IT Internal Controls Specialist I

Job Details

The position of IT Internal Controls Specialist I involves providing specialized support to the Operational Risk and Internal Controls Department in assessing business and operational processes, risks, and controls to ensure that they are appropriate and reliable and that they ensure compliance with regulations and internal policies and procedures.

Tasks and responsibilities

The duties and responsibilities include:

• Collaborate with various business partners to complete risk assessments and targeted operational risk assessment projects.
• Supporting the Principal Risk Owners and Principal Risk Coordinators in identifying key risks and mitigation measures within their business units.
• Conducting assessments to identify key risks and mitigation measures in daily operations and projects, as well as performing tests to identify potential control weaknesses and preparing appropriate documentation (working papers).
• Collaborate with the business units to develop action plans to address gaps in mitigation measures.
• Investigate and assess the causes of loss or gain events and assist business partners in addressing control deficiencies that have arisen as a result of such events.
• Review new product proposals to ensure that they are supported by internal policies, suitability processes, documentation, and compliance with laws and regulations.
• Testing self-assessments and controls to identify potential control weaknesses in departments and functions and recommend changes to minimize these weaknesses.
• Supporting third parties in the overall assessment and ongoing monitoring of open issues that require follow-up and resolution.
• Conducting research on regulations, disseminating information about regulations, and providing opinions and advice on regulations.
• Reviewing policies, procedures, and practices to ensure they comply with laws and regulations, and implementing necessary changes.
• Monitor the completion of all assigned activities by business partners to ensure that the agreed-upon changes have been implemented to address identified control weaknesses.
• Preparing reports on completed evaluations and materials for committees.
• Developing key risk indicators and supporting the business units in developing indicators.
• Performing tasks and fulfilling responsibilities specific to the department's functions and activities.
• Compliance with BSA/AML laws, regulations, and guidelines, as well as the bank’s BSA/AML policies and procedures, as part of the performance evaluation of all employees.
• Compliance with the principles, laws, regulations, and guidelines related to anti-money laundering and bank secrecy, as well as the associated policies and procedures.

Requirements

The requirements include:

• Bachelor's degree in business administration or a related field; equivalent professional experience is preferred