Business Controls Senior Associate - Third Party Security at Fifth Third Bank

Cincinnati, Ohio, United States

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Not SpecifiedCompensation

Senior (5 to 8 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial ServicesIndustries

Requirements

Expertise in risk identification, assessment, control, monitoring, testing, and reporting
Knowledge of industry best practices, regulations, and standards (e.g., OCC Heightened Standards)
Ability to conduct root cause analysis for operational losses
Skills in reviewing vendor documentation (e.g., SOC reports, audit findings, compliance artifacts)
Proficiency in data analysis, integrating information from multiple sources, detecting trends, and transforming data into business intelligence
Experience with third-party risk assessments and evaluating vendor compliance
Capability to build relationships with internal and external stakeholders, including second and third lines of defense
Understanding of Enterprise Risk Management (ERM) framework, regulatory change management, and information barriers

Responsibilities

Assist business controls leadership with developing complex strategies, controls, policies, and procedures
Provide expertise and analysis to stakeholders on risks related to the business or functional area
Investigate and assist in root cause analysis for actual or potential operational losses
Support risk and control assessments, including review of vendor documentation tied to secure environments
Conduct third-party risk assessments to evaluate vendor compliance with policies, regulations, and best practices
Collect and integrate information to understand issues, detect trends, and identify opportunities
Stay informed of regulations and best practices to ensure compliance
Support resolution of internal audit, compliance, or risk management issues impacting data or processes
Highlight control breakdowns and implement corrective actions with leadership
Build relationships with stakeholders, business control groups, and lines of defense
Collaborate on establishing information barriers and ensuring compliance with policies
Serve as analytical and procedural expert on cross-functional processes or projects
Assist with execution of regulatory change management program
Assist in external change management for credit bureau if applicable

Skills

Risk Management

Regulatory Compliance

Business Controls

Root Cause Analysis

Enterprise Risk Management

ERM Framework

Data Analysis

Business Intelligence

Policy Development

Risk Assessment

Risk Monitoring

Operational Risk

Third Party Security

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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