Job Title:- Business Risk and Control - Internal Control Testing Consultant
Location:- New York, NY 10020 Hybrid
Job Description
Business Risk and Control (BRC) is a 1st line of defense Operational Risk team responsible for identifying, assessing, monitoring, and controlling operational risk for all businesses and legal entities across. The Business Risk and Control team collaborates with the various business/entities and related support functions to manage operational risk and conducts reporting at the business line/entity level. Business Risk and Control is responsible for managing and implementing the MUSO Internal Control Testing program (ICT), which assesses key controls across the firm for both design and operating effectiveness.
Internal controls serve as a component of the first line of defense in mitigating risks, maintaining the integrity of financial and accounting information, promoting accountability, and preventing fraud. As such, they are an integral component of’s day-to-day execution of its business operations. To align with industry best practices and ensure the firm maintains a robust control environment, has developed a first line, risk based Internal Controls Testing (ICT) Program.
As Internal Control Testing Consultant, you will have the opportunity to learn the material processes, operational risks, and key controls across the firm by coordinating control testing for the highest risk processes. The Internal Control Testing Consultant will work with existing ICT team to complete the scheduled testing and documentation requirements of controls identified in the ICT program and address challenges from the 2LOD ORM team.
The ICT Team is also responsible for validating the banks EUC inventory and monitoring and verifying ongoing conditions identified in the New Product Approval Process. As Internal Control Testing Consultant, you will assist the ICT team in proactively monitoring and challenging ongoing conditions and assist in the periodic reporting process.
Skills:
Duties and responsibilities:
- Assist the ICT Team in performing risk-based control testing to assess internal controls for design and operating effectiveness
- Document testing results, collecting and archiving testing evidence
- Perform ICT walkthroughs with business units and corporate functions
- Liaise with business units and corporate functions to remediate control gaps/deficiencies
- Work collaboratively with the Operational Risk Management team to address any challenges and provide biweekly status updates
- Report on testing status to various working groups/committees
- Assist in the validation of in-scope EUCs
- Prepare reports/presentations for various business lines/entities and regional Risk Committees for ORM, Information Security, TRPM and BCP.
- Work with the various business and control functions to report risk metrics (KPI/KRI) for both business line and enterprise reporting
- Collaborate and work with stakeholders in coordinating monthly 1LOD Operational Risk reporting which includes data analysis and risk management activities through GRC tool
- Assist BRC with ad-hoc projects and initiatives as needed
- Monitor and verify ongoing conditions identified in the New Product Approval Process.
Qualifications:
- Eligible to work in the US
- Bachelor’s degree
- 2 years Operational Risk, BCP, TRPM, or Audit for a Bank/Financial Institution experience preferred
- Strong ability to track organize and analyze data
- Proficiency in MS Word, Excel, and PowerPoint
- Effective interpersonal skills to communicate and work well with various business lines
