BNY Mellon Careers
Corporate Operational Risk Principal – Senior Risk Manager - 12 month FTC
BNY Mellon’s risk management framework ensures that all material risks in each business line are defined, understood, and effectively managed by well-designed policies and controls, and that an organizational structure is in place to provide oversight in managing such risks and other strategic concerns. The Team are responsible for formulating, coordinating and maintaining an effective risk framework for EMEA, encompassing all products and services offered by the company within the region.
Responsible for the ongoing independent oversight of first line day-to-day operational risk management activities for a highly complex assigned business line facing a high level of risk. Advises and provides oversight to the first line's identification, assessment, monitoring, risk exposure remediation and reporting of the business's risk exposure. Uses extensive industry experience with standard and non-standard risks to appropriately lead the business line's activities to address any control gaps. Uses vast experience with the assigned business line in order to provide oversight of, consultation on and challenge of first line risk management practices that may have potentially broad consequences across other areas of the organization.
- Responsibility for progressing enhancements of risk framework elements which to provide greater insight into Operational Resilience and Critical Economic Functions.
- Assist with regulatory requests for risk focussed information on Operational Resilience.
- Develop the reporting capability of Operational Resilience risk information and investigate ways of automating the production of the information.
- Own the Risk framework, methodology and requirements for EMEA, supplementing global policy where required, develop common procedures and processes for EMEA to drive consistent application of the Risk Framework across Lines of Business (LoB) and Legal Entities (LEs).
- Oversee the implementation of the Risk framework in EMEA, coordinating the execution of elements as required e.g. risk register, emerging risks, risk appetite.
- Ensure that all regulatory requirements for the Risk framework are incorporated in EMEA policy and processes.
- Define the Risk framework strategy for EMEA including benchmarking best practice internally and in the industry as well as best practice on Risk framework related matters with LoB and LE risk managements.
- Develop the Risk framework to support high quality risk capital modelling including contributing to developing the risk model methodologies.
- Maintain a close relationship and coordinate all Risk framework related matters with the local regulators, as well as assessing local regulation and regulatory action on Risk framework matters, determine and communicate the effect on our businesses.
- Collaborate with management on formulating and developing the Risk framework to drive better execution of strategy and decision-making with regards to risk issues.
- Develop, coordinate and provide Risk framework related training.
The following responsibilities are discharged more broadly by Risk Management at BNY Mellon:
- Leads the assigned business unit's development of and compliance with an enterprise-wide Corporate Operational Risk Management framework by overseeing the identification, assessment and development of strategies to mitigate operational risks, anticipating and identifying emerging issues, leading the development of processes and controls to manage operational risks, monitoring the adequacy and effectiveness of the control environment, overseeing deficiency remediation, monitoring and challenging business activities and enforcing business line awareness of and adherence to the operational risk management framework.
- Independently advises on the development of reporting on operational risk management for the business line CRO on the identification, management and mitigation of operational risks that might arise from inadequate or failed internal processes, people, systems or external events.
- Leads more junior professionals in completing scenario analyses and assigns tasks. All reporting adheres to established Corporate Operational Risk Management policies and procedures.
- Instructs more junior professionals on improving compliance with the Corporate Operational Risk Management framework.
- Oversee the first line's appropriate maintenance of RCSA and HLA, timely reporting of significant events including losses events and near misses, and identification of potential idiosyncratic loss events via the scenario analysis (SA) process.
- Organizes, drives and challenges the business during SA. Contributes to the reassessment of the control methodology.
- Uses strong influence with business line senior management to ensure the completion of non-routine assessments in the event of a change, identification of a potential adverse impact, new produce offering, profit loss or adverse audit or examiner finding.
- Uses longstanding, strong working relationships with senior members of the Risk Management, Compliance and Audit teams and senior members of the business line to ensure timely completion of operational risk-related deliverables, issue resolution operational loss estimation and remediation.
- Responsible for appropriately escalating issues to the Chief Risk Officer and business unit leadership when risk exposure is deemed to be increasing.
- Effectively addresses less complex operational risk issues escalated by more junior team members.
Requirements; (what we are looking for)
- Knowledge of Risk Frameworks and Operational Risk Management, ideally gained within financial services and/or banking). Experience of Operational Resilience is highly preferred.
- Proven management and leadership skills.
- Strong interpersonal, communication and presentation skills.
- Ability to gain confidence of senior management and challenge the status quo, as appropriate.
- Superior problem solving and analytical skills.
- Ability to work independently.
- Conceptual and strategic/forward thinker.
- Proven track record of execution and delivery.
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: United Kingdom-Greater London-London
Internal Jobcode: 85189
Requisition Number: 1805347