Third Party Risk Analyst
Do work that matters:
The Wealth Management (WM) business within the Commonwealth Bank of Australia Group is comprised of a number of smaller 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. Your Team:
Your team sits within the CFS Operational Risk area which is responsible for the protection of our customers through supervision, monitoring and maintenance of controls which in turn supports CFS Operations in managing risk to customers, business and staff within our risk appetite.
The Third Party Risk (TPR) Team is responsible for the protection of our members through the review & monitoring of AFSL holders and their authorised representatives.
As the Analyst, Third Party Risk you will support CFS Operations' focus on protecting our business from reputational risk and the risks associated with our third party relationships
In this role you will be responsible for:
We're interested in hearing from people who have:
- The ongoing review and monitoring of Third Parties (TP's) that distribute CFSIL, CFS Wrap and BWAMI products.
- Conduct qualitative and quantitative analysis of Third Party activities with recommendations for improvement to strengthen our control environment.
- The review of Third Party activity using the Reputational Risk report with analysis focused around gearing FUM allocation, ongoing Adviser Service Fee monitoring, complaints and Dealer Group concentration monitoring.
- End-to-end case management of escalated matters raised to the Adviser Review and Monitoring (ARM) Committee and any resulting trend analysis. This includes initial investigation and triage, case file compilation, formulating recommendations, engaging with third parties and internal stakeholders, and the assessment of responses.
- The development, revision and ongoing maintenance of Standard Operating Procedures.
- Active participation in own development including one on ones, development plans and performance reviews.
- Participating in the culture of continuous improvement.
- Engagement in the Four Productivity habits.
- Contributing towards a positive culture.
- Stakeholder engagement - Client Operations, Distribution, and our Third Party relationships.
Your path looks like
- RG146 compliant preferred
- Relevant tertiary qualifications preferred
- An appreciation for the Group's intermediary relationships
- Ability to think critically and rationally to ensure the best outcome for members and positive interactions with third parties
- Strong analytical and investigative skills
- Strong Excel skills
- Comfortable interacting with and influencing a wide range of audience, from peers to senior stakeholders
- The ability to understand and solve complex problems
- Excellent attention to detail and focus on high quality work
If you live the values and demonstrate the people capabilities we can offer great opportunities. Whether you want to move across the organisation or up into a leadership role, the way you live the values and demonstrate the people capabilities are key. Use the capabilities required for this role as a guide to the critical skills and behaviours you need for your next move.
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