Senior Principal, Corporate Operational Risk

Recruiter
The Bank of New York Mellon
Location
Lambeth, UK
Salary
Competitive
Posted
13 Jun 2019
Closes
18 Jun 2019
Ref
1153120653
Sector
Accountancy
Contract Type
Permanent
Hours
Full Time
Job Description - Senior Principal, Corporate Operational Risk (1904698)Job Description Senior Principal, Corporate Operational Risk (Job Number:1904698) Description The EMEA Regulatory Risk team are responsible for providing 2nd
line oversight of Client Asset Risk and Prudential Regulation, both within Risk
as a function, and firm-wide. Ensuring
we meet our regulatory obligations. Responsible for the
ongoing independent oversight of first line day-to-day operational risk
management activities for a highly complex assigned business line facing a high
level of risk. Advises and provides oversight to the first line's
identification, assessment, monitoring, risk exposure remediation and reporting
of the business's risk exposure. Uses extensive industry experience with
standard and non-standard risks to appropriately lead the business line's
activities to address any control gaps. Uses vast experience with the assigned
business line in order to provide oversight of, consultation on and challenge
of first line risk management practices that may have potentially broad
consequences across other areas of the organization. Manage and lead the EMEA
Regulatory Risk team. This includes providing support and direction in the
creation of achievable goals for all team members, and assessing the
performance and achievements of all team members on an ongoing basis through
regular 121 meetings and the mid-year and end of year review process. Ensure all regulatory obligations
for the Risk function are identified, assessed and delivered.Manage the 2nd line
oversight of firm wide Regulatory change from horizon scanning, assessment and
successful implementation.Determine and direct the strategy
of the EMEA Regulatory Risk team and annual review plan, and develop achievable
team objectives. Act
as the Risk Management CASS 'Responsible' individual for the UK regulated
entities.Provide
direct support to the Risk Management CASS 'Accountable' individual for the UK
regulated entities.Support
the line of business client asset 'Accountable' and 'Responsible' individuals
throughout EMEA, where required.Act as EMEA Risk Management lead on all material regulatory
change programmes and projects. Develop and
deliver specific regulatory risk training to the wider EMEA Risk Management
team, and provide input into and challenge the ongoing development of the
global online regulation training modules, including CASS and CAP. Provide technical support on the application of applicable regulation to
the wider EMEA Risk Management team and relevant lines of business.Attend legal
entity and/or regional regulatory governance committees, to review and
challenge ongoing initiatives, issues and breaches, and provide appropriate
representation of regulatory risk issues.
Attend senior management governance committees
to provide updates on regulatory risk issues and developments, where
required. Escalate all
regulatory issues and concerns to the EMEA Chief Risk Officer.Support Senior Management with any queries
from external CASS/CAP auditors and/or regulators, where required. Leads the assigned business unit's
development of and compliance with an enterprise-wide Corporate Operational
Risk Management framework by overseeing the identification, assessment and
development of strategies to mitigate operational risks, anticipating and
identifying emerging issues, leading the development of processes and controls
to manage operational risks, monitoring the adequacy and effectiveness of the
control environment, overseeing deficiency remediation, monitoring and
challenging business activities and enforcing business line awareness of and
adherence to the operational risk management framework.Independently
advises on the development of reporting on operational risk management for the
business line CRO on the identification, management and mitigation of
operational risks that might arise from inadequate or failed internal
processes, people, systems or external events. Leads more junior professionals
in completing scenario analyses and assigns tasks. All reporting adheres to
established Corporate Operational Risk Management policies and procedures.
Instructs more junior professionals on improving compliance with the Corporate
Operational Risk Management framework. Oversee the
first line's appropriate maintenance of RCSA and HLA, timely reporting of
significant events including losses events and near misses, and identification
of potential idiosyncratic loss events via the scenario analysis (SA) process.
Organizes, drives and challenges the business during SA. Contributes to the
reassessment of the control methodology. Uses strong influence with business
line senior management to ensure the completion of non-routine assessments in
the event of a change, identification of a potential adverse impact, new
produce offering, profit loss or adverse audit or examiner finding.Uses
longstanding, strong working relationships with senior members of the Risk
Management, Compliance and Audit teams and senior members of the business line
to ensure timely completion of operational risk-related deliverables, issue
resolution operational loss estimation and remediation. Responsible for
appropriately escalating issues to the Chief Risk Officer and business unit
leadership when risk exposure is deemed to be increasing. Effectively addresses
less complex operational risk issues escalated by more junior team members.Qualifications .Primary Location: United Kingdom-United Kingdom-Greater London-LondonInternal Jobcode: 85190Job: RiskExperience Level: ExperiencedOrganization: Risk-HR06016

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