Enterprise Risk Management (ERM) at BNY Mellon fulfils an essential role providing an enterprise view of our aggregate risks and associated exposures and appetite. ERM is part of the larger Enterprise-Wide Risk Management (EWRM) function which brings together other key enterprise risk functions such as Risk Framework, Resiliency Risk, Risk Assurance and 3rd Party Risk.
The Corporate Operational Risk Management (CORM) team is dedicated to providing direction, guidance, transparency, tools, training, oversight and challenge to help businesses throughout the firm effectively manage operational risk. CORM also leads the design and execution of the scenario analysis program.
The role covers both the Enterprise (ERM) and Operational (CORM) risk frameworks and ensuring Legal Entity consistency and conformance and is based in London. A key objective is to provide a cohesive view of risk across the EMEA Legal Entities and to formulate, coordinate and maintain an effective enterprise and operational risk framework for EMEA.
The role will include considerable senior management exposure and working collaboratively across the wider EMEA Risk Management and global EWRM and CORM organisations, as well as with the different Lines of Business and Functions within BNY Mellon to promote a strong risk culture and continuously evolve and improve our ability to measure and monitor our risks in a proactive and meaningful fashion.
• Play a significant role in the development and implementation of complex projects aligned with an enterprise-wide risk management framework that is undergoing a strategic transformation.
• Influence the regional Risk framework strategy, methodology and requirements for EMEA, including meeting local regulatory obligations.
• Continue to enhance common procedures and processes for EMEA to drive consistent application of the Enterprise and Operational Risk Frameworks across business lines/legal entities.
• Support the implementation of the Enterprise and Operational Risk frameworks in EMEA, coordinating the execution of elements as required e.g. RCSA’s, event reporting, emerging risks, risk appetite, capital modelling, scenario analysis
• Contribute to developing risk model methodologies.
• Understand and assess all 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 Enterprise and Operational Risk frameworks to drive better execution of strategy and decision-making with regards to risk issues.
• Develop, coordinate and provide Risk framework related training in partnership with CORM
As a member of the Enterprise Risk Management team, the individual will be expected to act as a role model, promoting a culture of continuous risk management improvement with an ability to work collaboratively with team colleagues and across the organisation.
Requirements (what we are looking for)
The successful candidate will be a seasoned Risk practitioner with considerable experience and knowledge of both enterprise and operational risk, including framework enhancement, risk identification, measurement and appetite most likely gained in a similar role at another institution. Specialist knowledge of risk frameworks across risk disciplines.
• Bachelor’s degree in business or related quantitative discipline and/or a significant track record
• Relevant experience in a similar ERM or related function (5+ years minimum) with an emphasize on risk appetite, limits frameworks and associated quantification of risk
• Knowledge of Risk Frameworks and Operational Risk Management, ideally gained within financial services and/or banking).
• Familiarity with ERM policy, procedure and regulatory expectation with the ability to bring extensive industry experience and best-practice knowledge to bear. An acknowledged “thought leader” in prior roles
• Able to work with data and to analyse and present information in an impactful way for consumption by a senior audience (risk reporting etc.). Supported by strong analytical and quantitative capabilities, including advanced knowledge of MS Office – Excel for data capture, analysis etc., PowerPoint for presentation etc.
• Experience with regulatory expectation and interaction is a plus
• Strong communicator, able to explain complex concepts in a meaningful way. Strong interpersonal skills with the ability to effectively interact with senior management.
• A proactive, self-starter able to illustrate an ability to run with complex projects with tight delivery timescales and senior management expectations
• Detail oriented with a recognition of the audience and importance of accuracy. Able to collaborate with risk experts to ensure a clear explanation of risks and metrics can be shared across the organization to ensure accurate decision making
Enterprise Risk Management Responsibilities
Contributes to 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. Directs efforts to implement a large number of complex projects focused on the creation of an enterprise-wide risk management framework that establishes policies, protocols and procedures for aggregating and analysing risk data, assessing risk data and developing, recommending and implementing improvements. Assists senior organizational leadership with the evaluation of existing processes and uses growing industry experience to appropriately address control gaps and assess, monitor and report on risks inherent to the industry and with broad consequences across the organization.
The following responsibilities are discharged more broadly by Risk Management at BNY Mellon.
• Directs the organization's compliance with the enterprise risk management framework by identifying and contributing to strategies to mitigate risks, identifying emerging issues, contributing to 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 increasing organizational awareness of and adherence to the risk management framework.
• Supports cross-functional efforts to promote a strong risk culture throughout the organization.
• Independently develops cross-risk reporting for management on outputs of risk management activities. May assign reporting tasks to more junior professionals.
• Uses relationships with organizational managers to ensure the timely completion of risk-related deliverables, issue resolution, implementation of improvements and that legal obligations have been met. Escalates issues to Enterprise Risk management.
• No direct reports; provides guidance to more junior team members and may assign tasks, as needed.
• Contributes to the achievement of team objectives.
• Bachelor’s degree or the equivalent combination of education and experience is required.
• 5-10 years of related work experience preferred. Business Analytics or Risk, Financial or Regulatory Reporting background preferred.
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 London-London
Internal Jobcode: 85196
Requisition Number: 2006964