MUFG Union Bank Business Operational Risk Assessments - Institutional Broker-Dealer Businesses & Corporate Functions, Vice President in New York, New York
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Reporting to the Business Operational Assessments Director for Wholesale, Institutional and Broker-Dealer Businesses, Risk Management and IT, responsible for executing the second line of defense review and challenge program across all business activities and corporate functions of our Institutional Broker-Dealer businesses and entities.
- Execution of a risk-based review and challenge work program to monitor the business lines' and corporate functions fulfillment of its first line of defense operational risk management responsibilities. The work programs are intended to align to the framework requirements and:
o provide input as to whether the business lines and corporate functions are utilizing all of the tools of the operational risk management framework (e.g. internal and external loss data, RCSA, Business Environment factors and Scenario Analysis), in an integrated manner, and in accordance with second line of defense policies and standards.
o provide a mechanism for the second line of defense to review and validate or challenge that the coverage of the business unit processes and associated risks and controls are complete and risk ratings are appropriate.
o provide a mechanism to evaluate whether the integrated operational risk management framework is effectively used in the management of the business.
Produce quarterly operational risk scorecards and reports (e.g. RCSA review and challenge results) that provide executive management a consolidated view of the assigned business lines' adherence to the operational risk framework in effectively managing risk as the bank's first line of defense and the second line of defense ORM’s view of the area’s operational risk profile and trend.
Participate in structured Business Unit Review and 'business as usual' working meetings to foster a deep understanding of the business and changes that impact its operational risk profile.
As part of the ongoing monitoring of the business lines and corporate functions, the incumbent is expected to:
o Review the results of internal audits and examinations
o Review the business lines monthly business review and financial reports, as available (focusing on potential areas of increased risk)
o Review and challenge new or expanded products or services risk assessments implemented by the business
o Review key technology or business process changes or projects in process, along with associated business line policy and procedure modifications
o Review changes to the organizational structure within the business, including turnover and key vacancies
o Review progress in action plans to address issues (identified from all sources), as well as new management self-identified issues.
o Stay abreast of key external industry issues impacting our businesses (e.g regulatory, competitive landscape, key challenges, etc.)
Based on the above monitoring, changes to the scope of review and challenge activities should be addressed accordingly.
Lead periodic review and challenge sessions with Business Unit Risk and Control Officers and Business Unit executives to discuss the output of executed review and challenge activities (e.g. RCSA, Issue or MRA remediation), as well as areas of concern.
Document all work in accordance with pre-defined standards and is ready for third party review upon request.
Develop strong professional relationships with the Business line Risk and Control teams, Line of Business leaders and other Operational Risk Partners (e.g. subject matter experts in compliance, information risk, model risk management) to ensure trust and transparency amongst the lines of defense.
Support initiatives periodically assigned by the Business Operational Risk Assessment leadership.
8-10 years’ experience in operational risk management, internal audit, consulting, regulatory or related field
Experience in control testing techniques and documentation
Strong knowledge of operational risk regulatory expectations and industry practices
Demonstrated ability to manage demanding workloads and prioritize deliverables
Interactions / Interpersonal Skills:
o Strong interpersonal skills to manage relationships with Business Unit Risk and Control Managers, Line of Business Executives and other Operational Risk SMEs
o Strong oral / written communication skills.
o Able to build relationships with people at all levels. Able to influence and galvanize support of others. Builds rapport and trust among stakeholders
o Ability to promote cooperation and good working relationships among team members and peers.
o Experience in working with regulators and auditors.
Broad view of the financial services industry.
Strong knowledge of broker-dealer business line and corporate function risks and controls. Emphasis on front, middle and back offices for Capital Markets, Rates, Equities and Fixed Income products.
Intermediate to strong knowledge of IT processes, risks and controls
Expertise in control testing techniques and documentation
Strong understanding of operational risk management programs and practices, including IT and third party risk
Exceptional organizational skills.
/The above statements are intended to describe the general nature and level of the work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified./
/We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category./
/A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it’s the bank’s policy to only inquire into a candidate’s criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses./
Job: *Risk & Compliance
Title: Business Operational Risk Assessments - Institutional Broker-Dealer Businesses & Corporate Functions, Vice President
Location: NEW YORK-New York
Requisition ID: 10027189-WD