MUFG Union Bank Risk Manager Transaction Banking - Director (BURCO) in New York, New York
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Risk Manager Transaction Banking - Director (BURCO)
The Head of Risk and Controls for Transaction Banking Americas – Trust Services will be responsible for developing and maintaining a comprehensive risk framework, which includes assessing, reporting, monitoring, and assisting business leadership in their management and mitigation of operational, compliance and reputation risks.
Implement the risk appetite framework and effective risk controls/remediation initiatives
Lead the implementation of the bank's risk management framework, including business environment and internal control monitoring: risk control self-assessments (RCSAs) and controls testing analysis
Develop a foundation for risk appetite and the monitoring and management of risk
In conjunction with senior management, formulate operational risk management policies, procedures, metrics, and standards
Develop approval procedures on prospective counterparties and clients
Identify control breaches in operational, reputational risk, and implement solutions
Ensure appropriate management focus on mitigation of risk, including implementation of management action plans to address open operational risk issues
Ensure the soundness of trust services products
Develop policies, procedures, and controls to ensure the overall soundness of the business portfolios
Evaluate new product strategies, i.e., for their impacts on the businesses operational risk profile; as well as, set limits and specific process control targets for all new products/services as appropriate
Track, model, and monitor key risk issues and control breaches in adherence with risk policies/limits
Develop routines to track, monitor and report control breaches and open issues, as well as the effectiveness and timeliness of remediation actions
Direct staff in the development and maintenance of financial background information, as well as operational risk and regulator coordination. Develop (i) risk management analysis reports, (ii) approval procedures and guidelines on operational risk limits by type of product and/or transaction (where appropriate), (iii) establish management and administrative procedures to ensure adherence to policies, and (iv) provide counsel to business unit managers on operational risk management issues
Collaborate with independent risk management stakeholders to ensure regulatory compliance
Ensure the development, implementation, and operation of this office is in compliance with key risk policies and standards. Work closely with the Third Party Risk Management team to ensure comprehensive and timely oversight of all Trust Services vendors and third party service providers
Work closely with the Independent Risk Management team/stakeholders and regulators to ensure policies, strategies and performance meet enterprise risk and control standards and regulatory expectations
Act as the firm’s liaison with external regulatory or legal bodies on operational risk management issues as required
Knowledge, Skills, Abilities:
The successful candidate will be a unifying leader with a pioneering spirit, who will serve as a single point of accountability in leading Trust Services risk programs, while enabling the firm’s progress (e.g., in such areas as digital and automation), growth, and momentum. This executive will bring significant experience managing sophisticated risk management frameworks and driving transformational change
The successful candidate will have 10 years of relevant risk domain experience (with a minimum of five years in leadership roles). This executive will have a thorough knowledge of the banking industry and trust services, including project finance, escrow, custody and debt services
Key functional experiences and competencies required for this role include:
A deep understanding of operational risk and associated frameworks, information security, privacy, fraud, fiduciary, SOX, product due diligence, and product process
Extensive risk assessment and vendor management experience, setting, evaluating, and testing internal controls
Proficiency implementing and using advanced quantitative tools and techniques such as financial forecasting, modeling, and the use of risk analytics techniques. Has the ability to influence the design of transformational software for customer, regulatory agencies, and key stakeholders to exceed customer requirements (both internal and external)
Strong US regulatory, compliance and governance experience – implementing heightened standards (1st, 2nd and 3rd lines of defense) and examination management
In terms of key personal, performance and leadership qualities required for this role, we would highlight the following:
A disciplined thinker who possesses the raw intellectual horsepower to effectively evaluate problems and identify solutions.
The ability to create and articulate an inspiring vision for the Trust Services businesses.
The inclination to seek and analyze data from a variety of sources to support decisions and to align others with the organization's overall risk and broader business strategy
An entrepreneurial and creative approach to developing new, innovative ideas that will stretch the organization and push the boundaries within the industry.
The ability to effectively balance the desire/need for broad change with an understanding of how much change the organization is capable of handling, to create realistic goals and implementation plans that are achievable and successful
Executing for Results
Has built a business utilizing best practices focused on risk, growth, client success, quality control, productivity, time to market, on budget and while hitting key operational metrics
Experience translating business/risk drivers into quantitative KPIs/KRIs that align with short term tactics and the longer-term strategies. Utilizes a metrics-driven and accountability-focused approach that promotes collaboration and prioritization, as well as proactive sharing of ideas and information
Comfortable with ambiguity and uncertainty; the ability to adapt nimbly and lead others through complex situations
Entrepreneurial and has energy, drive and passion, and understands what it takes to scale a business
A balanced, data-driven risk-taker who seeks data and input from others to foresee possible threats or unintended circumstances from decisions; someone who takes smart risks
A leader who is viewed by others as having a high degree of integrity and forethought in her/his approach to making decisions; the ability to act in a transparent and consistent manner while always taking into account what is best for the organization
A credible, well respected leader with track record establishing strong rapport with team members at all levels. Effective in reinforcing MUFG’s strong corporate culture through role modeling
The ability to attract and recruit top talent, motivate the team, delegate effectively, celebrate diversity within the team, and manage performance; widely viewed as a strong developer of others
The ability to persevere in the face of challenges, and exhibit a steadfast resolve and relentless commitment to higher standards, which commands respect from followers
A leader who is self-reflective and aware of her/his own limitations; leads by example and drives the organization's performance with an attitude of continuous improvement by being open to feedback and self-improvement
Relationships and Influence
Has proven strength in relationship development across business lines; is flexible and able to adapt approaches to meet the needs of a broad range of business units and multiple stakeholders.
A strong organizational influencer. A confident self-starter and change agent with positive, direct and efficient communication skills. Capable of creating strong team-oriented relationships across multiple complex functions inside and outside of their specific business. Comfortable taking initiative and defending ideas and working in a fast-paced environment where s/he can leverage the potential of a multi-faceted team within a large and diverse organization.
An ability to inspire trust and followership in others through compelling influence, powerful charisma, passion in his/her beliefs, and active drive.
Embodies the “reason to believe” in the company, both internally and with external stakeholders.
The above statements are intended to describe the general nature and level of 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.
Primary Location: NEW YORK-New York
Other Locations: ILLINOIS-Chicago, CALIFORNIA-Los Angeles, CALIFORNIA-San Francisco
Schedule Full Time
Req ID: 10041353-WD