BNY Mellon Careers

Chief Risk Officer, Ireland

Dublin, Ireland
Risk


Job Description

Main Focus and Challenges:

The Chief Risk Officer, Ireland, as a senior 2nd line of defence (2LoD) appointment, will have risk oversight responsibility for Line of Business (LoB) and Legal Entity risk management covering all enterprise risk categories pertinent to business activity conducted in Ireland (predominantly operational, credit, market, strategic, fiduciary, reputational and regulatory risks).   Legal Entity coverage currently includes BNY Mellon Trust Company (Ireland) Ltd, BNY Mellon Fund Services (Ireland), BNY Mellon Markets Europe Ltd, The Bank of New York Mellon SA/NV, Dublin Branch.   The CRO will also need to work closely with the Risk team for Pershing International Securities Ireland Ltd.   Business lines include Asset Servicing, Alternative Investment Services, Trust and Depository, Corporate Trust, Markets

They will work closely with the LoB Risk teams to ensure ongoing independent oversight and challenge of day-to-day risk management activities that are owned by 1st line of defence (1LoD) businesses and are responsible for advising and supporting the Business Lines with the evaluation of their existing processes, understanding the risks that arise and assisting as appropriate in the determination of remedial actions for any control gaps that may develop. They will actively contribute as a member of the Ireland Senior Management Team and further develop 2nd line partnership with LoB Leaders to ensure independent support, challenge and oversight.   They will also work closely with global LoB Risk leaders and oversee the local LoB Risk teams to ensure consistency and alignment to global Risk frameworks as well as robust enterprise risk coverage from an Ireland legal entity perspective.

The Legal Entity related accountabilities include responsibility for risk related Board and Regulator interactions and delivery, ensuring full compliance with policies and internal governance requirements.  Responsible for delivery of Capital Planning in conjunction with the EMEA Risk Capital team and executive leadership team.  Responsible for delivery of risk appetite statements for regulated legal entities in conjunction with 1LoD and assist in keeping the Risk Register current. Work with 1LoD to implement risk management remediation and consistent application of the enterprise and operational risk frameworks.  Ensure management analysis and reporting are accurate, timely and fit for purpose.

The Chief Risk Officer, Ireland must maintain effective dialogue with a wide range of stakeholders across the corporation in order to deliver a series of legal entity and LoB focused continuous improvement risk management projects, as well as ensuring high quality routine and ad hoc risk reporting and analysis. The successful candidate should expect to work in a largely autonomous way but able to access more senior support for guidance and direction as needed.

The successful candidate will be the Senior Regulatory (Central Bank of Ireland) contact for all Risk related matters.   This is a Pre-Approved Control Function (PCF) role as specified in the Central Bank of Ireland’s Fitness and Probity regime.  

Responsibilities:

  • Responsible for overseeing and managing all enterprise risks from a 2nd line of defence perspective for all lines of business, regulated entities and branches in Ireland
  • Ensure risk appetite statements and risk registers are complete and up to date
  • Work with the local, regional and global Line of Business Risk and Business teams to ensure full 2LoD oversight and framework implementation from a business line perspective
  • Work with the Risk function teams to ensure appropriate management of credit, market, operational and liquidity risks
  • Identify, schedule and deliver the risk related legal entity requirements in a consistent and timely manner. The quality of delivery should be considered suitable for Board and external party review
  • Work with the EMEA Capital Planning team and local senior leadership legal entity teams to ensure that capital plans are compiled, reviewed, challenged and delivered on time to the appropriate Irish legal entity Boards for approval and implementation
  • Ensure the Enterprise Risk and Operational Risk Management Frameworks are fully implemented across the Irish subsidiaries and Lines of Business and support the 1st line of defence in embedding the frameworks and provide 2nd line oversight and challenge
  • Set risk appetite in the context of each Irish subsidiary strategy, taking account of capital and liquidity resources available.   Establish risk limits and tolerance levels within risk appetite and ensure that these are monitored, managed and proactively considered for business decision making on an ongoing basis
  • Routine & ad hoc investigation/reporting to legal entity governing bodies on risk exposures relative to risk appetite and ensure risks inherent in proposed business strategy, significant transactions, client business and other decisions are consistent with the governing body's risk appetite
  • Provide senior support to LoB Risk teams and to 1LoD on line of business related issues which may include, for example, risk framework tool updates, risk assessments, risk register reviews, controls environment reviews, operational resiliency, participation in line of business governance meetings, etc
  • Ensure all applicable global and local risk policies are adhered to
  • Respond to and fully own all applicable risk related regulatory findings/queries and any associated remediation work
  • Attend Line of Business Risk Committees and Business Acceptance Committees as required and escalate issues as appropriate to legal entity Risk Committees and/or the EMEA Senior Risk Management Committee
  • Attend legal entity Board and Risk Committee meetings as required and ensure all Management Information is targeted, informative, relevant and timely
  • Ensure follow up on all applicable significant issues identified by Internal Audit and Compliance, and External Auditors within agreed timelines
  • Chair the Ireland Crisis Management Team
  • Escalate any significant changes to the risk profile and control environment for the Irish subsidiaries or branches and any new material risks or threats to the EMEA Chief Risk Officer

Qualifications

Qualities and Values:

  • Ability to motivate staff to perform at consistently higher levels through coaching, stretch assignments and leading by example
  • History of excellent relationships with senior management and peers, preferably in a regionally dispersed environment
  • Ability to manage diverse work, overlapping priorities, and a diverse staff
  • Ability to work in rapidly changing environment
  • Project management skills, including large, complex projects with ability to delegate to others and drive accountability
  • Strong analytical skills and process orientation

Core Competencies and Requirements:

  • Fund related experience strongly preferred, eg fund management, fund servicing and operations, fund risk management etc
  • Solid financial market awareness, security settlement and clearing knowledge and working knowledge of the repo markets
  • The ideal candidate will be a team builder, team player, motivator and a strong and proven leader
  • A self-starter, self-motivated, self-disciplined, self-assured, and performance driven
  • Strategic as well as pragmatic, with an ability to generate trust and build alliances across businesses, business partners, functional lines, legal entities and across the EMEA region
  • Demonstrates the highest standards of professional ethics and integrity
  • Makes sound, well-informed, and objective decisions that support accomplishment of organisational goals 
  • Willingness to work across all three sites in Ireland, ie Dublin, Wexford and Cork


For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments & safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: bnymellon.com/careers.

Risk and Compliance provide risk and compliance services across all BNY Mellon businesses. Organizationally, Risk and Compliance includes the following groups: Risk Management, Compliance, Global Corporate Security, Information Risk Management and Global Business Continuity. Risk Management oversees and delivers risk services and ensures new business risks are reviewed and approved. Risk Management is organized through Chief Risk Offices for each core business and critical operation. Risk managers provide shared support to BNY Mellon for operational risk services for Global Corporate Trust, Depositary Receipts, Treasury Services and Global Operations in EMEA. Compliance helps ensure BNY Mellon's businesses maintain appropriate processes to comply with applicable laws, regulations, BNY Mellon policies and ethics. This is accomplished through business- and business partner-specific teams of professionals, under centralized global management.

BNY Mellon is an Equal Employment Opportunity Employer.

Primary Location: Ireland-Dublin-Dublin
Job: Risk
Internal Jobcode: 23580
Organization: Risk-HR06016
Requisition Number: 1801697