Nicolas Arce

Responsible for execution of operational and compliance risk management requirements for retail bank (incl. mortgage) line of business.

• Overhauled and implemented risk assessment and documentation practices utilizing holistic systems including Governance, Risk, and Compliance (GRC) tools, and crafting plans and responses to emerging trends.
• Performed timely closure for 100% of outstanding MRAs in 2022 from OCC, FRB, and CFPB. On track for timely closure in 2023.
• Spearheaded re-execution of regulatory obligation mapping to relevant risks and controls using natural language processing (NLP), leading to 60% reduction in SLA.
• Overhauled mortgage origination systems and servicer model, enabling real-time knowledge of customer-impacting errors and control breaks.
• Spearheaded joint partnership with Google to establish risk and control processes for brand new digital-first consumer banking entity within Google digital wallet.

Responsible for the complete transformation of the Operational Risk Management Framework and organization. Built from the ground up and implemented the firmwide Risk Appetite Program, Internal Operational Risk Loss Program, Operational Risk Capital Program, Key Risk Indicator Program, Control Testing Program, and Risk and Control Self-Assessment Program (RSCA), creating a Governance, Risk, and Control (GRC) Platform capability.

• Drove creation of Commercially Viable Operational Risk Management Team that enabled organization to seek end of its 12-year US Government conservatorship.
• Accomplished first-ever execution of operational risk management programs implemented (risk appetite, op risk losses, control testing, and risk and control self-assessment process execution).

Responsible for investigation and monitoring of operational risks within the Consumer and Community Bank (CCB) Operations lines of business.

• Executed second line of defense operational risk management framework requirements holistically
• Performed validation and assurance activities on 100% of operational risk losses and assured timely entry, lessons learned, and adequate usage of data in regulatory capital exercises
• Firmwide owner of identity theft prevention program, including associated governance requirements and appropriate execution of regulatory requirements
• Executed and oversaw targeted risk assessments CCB Operations lines of business (Fraud, Claims & Disputes, Credit Card and Overdraft Collections, Customer Remediation, Lending, Credit Bureau operations and Regulatory Operations (SCRA, ADA, EVP, NEL, TCPA, FCRA, MLA)

• Oversaw credit card debt sales program (debt–buyer relationships, regulatory and corporate requirement adherence, control testing, contract negotiations, and profit and loss statements)
• Overhauled, implemented, and executed collections litigation program for over 100 separate law firms
• Owned unsecured line of credit co-branded product, inclusive of P&L, marketing, sales, customer experience, and partner engagement
• Partnered with AAA, NEA, and Merrill Lynch to launch new credit card and rewards/loyalty programs