The Business Control Specialist is an individual contributor member of the U.S. Registration and Licensing team. Registration & Licensing (R&L) is responsible for providing securities registration, mortgage licensing and state insurance licensing support to Front Line Units (FLU) and their associates. The Registration & Licensing Team supports State Departments of Insurance, FINRA, NFA and OCC regulatory filings, monitoring and testing activities, and is also responsible for responding to inquiries from the FLU and regulators.
Principle accountabilities for this position include: initiating, amending and terminating entity and branch registrations and licensing; and ensuring timely and accurate responses to inquiries; meeting team productivity standards; identifying and participating in process improvements and regulatory change projects; working with lines of business, external partners and regulators on special projects; and developing and maintaining department desk procedures.
Activities this role performs for their area of coverage include, but are not limited to:
- Create and maintain a regulatory inventory.
- Update relevant policies to ensure they reflect regulatory requirements.
- Conduct compliance and operational risk assessments.
- Support group's work to review and challenge Risk & Control Self-Assessments (RCSA)
- Contribute to monitoring and testing coverage plans and related metrics.
- Identify, aggregate, report and escalate risks, issues and control enhancements for FLU/CF.
- Identify, collect, validate and record internal loss events and "near misses." Contribute to root cause analyses on internal loss events and develop remediation plans to strengthen controls.
- Identify, review and document relevant external loss events.
- Assist with preparations for regulatory exams and audits for FLU/CF.
- Inspect that commitments made regarding actions in response to Matters Requiring Attention ("MRAs") and other actions are completed for FLU/CF.
- Escalate regulatory relations concerns to Business Control Manager or Executive.
- Insurance licensing and mortgage registration support to the front line units (FLU).
- Minimum Years Business & Functional Experience: 2 Years
- Bachelor's Degree or equivalent experience
- Ability to handle difficult conversations with internal clients, business partners, and regulators
- Ability to multitask; completing a high volume of transactions within specific deadlines
- Ability to analyze documents for accuracy and risk; mitigate and/or escalate where appropriate
- Ability to accurately perform functions with little direction
- Must possess excellent time-management and problem solving capabilities
- Follow-up initiative to resolve items
- Strong written and verbal communication skills including the ability to communicate and work with all levels within the organization and with external regulators
- Strong attention to detail
- Possess a positive, cooperative, and professional attitude
- Exhibit strong teamwork and interpersonal skills
- Computing skills for windows applications
- Ability to appropriately handle sensitive and confidential material
1st shift (United States of America)Hours Per Week: