Risk Director (Senior Principal, Enterprise Risk)

Job Description

Main Focus and Challenges:

 

The Risk Director Ireland is a senior 2nd line of defence (2LoD) appointment, supporting the Chief Risk Officer Ireland who has 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 and Strategic Risk).   

 

The individual will work closely with the LoB Risk teams who provide 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 work closely with EMEA LoB Risk leaders and local LoB Risk teams delivering 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 delivering full compliance with policies and internal governance requirements. Delivery of a Risk Appetite Framework; Providing guidance, oversight and challenge to the 1LOD on the implementation of the High Level Assessment (HLA) risk identification process; and Providing guidance, oversight and challenge to the Capital and Wind Down Planning processes for Ireland regulated entities. 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 Risk Director Ireland will 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.

 

Responsibilities:

  • Responsible for overseeing and managing all enterprise risks from a 2nd line of defence perspective
  • Ensure risk appetite statements are complete, refreshed annually, and metrics are monitored and reported appropriately
  • Overseeing the identification, assessment and reporting of risks for the regulated entities through the Material Risk Identification process (the HLA process)
  • As required engage and support the Compliance Function with respect to the Central Bank of Ireland PRISM supervisory reviews, and lead out on risk related Risk Mitigation Programmes as a required. 
  • Work with the local and regional 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 all enterprise risk types
  • 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
  • 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 identification 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
  • 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 Chief Risk Officer Ireland
  Enterprise Responsibilities:

Responsible for the development and ongoing management/maintenance of an enterprise-wide strategy for managing risk that overlays the organization's individual operational, strategic, market, credit, business and information risk strategies, among others. Leads efforts to develop and implement a large number of highly complex projects focused on the creation of an enterprise-wide risk management framework that establishes policies, protocols and procedures for aggregating and analyzing risk data, assessing risk data and developing, recommending and implementing improvements. Advises and assists senior organizational leadership with the evaluation of existing processes and uses extensive industry experience to appropriately address control gaps and anticipate, assess, monitor and report on risks inherent to the industry and with broad consequences across the organization.

 

Core Competencies and Requirements:

  • Strong background in risk management, notably the implementation and embedding of risk frameworks and related tools. 
  • Fund related experience strongly preferred, eg fund management, fund servicing and operations, fund risk management etc
  • Experience at participating in senior governance fora, and senior level engagement with internal and external stakeholders, including regulatory bodies. 
  • 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 
  • Prior approval by the Central Bank of Ireland as Head of Risk (PCF 14) an advantage
 

Key deliverables:

  • Leads the organization's compliance with the enterprise risk management framework by identifying, assessing and developing strategies to mitigate risks, anticipating and identifying emerging issues, leading the development of processes and controls to manage risks, monitoring the adequacy and effectiveness of the control environment, remediating deficiencies, monitoring and challenging activities with high degrees of risk potential and enforcing organizational awareness of and adherence to the risk management framework.
  • Leads cross-functional efforts to promote a strong risk culture throughout the organization. Promotes a culture of continuous risk management improvement.
  • Independently develops cross-risk reporting for the Board, Executive Committee and Senior Risk Committee on outputs of risk management activities. Assigns reporting tasks to more junior professionals. Instructs more junior professionals on developing reporting that is in compliance with the enterprise risk management framework.
  • Uses relationships with senior organizational leaders to ensure the timely completion of risk-related deliverables, issue resolution, implementation of improvements and that legal obligations have been met. Responsible for escalating issues to Enterprise Risk senior management and addressing less complex issues escalated by more junior team members.
  • Responsible for the development of an in-house risk consulting group that advises the operating functions and business lines by championing risk management best practices and challenging existing practices to encourage continuous improvement.
     


Qualifications

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BNY Mellon is an Equal Employment Opportunity Employer.

Primary Location: Ireland-Dublin-Dublin
Job: Risk
Internal Jobcode: 85197
Organization: Risk-HR06016
Requisition Number: 1916595