Openings

General Accountabilities

The Risk Analyst (RA) is primarily responsible for the execution of assigned tasks in all aspects of the Bank's Enterprise Risk Management Program, which includes providing a broad range of risk and data analysis, reporting and support to multiple stakeholders to assist with the effective identification, measurement, mitigation and monitoring of the Bank's inherent risks. Accordingly, the RA:

1. Assists with the evaluation of the effectiveness of the Bank's risk management controls and governance processes.
2. Contributes to the development of a robust risk management control environment, appropriate policies and procedures and enhanced technology platforms. 
3. Works closely with Risk Owners and Risk Champions on management of assigned risks and completion of risk reporting. 
4. Applies analytical thinking and knowledge of data analysis tools, risk modeling and risk methodologies to assist with the monitoring and reporting of the Bank's inherent risks. 
5. Applies professional judgement when interpreting data and results, and communicates information in a clear, professional manner. 
6. Maintains a high standard of professionalism and confidentiality. 
7. Remains knowledgeable of Bahamian laws, banking regulations and guidelines, best practices and Bank policy and procedures. 

Essential Duties and Responsibilities

• Assist with the assessment, evaluation and mitigation of risks via risk-based testing, analytics, and predictive modeling, to sufficiently support mitigating action and limit Bank exposures. 
• Serves as a direct liaison for efficient and effective cross functional collaboration with Risk Owners and Risk Champions to support achievement and delivery of products and services, in alignment with established strategies, risk appetite and tolerances. 
• Assist with the development of a dynamic Enterprise Risk Management Program
• Assist with data collection, assessment, and reporting of risk management information from across all core functional areas of the Bank
• Support risk and data analysis, and reporting of enterprise-wide risks. 
• Assist with the collection, analysis, monitoring and reporting of the Bank's Quality self-assessments (QSA) report results, including coordinating with Risk Owners and Risk Champions to update risks, controls and to follow-up on completion and remedial actions. 
• Collect data and report on economic, market and industry trends to assist in identifying potential risks associated with proposed new products and strategies. 
• Manages the day-to-day operations to ensure objectives of an effective fraud investigation, prevention and detection regime are achieved. 
• Collaborates with the Training & Organizational Development department to develop an effective fraud training program, which includes introductory training for new employees/managers and ongoing training for existing employees/managers. 
• Independently conduct investigations of reported violations of rules, regulations, policies, procedures, and Standards of Conduct, where necessary from Subject Matter Experts (SMEs) such as Physical Security Officer, Information Security Officer, Credit Risk, Operations and/or Internal Audit, within 48 hours of receiving evidentiary data that is sufficient and reliable to be analyzed, evaluated and documented to arrive at an informed, substantiated, objective opinion.  All issues that may delay the completion of any investigations must be escalated to the Vice President & Chief Risk Officer for further escalation to the Executive Chairman and/or President. 
• Maintain a fraud database to:
  • Track the status of all fraud investigations, indicating which cases were sent to Regulatory Authorities (Police, FIU, etc.)
  • Document when information is released based on valid Court Orders or customer consent. 
  • Coordinate and track court proceedings and ensure staff attend court proceedings as required. 
  • Track and ensure that recommendations and outstanding remedial action from fraud investigations are closed timely and as agreed. 
  • Track to ensure fraud losses are identified and communicated to the AVP ERM and VP ERM & CRO for reporting. 
• Acts as a liaison with RBPF providing assistance as directed and where required by the AVP ERM
• Identifies potential fraud risk vulnerabilities and provides value adding recommendations to assist Management with the development and implementation of corrective action plans for resolution of problematic issues.  Provides general guidance on how to avoid similar future situations. 
• Provides regular reports on outcome of fraud investigations and makes recommendations for correction of unsatisfactory conditions, and as directed keeps the AVP ERM or VP ERM & CRO informed of the progress of efforts to remediate identified risks.  Ensure that instances of non-compliance with Regulations are being identified. 
• Perform ad-hoc risk analysis and projects as requested by the AVP ERM or VP ERM & CRO. 

EDUCATION/WORK EXPERIENCE/ SKILLS AND ABILITIES

• BA/BS Business Administration, Banking, Finance or Accounting
• Familiarity banking regulation and legislation
• Minimum of three (3) years in a financial institution and familiarity with operational, financial and risk management procedures

SKILLS AND ATTRIBUTES

• Knowledge of banking laws and regulations and direct experience working with bank regulators.
• Skills in identifying, assessing, measuring, managing, monitoring and reporting risks.
• Strong analytical skills with the ability to review and interpret a diverse array of information to support reasoned recommendations.
• Strong people skills for developing and fostering cross-group collaboration.
• Strong organization and project management skills
• Strong planning, organizing and coordinating competencies
• Ability to work independently
• Excellent written and oral communication skills.
• Advanced IT and PC skills and (Microsoft Word, Excel, Power Point)

Commonwealth Bank is a Great place to work! We offer an exciting work environment with the opportunity for growth and development. We also offer a competitive compensation package, reflecting the successful applicant’s experience and qualifications, including a performance based incentive plan, health, vision, dental and life insurances and a pension plan.  

Qualified individuals should complete the online application and submit their resumes to:

www.careers.combankltd.com/careers