Business Unit Compliance Lead

Job Summary
The Business Risk and Control Officers (BRCO) play a pivotal role in guiding the business to identify and understand risk exposures and the controls needed which are integral to reducing risk and safeguarding our customers and colleagues. BRCOs are critical to the success of the Risk Management Lifecyle and play a role in Planning Identifying Assessing Mitigating Monitoring and Reporting. BRCOs are members of the First Line of Defense (1LOD) who:

provide leadership and coaching to the 1LOD to proactively identify and effectively manage risks

translate and educate 1LOD to enable and drive business relevant implementation of Second Line of Defense (2LOD) risk management frameworks policies taxonomies and inventories

review validate and test 1LOD activities to ensure adequate control design and effective control operation

provide credible challenge to 1LOD colleagues ensuring safeguard and risk mitigation measures are upheld in decision making and adherence to 2LOD frameworks and policies prior to 2LOD review

drive two-way collaboration across 1LOD and 2LOD; liaise between 1LOD and 2LOD to drive engagement throughout the risk management lifecycle

collaborate and coordinate across the organization to help navigate and mitigate horizontal risk promoting resilience and ensuring safety and soundness

document aggregate and report risk in accordance with the risk management lifecycle

The BRCO Business Unit Compliance Lead for their respective Line of Business will be responsible to provide expertise on both the Line of Business and the specific rules regulations and compliance laws impacting the Line of Business to help 1LOD translate and apply them to create proper controls.

Duties and Responsibilities Description % of Time Spent

Business Partnership 20%

Provides leadership and coaching to 1LOD to proactively identify and effectively manage risks

Translates and educates 1LOD to enable and drive business relevant implementation of Second Line of Defense (2LOD) risk management frameworks policies taxonomies and inventories

Drives two-way collaboration across 1LOD and 2LOD; liaise between 1LOD and 2LOD to drive engagement throughout the risk management lifecycle

Drives a strong enterprise risk culture by fostering rigor and discipline focused on risk and compliance awareness ethical business practices transparency and escalation.

Learns continuously about the line of business to strengthen subject matter expertise and provide more valuable application of risk guidance.

Collaborates with and supports other BRCO team members to ensure a robust and comprehensive implementation of 2LOD frameworks within 1LOD.

Line of Business Compliance Support 40%

Provides expertise on both the Line of Business (LOB) and the LOB specific rules regulations and compliance laws; reads analyzes and develops knowledge to determine requirements and mandates.

Understands and translates how to apply the rules regulations and laws to assist the business to create proper controls.

Manages implementation of new or revised regulatory requirements identified by Compliance (2LOD); Answers questions makes recommendations and addresses issues identified during the implementation phase.

Assists Line of Business with gap analysis to compare the current state with the new required state.

Risk Awareness 15%

Provides oversight to detect assess and respond to emerging risks.

Performs analysis in managing risks in existing operations resulting from industry lawsuits settlements etc. associated with regulatory violations.

Compliance Support 15%

Develops materials for corporate-wide committees as needed.

Acts as the primary Line of Business contact for compliance related exams audits and reviews.

Participates as a subject matter expert for various risk assessments

May be involved in Compliance Management System (CMS) executable activities in the 1LOD.

Other duties as required 10%