Risk Management & Testing Officer

at  1st Colonial Community Bank

This position is comprised of three main areas of responsibility. The first is to perform transaction testing for compliance with applicable laws and regulations. The second is to maintain and execute the third party risk management program of the Bank. The third is to perform other enterprise risk management duties as assigned.

MINIMUM EXPERIENCE:

• 5 years of financial institution experience in one or more areas of risk management including compliance, BSA, fraud, audit, and/or Audit (preferably multiple). Comparable experience may be eligible.
• Minimum 5 years of banking experience.
• Experience with third-party risk management.
• Experience partnering with management at various levels.

EDUCATION

• Bachelor’s degree (preferred)

WORKING CONDITIONS/PHYSICAL REQUIREMENTS

While performing the duties of this job, the employee is regularly required to sit; use hands, use fingers, talk, hear, and remain in a stationary position for extended periods of time. The employee is required to stand; walk; reach with hands and arms. The employee must have the ability to communicate with staff and customers verbally effectively. The employee must occasionally lift and/or move up to 20 pounds. Specific vision abilities required by this job include close vision, color vision, distance vision, peripheral vision, depth perception and ability to adjust focus. The employee must have the ability to always stay alert and attentive and operate a computer, phone and essential equipment as required. The noise level in the work environment is usually moderate.

ABOUT US:

1st Colonial Community Bank (the Bank) was established in June of 2000. The Bank is a full-service community bank with retail branches in Collingswood and Westville, NJ and Limerick, PA. The Bank’s executive offices and residential mortgage operations are in Mount Laurel, NJ. The Bank offers a wide range of consumer and business banking products and services to customers in South Jersey.

ESSENTIAL DUTIES AND RESPONSIBILITIES:

• Collaborate with Compliance Officer in the development of the annual compliance risk assessment.
• Develop a risk based annual transaction testing schedule.
• Perform transaction testing in accordance with the approved testing schedule including the production of reports, detailing findings, recommendations, and internal stakeholder responses.
• Follow up on internal stakeholder responses to ensure timely completion and validate satisfactory completion.
• Conduct ad hoc reviews as may be required.
• Conduct testing on new products and services within a reasonable time of execution.
• Track identified issues (audits, exams, reports) and generate reporting.
• Develop dashboards, reports, and other documents as may be appropriate.
• Other duties reasonably associated with the execution of transaction testing.
• Conduct and coordinate due diligence for new vendors.
• Conduct ongoing due diligence efforts for existing vendors.
• Maintain and enhance the third-party risk management program consistent with the size and complexity of the Bank and its third-party relationships.
• Other duties reasonably associated with the management of third-party risk.
• Assist the Managing Director of Risk with various initiatives and regular requirements of the enterprise risk management program including the assessment of risk, preparation of dashboards and reports, control reviews, and risk advisory duties.
• Monitor external environment, industry trends, and practices to make appropriate recommendations to the Managing Director of Risk.
• Develop an understanding of and contribute to business strategies and related policies, processes, and controls based upon established risk appetite.
• Develop strong partnership with internal clients providing effective and credible challenges in the assessment and mitigation of risks as identified proactively or through the transaction testing process.
• Provide sound advice and assistance in helping to support the Bank’s business objectives by acting as an internal advisor regarding risk management matters.
• Other duties as assigned.

DISCLAIMER: THIS INFORMATION DESCRIBES THE GENERAL NATURE AND LEVEL OF WORK PERFORMED BY EMPLOYEES IN THIS JOB. THE DESCRIPTION IS NOT DESIGNED TO BE A COMPREHENSIVE INVENTORY OF ALL DUTIES, RESPONSIBILITIES, AND QUALIFICATIONS REQUIRED OF EMPLOYEES IN THIS JOB. REASONABLE ACCOMMODATION MAY BE MADE TO QUALIFIED DISABLED INDIVIDUALS FOR THE PERFORMANCE OF ESSENTIAL DUTIES AND RESPONSIBILITIES.

This job description is not an employment agreement or contract, implied or otherwise. 1st Colonial Community Bank maintains “at will” employment.