Business Application Risk Analyst I

Business Application Risk Analyst I

The Business Application Analyst I role is responsible for supporting the Risk organization through the enhancement, maintenance, and support of the Risk Applications for the bank. It is seen as the bridge between the technical and business areas, and a conduit of communication between the teams. This role is responsible for the facilitation of requirements gathering within the Risk Division. This includes adherence to the requirement gathering process, communication of recommended solutions, and organization of requirement documents.

Position Responsibilities:

Documentation, Process Enhancement, and Reporting

• Work with application developers to document and convert business requirements into end-to-end solutions.
• Work closely with the Technology team to ensure new and updated processes are properly documented.
• Prepare risk reports and communicate findings and recommendations to team leads, senior management, and stakeholders.

Cross-Team Collaboration

• Facilitate cross-team discussions with Risk colleagues to determine and document business requirements and perform gap analysis between current and future states.
• Collaborate regularly with technical teams to ensure dependencies are captured and that the team has comprehensive test scripts.
• Communicate incident response activities to leadership and stakeholders.

Risk Management and Identification

• Analyze business applications for potential Risks related to data security, compliance, and operational continuity.
• Evaluate the likelihood and impact of identified risks and prioritize them based on severity.
• Ensure applications comply with relevant regulations, industry standards, and internal policies.
• Develop strategies to reduce or eliminate risks, which could involve recommending changes to applications, processes, or policies to business partners.
• Other duties as assigned.