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Carrot Peelers, Sales, Personality and Your Job Search
In-House
Attorney
Corporate - General
Min 7 yrs required
Operational Risk and Control Assessment, Senior Vice President The candidate will provide segment and product specific expertise in order to execute effective oversight of the Business’ risk identification, assessment, monitoring and mitigation process. Will lead, coordinate and execute annual risk assessments for all NA Consumer MCA entities and align with current Key Operational Risk and Key Risk Indicator inventories to ensure all key elements of framework are incorporated into MCA ARA outputs. Lead, coordinate and execute challenges of NA Quarterly MCA entity ratings in accordance with Risk Policy ensuring that MCA entity ratings are representative of the MCA Entity’s risk exposure. Provide assistance to Businesses in anticipating and mitigating operational risks. Develop strong working relationship with the 1st line of defense within scope to be a valued and respected partner. In collaboration with ORM Business coverage, establish appropriate engagement process with the Business to enable meaningful challenge and oversight and participate in risk management focused forums. Partner with ORM Business Coverage leads / present relevant material as necessary at senior level governance forums such as Business Risk Reviews and Business Risk Compliance and Control Committees as well as for meetings with important stakeholders like the Regulators, 3rd Line of Defense and senior management. Ensure business adherence to operational risk policies with particular focus on Appendix A (Managers Control Assessment Framework). Ensure timely corrective action in case of non-compliance. Serve as the NA Consumer ORM Risk and Control Subject Matter Experts (SMEs) and provide feedback to ORM Business Coverage Teams on unmitigated significant risks. Execute responsibilities articulated in the ORM Policy for independent operational risk managers including MCA entity rating challenges and cycled ARA challenges. Ensure adherence to Consumer Op Risk procedures for independent Ops Risk Managers. Assist in the continuous improvement of these procedures to strengthen 2nd line of defense oversight. Ensure Business is linking all tools in place for managing the operational risk management cycle and evidencing the feedback loop across MCA, KOR and KRCI process, Scenario Analysis and Loss Analysis results on a continuous basis. Escalate operational risk events within the Business and within ORM as appropriate with relevant context and risk assessment. Participate in the annual policy attestation process by providing Business Coverage Product Leads with recommendations on MCA qualifiers and/or exceptions where applicable. Independently assess MCA Entity path to “Effective†and evaluate Business progress against the same. Identify trends, themes, tendencies that indicate emerging operational risks by relying on mining trends in relevant metrics (especially MCA and IA data), loss data and external events. Effectively communicate learnings to ORM Business Coverage Leads in order to drive necessary responses and action. Proactively analyze various data sources to form an independent assessment/opinion of op risk in the relevant business or function within the scope of responsibility. Continuously monitor Key Operational Risks and related Key Risk Indicators reflected in the relevant MCA entities and escalate to NA Consumer ORM Business Coverage Leads, as appropriate. Understand and articulate alignment of Business level KORs and KRIs with SRORs and Risk Indicators of the MCA Entities that constitute / support the Business. Participate in and lead Risk and Control Assessment Challenges to proactively identify significant potential gaps in risk mitigation frameworks (e.g. MCA). Identify changes in business strategy or relevant regulations that may lead to an increase in operational risk exposure and ensure that the risks and controls are adequately reflected in the relevant MCA entity or entities. Analyze ops risk losses, KOR/KRIs, Independent Audit Exams, Compliance Testing results, Regulatory Exam results, QA results to ensure linkage and coverage in applicable risk and control frameworks (e.g. MCA). Develop actions or, as appropriate, projects to apply lessons learned and share across relevant geographies/managed segments. Work as an independent partner to mitigate risk and improve processes and controls so as to take action before risks materialize into op losses. Evaluate control issues and ensure adequacy of Event Root Cause Analysis. Collaborate with ORM Business/Function in ensuring adequate corrective action plans. Support the Head of Risk and Control Assessment unit in capacity planning and departmental activities including continuous process improvement to enhance efficiency. Bachelor’s degree / master’s degree in Business, Finance, Accountancy, Law, Science, or other relevant fields is needed. Training/Certification or experience in database/MIS management tools is a plus. Should have work experience of 7+ years in the financial services industry in risk and controls assessment. In depth knowledge of Consumer NA businesses, products and the banking industry globally including major regulatory themes is a plus. Experience with firm Risk and the Managers Control Framework is a plus. Business or Risk experiences in Credit Card, Retail Banking or Personal Wealth Management is a plus.
Ref: 17071746
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