Business Risk Officer

General Description

•    This position supports the issues management-related processes within the Retail & Business Solutions Group. This role will support in the identification, assessment, and management of issues that could affect operational, compliance, reputational, or strategic risks—particularly within different business line processes and controls.
•    Enhance and execute first-line capabilities through risk identification and measurement activities.
•    Provide internal audit, second line review and exam support on behalf of all divisions within the Retail and Business Solutions Group.
•    Monitor compliance with applicable federal, state, and local laws and regulations, as well as corporate policies, procedures, and programs.
•    Support requires changes in controls, processes and procedures due to new or enhanced regulations, laws or guidance.
•    Monitor Exam, Internal Audit and second-line recommendations or findings, assist in implementing corrective actions, and ensure timely resolution.
•    Provide support on first-line training programs targeting risks and controls topics.

Essential Duties & Responsibilities

Issue Identification & Risk Assessment:

• Proactively identify operational, regulatory, and control issues within business units and supporting functions.
• Conduct thorough risk assessments to determine and understand the impact and severity of identified issues.
• Proactively gather, analyze, and discuss information and data statistics with the supervisor to address timely matters that require attention.
• Support efforts to drive root cause analysis, remediation planning, and risk reporting, ensuring timely closure of identified issues.
• Perform or facilitate root cause analyses to uncover systemic issues and underlying process/control failures.
• Track open issues and corrective action plans to ensure timely remediation.
• Validate closure packages and support documentation to confirm sustainable resolution.
• Maintain governance around issue lifecycle activities in accordance with internal policies.
• Collaborate with business owners, control partners and second line of defense to define corrective actions.

Complaint or Claim Support:

• Support in analyzing compliant issues or topics escalated for investigation and guidance.
• Coordinates, investigates, and responds to customer claims from regulatory agencies within established deadlines (CFPB, FRB & OCIF among others). Investigate and provide required documentation and draft responses.
• Provide support to CRC in adequate management and response of claims.
• Ensure that prompt action is taken to address any identified deficiencies to comply with the applicable policies, procedures, and regulatory requirements. 

Internal Audit, Second Line and Exam Support:

• Support internal and external audit/regulatory exams or second line review requests, monitor recommendations or findings and ensure timely resolution, and assist in the documentation and responses.
• Assist in the implementation of corrective actions in response to Internal Audit, Second Line Reviews and Examination recommendations or findings.

Regulatory Changes and Controls Processes:

• Provide guidance and support in implementing changes in controls, processes and procedures due to new or enhanced regulations, laws or guidance.
• Ensure all processes and procedures comply with policies and regulations by partnering with all divisions within the Retail and Business Solutions Group.
• Support in the implementation of Control Frameworks (e.g., Risk Control Policy, Control Standard, Issue Management Policy, Lesson Learned Policy, and Control Inventory).
• Identify, assess, record, and respond to Compliance Risk events, ensuring accurate and timely capture per requirements.
• Apply identified rules, regulations, and laws to assist in designing and implementing proper controls.
• Identify risks and emerging trends through analysis of assessment results, key risk indicators, and risk event data.

Training Support and Liaison with Second Line:

• Provide support on first-line training programs targeting risks and controls topics.
• Serve as liaison between the Business Risk and Controls Division and the Second Line on a range of compliance-related topics. 

 

Education

Bachelor’s degree in business administration, finance or related field.

Master's degree or Juris Doctor (JD) with knowledge of banking regulations and regulatory compliance is strongly preferred.

 

 

 

Experience

•    5+ years of experience in operational risk, business controls, compliance, or legal —preferably within the banking or financial services sector.
•    5+ years of experience with credit cards, deposit, reserve line of credit, personal loans and/or commercial products. 
•    Understanding of internal control frameworks and regulatory expectations (e.g. FDIC, CFPB, OCIF).

Other Qualifications

•    Understanding of banking regulatory requirements.
•    Must have excellent written and oral communication (in both Spanish and English) and interpersonal skills to manage the expectations of senior business stakeholders and support units.
•    Must perform in a high-energy, fast-paced environment with tight deadlines.
•    Must have strong analytical and critical thinking, as well as problem-solving skills, including the ability to analyze risk mitigation approaches.
•    Must have the ability to collaborate effectively as part of a wider team.
•    Must have the ability to guide others, be process driven, and have high attention to detail.
•    Ability to manage high volume of tasks and deadlines and to deliver results under pressure.
•    Must have the ability to influence others, be process driven, and have high attention to detail.
•    Proficient in Microsoft Office applications.
•    Ability to communicate complex ideas effectively at all levels of management, with excellent verbal, written and presentation skills.
•    Results oriented with sound decision-making ability. 

Values

• 1. Passion for People
• 2. Own Every Moment
• 3. Succeed Together
• 4. Build the Future

Important: The candidate must provide evidence of academic preparation or courses related to the job posting, if necessary.

Our hybrid work model benefit applies to certain positions and is subject to changes based on the organizational needs.

Applicants must be authorized to work for any employer in the United States.  This position is not open to applicants who need visa sponsorship or transfer of visa sponsorship at this time.

ABOUT US

Popular is Puerto Rico’s leading financial institution and have been evolving since it was founded over a century ago. From a small bank it has developed into a large corporation that offer a wide variety of services and financial solutions to our customers, with presence in the United States, the Caribbean and Latin America.

As employees, we are dedicated to making our customers dreams come true by offering financial solutions in each stage of their life. Our extensive trajectory demonstrates the resiliency and determination of our employees to innovate, reach for the right solutions and strongly support the communities we serve; therefore, we value their diverse skills, experiences and backgrounds.

We reaffirm our commitment to always offer essential financial services and solutions for our customers and communities, including during emergency situations and/or natural disasters. Popular’s employees are considered essential workers, whose role is critical in the continuity of these important services even under such circumstances. By applying to this position, you acknowledge that Popular may require your services during and immediately after any such events.

If you have a disability or need more information about requesting an accommodation, please contact us at asesorialaboral@popular.com. This email inbox is monitored for such types of requests only. All information you provide will be kept confidential and will be used only to the extent required to provide needed exemptions or reasonable accommodations. Any other correspondence will not receive a response.

 

Are you ready for a rewarding career?

 

Popular is an Equal Opportunity Employer, including Disability/Vets
Learn more about us at www.popular.com and keep updated with our latest job postings at www.jobs.popular.com.
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