• Operational Risk Control Associate

    ID
    2019-7478
    Job Locations
    US-CA-San Francisco
    Category
    Wealth Management
  • Overview

    The Operational Risk Control Associate will report directly to the Private Wealth Management (PWM) First Line Risk Manager and will engage with all business lines within PWM, including First Republic Investment Management, First Republic Securities Company, First Republic Trust Company and First Republic Foreign Exchange.

    In this role the individual will partner with Enterprise Risk Management and escalate material risk events and emerging risks that could impact the Bank’s risk profile.

    The individual will be charged with assisting with the execution of the Risk & Control Self-Assessment (RCSA), which includes both an annual refresh and extemporaneous cycles based on trigger events. Additionally, the role will have a strong focus on control testing.

     

    Knowledge of federal and state laws, regulations and guidance, including those related to Anti-money laundering (i.e. Bank Secrecy Act, US PATRIOT Act, etc.) is essential for this role.

     

    Additional Information:

    First Republic is an ultra-high-touch bank that provides extraordinary client service. We believe that one-on-one interactions build lasting relationships. We move quickly to serve our clients’ needs so that their financial transactions are handled with ease and efficiency. Client trust and security are paramount in our line of business. Ultimately, our goal is unsurpassed client satisfaction which will lead to personal referrals – our number one source of new business. We recognize that our competitive advantage starts with our people and our culture. At First Republic, we work hard and move quickly as a very coordinated team. If you are looking for an opportunity to grow and contribute in a fun, fast-paced environment, First Republic is the place for you. We have exceptional people focused on providing extraordinary service.

    Responsibilities

    • Ability to quickly develop rapport with internal and external partners and key stakeholders
    • Assist with performing risk oversight and assessment activities including, but not limited to business line control testing and validation, root cause analysis of material operational errors and events, and targeted risk and control assessments
    • Provide guidance to risk owners regarding identified testing exceptions or deficiencies and collaborate with the business to follow up on the remediation activities.
    • Assist with Quality Assurance testing for SOX as needed.
    • Assist in preparing RCSA summary report and dashboard to be presented to executive management and the Chief Risk Officer at First and Second Line of Defense challenges
    • Perform other duties as assigned

    Qualifications

    Qualifications

    • Risk mindset and strong understanding of control testing and risk and control assessment process or audit fundamentals
    • Bachelor’s Degree or higher
    • Minimum of 3 years related experience in financial services with exposure to wealth management and risk management preferred
    • Independently takes initiatives with minimum guidance and supervision; be a self-starter
    • Excellent communication skills and attention to detail
    • Highly motivated and able to adapt to changing priorities
    • Ability to be a team player with positive energy
    • Strong analytical skills with ability to identify root cause and help drive action plans to closure
    • Demonstrates a natural curiosity and a willingness to learn/ask questions
    • Strong organization and prioritization skills
    • Proficient in Visio, Excel, PowerPoint, Outlook and Word

     Physical Requirements

    • Vision must be sufficient to read data reports, manuals and computer screens
    • Hearing must be sufficient to understand a conversation at a normal volume, including telephone calls and in person
    • Speech must be coherent to clearly convey or exchange information, including the giving and receiving of assignments and/or directions

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