Synchrony
VP, Finance Process Governance Leader
Synchrony, Saint Paul, Minnesota, United States, 55199
Job Description:
Role Summary/Purpose:
The VP, Finance Process Governance Leader is responsible for leading a team focused on first line of defense process governance, ensuring Finance sub-functions have effective controls in place to mitigate compliance, reporting, and operational risk. This leader is accountable for the overall process governance strategy for all sub-functions across Finance. This role provides expertise for critical first line of defense activities such as process policy governance, risk assessments, issue management, remediation program adherence, and exam readiness. The role will drive stronger preventative controls and simplification throughout Finance processes. Additionally, this role will serve as the primary liaison with cross-functional governance and issue/change management counterparts to ensure that the financial impact and impact to Finance processes is understood and communicated to all Finance teams.
Essential Responsibilities:
Partner with Risk function ensure implementation and compliance with critical to compliance (“CTCs’) and Operational Risk requirements
Ensure process owners in Finance adhere to Risk and Control Self-Assessment (RCSA) program standards and support RCSA trigger event refreshes
Serve as the primary liaison between Finance and any governance requests, questions, comments from outside the function
Lead, develop and mentor a team of Finance governance employees, direct and indirect
Promote annual surveillance planning, standardization and optimization for Finance
Ensure appropriate monitoring and escalation of risk through detective surveillance controls
Provide guidance for effective issues management across Finance, ensuring appropriate transparency into issue fixes, timing and escalations. Review functional issue related risk acceptances.
Partner with cross-functional counterparts to calculate, review and communicate the financial impact of issues as well as remediation efforts
Evaluate the applicability, requirements and the financial impact of any new proposed regulations impacting Synchrony
Serve as primary financial SME for the Credit Governance, Growth Governance & Excellence, and Tech and Ops Governance organizations
Comply with new Remediation program elements: assign Functional Remediation Coordinator, review and coordinate remediation plan approvals, ensure execution validation and attest to remediation accuracy and completeness.
Support Business Development, New Produce Introduction (NPI) and Change Governance processes
Consolidate, monitor, and report on Finance process owner identified regulatory and reporting emerging changes and requirements
Evaluate effectiveness of KPIs, KRIs, the early warning reports and management dashboards used within Finance and refine as needed
Ensure Finance organization maintains a high level of exam/audit readiness and is prepared to effectively execute management action plans (“MAPs”), matters requiring attention (“MRAs”) and lead efforts to ensure that MRAs and findings are not repeated
Perform other duties and/or special projects as assigned
Qualifications/Requirements:
Bachelor’s Degree with 8+ years relevant management experience in audit, risk, compliance or other governance type work with a strong understanding of Finance processes
5+ years’ experience driving process improvements/management
Minimum 5 years’ experience in Audit, Risk, Compliance, or other governance type of work
Minimum 3 years’ experience interacting with external financial regulatory agencies
Strong working knowledge of Finance compliance requirements
Prior experience identifying process risks and defining key controls
Job Family Group:
Finance
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Role Summary/Purpose:
The VP, Finance Process Governance Leader is responsible for leading a team focused on first line of defense process governance, ensuring Finance sub-functions have effective controls in place to mitigate compliance, reporting, and operational risk. This leader is accountable for the overall process governance strategy for all sub-functions across Finance. This role provides expertise for critical first line of defense activities such as process policy governance, risk assessments, issue management, remediation program adherence, and exam readiness. The role will drive stronger preventative controls and simplification throughout Finance processes. Additionally, this role will serve as the primary liaison with cross-functional governance and issue/change management counterparts to ensure that the financial impact and impact to Finance processes is understood and communicated to all Finance teams.
Essential Responsibilities:
Partner with Risk function ensure implementation and compliance with critical to compliance (“CTCs’) and Operational Risk requirements
Ensure process owners in Finance adhere to Risk and Control Self-Assessment (RCSA) program standards and support RCSA trigger event refreshes
Serve as the primary liaison between Finance and any governance requests, questions, comments from outside the function
Lead, develop and mentor a team of Finance governance employees, direct and indirect
Promote annual surveillance planning, standardization and optimization for Finance
Ensure appropriate monitoring and escalation of risk through detective surveillance controls
Provide guidance for effective issues management across Finance, ensuring appropriate transparency into issue fixes, timing and escalations. Review functional issue related risk acceptances.
Partner with cross-functional counterparts to calculate, review and communicate the financial impact of issues as well as remediation efforts
Evaluate the applicability, requirements and the financial impact of any new proposed regulations impacting Synchrony
Serve as primary financial SME for the Credit Governance, Growth Governance & Excellence, and Tech and Ops Governance organizations
Comply with new Remediation program elements: assign Functional Remediation Coordinator, review and coordinate remediation plan approvals, ensure execution validation and attest to remediation accuracy and completeness.
Support Business Development, New Produce Introduction (NPI) and Change Governance processes
Consolidate, monitor, and report on Finance process owner identified regulatory and reporting emerging changes and requirements
Evaluate effectiveness of KPIs, KRIs, the early warning reports and management dashboards used within Finance and refine as needed
Ensure Finance organization maintains a high level of exam/audit readiness and is prepared to effectively execute management action plans (“MAPs”), matters requiring attention (“MRAs”) and lead efforts to ensure that MRAs and findings are not repeated
Perform other duties and/or special projects as assigned
Qualifications/Requirements:
Bachelor’s Degree with 8+ years relevant management experience in audit, risk, compliance or other governance type work with a strong understanding of Finance processes
5+ years’ experience driving process improvements/management
Minimum 5 years’ experience in Audit, Risk, Compliance, or other governance type of work
Minimum 3 years’ experience interacting with external financial regulatory agencies
Strong working knowledge of Finance compliance requirements
Prior experience identifying process risks and defining key controls
Job Family Group:
Finance
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