Senior Managing Director, Lead Controls Officer & Quality Assurance (2024)

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

Position Summary

The Senior Managing Director, Lead Controls Officer & Quality Assurance will play a critical leadership role in overseeing and strengthening the bank’s control environment. This individual will be responsible for managing and enhancing quality assurance processes and frameworks, building out an enterprise-wide control inventory, designing and enhancing the risk and control self-assessment program, and ensuring compliance with internal policies, regulatory requirements, and industry best practices. The ideal candidate will bring significant expertise in operational risk management, internal controls, and quality assurance within the banking sector. This individual will also be involved with strategic and transformational initiatives and the delivery of critical, large-scale, complex, high-visibility, regulatory remediation programs.

Key Responsibilities

  • Leadership & Strategy: Develop and lead the overall strategy for the control and quality assurance functions within the bank, aligning with the vision and objectives set by the Chief Controls Officer.
  • Controls Oversight: Oversee the design, implementation, and maintenance of an effective internal control framework across all lines of business. Ensure that the framework mitigates risks and enhances the bank’s operational resilience.
  • Quality Assurance Program: Develop, implement, and maintain a robust quality assurance (QA) program that assesses the effectiveness of controls and adherence to regulatory requirements. Ensure QA findings are documented, communicated, and integrated into continuous improvement plans.
  • RSCA Program Management: Lead the execution and documentation of RSCA processes across all Front Line Units (FLUs) to ensure it aligns with regulatory requirements and industry best practices.
  • Risk Assessment: Coordinate and facilitate risk assessment workshops and activities to identify potential risks and control gaps. Analyze risk data to assess the likelihood and impact of risks on the bank’s operations.
  • Control Design: Collaborate with Front Line Units (FLUs) to design and implement effective controls to mitigate identified risks, providing recommendations for improvement where necessary.
  • Reporting & Communication: Prepare comprehensive reports for senior management, regulatory bodies, and board committees detailing control effectiveness, quality assurance outcomes, and action plans for identified gaps.
  • Stakeholder Engagement: Work closely with first and second lines of defense to ensure that risk management practices are embedded within business processes. Act as the main point of contact for internal and external stakeholders regarding RSCA matters.
  • Training & Awareness: Lead training sessions and workshops to enhance awareness and understanding of RSCA processes among staff and foster a proactive risk culture.
  • Continuous Improvement: Evaluate and improve the RSCA methodology to adapt to changes in the regulatory environment, business operations, and emerging risks.
  • Policy & Procedure Development: Contribute to the development and update of policies and procedures related to the RSCA framework.
  • Audit & Regulatory Coordination: Support internal audits and regulatory reviews related to risk assessments and controls. Ensure that RSCA documentation and evidence are prepared and available for audit and examination purposes.
  • Risk Management: Collaborate with senior leadership and department heads to identify and evaluate key risks, implement risk control measures, and monitor risk mitigation efforts.
  • Compliance Assurance: Ensure adherence to applicable regulations and banking standards, partnering closely with Compliance, Internal Audit, and other control functions.

Requirements

  • Education:
    • Bachelor’s degree in Finance, Business Administration, Risk Management, or a related field.
    • Advanced degree preferred.
  • Experience:
    • Minimum of 15 years of experience in risk management, operational risk, or internal audit within the banking or financial services industry.
    • Substantial experience in leading RSCA or similar risk assessment programs.
    • At least 5 years in a senior leadership role.
  • Knowledge:
    • Deep understanding of banking regulations, risk management frameworks, internal control standards, and QA best practices.
    • Strong understanding of operational risk management techniques and control assessment methodologies.
    • In-depth knowledge of OCC Heightened Standards and Regulatory Category IV banking requirements preferred.
  • Skills:
    • Excellent leadership and project management skills.
    • Strong analytical, problem-solving, and decision-making skills.
    • Excellent verbal and written communication abilities, with the capacity to present complex information clearly.
    • Ability to influence senior stakeholders and build effective working relationships across business units and lines of defense.
    • Strategic thinker with attention to detail and operational acumen.
    • Strong commitment to quality and continuous improvement.
    • Proficiency in risk management software and data analysis tools.

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The estimated salary range for this position is $175,000 to $225,000. Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.

Senior Managing Director, Lead Controls Officer & Quality Assurance (2024)
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