Senior Business Risk Advisor - Wealth Management

Overview

This is a hybrid role, with the expectation that time working will regularly take place inside and outside of a company office. This role will be located in Raleigh or Charlotte, NC.

As a first line of defense risk professional, the Senior Business Risk Advisor for the First Citizens Wealth Business, which includes Investment Advisory, Trust, Asset Management and Private Banking. This role responsible for Business Unit (BU) risk activities in adherence with the Company's Risk Appetite and Corporate Strategy. Supports the management of business risks and controls across all risk types. Enables and/or monitors execution of risk policies, standards, procedures and/or program requirements. Provides advisory services to manage risks. Facilitates effective communication between the business, the 2nd & 3rd line, and regulators. Influences achievement of shared department goals. Acts as a mentor to associates.

• Supports the execution and implementation of policies, standards, and procedures with Wealth associates in alignment with the Company's risk management framework.
• Aids the Wealth team in identifying risks & control gaps. Leads the tracking and resolution of issues across the organization, ensuring timely escalation and remediation.
• Reviews and challenges risk programs outputs, ensuring bank, framework, and regulatory alignment.
• Participates in regulatory and Internal Audit inquiries, examinations, and audits in collaboration with internal stakeholders.
• Advises Wealth leadership in relevant risk governance meetings utilizing understanding of the BU operations, risks, controls and related laws and regulatory guidance.

• Risk Strategic Activities - Works with Business Risk & Controls leader and senior management to oversee risk management strategies ensuring key risks are appropriately managed and are aligned. Provides BU risk considerations for business/strategic plans. Reviews and challenges risk programs outputs, ensuring bank, framework, and regulatory alignment.
• Business Risk Management Support - Supports the execution and implementation of policies, standards, and procedures with BU associates in alignment with the Company's risk management framework. Aids the business in identifying risks & control gaps. Leads the tracking and resolution of issues across the organization, ensuring timely escalation and remediation. Collaborates with BU and stakeholders to develop and execute on action plans and mitigation strategies to address root causes & prevent recurrence. Monitors the status and effectiveness of issue remediation efforts, providing regular updates and reports to senior management. Coordinates with other functions (i.e. Compliance, 2LOD) to ensure alignment with broader risk management and governance objectives. Supports prioritization and capacity assessment, ensuring resource alignment with strategic objectives and risk management initiatives. Maintains and utilizes a deep understanding of the complexities inherent in the organization's business environment, including industry markets, products, services, client-base and competitive landscape. Interpret and operationalize 2nd line requirements for business area. Collaborate with cross-functional teams to assess the impact of external factors including regulatory changes, market disruptions or business operations and strategy.
• Regulatory and Internal Audit Engagement - Participates in regulatory and Internal Audit inquiries, examinations, and audits in collaboration with internal stakeholders. Support the business development of regulatory submissions, response and reporting requirements, driving accuracy, completeness, and timely submission. Monitor regulatory developments and findings and assess their potential impact on the organization's risk profile and regulatory compliance.
• Risk Governance & Reporting - Develops BU risk reports that provide a comprehensive view of risks impacting the BU. Monitors BU risk and control performance. Effectively manages and summarizes top and emerging risks and actions to address impacts. Reports key indicators and limits to ensure timely escalation of breaches as required by the Risk Appetite Framework (RAF). Advises BU senior leadership in relevant risk governance meetings utilizing understanding of the BU operations, risks, controls and related laws and regulatory guidance. Provides feedback and collaborates on relevant governance documents to support BU activities and manage risk. Drives the implementation of program policies, standards, and procedures. Ensures timely communication around current and emerging issues and regulatory requirements.

• Advance Degree
• Functional understanding of broker-dealer and registered investment advisor compliance
• Knowledge of risk techniques, practices, and control frameworks
• Knowledge of various banking and government regulatory requirements and processes
• Knowledge of regulatory guidance pertaining to enterprise risk and operational risk
• Ability to work effectively with associates, senior management and various committees