The Control Manager is a component of the overall Internal Control and Operational Risk Management function. While Operational Risk is a key focus area, the Control Manager will have general oversight of a variety of risks.
The Control Manager in LOB Internal Control is directly responsible for activities relating to operational risk and internal control as part of the First Line of Defense. In this role, the Control Manager works closely with the business unit, the Central Internal Control area, as well as specialized Control Managers and Control Specialists.
Specific Duties and Responsibilities:
- Follow established Operational Risk Management procedures.
- Identify, assess, and mitigate operational risk.
- Assure a strong control framework around risk exposures.
- Research/analyze causes of operational losses.
- Prioritize mitigation activities based on analysis of risk impact.
- Coordinate with stakeholders to ensure adequacy of action plans, as appropriate.
- Monitor progress of operational risk controls.
- Facilitate quarterly risk assessments of the business unit.
- Document risk issues, recommendations, and decisions.
- Manage Line of Business risks, controls and test plans within Operational Risk System
- Serve as an expert in various aspects of operational risk management.
- Perform risk assessments of significant LOB-oriented projects.
- Evaluate the adequacy of documented risks and controls.
- Monitor KRIs of business unit.
- Assist LOB and Project Management with approval process for new products/initiatives.
- Work closely with Legal and Compliance to manage risks of business unit.