What are the responsibilities and job description for the Business Risk and Control Officer position at FNZ?
Role Description
Business Risk and Control Officer based in Boston. This is an exciting opportunity for a risk professional to join a newly formed US venture between State Street and FNZ. This venture represents FNZ’s entry point into the U.S. marketplace which is a strategic long-term growth strategy for the firm. The role would include shaping and overseeing an internal risk and business assurance program for a newly created NH Trust Company offering Wealth Management Services. This role will suit an experienced risk professional that has worked in highly regulated retail finance and banking operations.
Role Responsibilities
Business Risk and Control department is responsible for forging business policies and standard operating procedures in a way that is effective, efficient and trustworthy.
It does this by supporting the delivery of overall governance, risk management and assurance function for the business.
The Business Risk and Control Officer is responsible for:
- Assist with building and supporting the development of an assurance program
- Orchestrate and drive the successful and timely completion of the assurance program, including the identification of risks and issues
- Build strong relationships with other compliance, risk, and business colleagues
- Participate in the discussion regarding first line risk management, including but not limited to risk ratings, (where applicable), validating controls with the business, evaluating control design, and issue management
- Prepare business for and assist with 2nd and 3rd Line reviews
- Under general supervision, provide direction to the business unit on various elements of the global risk policies
- Continuously develop deep knowledge of core product, financial markets and technology
- Actively participate in committees and risk management projects, as needed
- Oversee production of management reporting
- Retain and develop talent
- Provide regular feedback and dialogue to ensure optimal employee engagement
- Make effective recommendations to hire, discipline, control work, determine promotions, salary increases, bonuses and terminate employment
- Ensure self and team anticipates, monitors, actively manages and reports all risk and compliance issues, breaches and suspicious activities
- Work with the senior management to identify and mitigate or minimize strategic, operational, financial and compliance risks to the business
- Helping maintain the “Tone at the Top” for ethical behaviour and actions throughout the organization.
- Perform other duties as required
The Following Are Essential Skills/experience
- An experienced leader, highly motivated and with a proven track record of strong influencing skills and the ability to liaise and work with senior management.
- Ability to handle diverse workload and tight schedules
- Effective multi-tasking and prioritization skills
- Project management skills
- Proven ability to apply strategic thinking to multiple, complex organizational and business issues, and has ability to translate into practical plans for project execution
- Self-starter, able to establish relationships and transcend multiple cross-functional/divisional boundaries, largely unaided
- Knowledge of regulatory and compliance risk methodology and standards
- Strong collaboration and relationship management skills
- Strong risk assessment, negotiation and problem resolution skills
- A strong, confident persuasive communicator (oral and written), capable of robust dialogue.
Qualifications
- Bachelor's Degree; Business, Finance, or equivalent field or equivalent work experience
- Must have at least 10 years work experience with a minimum of 4 years of direct experience in retail financial services, banking or industry-related investment compliance.
- Must be proficient in MS Office (Outlook, Word, Excel, PowerPoint) and able to develop proficiency in our systems as required to perform the duties of this position.
- Able to work overtime as necessary to keep current with work
Why join the FNZ journey?
As of April 1, 2021, FNZ and State Street are collaborating on FNZ Trust Company, a new wealth manager servicing venture, with FNZ acquiring a majority stake in State Street’s Wealth Manager Services (WMS) business.
The new venture combines the custody expertise of State Street with the international platform operated by FNZ, which currently services around 8,000 wealth management and financial advice firms across the UK, Europe and the Asia-Pacific regions. State Street will serve as sub-custodian to the custody assets belonging to Wealth Manager Services clients of FNZ Trust Company.
This marks the first step in FNZ’s strategy to expand our digital wealth platform into the North American market, where we have identified similar long-term drivers in relation to cost, transparency, digitisation and personalisation in asset and wealth management as other markets in which we operate.
FNZ is the market leading provider of technology and administration services to major financial institutions in the platform and wealth management sectors across the globe. We partner with life companies, banks, asset managers and discretionary wealth managers to enable them to develop and distribute financial products and services to their customers across all major distribution channels.
FNZ has a strong blue-chip customer base including Standard Life, Axa Wealth, JP Morgan, HSBC, AMP, National Australia Bank, Bank of New Zealand, Friends Life, UBS, Zurich Financial and Close Brothers Asset Management. It has helped these customers grow to over £400 billion of platform assets in aggregate. FNZ now employs over 2,300 people with offices in Edinburgh, London, Bristol, Brno (Czech Republic), Wellington and Sydney.
We offer a competitive total compensation package including base salary, health insurance, dental and vision benefits, a generous 401(k) match, and more.
At FNZ, we recognise that diversity, inclusion, and accessibility are important factors for our success. We embrace the unique perspective and capabilities of our current and future employees, which will help us continue to drive innovation and achieve our business goals. Recruitment decisions at FNZ are made in a non-discriminatory manner where all employees are valued and respected. In particular, we want to ensure accessibility needs are well supported thus, ensuring our recruitment process is fair and equitable for all applicants.
In compliance with the Americans with Disabilities Act (ADA), please contact the Human Resources department if you have a disability and need reasonable accommodation with any part the application process.
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