Director, Payments Risk Oversight

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Job Summary

The Operational Risk Director position resides in the 2nd Line of Defense within the Operational Risk Management group and will report directly to the Head of Payments Risk Oversight. Additionally, this position will have direct reports that include operational risk officers, managers, and/or analysts.

The candidate will be responsible for leading a team of Operational Risk professionals to administer the Operational Risk policies and processes supporting the Core Treasury Payment products and services and associated Payment Operations, including advising the lines of business (LOBs) on: designing, planning, organizing, and management of operational risk assessments, testing, and remediation. Will also include providing highly specialized guidance and oversight on current and emerging legal, regulatory, and operational risk issues, monitoring and measuring operational risk performance, and reviewing and challenging of strategy (initiative, products, third parties, clients), control design, implementation, testing, and remediation for all LOBs. Promote an organizational culture that encourages acknowledgement and recognition of operational risks and places a high priority on risk management. Work with the LOB to develop an assessment, testing and remediation process for the operational risk management program supported by a horizontal team collaboration process.

Responsibilities

Lead a group of operational risk professionals who work directly with the Payments and Payment Operations lines of business (LOBs) to educate and communicate risk policies and programs, identify risks, develop assessments, provide input over controls and testing, advise on and monitor remediation activities and create reporting. Candidate will lead the following team actions:

• Assist in developing an enterprise-wide approach to operational risk management, which focuses on educating line of business partners and identifying, measuring, mitigating, monitoring and reporting operational risks.
• Support the monitoring of compliance with operational risk policies and standards by working with the LOB to integrate operational risk control self-testing into a comprehensive control self-testing program that performs regular and comprehensive risk assessment and testing, identifies gaps and deficiencies, and formulates response strategies for corrective action.
• Proactively advises front line business units on applicable operational risk standards, including keeping up-to-date with developments in the applicable laws, rules, standards and industry practices.
• Proactively works with assigned business unit management to identify and assess the operational risks associated with business activities, ensuring alignment with the Corporate Operational Risk Framework, including:
  • Advising LOBs on operational risks and controls and key risk indicators.
  • Advising LOBs on operational risks related to new products and/or services and business initiatives.
  • Advising LOBs on operational risks related to outsourced third-party activities.
  • Identifying aggregate risk across LOBs
• Ensures a sound understanding of business strategy, business processes and associated risks for assigned business units.
• Monitors and facilitates changes in business processes necessary to meet regulatory changes and mitigate operational risk exposure to Key, taking into consideration peer practices related to Operational Risk.
• Develops and recommends for approval policies, standards, procedures and guidelines to comply with corporate risk appetites, tolerances and policies.
• Conducts review and challenge activities and escalation, including independent testing as required.
• Proactive evaluation of operational risk reporting (metrics, loss events, findings, remediation plans, etc.), internal and external research, including leveraging peer benchmarks to identify current and emerging risk issues and develop effective response strategies to address identified risks/gaps.
• Provide information for analysis and reporting on operational risks, including changes to risk profiles, exposure and loss events, risk metrics performance, control testing results, remediation plans and status, peer benchmarks, external events and emerging risks.
• Play a primary role in the design, development and maintenance of the operational risk assessments, testing and remediation and reporting program.
• Assess the appropriateness of and works with assigned LOBs on developing and/or enhancing internal procedures and guidelines to comply with corporate Operational Risk appetite, tolerances, and policies.
• Present operational risk reports (Enterprise-wide and LOB specific) to Senior Management and Risk Committees.
• Develop and implement communication plans around operational risk responsibilities, assessments, testing, remediation and reporting to increase risk and control awareness.
• Maintain constructive interaction with regulators.
• Act as liaison with regulators and other internal or external auditors on matters concerning the corporation's operational risk program. Organize and monitor interaction between the 1st Line of defense and regulators
• Coordinate reporting to regulators and review final responses to external examinations, requests for information a regulatory and legal inquiries
• Works closely with other major risk category leaders (e.g., Credit, Compliance, Market, Model, Reputation, and Strategic) and 1st LOD to ensure an effective Operational Risk culture.
• Works with LOBs and other corporate initiatives to reduce operational risk losses.
• Coordinate and collaborate with Risk Review and the SOX testing team on operational risk assessments.
• Collaborate with LOBs and Quantitative Risk Analysis on operational risk related stress testing, development and maintenance of effective scenarios and models.
• Acts as Operational Risk Subject Matter Expert on assigned Subcommittees and/or Working Groups.
• Oversees and/or conducts role specific training with respect to Operational Risk to assigned LOBs to enhance organizational understanding of operational risk, risk identification processes and control design and management processes.
• Escalates promptly to appropriate senior management or appropriate risk committee any material breaches of applicable laws, rules, policies or standards with actual or potential operational risk impact, and necessary correction action.
• Effectively manages assigned human capital, ensuring acceptable employee engagement levels, providing sound direction, active coaching and development, and performance management of assigned employees.
• Represents Key in the community/industry though leadership involvement.
• Participate in periodic assignments related to the constantly changing risk management environment.

Education Qualifications

• Bachelor's Degree or significant equivalent work experience (required) and
• Master's Degree Business, finance, risk, Juris Doctor or other post graduate degree (preferred)

Experience Qualifications

• 10 years' Work experience in a financial services risk management, audit, accounting or related role (required)
• 5 years Management experience (required)
• Broad knowledge and understanding of risks and controls related to Core Treasury Payments products and applicable Payment Operations
• (required)
• Extensive knowledge and subject matter expertise in managing specified risk in an institutional setting including the related rules and regulations of the financial services industry to include applicable Interagency Guidance or OCC, FRB, state law and other pertinent regulations. (required)
• In-depth practical knowledge of internal controls, risk assessments and operational and compliance processes, and applicable techniques for implementation of regulatory, compliance and legal requirements and operational processes. (required)
• Strong leadership and relationship management skills including the ability to lead up and across the organization (required)
• Strong project management and/or continuous improvement skills (required)

Tactical Skills

• Strong leadership and organizational skills
• Ability to work closely with a diverse/cross functional group and influence their behavior to achieve desired results.
• Strong conflict resolution skills
• Strong negotiation and influencing skills
• Experience with managing enterprise level projects involving multiple stakeholders
• Very detail oriented and strong documentation skills
• Ability to multi-task and work in a fast paced, changing environment
• Strong communications and interpersonal skills
• Excellent time management skills and strong organizational skills with the ability to set priorities
• Proven track record of integrity ethics, judgment, and maturity.
• Has a passion for the business and the overall success of the bank
• Strong results orientation
• Ability to link business goals with risk strategies
• Ability to assertively and tactfully present strong arguments backed with detailed analytical support; can highlight the "whys' behind decisions.
• Strong executive presence and self-confidence to make effective presentations at various levels within the organization.

Personal Skills

• Critical Thinking: The ability to analyze and discuss various alternatives with stakeholders while differentiating between content and context of decisions; may coach others on critical thinking skills
• Decision Making: The ability to seek input from various sources and communicate decisions confidently and resolutely while remaining steadfast in championing decisions that later come under scrutiny
• Influence: Defines strategies and plans for influencing multiple decision makers and demonstrates an ability to influence at all levels of the organization, specifically areas of high-impact, high-risk, and highly complex structures; Coaches others on effective influencing strategies and tactics
• Problem Solving: Leverages varying problem-solving approaches and techniques to analyze and synthesize information and devise resolution strategies; ensure capture of lessons learned from the problem-solving effort
• Agile Mindset: Understands more complex agile framework and iterative methodologies and differentiates the strengths and weaknesses of various approaches; thrives in an environment that supports failing and failing fast in the spirit of learning

Practical Skills

• Business Acumen: Demonstrates a big picture understanding of the business, its interrelationships, and priorities; demonstrates strong foundations of business fundamentals, measurement, and business finance
• Risk Management: Monitors internal and external factors and experiences for developments and best practices related to risk management and acts accordingly; consults on risk management tools, processes, and benchmarks
• Oral & Written Communication: Develops a clear, complete understanding of needs and problems through careful listening, probing, reflecting, and summarizing; conducts discussions that are sincere and fully expressed
• Data Analysis: Identifies correlations that reveal trends and determine conditions, often with disparate data sets; Evaluates the quality of data collected and the effectiveness of data analysis methods for evaluating performance
• Analytical Thinking: Identifies any possible causes for a problem based on prior experience and current research; seeks discrepancies and inconsistencies in available information and explains variances

Core Competencies

• All KeyBank employees are expected to demonstrate Key's Values and sustain proficiency in identified Leadership Competencies.

Physical Demands

• General Office - Prolonged sitting, ability to communicate face to face in person or on the phone with teammates and clients, frequent use of PC/laptop, occasional lifting/pushing/pulling of backpacks, computer bags up to 10 lbs.

Travel

• Occasional travel to include overnight stay.

COMPENSATION AND BENEFITS

TBD

Please click for a list of benefits for which this position is eligible.

Key has implemented a role-based Mobile by Design approach to our employee workspaces, dedicating space to those whose roles require specific workspaces, while providing flexible options for roles which are less dependent on assigned workspaces and can be performed effectively in a mobile environment. As a result, this role may be mobile or home based, which means you may work either at a home office or in a Key facility to perform your job duties.

KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to building a diverse, equitable and inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other protected category.

Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing .

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