Managing Director - Lead Testing Officer
Webster Bank

Job Info

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Job Description

If you're looking for a meaningful career, you'll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster's values, these set us apart as a bank and as an employer.

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

Position Summary

The MD Lead Testing Officer at Webster Bank plays a critical role in enhancing Webster Bank's risk management framework by leading comprehensive testing of controls across the organization. This role ensures that controls related to regulatory compliance, operational risk, and business processes are effectively designed, implemented, and operating as intended. The Lead Testing Officer will collaborate with senior leaders to identify control deficiencies, implement remediation strategies, and strengthen Webster Bank's control environment. The ideal candidate will bring significant expertise in operational risk management, internal controls, control testing, and quality assurance within the banking 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: Develop and lead the overall strategy for the control testing function across the bank, aligning with the vision and objectives set by the Chief Controls Officer. Develop and lead the control testing framework in alignment with Webster Bank's enterprise risk management and compliance objectives. Provide strategic direction to the testing team, ensuring alignment with regulatory and organizational priorities.
• Control Testing: Design, plan, and execute risk-based control testing programs to evaluate the effectiveness of internal controls across all business units. Conduct end-to-end testing of processes, including key control identification, testing execution, and reporting. Oversee remediation efforts and ensure timely closure of control deficiencies and audit findings.
• Control Design: Collaborate with the Lead Controls Officer, Front Line Units (FLUs) and Front Line Controls Officers (FLCOs) to ensure optimal design and implementation of effective controls needed to mitigate identified risks, providing recommendations for improvement where necessary.
• Reporting & Communication: Prepare comprehensive reports for senior management, regulatory bodies, and board committees detailing testing results, control effectiveness, quality assurance outcomes, and action plans for identified gaps.
• 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 control testing matters.
• Training & Awareness: Lead training sessions and workshops to enhance awareness and understanding of control testing processes among staff and foster a proactive risk culture.
• Continuous Improvement: Evaluate and improve the control testing methodology 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 control testing framework.
• Audit & Regulatory Coordination: Support internal audits and regulatory reviews related to risk assessments and controls. Ensure that control testing documentation and evidence are prepared and available for audit and examination purposes.
• 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.
• Team Management: Recruit, develop, and mentor a high-performing team of testing professionals. Establish team goals, monitor performance, and ensure adherence to Webster Bank's values and ethical standards.

Requirements

• Education:
  • Bachelor's degree in Finance, Business Administration, Risk Management, or a related field.
  • Advanced degree preferred.
• Experience:
  • Minimum of 10 years of experience in risk management, operational risk, or internal audit within the banking or financial services industry.
  • Substantial experience in leading control testing or similar risk assessment programs.
  • At least 5 years in a senior leadership role.
• Knowledge:
  • Deep understanding of banking regulations, risk management frameworks, internal control standards, and QA best practices.
  • Strong understanding of operational risk management techniques and control testing methodologies.
  • In-depth 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 and 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.

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The estimated salary range for this position is $170,000 to $200,000. 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.

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.

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