Wealth Management RCSA Consultant

Posted: 2 months ago


Our Client's Finance Transformation practice focuses on 5 key areas, including, Finance Organizational Design, Process Optimization, Finance Systems Advisory, Compliance & Assurance, and Accounting Advisory Services.

Our Client's Consulting Banking and Financial Services team has a need of a Wealth Management Risk Control Self-Assessment (RCSA) to service its clients as a Subject Matter Expert (SME) Consultant .

***Must have exposure to Wealth Management products and regulations. Candidate should be able to provide RCSA subject matter expertise to assist with annual RCSA process in first line of defense. ***


Responsibilities:

  • Facilitate annual Risk Control Self-Assessment refresh for Client Regulatory Services
  • Train the WM Business Unit on annual RCSA process requirement
  • Maintain a catalogue (inventory) of business processes, which ultimately lead to the creation of risks and controls
  • Coordinate with WM business unit to obtain applicable business processes, corresponding risks and controls
  • Develop framework to capture new business processes and risks, which lead to the design and implementation of new controls within WM business unit
  • Establish controls based off the creation of new business processes. Establish "common sense controls that were not created during previous RCSA Refresh
  • Interface with Operational Risk team to log all risks and controls based on best practices provided
  • Establish and compile Key Risk Indicator metrics that indicate execution and effectiveness of Controls program
    • Regulatory Exams / Internal Audit / Compliance Liaison
    • Provide pre and post regulatory exam support. Interface with regulators during regulatory exams
    • Communicate the resolution of previously identified issues to regulators
    • Provide support during Compliance Testing and Audits
    • Work with management to assess the results of Audit/Testing reports and track issues and action plans for completion

Qualifications:
  • Minimum 10+ years of experience with CA/ CPA/ MBA/ Finance/ Accounting major work experience in wealth management preferably within the Banking and Financial Services industry
  • Any Big4 /Consulting experience is a plus