Principal, Line of Business Risk

Job Description

Team Description: (Overview of the team)


Reporting to the Head of Operational Risk for Asset Servicing and part of a team of risk professionals supporting the Asset Servicing business globally. 


Job Purpose: (What the job role involves)


Oversight and challenge of the 1LOD to ensure

  • Operational Risk Management Framework Policies have been institutionalised by way of local Policies & Procedures and are consistently adhered to.

  • Operational risk identification, assessment and mitigation practices are appropriate and reporting and escalating where material residual risks exist.


Responsibilities: (Key parts to the job role)

  • Operational Risk Events - Oversee the accuracy, timeliness and completeness of the notification, recording, investigation, root cause analysis, remediation/corrective actions and lessons learnt of OREs together with the application of linkage with other aspects of the ORMF.  Ensure source documentation requirements are in place.  Identify trends and oversee reporting obligations. Share Lessons Learnt across businesses/beyond silos.  Assess internal and external OREs as scenario analysis triggers.
  • Business Process Change - Oversee the operational risk identification and assessment of business process changes by the 1LoD.  Ensure elevated residual risks are reported to the appropriate forum on a timely basis.  Conduct and complete Project Risk Dashboards for material and long running projects.
  • Risk and Control Self-Assessment - Oversee and challenge the 1LOD's complete and accurate operational risk identification and assessment relative to the material risks (utilising the risk taxonomy) associated with their function, product or service.  Challenge of the assessment includes assessment of control design and effectiveness, and agreement to control gap mitigation which may include oversight of corporate risk acceptance requirements.  Oversight responsibilities also include accurate documentation of risks and controls and other data elements recorded within the Risk Management Platform
  • Risk Acceptance - Monitor RCSAs on an ongoing basis for high residual risk or moderate residual risks with extended action plans - analyse risk and challenge actions - escalate to BRC & BCRO
  • Third Party Operational Risk - Responsible for the review and challenge of the risk assessment, related controls, and risk management of third-party outsourced services in the businesses that they support. Oversee that vendor management risks and controls are properly documented within the RCSA.
  • Operational Resiliency - Ensuring that operational resiliency efforts are executed according to policy requirements and that business continuity risks are properly documented within the RCSA; Oversight and challenge of the adequacy of the operational resiliency risk processes from the perspective of the business and operations including the disaster recovery testing process cross regional / alternate site / alternate procedures testing as appropriate;
  • Key Risk Indicators - Review and challenge Level 3 KRIs.  Maintain ongoing knowledge and review of Level 3 KRIs to ensure trends are being identified and controls implemented
  • Cross line of business, legal entity, regional and functional within Risk Management
  • Line of business management
  • Internal/External Audit, Compliance, Legal and Product Management


Job Skills and Knowledge:

  • Strong verbal and written communication skills.
  • Excellent problem-solving and analytical abilities.
  • Outstanding interpersonal and communications skills.
  • Good working relationships and ability to work across functional and location boundaries.
  • Sound knowledge of business areas within portfolio.
  1. Client Focus - demonstrates clear understanding of importance of effective customer service, internally and externally.
  2. Trust - evidences high standards of integrity and openness.
  3. Teamwork - demonstrates ability to work effectively as a member of a team, a collaborative style, and understands the value of diversity.
  4. "Outperformance" - evidences the ability to exceed expectations of others.

Core Competencies:

  1. Managing Self - Seizes opportunities for continuous learning and self-development and supports the development of others. Provides timely guidance and feedback to help others strengthen specific knowledge/skill areas needed to accomplish a task or solve a problem.
  2. Global Acumen - Developing and incorporating an understanding of the competitive global  business environment as well as an awareness of economic, social  and political trends that impact the organization's global strategy.
  3. Strategic Decision Making - Securing information and identifying key issues relevant to achieving a long-range goal or vision; establishing and committing to a course of action to accomplish a long-range goal or vision.
  4. Developing Strategic Relationships - Using appropriate interpersonal styles and communication methods to influence, collaborate and build effective relationships with business partners (e.g., peers, functional partners, external vendors and alliance partners).
  5. Developing Partnerships - Developing and using collaborative relationships inside and outside the organization to facilitate the accomplishment of work goals.
  6. Change Leadership - Encouraging others to seek opportunities for different and innovative approaches that transform organizational processes and systems.
  7. Client Orientation - Cultivating strategic client relationships and ensuring that the client perspective  is the driving force behind all value-added business activities.
  8. Driving Execution - Translating strategy into operational reality. Breaking down strategic priorities or business initiatives into key tasks and identifying accountabilities. Aligning communication, people, culture, processes, resources and systems to ensure effective implementation and delivery of required results.

BNY Mellon is an Equal Employment Opportunity Employer.
Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.

Primary Location: United Kingdom-Greater Manchester-Manchester
Job: Risk
Internal Jobcode: 85173
Organization: Risk-HR06016
Requisition Number: 1917656