Control Testing and Reporting Manager

Job Summary

The Control Testing and Reporting Manager (CTRM) is the head of 1LOD and is responsible for the development and implementation of the 1LOD testing and reporting functions. The CTRM is responsible for the monitoring and oversight of the 1LOD functions in the operational areas managed by the Bank’s Chief Operating Officer (COO).  Reporting directly to the COO, the CTRM responsibilities include understanding controls required for compliance with applicable regulations, identification of relevant issues, controls and monitoring, industry practices and processes.  The CTRM will partner with the Enterprise Risk leadership, 2LOD, and 3LOD teams.

 Essential Duties

• Work directly with the service, product, and support Department Managers in the operational areas under the management of the COO.
• Responsible for design, development, execution of the 1LOD independent framework, which includes the development and ongoing enhancement of the controls testing and monitoring policy, standards, and procedures to define the program as well as the execution of testing to ensure controls are designed and are operating effectively.        Align these materials to the ERM Internal Control Testing Policy and Framework and other Operational Risk Management standards such as RCSAs.  
• Analyze, evaluate, and periodically review relevant compliance and risk management practices across the operational organization.
• Collaborate closely with the 2^nd and 3^rd lines to strengthen the control environment and enhance risk management practices and mature the control environment.  Coordinate testing and results with the Operational Risk Management team.  
• Develop and implement the essential 1LOD risk program functions, including but not limited to risk assessments, key risk indicator reviews and operational losses.  Participate in issues management identification and resolution for operational areas. 
• Establish and oversee the strategic plan for the design and development of the centralized control testing group composed of direct reports and dotted-line shared teams from other operational areas.
• Responsible for hiring and developing existing shared staff with the skills to test the design and operational effectiveness of controls in a wide range of operational risk areas.
• Maintain a strong understanding of the Bank’s risk management policies, control testing methodologies, and regulatory and compliance standards, including enterprise risk management, data governance, third party risk management, business continuity and associated regulations, guidance, and regulatory expectations.
• Plan and develop testing modules, scripts, sound sampling methodologies and requirements and other guides including testing approach for evaluating the effectiveness of the Bank’s first line Key Controls to mitigate key risk exposures related to regulatory requirements and risk policies and standards.
• Review and finalize prepared 1LOD Internal Control Framework Testing templates and ensure the detailed documentation of control evaluation work papers and remediation of all commentary are complete and accurate.
• Ensure that detailed and strategic thinking was applied in analyzing, aggregating, and articulating the results/issues of control testing activities and the opportunities for improvement of Key Controls to senior management.
• Develop, review, and finalize reporting which articulates the results, conclusions, memos of control testing activities and communicates to the key risk managers and appropriate Executive and Board committees.
• Actively contribute to the development, implementation and continuous improvement of tools, templates and best practices that support the control testing and reporting activities.
• Oversee, monitor, and provide support to Business Owners with the validation and closure of control issues as identified through testing and challenges.
• Support operational audits and exams as it pertains to control testing approaches, methodologies, results, and documentation.        
• Other duties as assigned.
• Understanding of the importance of compliance with all federal and state regulations.

Complies with all State and Federal Banking regulatory requirements, including but not limited to: BSA, Anti-Money Laundering OFAC, CIP, Financial Elder Abuse Reporting, Sexual Harassment, Information Security, and privacy requirements. Acts as the control point for the office to ensure that all CIP, BSA, OFAC requirements, procedures and time frames are met.

Non-Essential Duties

Officer Title Eligibility

For qualified positions, the Bank may designate an Officer Title to an employee who seeks and/or meets defined competencies for an eligible position. This position qualifies for the officer title(s) Vice President, First Vice President.

Required Knowledge, Skills, and Abilities

• Preferred Certifications:  CIA, CORM
• Strong interpersonal and influencing skills and ability to interact with colleagues at all levels of skills.
• Strong problem-solving skills such as defining and deconstructing problem
• Strong understanding of control frameworks, testing methodologies and risk assessments
• Proven ability to build and implement control testing programs to evaluate the design and adequacy and effectiveness of key controls
• Ability to Structure and develop quantitative and qualitative conceptual analysis
• Ability to influence change, build relationships, communicate effectively, work under pressure, manage multiple priorities and deliver high caliber results
• Ability and desire to foster and interact in a team environment, and willingness to contribute to team efforts  
• Highly proficient using technology including, including but not limited to, Cognos, Visio, MS Office (Excel, PowerPoint, Word, and Outlook) internet applications, and SharePoint. 
• Excellent communication skills (listens, speaks, and writes well); able to interact effectively and respectfully with people of various responsibility and authority (employees, key contacts, executives, etc.), including supervisors and co-workers. 
• Dedicated to following and maintaining deadlines
• Critical-thinking, judgment, and problem-solving skills

Equipment Operated

• Computers 
• 10 Key Machines
• Standard Office Equipment (copiers, fax machines)

Physical Requirements & Work Environment 

• Requires sitting for prolong periods of time
• Requires lifting of 5lb
• Office setting w/controlled temperature

Education and Experience 

• Bachelor’s Degree in risk, finance, accounting or related discipline
• Minimum five years of experience in controls testing, internal audit, quality control roles or other similar capacities, preferably within the financial services industry, a public accounting firm, or with a financial institution regulator
• Preferred candidate should have experience or strong understanding of the operational environment and products of a financial institution 
• Prior supervisory experience would be preferred

As a part of the Bank’s internal control systems, employees holding sensitive positions are required to be absent from their duties for a minimum of two consecutive weeks each year. This position has been deemed to meet the test for a sensitive position, and therefore you will be required to meet the minimum absence requirement each and every year. 

This job description is not intended to be all-inclusive, and employees will be required to perform additional related work duties as assigned by their immediate supervisor and/or management.

Farmers and Merchants Bank of Long Beach reserves the right to revise or change job duties and responsibilities as the need arises. This job description does not constitute a written or implied contract of employment.

September 20, 2024