and special projects.

The Sr. 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
• Ensure the quality of documentation meets the required standards
• Address any Quality Assurance (QA) comments for the testing performed
• Communicate the results of the control testing to relevant stakeholders and ensure necessary buy in
• 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:

• Develop 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 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.
• 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
• At the direction of your supervisor, assist ad hoc and special projects

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

Skills:

• Organized and structured
• Strong communicator with excellent written and oral skills
• Team orientation and collaboration

Educations & 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 6 - 8 years with 4-6 year in control testing
• CIA, CAMS, CGSS, CFE, CISA, ISO 27001 (These are good to have but not mandatory)