ERM Analyst at Fifth Third Bank

Cincinnati, Ohio, United States

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Not SpecifiedCompensation

Mid-level (3 to 4 years)Experience Level

Full TimeJob Type

UnknownVisa

Banking, Financial ServicesIndustries

Requirements

Understands all operational risk Program elements (i.e. RCSA, BCRA, KRI, etc) methodology, governance, standards and procedures, including templates and overall framework
Understand the organizational structure, Key management personnel, and primary objectives of the LOBs supported
Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined
Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience
While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types

Responsibilities

Manage risk management programs for assigned divisions/functions. Maintain a balance between increased efficiency and appropriate risk mitigation and controls for the Line of Business (LOB)/function in alignment with Enterprise Risk Management vision and strategy and the LOB strategic plan
Provide oversight and credible challenge to LOB/functions and escalates concerns, as appropriate, in support of the Bank's Risk Management Framework
Ensure the operational risk appetite is understood by the business
Partner with LOB for risk Issue identification, escalation and resolution
Oversee the identification and documentation of Key operational processes, risks and Controls for the LOBs assigned
Utilize RCSA to assess that Controls are adequate to manage risks identified and, where control gaps are identified, that action plans are appropriate and completed timely
Monitor external environment for assigned line of business(es), Understand and escalate significant Regulatory changes
Provides oversight as 1st LOD completes their impact assessment and determination of changes needed and Risk Rating of the change. May provide challenge as working with more senior risk team members
Serve as lead resource and Provide guidance to the LOB on risk management issues
Provide oversight of LOB risk Program activities. programs Include, but are not limited to, Key risk indicators, risk control Self assessments, Sarbanes Oxley, business Change risk Assessment, policy/Guideline Reviews, and operational losses
Serve as Key operational risk stakeholder on business Change risk assessment. Actively Participate in developing and Reviewing new or proposed process or procedural changes, products, or business initiatives with an operational risk perspective
May participate in or lead program councils (e.g. BCRA Council)
Attend operational risk Council meetings and report out on trends, issues, losses from an operational risk perspective
Ensure policies, guidelines and procedures are consistently and uniformly applied within the line of business division and ensure proper Review and timely update in accordance with the established Review cycle to ensure they are kept up to date
Reviews operational loss trends for assigned areas and Reviews escalated items
May Prepare operational loss data for reporting related to a specific LOB
Provides oversight and credible challenge to operational loss root cause analysis and action plans
Performs periodic Reviews of LOB procedures and Provides guidance for new processes
Effectively manage the staff to ensure that the goals and objectives of the Division and the Bancorp are achieved by providing employees with timely, candid and constructive performance feedback; developing all employees to their fullest potential and providing challenging opportunities that enhance employee career growth; recruiting and developing the appropriate talent pool to ensure adequate bench strength

Skills

RCSA

BCRA

KRI

Operational Risk Management

Risk Assessment

Risk Controls

Risk Appetite

Risk Issue Management

RCSA Methodology

Control Gap Analysis

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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