Senior DFAST Risk Officer
|Memphis, Tennessee - United States
$140,000.00 - $205,000.00 - US Dollars - Yearly
WHY IS THIS A GREAT OPPORTUNITY?
The Senior DFAST Risk Officer reports to the Enterprise Risk Management Executive Director and backs the global quality of risk management across the client bank by supporting the ERM Executive Director in managing the bank’s Dodd Frank Act Stress Testing agenda. Is a representative of the DFAST Program, and is influential in thoughtful in educating participants regarding DFAST Agenda necessities and projected levels of management participation to ensure the Agenda’s success. The role requires robust communication skills necessary to communicate process, challenge management assumptions, and communicate modeled results as well as the results of supporting DFAST Agenda Analyses. The Senior DFAST Risk Officer will create an expected order of operations within the DFAST Agenda and progress and implement the controls necessary to support the DFAST Agenda objectives to mitigate risks posed to realizing those objectives. The role is required to coordinate with consultants, senior and executive managers, model validators, internal and external auditors, and regulators to achieve workflow, challenge and communicate outcomes.
- Cooperating with colleagues and managers within Risk to facilitate the exchange of risk and control data around the business units within their area of responsibility
- Learning requirements of Dodd Frank Act Stress Testing in necessary depth to become a subject matter expert (SME) accomplished in managing certain components of the DFAST Agenda operations workflow and to able to educate DFAST Agenda participants as to their responsibilities within the annual DFAST cycle.
- Producing and updating intelligences and presentations to management and the board of directors, including DFAST development status updates, related risk assessments and gap analyses, and the status of key DFAST cycle deliverables.
- Establishing and managing stakeholders to a calendar of events outlining DFAST Agenda operations workflow that culminates with a successful submission of data, results, and conclusions with the Federal Reserve.
- Partnering with the CRO to establish standing meeting agendas in support of the Enterprise Stress Testing Advisory Board as well as meetings that support discrete components of the DFAST Agenda such as establishing peer or panel bank analyses, portfolio credit loss modeling, allowance modeling, econometric modeling, interest rate and balance modeling, operational loss modeling, and pre-provision net revenue aggregation modeling as examples.
- Designing, developing and conducting test uploads to the Federal Reserve DFAST portal to work through any preliminary system flaws and to confirm the bank’s understanding of how to implement in agreement with regulatory expectations.
- Drafting documents, exhibits, analyses, and flowcharts in backing of the DFAST agenda, governance, and executable processes of such detail and quality to be regarded as sufficient competent evidential matter by auditors and regulatory examiners in support of DFAST operations, decision making, approvals, and challenge sessions are executed.
- Executing and sustaining a DFAST issues log planned to capture risks and control insufficiencies that may impact the acceptable execution of the DFAST and cause participants owning the risk or control deficiency to pursue appropriate risk response or remediation strategies prior to the filing of the bank’s submission to the Federal Reserve.
- Continuing dynamic dialogue with the Federal Reserve analyst allocated to the client bank for filing the Client bank’s DFAST submission, and designing workflow and controls around the final modeled results and narrative that will ensure accurate and complete data are uploaded to the Federal Reserve’s DFAST portal and proper version control is maintained on models and the narrative itself.
- Participating or leading meetings to communicate purpose, outline expectations, convey modeled outcomes, discuss and challenge modeled outcomes, items requiring additional follow up, and fully documenting meeting minutes evidencing meeting events for review and approval of those needed.
1. 8 or more years of experience in a financial services environment with specialization in finance, credit, quantitative risk management, management information systems.
2. Knowledge of participating in complex projects requiring dedicated, focused efforts.
3. Understanding in preparing deliverables for management committees, senior leaders, and business unit managers.
4. Holistic knowledge regarding enterprise risk management frameworks and programs.
5. Knowledgeable in devising data strategies and implementing enterprise policy and supporting data management agenda.
University - Bachelor's Degree/3-4 Year Degree