Overview
At Community Financial System, Inc. (CFSI), we are dedicated to providing our customers with friendly, personalized, high-quality financial services and products. Our retail division, Community Bank, N.A., operates more than 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts. Beyond retail banking, we also offer wealth management, investment management, insurance and risk management, and benefit plan administration.
Just as our employees are committed to helping our customers manage their finances, we’re committed to our employees. After all, they make it happen for our customers every day.
To ensure our people can enjoy long and successful careers here at CFSI, we offer competitive compensation, great benefits, and professional development and advancement opportunities. As an equal-opportunity workplace and affirmative-action employer, we celebrate and support a diverse workplace for the benefit of all: our employees, customers and communities.
Responsibilities
The Senior Risk Analyst is a resource and team member contributing to the facilitation of Community Financial Services, Inc (CFSI) Enterprise Risk Management (ERM) Program. As a key member of the ERM team, this position facilitates the ERM Program through supporting the delivery of second line ERM services by ensuring CFSI maintains adequate risk-related policies and procedures, and is in line with industry standards and regulatory expectations. With a level of independence, execute one or more activities in a manner that adheres to the expectations of the enterprise risk framework. Continue to expand technical expertise by gaining further knowledge in ERM applicable business activities or functions it supports.
Essential Duties:
- As a member of the second line of defense, contribute in the facilitation and further development of CFSI’s governance and ERM Program per regulatory expectations, including, but not limited to:
- Manage the monitoring and adherence of the ERM related policies, framework, and procedures.
- Utilize the ERM framework and execute assigned responsibilities related to assigned risk discipline (less complex areas).
- Monitor and maintain the organization’s GRC software including Risk Control Self-Assessments (RCSA) for assigned risk discipline.
- Drive engagement from the first line of defense for assigned risk business units and collaborate with business partners to complete the RCSA which includes:
- Independently evaluate the business unit’s documentation of business objectives, business processes, risk identification, assessment of risk, mitigating controls and testing the design and operational effectiveness of those risk controls to ensure effective risk mitigation;
- Provide effective challenge through evaluation of the business units inherent risk rating, and residual risk rating along with evaluating the business units monitoring of risk exposure through the use of key risk indicators;
- Using discretion, appropriately assess risk, compare to CFSI’s risk appetite and conclude whether there are any gaps in the control framework or areas where residual risk is outside of CFSI’s tolerance;
- As appropriate, provide recommendations for improvement of the business unit RCSA;
- Escalate significant and/or unresolved risk-related action items to department management for inclusion in the issues management report;
- Proactively monitor remediation progress of action items identified for timely resolution;
- Promptly respond to business partners questions or concerns;
- Lead the timely recertification of the RCSA’s per the ERM Policy.
- Based on required frequency (ad hoc, weekly, monthly, quarterly, annually) perform the following:
- Provide independent assessments and effective challenge of other assigned risk assessments (e.g. credit, interest rate, strategic, operational, financial, reputation, and compliance);
- Using data analytics tools to create reports, Key Risk Indicator (KRI) dashboards, and prepare presentations to management and the Board of Directors;
- As assigned, perform higher level analysis and judgement-based work over certain risk disciplines to support projects, programs, business initiatives, and strategies to ensure stakeholders are risk informed and the residual risk is aligned with CFSI’s risk appetite.
- Continuously improve the ERM Program; look for opportunities to be more efficient; implement opportunities including but not limited to, use of reporting enhancing solutions and/or interactive dashboards.
- Promote a culture of risk awareness; provide appropriate education to first line business partners and training/cross training to other risk team members, as needed.
- Continue the development of appropriate technical skills through internal and external resources in order to stay abreast of evolving risk themes pertaining to governance and ERM related practices, issues and trends that may impact CFSI.
- Maintain proficient knowledge of, and demonstrate ongoing compliance with all laws and regulations applicable to this position, ensure ongoing adherence to pertinent policies, procedures, regulatory guidelines, and internal controls in accordance with CFSI’s risk appetite.
- Meet all job-specific training requirements within the assigned timeframe.
- Other duties as assigned which may include participating on special projects or other risk related activities.
Ancillary Duties:
As an integral member of the Enterprise Risk Department, this position is also responsible to provide assistance wherever necessary to support the department and CFSI in efforts to achieve annual goals.
Qualifications
Education, Training and Requirements:
- Bachelor’s degree in business, data analytics, mathematics or a related field; or combination of a minimum of eight (8) years of higher education and/or relevant work experience including a minimum of three (3) years in risk, reporting and analytics, governance or other relevant functions.
- Applicable risk certifications is a plus.
- All Applicants must be 18 years of age or older.
Skills:
- Proficient in Microsoft Office products, ability to work with multiple business partners in a professional manner, self-motivated with the ability to work independently, exceptional decision-making, analytical, problem solving, critical judgement and presentation skills. Required personal characteristics include, an ability to communicate effectively both verbally and in written products, attention to detail, inquisitive nature, ability to multi-task and adapt to change. The position requires the ability to function with a level of independence in the oversight and/or execution of one or more activities in a manner that adheres to the expectations of the enterprise risk framework.
Experience:
- A minimum of five (5) years in risk, reporting and analytics, governance or other relevant function. A sound foundational knowledge of internal controls is required. Experience utilizing a GRC tool and/or Power BI, knowledge of financial services products, risk management best practices, and/or regulatory requirements is a plus. Candidates with prior experience in CFSI’s four key lines of business: banking, benefits administration, insurance and wealth management services are desired.
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