Manager, Product Risk & Controls

Position Summary: The Clearing House (TCH) is a banking association and payments company that is owned by the largest commercial banks in the United States. TCH owns and operates the core payments system infrastructure in the US and is currently working to modernize that infrastructure by launching a new, ubiquitous, real-time payment system. TCH is the only private-sector ACH and wire operator in the US, clearing and settling nearly $2 trillion in US dollar payments each day, representing half of all commercial ACH and wire volume. TCH has provided critical services to the banking industry since 1853, and today, our core products facilitate services including Direct Deposit of payroll, bill payments, and check image exchange.

The Manager, Product Risk and Controls will be a critical member of the Product team, with responsibility to assist with the design, build out, and championing of First Line of Defense (FLOD) risk management activities in the Product and Strategy organizations. The role will work closely with Product and Risk teams, and others in establishing and embedded FLOD capability in the Product and Strategy Organizations. This role will perform assignments under the guidance of the VP, Risk & Product Controls.

The Manager, Product Risk & Controls, will be responsible for supporting the VP, Product Risk & Controls efforts to . identify and assess risk management as well as the effectiveness of controls for all product and innovation activities across the TCH Product and Strategy portfolio and working with the teams to own and remediate risk and enhance procedures and controls.

Qualifications Required:

• Bachelor’s Degree in Risk Management, Business Administration, Finance, or other related discipline
• 5 years of Risk Management experience serving as a subject matter expert in Enterprise or Operational Risk Management (preferably related to Operations, Technology, or Product management)
• 5 years of experience in Financial Services managing and implementing enterprise-wide projects
• Solid foundation in process decomposition and reengineering, risk assessments, and due diligence
• Proven experience in working with or contributing to First Line of Defense or ERM and/or ORM framework in a dynamic and complex organization
• Applied experience with risk governance and control industry frameworks, such as COSO or equivalents
• Current knowledge of regulations and emerging industry risks and trends in the finance, banking and payments system industry
• Ability to understand management objectives, risk appetite, tolerances and impact of changes to risk profiles
• Familiarity with risk management and control frameworks
• Experience in analyzing or managing business processes such as in a high impact technology service delivery environment
• RSA Archer or other GRC experience

Qualifications Desired:

• Product Risk Management experience in the payments industry
• FRM, PRMIA or other Risk Management certification
• Technology and/or Information Security risk related certification (e.g. CISSP, CRISC, CISA)
• Experience working with IT risk frameworks such as NIST, COBIT, and ITIL
• Knowledge of change management processes e.g. experience with SDLC, or Agile

Essential Functions and Responsibilities:

• Work with the Product, Risk, Strategy, and Enterprise Risk Management teams on the strategic roll out of the FLOD strategy for the Product and Strategy Teams
• Support Product and Strategy teams on all aspects of in-business risk and control
• Perform and review RCSA and control testing to ensure operational effectiveness of controls
• Assist in coordinating risk and control information for audits and external reviews (e.g. supervisors, external audit, etc.)
• Assist Enterprise Risk Management in evolution of TCH risk appetite statements to align with product and strategy risks and objectives
• Apply sound judgment in evaluating risks and controls. Effectively challenge product, operations, and technology leads on the identification and acceptance of risks and the adequacy of controls
• Assess and highlight opportunities for improvement around risk culture, knowledge and process across the organization
• Analyze metrics, help identify areas of improvement and collaborate on the enhancement efforts
• Track and report on the status of self-identified issues and remediation plans
• Perform independent process reviews

Physical demands and work environment: Work is generally sedentary in nature. The working environment is generally favorable. Lighting and temperature are adequate, and there are no hazardous or unpleasant conditions caused by noise, dust, etc. Work is generally performed within an office environment, with standard office equipment available.

Employees in this position will report to the office 3 days per week. Occasional travel may be required. Onsite work requirements may change at any time.

The anticipated annual salary range for NY-based candidates for this position is $120,000 to $150,000. Base salary and position level will be determined by the role, experience, skill set and location. For eligible positions, discretionary incentive compensation may be awarded contingent on personal and company performance. Our benefits program includes medical, dental, vision, life insurance, 401k plan with company contribution and company match, tuition reimbursement, parental leave and more.

Salary : $120,000 - $150,000