Manager Coverage Strategy Assessments

Job title: Manager Coverage Strategy Assessments

Company: Commonwealth Bank of Australia


Job description: Do work that matters:Risk Management (RM) is responsible for developing and deploying the risk frameworks to allow the Group to take conscious exposures to credit, market, operational, compliance and insurance risks within a Board-approved appetite.Risk Management ensures that the Group has appropriate strategies and frameworks in place to assess, manage and report on credit, market, operational, compliance and insurance risks. We do this by:

• Establishing frameworks to manage risks that are consistent with the Group’s business objectives;
• Identifying, assessing and reporting risks to the Board, Risk and Audit Committees, Executive Committee and Business Units;
• Assessing the impact of proposed changes in laws, regulations and industry codes; and
• Working collaboratively with the Business Units to achieve the optimal risk and return outcomes for the Group within the risk appetite approved by the Board.

See yourself in our Team:The Financial Crime Compliance Detection (FCCD) Team and are part of the Financial Crime Compliance team, and is responsible for the maintenance of and enhancements to the Group’s AML systems by way of data modelling and continual systems optimisation.We are responsible for identifying regulatory red flags requiring transaction-monitoring controls, analysing financial crime data, implementing detection strategies that mitigate risk, and preventing financial crime.We support financial crime technology projects, including inputs into business requirements, solution design, and testing and change management.Your Impact:This is a 12-month secondment.Your role will be responsible for ensuring coverage assessments are created and maintained demonstrating coverage of international and domestic regulator red flags against the groups products taking into account Product, KYC and Transaction Monitoring controls.You will ensure all emerging issues are initially investigated and escalated and recorded according to the groups risk management standard.You will be responsible for managing and implementing continuous improvement opportunities and ensure any impacts are communicated and managed effectively.You will lead engagements with projects, provide requirements and assist with testing and change management activities.Your responsibilities:

• Provide business support and expert advice
• Apply the Group’s FCC framework and risk mitigation strategy and support the maturation of this framework
• Contribute to efforts to reduce the potential impact of current and emerging FCC risks on CBA customers, through a focus on high risk customers and customer segments
• Contribute to strategic planning initiatives and execution of these strategies within FCC
• Contribute to Regulator relationship management Data analysis and intelligence activities as required
• Support the EM and Senior Manager in the execution of FCC objectives
• Reduce the potential impact of current and emerging FCC risks on CBA customers
• Recommend mitigating strategies and actively manage emerging events, ensuring strategies are implemented which effectively manage the associated risk.
• Ensure that clear and concise documentation is produced.
• Drive insights into trends and anomalies – including root cause analysis.
• Lead stakeholder engagements and ensure that key tasks are defined and the appropriate priority is assigned.
• Work with the Financial Crime Intelligence Unit, Financial Crime Compliance, and relevant business units to understand and document Money Laundering related risks and controls.
• Complete coverage assessment of money laundering risks, showing linkages between AML risks and the control environment.

We’re interested in hearing from people who have:

• Knowledge and experience in financial crime and/or risk management.
• Understanding of the financial crime regulatory framework with knowledge of the AML / CTF, Sanctions and ABC risk environment.
• Experience managing work relationships and business stakeholders.
• Experience in intelligence work, including information collection and development of intelligence reports.
• Experience identifying, escalating problem solving risks, issues and incidents to senior management.
• Familiarity with Agile methodology.
• SAS and SQL experience would be advantageous.

If you have the right skills and experience, we’re looking for, please apply now!Working at CommBankAt CommBank, we support our people with the flexibility to balance where work is done with at least half their time each month connecting in office. We also have many other flexible working options available including changing start and finish times, part-time arrangements and job share to name a few. Talk to us about how these arrangements might work in the role you’re interested in.If you’re already part of the Commonwealth Bank Group (including Bankwest, x15ventures), you’ll need to apply through to submit a valid application. We’re keen to support you with the next step in your career.We’re aware of some accessibility issues on this site, particularly for screen reader users. We want to make finding your dream job as easy as possible, so if you require additional support please contact HR Direct on 1800 989 696.Advertising End Date: 11/03/2025

Expected salary:

Location: Sydney, NSW

Job date: Thu, 27 Feb 2025 04:41:19 GMT

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