BRCO Specialist Lead - Wealth Management

BRCO Issue Management Lead

The Business Risk and Control Officers (BRCOs) play a pivotal role in guiding the business to identify and understand risk exposures and the controls needed, which are integral to reducing risk and safeguarding our customers and colleagues. BRCOs are critical to the success of the Risk Management Lifecycle and play a role in Planning, Identifying, Assessing, Mitigating, Monitoring, and Reporting. BRCOs are members of the First Line of Defense (1

LOD) who:

• Provide leadership and coaching to the 1
  
  LOD to proactively identify and effectively manage risks.
• Translate and educate 1
  
  LOD to enable and drive business-relevant implementation of Second Line of Defense (2
  
  LOD) risk management frameworks, policies, taxonomies, and inventories.
• Review, validate, and test 1
  
  LOD activities to ensure adequate control design and effective control operation.
• Provide credible challenge to 1
  
  LOD colleagues, ensuring safeguard and risk mitigation measures are upheld in decision making and adherence to 2
  
  LOD frameworks and policies prior to 2
  
  LOD review.
• Drive two-way collaboration across 1
  
  LOD and 2
  
  LOD; liaise between them to drive engagement throughout the risk management lifecycle.
• Collaborate and coordinate across the organization to help navigate and mitigate horizontal risk, promoting resilience and ensuring safety and soundness.
• Document, aggregate, and report risk in accordance with the risk management lifecycle.

The BRCO Issue Management Lead for the Line of Business is responsible for ensuring 1

LOD adherence and alignment to the Issues Management policy. This role owns the first line execution of issues management strategy and may include loss management responsibilities, including strategies and practices to minimize financial losses. Responsibilities include identifying potential risks and monitoring until resolution.

Position Responsibilities:

• Provides oversight and drives timely resolution of issues identified by self, second line, audit, or regulators.
• Advises 1
  
  LOD colleagues to develop and implement action plans, ensuring timely closure of issues, and that remediation milestones are achieved, tested, and validated.
• Offers insights and recommendations on issue management metrics and emerging themes.
• Provides leadership and coaching to 1
  
  LOD to proactively identify and manage risks.
• Translates and educates 1
  
  LOD on risk management frameworks, policies, taxonomies, and inventories.
• Reviews, validates, and tests 1
  
  LOD activities for control adequacy and effectiveness.
• Provides credible challenge to 1
  
  LOD colleagues, ensuring adherence to frameworks and policies.
• Facilitates collaboration across 1
  
  LOD and 2
  
  LOD to promote engagement in risk management.
• Coordinates organization-wide efforts to navigate and mitigate horizontal risks, promoting resilience and safety.
• Documents, aggregates, and reports risks according to lifecycle requirements.
• May include responsibilities related to loss management to minimize financial losses.

Knowledge and Skills:

• Demonstrated knowledge of banking products, services, workflows, and controls.
• Proven track record in issue resolution within financial services.
• Expertise in risk management, controls, and compliance frameworks and policies.
• Ability to influence stakeholders and challenge effectively at all levels.
• Strong relationship-building and communication skills, capable of explaining complex issues clearly.
• Judgment and escalation skills.
• Leadership qualities, managerial courage, and adaptability to change.
• Data analysis skills, with the ability to interpret large datasets.
• Excellent analytical, critical thinking, and organizational skills.
• Ability to manage multiple priorities in a dynamic environment.
• Self-motivated, independent, flexible, and capable of navigating complex organizational structures.