Job Description:
Role Summary/Purpose:
The SVP, Operational Risk Management (ORM) and Model Risk Management (MRM) will be responsible for overseeing and enhancing our operational risk management and MRM programs at Synchrony. This role plays a key part in identifying, assessing, and mitigating operational and model risk across the organization, ensuring compliance with regulatory requirements and industry best practices. Key functional responsibilities of the role are related to Data Governance, Operational Risk Oversight and Model Risk Management.
We're proud to offer you choice and flexibility. At Synchrony, our way of working allows you to have the option to work from home, near one of our Hubs or come into one of our offices. Occasionally you may be required to commute to our nearest office for in person engagement activities such as business or team meetings, training and culture events.
Essential Responsibilities:
Provide strategic direction and leadership for Model Risk Management, Data Governance and Operational Risk Oversight including identifying, measuring, controlling and monitoring, and providing early warning of risks associated with these areas.
Lead various ORM initiatives and continue to evaluate ORM programs, tools and processes. Drive stronger operational risk management capabilities across the business and remain compliant with OCC's Heightened Standards
Maintain "Satisfactory" rating in regulatory annual assessment for ORM
Provide strategic thought leadership regarding the MRM Framework including developments in AI/ML space
Continue to enhance and implement a comprehensive ORM and MRM program and strategy aligned with organizational goals
Provide independent challenge and oversight of ORM and MRM activities to the first line of defense and drive continuous identification and remediation of risks with quantifiable metrics
Chair Operational Risk Subcommittee and Technology Risk Subcommittee of ERMC
Prepare and present relevant reports on ORM and MRM performance to executive leadership and other relevant committees including the Board
Own the Risk Control Self-Assessment (RCSA) policy, standard and overall framework. Provide effective RCSA challenge to the first line of defense
Partner with the Enterprise Risk Management Leader to develop and maintain relevant ORM and MRM Risk Appetite metrics
Continue to partner with Risk pillars to execute comprehensive and effective ORM oversight program in functional areas covered by other pillars
Conduct regular ORM and MRM risk assessments to identify potential vulnerabilities and areas of improvement
Oversee implementation of risk mitigation plans to address identified operational risks or control weaknesses
Collaborate with key stakeholders across the business to assess and enhance operational controls and processes
Maintain a deep understanding of industry trends, regulatory changes, and emerging risks affecting the organization
Work closely with internal stakeholders and external partners to ensure effective communication and collaboration on operational risk-related matters
Drive continuous improvement initiatives to optimize ORM and MRM tools and processes
Provide ongoing communication and define required operational and model risk training to enhance and maintain stronger risk culture
Perform other duties and/or special projects as assigned.
Qualifications/Requirements:
Bachelor's degree and 12+ years of experience in second line risk management and/or first line governance
5+ years of experience in financial services or banking industry in risk management
5+ years of experience leading a team of professionals
5+ years of experience operating at a strategic level as part of a senior leadership team interacting with senior executives
Strong understanding of operational and model risk frameworks and methodologies
Proven ability to provide effective challenge at all levels of an organization
Knowledge of relevant regulatory requirements and industry guidelines
Experience engaging directly with external regulators
Strong leadership experience with ability to drive culture, balance risk and reward and lead by example
Desired Characteristics:
Model Risk Management experience
Strong understanding of Information Technology and Information Security risks
Analytical and problem-solving skills with the ability to make strategic decisions
Ability to communicate complex risk issues to cross-functional stakeholders at all levels
Experience creating and leading organizational change
Ability to influence in a matrix environment
Experience working on large scale, cross functional, complex project management initiatives in a lead role with a proven ability to meet milestones and target dates
Grade/Level: 17
The salary range for this position is 240,000 - 410,000 USD Annual. This position is also eligible for an Annual Incentive Plan target of 40% of salary and an Annual Equity target of 40% of salary.
Actual compensation offered within the posted salary range will be based upon work experience, skill level or knowledge.
Salaries are adjusted according to market in CA, NY Metro and Seattle.
Eligibility Requirements:
You must be 18 years or older
You must have a high school diploma or equivalent
You must be willing to take a drug test, submit to a background investigation and submit fingerprints as part of the onboarding process
You must be able to satisfy the requirements of Section 19 of the Federal Deposit Insurance Act.
New hires (Level 4-7) must have 9 months of continuous service with the company before they are eligible to post on other roles. Once this new hire time in position requirement is met, the associate will have a minimum 6 months' time in position before they can post for future non-exempt roles. Employees, level 8 or greater, must have at least 18 months' time in position before they can post. All internal employees must consistently meet performance expectations and have approval from your manager to post (or the approval of your manager and HR if you don't meet the time in position or performance expectations).
Legal authorization to work in the U.S. is required. We will not sponsor individuals for employment visas, now or in the future, for this job opening. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Our Commitment:
When you join us, you'll be part of a diverse, inclusive culture where your skills, experience, and voice are not only heard-but valued. We celebrate the differences in all of us and believe that our individual, unique perspectives is what makes Synchrony truly a great place to work. Together, we're building a future where we can all belong, connect and turn ideals into action. Through the power of our 8 Diversity Networks+ (https://www.synchronycareers.com/our-culture/#diversity) , with more than 60% of our workforce engaged, you'll find community to connect with an opportunity to go beyond your passions.
This starts when you choose to apply for a role at Synchrony. We ensure all qualified applicants will receive consideration for employment without regard to age, race, color, religion, gender, sexual orientation, gender identity, national origin, disability, or veteran status.
Reasonable Accommodation Notice:
Federal law requires employers to provide reasonable accommodation to qualified individuals with disabilities. Please tell us if you require a reasonable accommodation to apply for a job or to perform your job. Examples of reasonable accommodation include making a change to the application process or work procedures, providing documents in an alternate format, using a sign language interpreter, or using specialized equipment.
If you need special accommodations, please call our Career Support Line so that we can discuss your specific situation. We can be reached at 1-866-301-5627. Representatives are available from 8am - 5pm Monday to Friday, Central Standard Time
Job Family Group:
Risk Management