Unpacking the Role of a Business Process Analyst III in Middle Market Banking
The Business Process Analyst III, a significant role in the Middle Market Banking team, is entrusted with the critical responsibility of assisting the first-line risk program. This role demands the implementation and execution of programs to ensure successful implementation and sustained execution. It requires a deep understanding and active engagement in various risk programs such as Risk and Control Self-Assessment (RCSA), Issues Management, Operational Risk Events, New Products & Services, Material Risk Identification, Third Party Risk Management, and Model Risk Management among others.
Key Responsibilities of a Business Process Analyst in Middle Market Banking
Cross-Functional Collaboration
A Business Process Analyst III collaborates with respective business process and business teams to assess the impact and facilitate the execution of risk programs throughout the business. This partnership with the frontline risk program team is crucial in understanding impacts based on processes within the Commercial Bank. The analyst provides necessary feedback to aid in managing risk within the Commercial Bank and partners with the business and frontline risk programs team to execute the implementation of effective program policies, standards, and procedures.
Process Management and Continuous Improvement
The role demands a thorough analysis and understanding of processes within the Commercial Bank to comprehend the current and future impacts of risk programs. As a business process subject matter expert within the Commercial Bank, the Business Process Analyst guides and coaches on process to ensure appropriate and effective collaboration between the business unit and the frontline risk program teams.
Risk Management
It is integral for the Business Process Analyst III to maintain an understanding of risk program requirements, regulatory expectations, Commercial Bank’s risk environment, and risk appetite. This knowledge aligns Commercial Bank’s activities to requirements and ensures that related policies, standards, and procedures are in place.
What does it take to become a Business Process Analyst III in Middle Market Banking?
The qualifications for this position include a Bachelor’s Degree and 2 years of experience in Risk or a High School Diploma or GED and 6 years of experience in Risk. The role requires certain skills such as business process skills, attention to detail, knowledge of risk programs, process mapping and analysis skills, data analysis and reporting skills, process improvement, risk assessment and mitigation skills, and stakeholder management and collaboration skills.
It also requires comprehensive knowledge of risk techniques, practices, control frameworks, various banking and government regulatory requirements, and processes. The ability to work effectively with associates, senior management, and various committees is essential. Furthermore, the candidate should have knowledge of regulatory guidance pertaining to enterprise risk and operational risk, as well as knowledge of product management and supporting risk management programs within a product organization.
The base pay for this position in Boston, Massachusetts, ranges between $75,000.00 and $100,000.00. The actual starting base pay is determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.
First Citizens Bank is committed to providing a competitive, thoughtfully designed, and quality benefits program to meet the needs of its associates. More details regarding this can be found here.
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