Managing Director, HSA Front Line Controls Officer

At HSA Bank, we’re working toward a world where everyone is empowered to save for a healthy future. Our offerings in the healthcare savings space drive down healthcare costs, increase access, and assist with decision-making for consumers, health plans, partners, and advisors. 

Are you ready to join us?

Position Summary

The Managing Director, Front Line Controls Officer will play a critical leadership role in overseeing and strengthening the HSA control environment. This individual will be responsible for overseeing and strengthening the risk and control environment for multiple teams. Critical initiatives will include building out a control inventory, designing and enhancing the risk and control self-assessment program, and ensuring compliance with internal policies, industry best practices and regulatory requirements. The ideal candidate will bring significant expertise in operational risk management, internal audit, internal controls, quality assurance and testing within the Health Saving/Services sector. This individual will also be involved with strategic and transformational initiatives and the delivery of critical, large-scale, complex, high-visibility, regulatory remediation programs.

Key Responsibilities

• Leadership & Strategy: Oversight and management for multiple Front Line Unit (FLUs) aligning with the vision and objectives set by the Chief Controls Officer.
• Controls Design & Inventory: Collaborate with respective Front Line Units (FLUs) to design and implement effective controls to mitigate identified risks, providing recommendations for improvement where necessary.
• Proactive Oversight: Ensure proactive identification of potential control issues and deficiencies, determine root causes, and develop and execute on necessary remediation plans.
• RSCA Program Management: Lead the execution and documentation of RSCA processes across the respective Front Line Units (FLUs) to ensure it aligns with regulatory requirements and industry best practices. Assist with designing and enhancing the RCSA program, ensuring compliance with internal policies, industry best practices and regulatory requirements.
• Risk Assessment: Coordinate and facilitate risk assessment workshops and activities to identify potential risks and control gaps. Analyze risk data to assess the likelihood and impact of risks on the bank’s operations.
• Reporting & Communication: Prepare comprehensive reports for senior management, regulatory bodies, and board committees detailing control effectiveness, RCSA reviews, and action plans for identified gaps. Prepare executive-level dashboards and reports highlighting risk trends, control effectiveness, and areas requiring attention.
• Stakeholder Engagement: Work closely with first and second lines of defense to ensure that risk management practices are embedded within business processes. Act as the main point of contact for internal and external stakeholders regarding the respective Front Line Units (FLUs).
• Training & Awareness: Lead training sessions to enhance staff understanding of risk management principles, control processes, and RCSA responsibilities. Promote a proactive risk management culture through continuous education and awareness initiatives.
• Continuous Improvement: Evaluate and improve the overall risk and control environment to adapt to changes in the regulatory environment, business operations, and emerging risks.
• Policy & Procedure Development: Contribute to the development and update of policies and procedures related to the RSCA framework.
• Audit & Regulatory Coordination: Support internal audits and regulatory examinations, ensuring all required documentation and evidence are accurate and readily available. Act as a liaison between the business and regulators, providing transparent and comprehensive updates on the risk management program.
• Risk Management: Collaborate with senior leadership and department heads to identify and evaluate key risks, implement risk control measures, and monitor risk mitigation efforts.
• Compliance Assurance: Ensure adherence to applicable regulations and banking standards, partnering closely with Compliance, Internal Audit, and other control functions.

Requirements

Education:

• Bachelor’s degree in Finance, Business Administration, Risk Management, or a related field.
• Advanced degree and/or risk certifications preferred (CERP, etc.)

Experience:

• 10+ years of experience in risk management, operational risk, or internal audit within the Health Services, banking or financial services industry.
• Substantial experience in leading RCSA, internal audit, or similar assessment/testing programs.
• At least 5 years in a senior leadership role

Knowledge:

• Deep understanding of banking regulations, risk management frameworks, internal control standards, internal audit methodology and QA best practices.
• Strong understanding of operational risk management & control assessment methodologies.
• Knowledge of OCC Heightened Standards and Regulatory Category IV banking requirements preferred.

Skills:

• Excellent leadership and project management skills.
• Strong analytical, problem-solving, and decision-making skills.
• Excellent verbal & written communication abilities, with the capacity to present complex information clearly.
• Ability to influence senior stakeholders and build effective working relationships across business units and lines of defense.
• Strategic thinker with attention to detail and operational acumen.
• Strong commitment to quality and continuous improvement.
• Proficiency in risk management software and data analysis tools.

Travel

25% Travel to Wisconsin

The estimated base salary range for this position is $ 170,000 USD to $ 180,000 USD.  Actual salary may vary up or down depending on job-related factors which may include knowledge, skills, experience, and location. In addition, this position is eligible for incentive compensation.

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All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status.