Remediation Risk Analyst
Do work that matters:
The Wealth Management (WM) business within the Commonwealth Bank of Australia Group is comprised of a number of end-to-end businesses that focus on the investment and insurance markets and brings together the brands of Colonial First State, Colonial First State Global Asset Management (GAM), CommInsure and WM Advice. This role is within Colonial First State (CFS) and sits within the CFS Operations Division.
The CFS Remediation Support Team ensures that Remediation within the CFS business is conducted in a procedurally fair, complete and timely fashion. The team also manages the risk and control framework for the remediation business.
The Remediation Risk Analyst will contribute to proactive monitoring and management of risk within the remediation business. This will involve reviewing and improving the control environment and testing and evidencing the way remediation risk is managed. This is a 6 month secondment opportunity. Your Responsibilities:
We're interested in hearing from people who have:
- Performance of Controls Assurance Program Testing - in a line 1 Capacity specifically looking for opportunities to uplift the remediation program control environment
- Maintenance of the remediation Risk Profile including remediation object management and the ongoing review and monitoring of controls and test plans.
- Supporting the Senior Manager with Audit of remediation projects.
- Supporting the Senior Manager with the Risk and Control Self Assessment (RCSA) for the CFS remediation business with a specific focus on identifying emerging risks within remediation and customer advocacy.
- Completing Risk Assessments on Remediation processes and controls in order to support the remediation business in having a robust and functional suite of methodologies.
- Completing quality assurance reviews on remediation projects in line with the CFS Remediation Quality Assurance Framework.
If you live the values we can offer great opportunities, whether you want to move across the organisation or up into a leadership role, the Code of Conduct guides our decision making so we can do what's right in every situation.
- Previous demonstrated experience in Risk and Controls, working across Control Assurance Programs
- Experience in a change management environment
- Experience in successfully communicating with and influencing senior stakeholders
- Strong data analysis and data analytics skills, with experience using excel and access databases
- Understanding of remediation project operations, challenges and regulatory requirements
- Understanding of the perspective of members.
CBA has entered into an agreement with KKR to sell a 55% interest in its CFS superannuation and investments business for total cash consideration of $1.7billion (implying a total valuation of $3.3billion). CBA will retain a 45% shareholding in CFS.
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies.
The sale is expected to complete in the first half of 2021. As this is a role to work in the CFS business, the successful candidate will initially be employed by the CBA Group but on sale completion, their employment will transfer to a new entity that will employ the CFS business employees from completion.
If you're already part of the Commonwealth Bank Group (including Bankwest), you'll need to apply through Sidekick to submit a valid application. We're keen to support you with the next step in your career.
Advertising End Date: 29/10/2020