Transaction Processing Risk – Lifecycle Risk Management – VP
The Transaction and Processing Risk (TPR) Group is a new group within the Global Markets business and is responsible for providing front to back connectivity with support functions. We are proactively developing and implementing solutions to control and monitor transaction and processing risk activities to ensure they operate within the risk appetite. The team establishes and maintains a robust 1st Line of Defense control environment and culture to minimize risk within the business.
The objective of the Markets Post TPR Lifecycle group is to manage Market’s exposure to Lifecycle risks by identifying the risk exposures following a TPR Management Framework consisting of Risk Appetite, Governance, and Accountability. In collaboration with other areas, will also be assessing control enhancement opportunities and determining actions necessary to manage exposure within Risk Appetite.
The successful candidate will require a wide-ranging understanding of Risk Management protocols and expertise within multiple areas of Operations functions and how they interact to achieve the objectives of the function. The candidate is expected to possess in-depth appreciation on the business impact by the introduction of new and/or changes to existing regulations, processes, systems, controls, infrastructure. The candidate would ideally be familiar with Risk & Control compliance requirements for a global Markets business.
- Partner with Operations, Technology, Operational Risk Management (ORM) and others to continuously enhance (design, implement, and deliver) global Operations processing risk control framework.
- Monitor ratings and indicators to determine whether Operations is operating within (or out of) Processing Risk Appetite.
- Responsible for delivery of both small- and large-scale risk programs and workstreams.
- Ability to independently recognise the issue or a control weakness and provide solution recommendation
- Support in assessing End to End Risks and Controls design to determine gaps in existing MCA (Manager Control Assessment) framework for selected processes.
- Identify control weaknesses & gaps, report results, raise Issues (as needed) and track to resolution by collaborating with Markets Transformation and broader Transaction & Processing Risk (TPR) colleagues so that issues have corresponding implementable actions and ownership through to closure, whilst aiming for automation of enhanced controls, where appropriate.
- Assist in writing reports including issues, overall control enhancements and action plans in collaboration with key business stakeholders including Markets Management, Operations, ORM and ICRM as appropriate.
- Complete tasks within broader projects to agreed timescales, while keeping stakeholders up to date on progress and escalating as necessary.
- Support and collaborate with ICRM, ORM (2nd Line) and Internal Audit to support and respond to internal and external assessments
- Assist in creating and submitting timely Governance updates on progress against plan, key issues identified and escalating accordingly.
Knowledge, Experience & Skills:
- 5+ year experience in risk management with a focus on Operational risk and controls
- Proven track record of process and control enhancements within Operations/Middle Office and ability to perform targeted “deep-dive” assessments
- Understanding of broad range of functions and processes across Operations/MO, risks, and related controls, associated with Markets businesses
- Understanding of control design and ability to independently perform control effectiveness assessments
- Experience in financial services; experience in planning, scoping and/or leading execution of Internal Audit, Compliance or First Line assurance projects – preferable
- Strong communication skills required in order to negotiate internally, often at a senior level.
- Some experience in project management implementation
- Organizational and time management skills
- Ability to multitask
- Bachelor’s/University degree or equivalent experience
- Related certifications (CPA, ACA, CFA, CIA, ACCA, CISA or similar) preferred
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Qualified applicants will receive consideration without regard to their race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
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