Main Responsibilities of a VP Compliance and Operational Risk at Bank
As VP of Compliance and Operational Risk at a large bank, Karin's main responsibilities include "strategizing...how to mitigate risk," which involves developing frameworks for policies and procedures and interacting with federal regulators to ensure compliance and proper customer treatment. This high-level role requires addressing "big picture questions" and acting as a key interface between the bank and regulatory bodies.
Risk Management, Compliance, Regulatory Affairs, Strategic Planning, Leadership
Advizer Information
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Karin Lin
VP, Compliance and Operational Risk
Large Bank
UC Berkeley, 2005
UCLA - Anderson School of Business / MBA
Political Science, American Studies
Finance (Banking, Fintech, Investing)
Finance
Honors Student, Scholarship Recipient, Pell Grant Recipient, Took Out Loans, Immigrant, Worked 20+ Hours in School, First Generation College Student
Video Highlights
1. Develops and implements strategies to mitigate risks within the bank, such as creating frameworks for corporate policies and procedures.
2. Collaborates with federal regulators to ensure the bank's compliance with regulations and protects customers' interests.
3. Acts as a liaison between the bank and regulatory bodies, ensuring effective communication and adherence to regulatory requirements.
Transcript
What are your main responsibilities within our current role?
In my current role as vice president of compliance and operational risk, I do a lot of strategizing that impacts the enterprise within my company. Whenever we think strategically about how to mitigate risk at the bank, it could be something as simple as needing to set up a framework for corporate policies and departmental procedures alignment. If we were to set that up, we'd consider how that would look and how it would impact workload and staffing. A lot of big-picture questions go through the minds of leaders at this higher level.
Day to day, we also interact with federal regulators. They come in to examine the bank and ensure we're doing the right things and treating our customers correctly. They check if fees are disclosed properly and if statements or paperwork are written correctly. Different people come in and out of the bank to make sure we're doing things the right way. I also serve as the interface for that, making sure we're providing the right message to the regulators.