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Risk Analyst, Enterprise Risk Management
Location:Mackey Street Head Office
Job Type:Enterprise Risk Management
FT/PT Status:Regular Full Time
  

Major Responsibilities:

GENERAL ACCOUNTABILITIES: 

The Risk Analyst (RA) is a specialist administrative capacity that is primarily responsible for the execution of assigned tasks in all aspects of the Enterprise Risk Management Program, which are designed to provide a broad range of risk and data analysis, reporting, support to multiple stakeholders and to provide for effective identification, measurement, monitoring, and mitigation of identified risks.  Accordingly, the RA:

  1. Ensure improvement and evaluate the effectiveness of risk management, control and governance processes.
  2. Contribute to the development of a robust control environment, appropriate policies and procedures and enhanced technology platforms.
  3. Works closely with Risk Owners and delegated Risk Champions, and applies comprehensive analytical thinking and knowledge of data analysis tools, risk modeling and methodologies.
  4. Requires attention to detail when making judgments and recommendations based on the analysis of factual information.
  5. Applies professional judgment when interpreting data and results, and breaks down information in a systematic and communicable manner.
  6. Deals with most problems independently and has a relative degree of latitude to solve complex problems.
  7. Maintains a high standard of professionalism and confidentiality.
  8. Integrates in-depth specialty area knowledge with a solid understanding of industry standards and practices.


ESSENTIAL DUTIES & RESPONSIBILITIES:
- Assess, evaluate and mitigate risks via risk-based approach testing, analytics, and predictive modeling, sufficiently to enable mitigating action and limit Bank exposures.

- Serves as a direct liaison for efficient and effective cross functional collaboration with Bank-wide leadership and functional areas of the Bank to ensure enterprise-wide strategies fit varying business models/products and to support achievement and delivery of products and services, in alignment with established risk appetite and tolerances..

- Maintains a centralized database of enterprise risk management information and aggregation of risk data and analysis.

- Maintains a regulatory and economic reporting database, and completes the regulatory overview and assessment reporting 

- Assist with the evaluation, training and development of a dynamic risk framework, and maintain data gathering, assessment, compilation and reporting of risk management, sensitivity and analytics, across all core functional areas of the Bank.

- Support risk and data analysis, and reporting of enterprise-wide risks including, AML/CFT risks, operational risk management, credit risk management, legal and regulatory matters, information security, business continuity, outsourcing risk management, fraud risk management and fraud investigations, and policies and procedures.

- Report and monitor risks identified in the normal course of business, industry trends/lawsuits/penalties, risk assessment results, projects/initiatives, outstanding audit/regulatory findings, and assessments of large losses/significant events. This includes reporting on identified risks and potential mitigation plans. 

- Maintain the enterprise-wide risk and control self-assessment (RCSA) report, including coordinating with 1st, 2nd and 3rd line of defense managers to update risks, controls and assessments.

- Maintain the Bank’s ERM Report, including updating key risk indicators, limits and thresholds, and ensure accurate and timely reporting to the Risk Management Committee. 

- Collect data and report on economic, market and industry trends to assist in identifying potential risks associated with proposed new products and strategies.

- Perform ad-hoc risk analysis as requested by the Executive Chairman, President, Chief Risk Officer and/or the Risk Management Committee.


REPORTING & ANALYSIS:

Monthly

The Risk Analyst ensures completion of the enterprise risk reporting requirements for Executive Management and the Risk Committee of the Board.  Follows up with key stakeholders to obtain the necessary information/data to complete the reports as follows (but not limited to):

  • Department Specific Risk Reports;
  • Enterprise-wide Risk Register;
  • Consolidation of Department Quality Self-Assessment Reports;
  • Risk Management Issues & Remediation tracking database;
  • Economic & Regulatory Analysis Reporting;
  • Innovation and Emerging Trends Report


Quarterly& Annual

  • Ensure completion of Enterprise-wide Risk Reporting & Analysis
  • Prepares relevant Executive Management and Board reporting and assessment.

Other

  • Ensure completion of Quality Assurance reviews.
  • Ensure completion of Risk Planning documents prior relevant meetings.

Qualifications, Skills and Experience:

Strong customer service skills and commitment to Service Quality
Ability to interact with others in a respectful, professional and cordial manner 
Ability to work on own with minimal supervision
Excellent verbal and written communication skills
Excellent leadership, organizational and time management skills
Excellent work ethics, punctuality and attendance record       

 

Personal Attributes:

EDUCATION/WORK EXPERIENCE/ SKILLS AND ABILITEIES

Education

  • Undergraduate degree in Banking and Finance, Business Administration, Accounting, Economics or equivalent qualification from a recognized tertiary institution;
  • Professional Certification in Risk Management (i.e. Certified International Risk Manager, Certified Risk Manager, Financial Risk Manager or equivalent certification).
  • Professional Membership within risk management or related field.

 

Work Experience

  • At least 3 years of progressive, varied risk management experience, within similar or related industry.

Remuneration Package:

Commonwealth Bank is a Great place to work! We offer an exciting work environment with the opportunity for growth and development. We also offer a competitive compensation package, reflecting the successful applicant’s experience and qualifications, including a performance based incentive plan, health, vision, dental and life insurances and a pension plan.  

Qualified individuals should complete the online application and submit their resumes to:

www.careers.combankltd.com/careers