Business Controls Associate - Commercial and Payments IT

Fifth Third Bank; Cincinnati (OH); On-site; USD 110,000 - 140,000; Full time

Job summary

Fifth Third Bank in Cincinnati, OH is seeking a General Risk Analyst for Commercial IT and Payments IT platforms. In this role, you will analyze and mitigate risks, transform data into business insights, and support the ERM framework across the enterprise.

You'll work with Business Controls to implement controls, monitor regulatory changes, and report risks to stakeholders. A strong background in payments ecosystems and cloud technology is essential.

Qualifications

• Bachelor’s degree in related field required.
• Strong verbal and written communication skills.
• Analytical and able to interpret policies and regulations.
• Working knowledge of payments ecosystems (ACH, wires, real-time payments) and cloud concepts.

Responsibilities

• Assist Business Controls leadership with strategy and controls implementation.
• Provide analysis related to risks in payments IT platforms and cloud.
• Investigate root causes of operational losses.
• Gather and report risk data to develop solutions.
• Prepare status reports and presentations for management.
• Stay informed of industry best practices and regulatory changes.
• Support resolution of internal audit, compliance, or risk issues.
• Collaborate with second/third lines of defense.

Skills

Verbal communication

Written communication

Analytical thinking

Payments ecosystem knowledge

Cloud computing concepts

Education

Bachelor’s degree in related field

Job description

Make banking a Fifth Third better® We connect great people to great opportunities. Are you ready to take the next step? Discover a career in banking at Fifth Third Bank.

Why Fifth Third?

• Be part of a purpose-driven bank that puts customers, communities, and employees first
• Play a key role in the Bank’s Commercial Banking and Payments technology platforms, including cloud adoption and modernization
• Work in a culture that values collaboration, inclusion, integrity, and continuous improvement
• Grow your career while helping modernize banking in a well-governed, responsible way

GENERAL FUNCTION:

As first line of defense, conducts analysis related to identifying, assessing, mitigating, and managing risks necessary to comply with new or changing laws, regulations, regulatory guidance, and best practices, with a primary focus on Commercial IT and Payments IT platforms, processes, and supporting technologies. Supports Business Controls in advancing risk management, structure, processes, and tools in support of the organization’s Enterprise Risk Management (ERM) framework. Transforms data into business intelligence by developing and presenting information and insights to stakeholders. Monitors and manages risks to ensure compliance and validation of program effectiveness with assigned line of business or functional area, and Bancorp initiatives.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank’s and LOB’s risk appetites, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Assists Business Controls leadership with the development of strategies and the implementation of controls, policies, and procedures to increase effectiveness and efficiency related to Commercial IT and Payments IT platforms and technology-enabled processes.
• Provides relevant expertise and analysis to stakeholders related to the identification, assessment, control, monitoring, testing, and reporting of risks as they relate to payments systems, transaction processing, technology, cloud, product, third-party, and operational risks.
• Investigates and assists in root cause analysis in instances of actual or potential operational loss.
• Gathers, analyzes, aggregates, and reports on risk data to develop solutions to analytical, implementation, and/or execution issues.
• Prepares status reports and presentations to keep all levels of management and internal partners abreast of key milestones, alternatives, and potential risks.
• Stays informed of industry best practices and regulations to ensure compliance with all applicable laws, standards, and requirements, including, but not limited to Payments, Commercial Banking technology, cloud computing, cybersecurity, technology operations , and OCC Heightened Standards.
• Supports the resolution of internal audit, compliance, or risk management related issues that could impact the classification, availability, integrity, or resiliency of payments and commercial systems.
• Highlights control breakdowns, inadequate processes, and unexpected events and implements corrective actions in partnership with Business Controls leadership to address process and control deficiencies.
• Builds effective relationships with other internal business control groups and the second and third lines of defense (such as Legal, Compliance, Enterprise Risk, and Audit).
• Collaborates with groups responsible for ensuring adequate information barriers are established, and the Bank’s compliance with policies and processes are in place in order to control the flow of certain information.
• Assists with execution of regulatory change management program to ensure applicable regulatory changes are identified, assessed against business processes, reported, and complied with as related to payments processing, commercial platforms, and technology infrastructure.
• Partners with business managers in implementing remediation actions per the Bancorp issues management framework and assists in the coordination of business ownership of processes, risks, controls, and tests.
• May assist in the coordination for updates to archive systems (e.g., Open Pages, PPM, etc.).
• May help to conduct RCSA and facilitate sessions where risks and Controls are rated.
• May, if applicable, assist in the external change management for credit bureau working with centralized team and Business Controls leadership as build out testing.
• Works with LOB to identify initial set of inherent risks and controls for payments products, commercial services, and supporting systems and processes and identifies applicable governance processes.
• May assist in the determination of identifying loss events with applicable RCSA risks/processes and coordinate root cause analysis and action plan evaluation with LOB.
• Partner with Support Functions or Risk Experts to identify applicable Enterprise and R M Appetite indicators; coordinate with LOB root cause analysis, action plan development, and implementation.
• Collaborate with LOB on threshold evaluation and proposed changes and enter proposed indicators and changes in the appropriate tool or system.
• Actively participates in issue remediation.
• Executes assigned components of the ERM Scenario Analysis program, including technology, cyber, and digital disruption scenarios.
• Develop and manage product inventory of payments products and commercial services and execute on ERM product risk review program.
• May have additional responsibilities as assigned by LOB/Function leadership and Risk, including but not limited to:
  • Assistance with new government programs or special internal projects.
  • Assistance with new risk programs required by regulatory authorities or ERM.
  • Assistance with diligence, closing, and other matters relating to acquisitions and strategic investments.

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED :

• Bachelor’s degree in a related field or equivalent experience required; degree in Computer Science, Cyber Security, Information Systems, or a technology-related field preferred. Master’s degree preferred.
• 3-5 years of financial services industry, risk, business controls or compliance experience preferred.
• Professional verbal and written communication skills and the ability to communicate with discretion and understanding when confidentiality is needed.
• Must be analytical and possess ability to interpret and apply policies and regulations across a complex business.
• Working knowledge of payments ecosystems (ACH, wires, real-time payments), commercial platforms, cloud computing concepts, and technology-enabled business processes.
• Must identify opportunities and take action to build trusting strategic internal and external relationships and networks.
• Must be approachable, collaborative, and have the ability to influence others through interpersonal skills, thrive in a fast-paced dynamic environment, and be comfortable quickly shifting priorities on short notice.
• Working knowledge of Microsoft Office products required.
• Ability to work with minimal supervision.
• For Investment Advisors: FINRA Series 7 and 63/66 licenses preferred. Knowledge of the Securities industry and SEC / FINRA regulations is preferred.

Preferred certifications include one or more of the following:

• AWS Certified Solutions Architect or AWS Certified Security – Specialty
• Certified Information Systems Security Professional (CISSP)
• Certified Information Security Manager (CISM)
• Certified Information Systems Auditor (CISA)
• Certified Cloud Security Professional (CCSP)
• Certified in Risk and Information Systems Control (CRISC)
• ITIL, COBIT, or other technology risk, audit, or governance-related certifications
  Business Controls Associate - Commercial and Payments IT

At Fifth Third, we understand the importance of recognizing our employees for the role they play in improving the lives of our customers, communities and each other. Our Total Rewards include comprehensive benefits and differentiated compensation offerings to give each employee the opportunity to be their best every day.

The base salary for this position is reflective of the range of salary levels for all roles within this pay grade across the U.S. Individual salaries within this range will vary based on factors such as role, relevant skillset, relevant experience, education and geographic location. In addition to the base salary, this role is eligible to participate in an incentive compensation plan, with any such payment based upon company, line of business and/or individual performance.

Our extensive benefits programs are designed to support the individual needs of our employees and their families, encompassing physical, financial, emotional and social well-being.You can learn more about those programs on our 53.com Careers page at: https://www.53.com/content/fifth-third/en/careers/benefits.html or by consulting with your talent acquisition partner.

LOCATION – Cincinnati, Ohio 45202

Fifth Third Bank, National Association is proud to have an engaged and inclusive culture and to promote and ensure equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.