Overview:
This position is responsible for the delivery of second line risk management services in line with area policies, industry standards, and management expectations to key personnel in the businesses/functions that it supports. The position is responsible for advising line and senior leadership as it relates to operational risk of the businesses/functions that it supports, and is expected to do so in a collaborative manner, with other risk partners, as applicable. The position will be responsible for supporting the evolving landscape of the risk management environment and be able to positively influence both internal and external personnel relating to the evolution of such changes. The position requires the ability to function with a level of independence in the oversight and/or execution of one or more of the following activities in support of the services described above, and in a manner that adheres to the expectations of the operational risk management framework, as it evolves, and the expectations of key stakeholders, up to and including the Board: identification, assessment, quantification, documentation, escalation, reporting, and communication of unmitigated risks within the business. The position has a solid understanding of the business or functions it supports. The position requires the establishment of internal and external relationships with line level management and key personnel to remain apprised of changes in the business, and to communicate emerging risks, changes to the operational/regulatory landscape, and consideration of cost beneficial operational risk management opportunities for the business. The position may have indirect responsibility over members within the team, who will develop their skill sets under the guidance or direction of this individual.
Primary Responsibilities:
- Develop and produce complex and ad hoc departmental reports, spreadsheet and project work related to various risk disciplines.
- Independently evaluate the area's management of key processes for the effective and efficient mitigation of operational risk. In risk-based and collaborative manner, ensure underlying elements of the risk management framework accurately reflect the operational risk environment. Identify gaps or deficiencies, and ensure remediation activities address the risk. Escalate through the governance structure up to and including senior management/governance committees, as appropriate. Lead initiatives to analyze various elements of said framework.
- With levels of oversight and guidance, prepare and support appropriately detailed reports/presentations for/to management relating to and providing opinions on, the state of and/or concerns with the operational risk environment of the business function.
- Work with the Business to evaluate all new products or changes to existing products and services to ensure key risks are appropriately identified and mitigated, and residual risk is appropriately defined. Coordinate applicable governance activities.
- Effectively communicate with others throughout the Bank, including senior management, via phone, email or in person to obtain information necessary for the completion of reporting, project information and issue resolution.
- Prepare and present materials/presentations to senior managers.
- Actively participate in designated risk committees and other meetings, serving as the second line of defense representative in any discussions. Ensure the communication of relevant concerns or positions taken to appropriate management.
- With minimal oversight, serve as an active liaison to assigned business units (BUs). Have working relationships with line management and key personnel to ensure two-way communication on issues and concerns. Escalate significant and/or unresolved risk-related matters to Department management.
- Work collaboratively with Senior Managers within the Risk Division and Bank, first line risk and other second line risk partners, to develop value-added process improvements, resolve risk issues, and enhance reporting and/or information necessary to assess risk.
- Draft/Document/Review departmental procedures and other documentation to demonstrate the process. In addition, develop training materials to be leveraged by those within the department or the Bank.
- Interact with external peers and members of professional organizations to remain aware of changing or emerging risks and proactively bring key information to team for inclusion/consideration in continuous monitoring and/or other oversight activities.
- Discern, formalize and socialize the impact, likelihood and root cause of issues and/or violations of policy.
- Determine appropriate adjustments to processes and supporting procedures to ensure they address the risk in a cost-effective manner.
- Effectively assess both impact and likelihood in using discretion when determining the appropriate approach to resolving matters that require resolution.
- Meet training requirements assigned by the Bank, Division and Department through self-management of appropriate, applicable, cost-effective training opportunities. Proactively pursue knowledge of new bank initiatives (i.e. Agile project management methodology). Limited travel may be required for infrequent seminars and conferences.
- Lead and/or support efforts to develop and improve training materials utilized by the department and/or the Bank.
- Provide guidance and direction to others regarding various matters, which may include the data necessary for the construction of simple quantification methods, predictive statistical models or other items intended to enhance risk reporting.
- Support levels of change internally within the department or externally within the Bank, in a positive manner. Develop solutions to issues based upon limited information and make adjustments to challenging external requirements.
- Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
- Promote an environment that supports diversity and reflects the M&T Bank brand.
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
- Complete other related duties as assigned.
Specific to Posting:
Risk Governance: Supports the CRO and the Bank by managing the administrative governance, coordination and ongoing maintenance of the Bank’s framework for managing risk.
Operational Risk - WISD: Provides effective oversight and challenge of the identification, assessment, monitoring, mitigation, and reporting of all significant risks within the Wealth & Institutional Services Divisions.
Operational Risk - Enterprise Security: Provides effective oversight and challenge of the identification, assessment, monitoring, mitigation, and reporting of all significant risks within Cybersecurity, Technology, Financial Crimes, Physical Security and Continuity Planning areas of the Bank.
Corporate Insurance: Provides administrative support toward the maintenance of M&T Bank's insurance program, including monthly reporting, invoice processing, and claims management.
Operational Risk Loss and Measurement: Ensures that the operational risk appetite is defined through policies and standards, and monitors and reports the Company’s adherence to the framework as well as individual business units leveraging risk/event data.
Operational Risk - Core Bank: Supports eGRC system administrative and reporting processes.
Supervisory/Managerial Responsibilities:
No direct management but may provide guidance to analysts and specialists.
Education and Experience Required:
Bachelor’s degree and six years' experience in compliance, legal, audit, risk or other relevant function,
OR in lieu of degree,
A combined minimum ten years’ higher education and/or work experience including six years’ experience in compliance, legal, audit, risk or other relevant function.
Proficient computer skills (including spreadsheet and word processing software), analytical skills, working knowledge of applicable laws, written and verbal communications w/ all levels.
M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $97,869.52 - $163,115.87 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.
Location: Buffalo, New York, United States of America
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