Business Risk and Controls Manager- Commercial Deposits

Position: Business Risk and Controls Manager- Commercial Payments and Deposits
Position Summary The Business Risk and Controls Manager is responsible for developing and maintaining treasury management, payments, and deposits business risk processes to minimize the organization's exposure to regulatory criticism, reputational harm and financial risk of loss. This position serves as the business line’s risk management subject matter expert for a variety of payment products and processes, industry rules, standards, and best practices.

The Business Risk and Controls Manager also provides end-to-end consultative advice across treasury management and payments processes to manage a variety of risk and compliance topics.

Duties & Responsibilities Assess controls frameworks throughout both the commercial payments business line as well as Firs Tech/Busey Payments; coordinate improvement plans to address gaps or weaknesses identified Provide guidance on control improvements to ensure control design objectives adequately mitigate risks identified in an operationally efficient manner

Provide recommended solutions to resolve findings or deficiencies; implement monitoring to prevent reoccurrence after findings are remediated

Collaborate with business line staff to develop risk-based control testing standards to evaluate the design and operating effectiveness of controls; includes sample testing, end-to-end process reviews, and establishing key metrics and indicators

Develop end-to-end risk management reporting to inform management and oversight bodies of the direction of risk as identified through client composition, transaction types/volumes, and monitoring of third-party originators, ACH/RDC returns, credit reviews, fraud events/losses, etc Provide direct assistance to business lines in support of fulfilling enterprise-wide efforts to identify, assess, measure, monitor, and report risk; when levels of risk are outside of appetite, assist in implementing mitigating controls to reduce risk levels;

includes annual risk assessments

Serve as a liaison between the business line and second line of defense to ensure appropriate coordination on changes in law, rules, and regulation by translating the regulatory impact into the business lines’ operations.  Ensure the business line operates in compliance with regulatory agencies and bodies that oversee payments as well as internal policies and standards

Support change management processes necessitated by the impact of new products and services, new standards or technologies, new or changing rules or regulations

Assist in establishing and maintaining process documentation that supports both consistency and continuity of operations, identifies interdependencies, and serves as evidential documentation for internal and external assessors and auditors

Create and maintain reporting that captures the status of a variety of risk and compliance projects and initiatives to keep business line staff and management, credit partners and second line partners informed about first line priorities and progress

Assist and support Treasury Management, Deposits, and Firs Tech/Busey Payments projects as needed

Education & Experience Knowledge of:

Strong oral and written communication skills; can adapt communication and presentation style to fit various audiences

In-depth and up-to-date knowledge of treasury management industry rules and standards, as well as banking laws and regulations specific to payment and deposit activities

Design and documentation of procedures and controls that promote consistent, repeatable, and auditable processes

Ability to:

Develop new procedures and approaches to remediate a variety of issues and findings

Develop testing and quality review programs and related metrics to measure effectiveness of business processes

Problem-solve by making…