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Consumer Banking Business Unit Risk Officer

Wsfs Financial

Wilmington, Delaware

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JOB DETAILS
SALARY
$92,869–$152,569
SKILLS
Bank Management, Banking Operations, Banking Services, Business Banking, Community Support, Corrective Action, Credit Risk, Documentation, Embedded Systems, Futures, General Ledger Accounting, Identify Issues, Interest Rates, Internal Audit, Leadership, Liquidity, Maintain Compliance, Operational Improvement, Operations Management, Operations Processes, Problem Solving Skills, Procedure Development, Process Flow, Process Improvement, Regulations, Regulatory Compliance, Relationship Management, Risk, Risk Analysis, Risk Management, SOX 302, Time Management, Validation Testing, Wealth Management
LOCATION
Wilmington, Delaware
POSTED
30+ days ago
Job Description

At WSFS Bank, we empower our Associates to grow their careers, guide our customers to secure their financial futures, and actively support our Communities so they can fully thrive. Careers with WSFS Bank offer an inclusive and supportive culture, competitive salaries, advancement opportunities, and more. We are the region's locally headquartered bank and wealth management company. We are honored to consistently be named a Top Workplace by our Associates, who make a difference every day for the people, businesses, and Communities we serve. We Stand For Service® is more than part of our name, it's our mission and our purpose.

The Business Unit Risk Officer is a dedicated risk leader embedded within the Consumer Banking Division. This role is responsible for promoting a strong risk culture and ensuring risk management practices are effectively integrated throughout Consumer Banking operations. This role will serve as a subject matter expert within the Consumer Bank as well as a point person to the Risk Division (ERM, Compliance, etc.) and Internal Audit; ensuring timely identification, assessment, escalation, and remediation of all applicable categories of risk (Credit, Interest Rate, Liquidity, Price/Market, Operational, Compliance, Strategic, and Reputational risk), and emerging risks as required by applicable Risk Division policies/programs. The incumbent will own the risk management responsibilities and deliverables, on behalf of the Consumer Banking division and collaborate with senior leadership to ensure timely and accurate completion of these deliverables. This role is essential for advancing risk-informed decision-making, ensuring business initiatives align with the organization's risk appetite, fulfilling regulatory, and internal expectations.

Job Responsibilities:
  • Act as the Consumer Bank's primary contact for all risk matters and ensure alignment between front-line activities and risk management expectations.
  • Build and successfully manage relationships with key stakeholders and senior leadership within the Consumer Bank to maintain knowledge and awareness of departmental operations, risk management developments, and new/changes to processes, products, services, and initiatives.
  • Periodically meet with business unit ELT and senior leaders to complete and review risk monitoring activities (quarterly risk assessments) and other risk management deliverables as needed.
  • Identify and escalate business risk related issues and ensure issues self-identified by others in the Consumer Bank are timely, properly escalated and reported through the appropriate business unit channels (e.g. self-identification process, ERM, management committees, SOX 302 certifications, etc.)
  • Identify and escalate control failures, breaches or suspicious activity in accordance with established procedures.
  • Recommend updates to business policies, procedures and/or practices, consistent with established or identified risk protocols.
  • Support timely remediation and track corrective action plans to closure.
  • Develop and manage Key Risk Indicators (KRIs) against established thresholds/risk limits to ensure compliance with risk appetite on a quarterly basis. Investigate threshold breaches and create a formal action plan to remediate breaches.
  • Own Risk and Control Self-Assessment (RCSA) process by creating and validating process flow(s) that document the process, identifies controls, and control gaps. Partner with applicable stakeholder(s) to address issues or recommendations based on RCSA output.
  • Proactively identify opportunities to strengthen risk controls and improve operational processes. Identify and escalate instances of emerging risks to Consumer Banking leadership and ERM partners for consideration and discussion.
  • Participate in the annual review/evaluation of risk appetite(s) applicable to the Consumer Bank. Collaborate with senior leadership to ensure the risk appetite(s) accurately reflect the organization's willingness to take on specific risk(s).
  • Report monthly Operational Risk Event activity by reviewing provided general ledger activity and engaging stakeholders throughout assigned business unit(s). Document associated lessons learned around circumstances and root cause(s) to ensure events are properly understood and remediate. Provide updates on ongoing remediation efforts.
  • Review action plans and remediation evidence for business issues (Audit, Regulatory, Compliance, Operational, or self-identified issues) for adequacy prior to business submission as complete for validation testing.
  • Serve as a visible risk leader within the Consumer Banking Division, ensuring fellow Associates understand their risk responsibilities and they are com

About the Company

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Wsfs Financial