Senior Manager, Business Line Risk

Requisition Number: 78600

Position Title:

External Description:

Role Summary

This position is part of Business Risk (second line of defense) that supports and oversees the effectiveness of the risk function within multiple business lines (first line of defense).  This position leads efforts to develop a strong organizational risk culture and to influence and ensure business line adherence with the enterprise risk management framework.

Responsibilities

• Drive Risk Culture within Business Lines: Leveraging strong knowledge of the business lines, facilitate business line awareness of and adherence to risk frameworks and policies.
• Oversee Adherence to Risk Frameworks and Policies: Hold business lines accountable for identifying and assessing risks in accordance with the firm’s risk frameworks and policies. Support the business lines’ evaluation of existing processes, identify control gaps and recommend mitigation activities. Report and escalate exceptions and facilitate business line corrective actions. Oversee and monitor business lines’ risk maturity capabilities against their stated maturity roadmaps.
• Support Issue Identification, Risk Response and Risk Assessment: Engage with and hold business lines accountable to identify, assess and mitigate risks. Advise on the business lines’ Risk Response and Risk Assessment responsibilities. Evaluate potential courses of action to address complex issues identified and recommend solutions. Ensure business line remediation is sufficient to address root cause and prevent recurrence. Support creation of the firm’s quarterly Corporate Risk Profile, Key Risk Indicators and Emerging Risks Register. Conduct Legal Entity Assessments and ad-hoc Risk Assessments for firm-wide strategic initiatives.
• Conduct Risk Reporting: Advance risk reporting capabilities for the business lines using Archer data.  Report on business line risk trends and changes to the business lines’ risk profiles.
• Perform Continuous Monitoring: Monitor business lines’ adherence to the firm’s risk framework. Continuously monitor all sources of risk existing within the business lines and externally. Understand where operational, strategic, legal/compliance and financial risks exist in the business line and continually assess and challenge existing controls to mitigate those risks. Monitor risk business lines’ risk profile against risk appetite.
• Ongoing Communication and Engagement: Maintain ongoing communications and engagements with business lines and assurance partners (including Compliance and Internal Audit).

Qualifications

Required:

• Bachelor's degree or the equivalent combination of education and relevant experience AND
• 8+ years of total relevant work experience

Preferred:

• 10+ year of relevant work experience.
• Experience in risk management, preferably in the financial services industry.
• Prior experience with a GRC platform, such as Archer or Workiva.
• Knowledge of COSO or other risk & control frameworks and best practices.
• Excellent analytical and problem-solving skills.
• Ability to analyze and assess business process for risk impact.
• Proficient in Microsoft Office applications – Word, Excel, Visio, PowerPoint, etc.
• Self-motivated and self-directed while possessing experience in successfully working with cross-functional teams.
• Excellent writing skills, oral communication, and interpersonal skills with ability to put technical terms into business communication for non-technical professionals or to present recommendations to senior management.
• Proven ability in building and fostering strong, positive working relationships in a global organization to enable a strong understanding and close alignment with business needs, direction, and risk appetite.
• Ability to build credibility with, collaborate with, and influence senior management.

FINRA Requirements

FINRA licenses are not required and will not be supported for this role.

Work Flexibility

This role is eligible for hybrid work, with up to one day per week from home.

City:

State:

Community / Marketing Title: Senior Manager, Business Line Risk

Company Profile:

Location_formattedLocationLong: Maryland, US

CountryEEOText_Description: Commitment to Diversity, Equity, and Inclusion: We strive for equity, equality, and opportunity for all associates. When we embrace the power of diversity and create an environment where people can bring their authentic and best selves to work, our firm is stronger, and we create greater value for our clients. Our commitment and inclusive programming aim to lift the experience for each associate and builds allies for our global associate community. We know that a sense of belonging is key not only to your success at the firm, but also to your ability to bring your best each day. Benefits: We invest in our people through a wide range of programs and benefits, including: • Competitive pay and bonuses as well as a generous retirement plan and employee stock purchase plan with matching contributions • Flexible and remote work opportunities • Health care benefits (medical, dental, vision) • Tuition assistance • Wellness programs (fitness reimbursement, Employee Assistance Program) Our policies may change as our working lives evolve. Yet, our commitment to supporting our associates’ well-being and addressing the needs of our clients, business, and communities is unwavering. T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.