Risk and Compliance Specialist

Skill required: Risk & Compliance - Insurance Risk Management
Designation: Risk and Compliance Specialist
Qualifications:Any Graduation
Years of Experience:7 to 11 years
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security.Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Technology and Operations services, and Accenture Song— all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 784,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities.Visit us at www.accenture.com
What would you do? Risk Programs Specialist will be responsible for Managing 1LOD process and control assessments; including issues and remediation actions; Supporting collaboration with other 1LOD teams and risk team across Issue and Management Action Plan lifecycle. This role requires a thorough understanding of risk management principles as well as fundamental knowledge on Retirement, Record Keeping and Wealth management industry Key Responsibilities: 1LOD Control Testing and Documentation • Assist in coordination of the generation of the auditor representation letter annually for inclusion of controls executed by Operations teams • Coordinate response to Business & Control Owner questions regarding control testing and documentation • Support engagement with Business & Control Owner testing activities, coordinate SME availability, and manage requests for information • Support engagement with stakeholders on control gap remediation planning and implementations • Coordinate development of remediation plans for any exceptions, qualifications or non-satisfactory findings and incorporate into overarching remediation plan Enterprise Remediations • Supports critical risk functions and escalate operational errors through the defined escalation channels • Coordinate root-cause analysis and work with • Lead remediation activities in coordination with stakeholders, perform lost earning calculations, and review distribution of remediation payments • Participate in remediation meetings, track remediation status, and report on status updates Incident/Loss Management & Reporting • Identify incidents that occur within outsourced processes • Consolidated incident summaries in coordination with Business Process and Control Owners • Coordinate the development and implementation of Management Action Plans and participate in client incident meetings • Participate in required business forums and provide inputs and access to SMEs
What are we looking for? Information Security and Privacy • Coordinate reporting of suspected breaches, privacy violations, and information security events within required timelines • Support coordination of required research, resolution, and communication of Information Security and Privacy events • Ensure compliance with required Information Security and Privacy policies and contract terms Internal and External Audits, Reg Exams and Reg Reporting • Support coordination of internal resources, as required to address regulatory items • Support aggregation of data and documentation requests within required timelines Issue Management & Reporting • Support development of Issue and Management Action Plans in accordance with defined requirements, including submitting into Risk Management system of record • Support implementation of Management Action Plans as set forth in the applicable policies and requirements within the agreed upon timelines • Coordinate identification, reporting and escalation of Issues with respect to services and supporting applications • Coordinate aggregation of data or supplemental information required to perform issue validation on the services and supporting applications and submit in risk management system of record for validation in accordance with applicable policies Process & Control Reviews • Provide input on process mapping as part of sprint execution • Serve as a subject matter advisor on control strength assessments and prioritization/implementation of control gaps • Identify and escalate high risk processes and control gaps in services and supporting applications
Roles and Responsibilities: •Here s What You Will Need: • Bachelor’s Degree in Accounting, Business Administration, Finance or equivalent. Equivalent degree only accepted if experience is relevant. • Minimum of 3 years of experience in risk management, including designing and implementing risk management programs. • Strong understanding of risk management principles, methodologies, and tools, including risk assessment techniques, risk modeling, and scenario analysis. • Excellent analytical skills with the ability to assess complex situations, identify root causes, and develop practical solutions. • Exceptional communication skills, both written and verbal, with the ability to effectively communicate complex concepts to diverse audiences. • Highly organized and detail-oriented, with the ability to manage multiple priorities and deadlines in a fast-paced environment. • Proficiency in risk management software and tools, as well as Microsoft Office Suite (Word, Excel, PowerPoint, Outlook). Professional Skills Requirements • Strong Microsoft Excel skills • Strong process-related skills • Organized and detail-oriented • Proven analytical and problem-solving abilities • Willingness to work flexible hours, as necessary, to meet monthly and quarterly deliverable deadlines and to provide extended-hour customer service support.