VP of Investment Banking Operational Risk
Company: Investment Banking / Corp. Finance, New York, NY
Location: New York
Posted on: January 23, 2019
About Global Risk – Company Operational Risk Manager: Operational Risk provides a 2 nd Line of Defence (2LOD) view of the business risk profile, and challenges the business’ strategy and control environment for mitigating the operational risks they are exposed to within their agreed appetite. The OR Partner also ensures compliance to all elements of the Operational Risk Management framework. This will be executed via attendance at relevant business governance forums and independent review and challenge of the Strategic Risk Assessment, Risk & Control Self Assessments, Event Reviews, Scenarios and Stress Testing. The Operational Risk Partner team sits alongside the Group Operational Risk (GOR) team which owns and manages Company' Operational Risk framework. GOR sets out how operational risks are identified, assessed and managed across the Group. The BI Operational Risk partnering team operate across all businesses within Company International and their supporting infrastructure teams. This role will cover a variety of Investment Banking sector specific business lines including Trading, Capital Markets, Corporate Finance and Research. Overall Purpose of role o Framework: Ensuring that the constituents parts of the Group Operational Risk Framework are effectively embedded across the relevant business and functions. o Independent Challenge – Provide robust and independent challenge to markets senior management D/MD population to ensure that Operational Risks are appropriately identified, assessed and mitigated within the wider risk appetite. This includes challenging the effectiveness of the business’ strategic risk assessments and risk management processes, to ensure the operational risks they are exposed to are kept within appetite o Risk management - Ensure that relevant Markets and Capital Markets businesses and supporting functions establish a control environment that seeks to manage operational risk appropriately. This entails identifying current and emerging risk which are then managed, monitored, reported, reviewed and documented accordingly o Assurance – Provide assurance through thematic reviews both reactive (incident/mgmt. request) and proactive (as result of own analysis as to potential exposure o Expert Guidance – provide ops risk guidance and support of framework as appropriate Your Role o Framework – Creating a business ownership and risk management culture, including risk identification, assessment, mitigation and measurement processes. Raising operational risk awareness and education on operational risk management. Identifying operational risk management best practices from within Company or from external sources and ensuring these are fully implemented within the business o Risk Management – Operational Risk Management oversight with respect to activities such as policies, tools, consolidation, analysis and reporting of data, best practices, advice/consultation with business, regulatory and economic Evaluating Operational Risk at an aggregated level including Emerging Risks. Aggregating risk, linking risk management with business performance, assessing, analysing risk data on a consolidated basis and performing aggregated analysis for input into and presentation at the relevant investment banking (IB) Business Infrastructure Forums (BIFs), and identifying issues to escalate to the relevant business Governance Risk & Control Committees (GRCs). Reviewing risk and evaluating the sustainability of operational risk mitigation activities.Attendance at relevant monthly Business Governance Forums, providing risk insight and challenge as to the specific risks discussed; propose other risks as appropriate; and more holistically to ensure that risk management is being effectively owned by the 1st line and demonstrated through the process. o Challenge – Provide robust independent challenge to the 1 st line. Attendance at relevant monthly Business Governance Forums, providing risk insight and challenge as to the specific risks discussed; propose other risks as appropriate; and more holistically to ensure that risk management is being effectively owned by the 1st line and demonstrated through the process. Reviewing and approving the criteria and process by which the operational risk associated with new activities, products, new ventures, and major changes to products, are assessed and managed. Independently monitor / challenge operational risk indicators that are used by the Business Areas o Assurance – Business to evidence understanding, use and ownership of the Operational Risk Framework (use test) through “show me” as opposed to “tell me”. Ensure fully embedded and met framework requirements (eg through monitoring of major/critical events and issues raised by business). Lead targeted proactive and reactive thematic operational risk reviews as requested by the Operational Risk management or self identified. o Expert Guidance – Providing guidance and theoretical knowledge of best practice operational risk and control techniques. In depth knowledge of Markets and Capital Markets/Investment Banking business F2B control environment. Demonstrated facilitation, influencing and negotiation skills Basic Qualifications/Skills A Bachelor’s degree 5+ years’ experience in Operational Risk, Business Control or Credit Risk Preferred Qualifications/Skills A clear understanding of Operational Risk Frameworks and their fit within the Enterprise Risk Framework Strong knowledge of the bankcard industry and operations, with emphasis on procedures and controls to address risk. Understanding of CCAR and DFAST process and requirements Familiarity with other risk types such as Credit, Market, or Liquidity risk Change Management or Six-Sigma background Experience with regulatory agencies (FDIC, OCC, Federal Reserve, PRA, etc.) The ability to negotiate with partners and peers to achieve results that support the Enterprise Risk Framework, Barclaycard’s reputation and financial results
Keywords: Investment Banking / Corp. Finance, New York, NY, New York , VP of Investment Banking Operational Risk, Accounting, Auditing , New York, New York
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