Associate Director - Credit Risk & Controls(2nd LOD Controls Testing) at FC Global Services India LLP (First Citizens India)

FC Global Services India LLP (First Citizens India), a part of First Citizens BancShares, Inc., a top 20 U.S. financial institution, is a global capability center (GCC) based in Bengaluru. Our India-based teams benefit from the company’s over 125-year legacy of strength and stability. First Citizens India is responsible for delivering value and managing risks for our lines of business. We are particularly proud of our strong, relationship-driven culture and our long-term approach, which are deeply ingrained in our talented workforce. This is evident across all key areas of our operations, including Technology, Enterprise Operations, Finance, Cybersecurity, Risk Management, and Credit Administration. We are seeking talented individuals to join us in our mission of providing solutions fit for our clients’ greatest ambitions.

Job Description:

Value Preposition

This role will be responsible for supporting in the execution of one or multiple of the pillars above in alignment with enterprise-wide risk program expectations. Activities shall include Risk and Control Self-Assessment Execution, Control Assurance Testing, Audit Support, Regulatory Compliance Monitoring, Issue Management and/or Risk Advisory work in support of the Credit Risk Management business units across the bank.  This role will be expected to lead interactions with key stakeholders within Credit Administration and various internal lines of defense (e.g., Business units, Compliance, Operational Risk Management, Credit Review, Enterprise Risk Management, Internal Audit/ SOX, etc.) as well as external auditors.

• Position Title - Associate Director– Credit Risk and Controls

• Career Level - L3

• Job Category- Vice President

• Job Location- Bangalore - On Site

About the Team:

Our team brings together diverse expertise in risk management, process optimization, and control systems. With a collaborative approach and commitment to excellence, we specialize in aligning enterprise risk frameworks with operational needs to deliver resilient and effective solutions for our organization. The Credit Admin –Risk and Controls Team is organized into 7 key pillars, including:

•           Process, Risk and Control Identification & Assessment

•           Self-Testing /Control Assurance

•           Enterprise Risk Alignment Activities

•           Issue Management & Resolution

•           Audit Support

•           Risk Advisory/Consulting Services

•           Regulatory Compliance

Impact

This is a key role within the banks second line of defense, Credit Administration – Creddit Risk & Controls Team. The role will oversee planning, timely execution, and delivery of testing oversight along with maintaining the quality of testing output. This will include reviewing and challenging the Design and Operating effectiveness assessment performed by control testing and evaluating its adherence to banks Controls Assurance (CA) standards.

This role will manage a team of experienced risk and control professionals dedicated primarily to oversight of second line Credit Administration control assurance testing pillar. This role may also occasionally be asked to support other pillars noted above.

The role will be responsible for building strong partnerships with both offshore and onshore stakeholders in the U.S. to ensure smooth transition of work between onshore/offshore resources. Periodic status reporting of testing work will be expected to ensure continued alignment between the interested parties.

Key Deliverables

• Assists in the development, maintenance, and execution of testing plans, including testing method, procedures, sampling approach, and budgeted hours for completion.

• Participates in walkthroughs, asks questions to obtain a detailed understanding of a process / control and identifies relevant risks, gaps and process improvements, and draft notes / take aways after meetings

• Independently executes assigned testing of design and operating effectiveness, in alignment with testing guidelines, while ensuring timeliness of the deliverables.

• Reviews working papers prepared by control owners (PBCs) to ensure all documentation is complete, relevant, appropriate and in accordance with professional standards. Obtains adequate responses to audit questions and ensures closure.

• Delivers testing workpapers that reflect accurate data, demonstrates precision in review, and meets testing objectives

• Identifies potential gaps, issues or concerns and communicates them to business owners and your manager. Takes the initiative to escalate the matters, schedule additional meetings or provide assistance, when needed.

• Support and coordinate audits across credit functions and act as liaison between business units and internal auditors.

• Own and manage audit projects from scheduling to delivery including conducting of walkthroughs, tracking audit requests, and ensure timely delivery of audit-related deliverables.

• Assist credit business units in preparing for audits and responding to auditor queries.

• Identify potential gaps in credit business processes and collaborates with control owners to design controls that are efficient and address control documentation requirements for management review controls and information provided by entities (e.g. spreadsheets reports, queries and code logic).

• Work with credit business units to draft appropriate action plans for identified issues.

• Understand audit requirements related to those issues and assist in drafting responses.

• Manage, track, and close issues, assisting in the implementation of action plans.

• The role will define roles, responsibilities, individual goals, and performance objectives for the team. The role will also involve identifying future talent and skill requirements in collaboration with onshore stakeholders.

Specific Responsibilities-

• Ensure Review and challenge of assigned control tests is completed on time and with good quality, as per plan.

• Ensure review and challenge is performed as per standards, procedures and documented in prescribed templates and formats.

• Report and escalate any delays in completing assigned work to the Credit Admin – BRC Leader in US.

• Provide regular status a updates and reports to the leadership in US.

• Provide clear definition of roles, responsibilities, individual goals, and performance objectives for the team.

• Provide regular, constructive feedback to maximize positive impact of individual team member’s talent.

• Provide training to team members on a regular basis to ensure their knowledge of the process up to date.

Essential Functions

• Ensure Control Assurance (CA) testing work is planned and executed in a timely manner

• Ensure appropriate resource allocation across the various activities required to support CA testing.

• Ensure quality execution of the oversight testing activity, including evaluating adherence to the CA standards and their effectiveness to identify and highlight key weaknesses.

• Perform CA testing to support delivery of overall team objective, as needed.

• Contribute to hiring and talent management strategy and policies for SVB India.

• Develop, maintain, and provide regular status reporting to the Credit Admin - BRC leaders in US.

• Perform other duties assigned by the management, as the role evolves in the future. 

Skills and Qualification (Functional and Technical Skills)

The person in this role should have strong risk management expertise, exceptional written and oral communication skills, strong understanding of banking business processes, stakeholder management skills and the ability to manage multiple projects and deadlines at once.

The person in this role should have a good knowledge of operational and compliance risks in a bank and a broad understanding of the control environment mitigating those risks. This will require broad knowledge of consumer and commercial banking products and services, as well as applicable laws and regulations.

Experience in performing controls testing in a bank or large financial institutions is required. Exposure to performing review and challenge activities as part of second line risk management will be an added advantage.

Functional Skills:

• Strong Stakeholder Management: Ability to build strong relationships and work effectively across different business units and audit teams.

• Excellent Communication: Skilled in translating complex risk / audit requirements into clear, actionable guidance for business teams.

• Risk & Control Awareness: Deep understanding of risk management principles, control frameworks and the credit business process lifecycle.

• Problem Solving: Ability to quickly assess gaps, understand root causes, and collaborate on remediation strategies.

• Attention to Detail: Ensuring documentation, controls, and responses are thorough, accurate, and audit compliant.

Technical/Business Skills:

• Risk and control frameworks as it applies to global banks

• Operational and Compliance risks as it relates to banking

• Key control testing processes and practices

• Second line review and challenge activities in banking

• Working knowledge of MS tools such as word, Excel and PPT

• Bachelor's degree or higher in the field of accounting or finance, operations

• Banking and/ or financial services industry experience (10 to 15 years)

• Experience in performing control testing including planning, scoping, process walkthroughs, design    and operating effectiveness testing, issue discussion and report writing.

• Managing risk and control team in banking or large financial institutions.

• CPA, CIA, CISA, CRCM, ACAMS (one or more of these will be an added advantage)

Relationships & Collaboration

• Reports to: Director – Credit Admin - Risk & Controls Team

• Partners: Credit Risk Associates and cross-functional teams

Accessibility Needs

We are committed to providing an inclusive and accessible hiring process. If you require accommodations at any stage (e.g. application, interviews, onboarding) please let us know, and we will work with you to ensure a seamless experience.

Equal Employment Opportunity

FC Global Services India LLP (First Citizens India) is an Equal Employment Opportunity Employer. We are committed to fostering an inclusive and accessible environment and prohibit all forms of discrimination on the basis of gender, religion, caste, disability, sexual orientation, economic status or any other characteristics protected by the law. We strive to foster a safe and respectful environment in which all individuals are treated with respect and dignity. Our EEO policy ensures fairness throughout the employee life cycle.