Business Controls Manager at Fifth Third Bank

Cincinnati, Ohio, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial ServicesIndustries

Requirements

Strong knowledge of technology risk management as first line of defense
Experience in identifying, assessing, mitigating, and managing risk in complex lines of business or functional areas
Ability to evaluate industry, market, and regulatory environments to anticipate changes
Accountability for risk management, openly exchanging ideas, elevating concerns, and following policies and procedures
Commitment to doing the right thing for customers and colleagues to drive positive customer experience
Strong regulatory knowledge, including compliance with laws, regulations, standards, and requirements like OCC Heightened Standards
Ability to perform continual forward-looking scans of industry, regulatory, and legal trends
Skills in organization design and effectiveness to maximize governance and productivity with appropriate talent
Experience providing guidance and training on enterprise risk management frameworks

Responsibilities

Establishes processes including first line of defense risk limits, policies to identify, measure, monitor, and control risks consistent with Bank’s and LOB’s risk appetite
Assists Business Controls leadership with developing strategies and implementing controls, policies, and procedures to increase effectiveness and efficiency
Exercises judgment to influence senior business managers and peers for enforcement of strong risk and governance management while balancing business strategy
Works with Business Controls leadership and LOB/function to translate strategies into actionable plans
Works with senior leadership to develop, implement, and communicate organization’s mission, goals, and strategies regarding business controls within ERM framework
Proactively manages relationships with internal business control groups and second/third lines of defense (compliance, legal, enterprise risk, audit)
Represents LOB or function on appropriate Bancorp Risk governing committees
Highlights control breakdowns, inadequate processes, unexpected events, and implements corrective actions; notifies management of policy and risk limit changes
Manages and provides comprehensive reporting on key issues from business, control functions, audit, or other sources
Quickly resolves issues raised by second/third lines of defense and external auditors
Reviews policies for completeness and adherence to risk appetites, ensures central maintenance in Policy Center
Leads execution of regulatory change management

Skills

Risk Management

Business Controls

Regulatory Compliance

Risk Assessment

Policy Development

Governance

Technology Risk

Internal Controls

Risk Monitoring

Risk Reporting

Fifth Third Bank

Provides banking, loans, and wealth management services

About Fifth Third Bank

Fifth Third Bank offers a variety of financial services, including personal and business banking, loans, mortgages, credit lines, and insurance products. Their services cater to individual consumers, small businesses, and commercial clients, providing comprehensive solutions for managing finances. The bank generates revenue through interest on loans, service fees, and commissions from insurance and investment products. Unlike many competitors, Fifth Third Bank emphasizes community engagement and financial education, providing resources to help clients improve their financial literacy. The goal of Fifth Third Bank is to support clients in achieving their financial objectives while fostering a strong connection with the communities they serve.

Cincinnati, OhioHeadquarters

1858Year Founded

IPOCompany Stage

Social Impact, Financial ServicesIndustries

10,001+Employees

Benefits

Health Insurance

Paid Sick Leave

Paid Holidays

Performance Bonus

Flexible Work Hours

Risks

Rising interest rates may decrease demand for loans and mortgages.

Competition from fintechs like Robinhood threatens Fifth Third's wealth management sector.

Sophisticated cybersecurity threats pose risks to customer data and trust.

Differentiation

Fifth Third Bank offers comprehensive financial solutions for individuals and businesses.

The bank emphasizes community engagement and financial education for client empowerment.

It provides a wide range of insurance products, including life, health, and disability.

Upsides

Increased demand for digital banking boosts Fifth Third Bank's online service offerings.

Partnerships with fintech enhance technological capabilities and customer experience.

Growing interest in sustainable finance attracts environmentally conscious customers.

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