Compliance and Operational Risk Senior Advisor (Hybrid - Chicago, IL)

*** Work Arrangement/Location: This is a hybrid position requiring in-office work four days a week and will be based in Chicago, IL.

Overview:

The Compliance and Operational Risk Senior Advisor in the Compliance Risk Management (“CRM”) organization will take on a key leadership role in identifying, assessing, and mitigating risk (including but not limited to operational and regulatory risks). This Senior Vice President level role will lead complex compliance and operational risk management activities and provide guidance for an assigned area of responsibility within the Institutional Services department of Wilmington Trust. This role will work with senior business line leadership to implement and execute the compliance and operational risk strategy and advise on prioritization of compliance and operational risks. The role delivers on the Enterprise Risk Management Framework, including identification, assessment, quantification, documentation, escalation, reporting, and communication of unmitigated risks to senior management and governance bodies, as appropriate.

Primary Responsibilities:

• Consult with senior managers of business units on complex compliance and operational risk matters.
• May assist in oversight of state, federal, domestic and possibly international regulator relationships and examinations including the Federal Reserve, OCC, SEC, DOL, FINRA, CFPB, State of New York, and/or the State of Delaware, as applicable.
• Evaluate the effectiveness of existing processes, risks, and controls and provide recommendations that most effectively anticipate, manage, and reduce risk to the business.
• Develop and communicate recommendations that support adherence to regulations, industry best practices and/or the CRM program.
• Maintain subject matter expertise and understanding of the laws, rules and regulations with which the business and/or CRM must comply and an awareness of issues of recent regulatory focus.
• Develop and/or deliver training to support employees in fulfilling their compliance responsibilities.
• Escalate and measure compliance risk issues to leadership and the lines of business, as well as the 1st and 2nd Lines of Defense, as necessary.
• Liaise with CRM departments as appropriate in the execution of CRM program components.
• Assist in Risk Assessment to identify compliance risk exposure and help the organization prioritize compliance risks.
• Assess compliance issues presented through complex new/revised product and service offerings and work closely with senior leaders of business units to plan a response.
• Work with senior leaders of business units and/or CRM to design a plan for timely and effective resolution of complex issues identified through monitoring and testing.
• May interact with State and Federal Regulatory Agencies, numerous risk and executive management, lines of business, and support organizations such as Internal Audit and Legal on an ongoing and regular basis to ensure the enterprise is operating within the Board-mandated compliance risk tolerance.
• Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
• Promote an environment that supports belonging and reflects the M&T Bank brand.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
• Complete other related duties as assigned.
• Independently evaluate management of key processes for the effective and efficient mitigation of operational risk; identify gaps or deficiencies in the risk management framework; ensure remediation plans address the risk; and confirm residual risk is appropriately defined.
• Prepare and support detailed risk reports and presentations for senior and executive audiences regarding the operational risk environment of supported businesses or functions.
• Actively participate in designated risk committees and governance forums, serving as the second line of defense representative and ensuring escalation of significant or unresolved operational risk matters.
• Apply a risk-based approach to assess impact and likelihood, discern and document root cause, and support the use of risk/event data and simple quantification methods to enhance risk reporting.
• Work with the business to evaluate new products, services, or changes to existing offerings to ensure key operational risks are identified, mitigated, and appropriately governed.

Specific to Posting:

• Provide 2nd Line of Defense coverage to Wilmington Trust Institutional Services – Corporate Trust & Agency Services and related Operations departments for Structured Finance and Loan Market Solutions: Capital Markets Structured Finance Asset-Backed Securities, Mortgage-Backed Securities (ABS, MBS), Collateralized Loan Obligations (CLO), Loan Agency, Equipment Finance, Corporate Debt.
• Supports the 2nd Line of Defense Fiduciary Risk Oversight program through execution of the CRM Program and related initiatives: Requirements & Standards Documentation, Compliance Monitoring Activities, Compliance Control Management, Compliance Risk Assessment (CRA), Participation in Governance Committees, Forums, and Working Groups, Targeted Risk Assessments, Training Initiatives, Regulatory Exam Management support
• Expertise in one or more of the following: Risk and Control Self-Assessments (RCSA), Trust Indenture Act (TIA), FDIC Account Administration - Corporate Trust Accounts, Securities Exchange Act of 1934 – Transfer Agent Rules, Regulation AB, Regulation 9 (12 CFR 9, Reg 9), Regulation R
• Operational Risk Governance: Oversight of identification, assessment, monitoring, mitigation, and reporting of operational risks in accordance with enterprise risk appetite and framework requirements
• Operational Risk Testing and Monitoring: Integration of high-risk scenarios into first line testing and independent review of testing results
• Operational Risk Reporting and Measurement: Use of risk indicators, event data, and qualitative assessments to inform management and governance reporting

Scope of Responsibilities:

• The Compliance and Operational Risk Senior Advisor works under general supervision of the Head of Compliance and Operational Risk for Institutional Services – US and exercises a high level of judgment and discretion to resolve problem situations independently.
• Effective communication and collaboration with Senior Leadership and M&T Bank Executive Management is expected in the role.
• The Compliance and Operational Risk Senior Advisor must understand when situations warrant escalation to the M&T Bank Chief Compliance Officer, Legal, or when other consultation is needed.
• The Compliance and Operational Risk Senior Advisor position is essential to ensuring compliance. Failure to adhere to regulations could result in significant long-term negative impact due to severe penalties from regulators and to legal and reputational risk.
• This position must maintain positive working relationships with CRM staff, business line owners, as well as maintaining significant contact with 2nd Line Risk Management, Legal, Audit, and other M&T subsidiaries and departments. The Compliance and Operational Risk Senior Advisor also interacts with external contacts, including regulators/examiners, vendors, and peer companies.
• Serve as a trusted advisor and liaison to business leadership on operational risk matters, maintaining strong partnerships across first and second line risk functions.
• Support the evolution of the risk management environment by proactively identifying emerging operational risks and influencing cost-effective risk management solutions.

Education and Experience Required:

• A combined minimum of 12 years’ higher education and/or work experience, including 8 years’ experience in compliance, legal, audit, risk or other relevant function.
• Proficient computer skills (including spreadsheet and word processing software).
• Strong analytical skills.
• Working knowledge of applicable laws.
• Strong written and verbal communication skills.
• Experience in operational risk management activities, including risk assessments, issue management, governance reporting, and framework adherence.

Education and Experience Preferred:

• Juris Doctor or Master’s degree preferred;
• Thorough knowledge of operations, systems, and practices within subject matter business units
• Knowledge of bank-wide policies and procedures in responsible area
• Experience supporting or presenting to risk committees and senior governance forums.
• Familiarity with enterprise risk management frameworks, risk quantification concepts, and risk governance practices.

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $118,200.00 - $197,000.00 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.

LocationChicago, Illinois, United States of America