BRCO Specialist Lead - Wealth Management

BRCO Issue Management Lead

The Business Risk and Control Officers (BRCOs) play a pivotal role in guiding the business to identify and understand risk exposures and the controls needed, which are integral to reducing risk and safeguarding our customers and colleagues. BRCOs are critical to the success of the Risk Management Lifecycle and play a role in Planning, Identifying, Assessing, Mitigating, Monitoring, and Reporting. BRCOs are members of the First Line of Defense (1

LOD) who:

• Provide leadership and coaching to the 1
  
  LOD to proactively identify and effectively manage risks.
• Translate and educate 1
  
  LOD to enable and drive business-relevant implementation of Second Line of Defense (2
  
  LOD) risk management frameworks, policies, taxonomies, and inventories.
• Review, validate, and test 1
  
  LOD activities to ensure adequate control design and effective control operation.
• Provide credible challenge to 1
  
  LOD colleagues, ensuring safeguard and risk mitigation measures are upheld in decision-making and adherence to 2
  
  LOD frameworks and policies prior to 2
  
  LOD review.
• Drive two-way collaboration across 1
  
  LOD and 2
  
  LOD; liaise between them to drive engagement throughout the risk management lifecycle.
• Collaborate and coordinate across the organization to help navigate and mitigate horizontal risk, promoting resilience and ensuring safety and soundness.
• Document, aggregate, and report risk in accordance with the risk management lifecycle.

The BRCO Issue Management Lead for the Line of Business is responsible for ensuring 1

LOD adherence and alignment to the Issues Management policy. They own the first line execution of the issues management strategy and may include loss management responsibilities, including strategies and practices to minimize financial losses. The role involves identifying potential risks and monitoring until resolution.

Position Responsibilities:

• Provide oversight and drive timely resolution of issues identified by self, second line, audit, and regulators.
• Advise 1
  
  LOD colleagues to develop and implement action plans, ensuring timely closure of issues, and validating remediation efforts.
• Offer insights and recommendations on issue management, including the number of risks identified, average resolution times, and emerging themes.
• Provide leadership and coaching to the 1
  
  LOD for proactive risk management.
• Translate and educate 1
  
  LOD on risk management frameworks, policies, taxonomies, and inventories.
• Review, validate, and test 1
  
  LOD activities to ensure controls are effective.
• Challenge 1
  
  LOD colleagues to uphold safeguards and risk mitigation measures.
• Facilitate collaboration between 1
  
  LOD and 2
  
  LOD to enhance engagement across the risk management lifecycle.
• Coordinate organization-wide efforts to navigate and mitigate horizontal risks, promoting resilience and safety.
• Document, aggregate, and report risks accordingly.
• May include responsibilities to minimize financial losses.

Knowledge and Skills:

• Knowledge of banking products, services, and workflows.
• Familiarity with critical business processes, controls, and objectives.
• Experience in driving issue resolution within financial services.
• Expertise in risk management, controls, and compliance frameworks and policies.
• Ability to influence stakeholders and challenge effectively at all levels.
• Strong relationship-building and communication skills.
• Analytical skills with the ability to interpret large datasets.
• Attention to detail, organizational skills, and ability to prioritize.
• Self-motivated, independent, adaptable, and capable of navigating complex environments.