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Global Custory and Asset Services Compliance and Operational Risk Specialist

New York, New York

Job Description:

The Compliance and Operational Risk (“C&OR”) Specialist assists the C&OR officer team in activities to contribute to the independent compliance and operational risk oversight of Front Line Unit or Control Function (“FLU/CF”) performance and any related third party/vendor relationships in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs).

The C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Specialist is accountable for assisting the C&OR Team in the proactive identification, escalation and timely mitigation of compliance and operational risks through the execution of some or all of the following activities:

  • Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
  • Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
  • • Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
  • Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
  • Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
  • Assists in remediating C&OR “owned” issues and control enhancements
  • Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
  • Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
  • Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls
  • Assists with the development of risk metrics, monitors related performance and breach remediation

Required Skills:

  • Minimum Years Business & Functional Experience: 5 Years Functional Experience
  • Degree Required: Bachelor’s Degree

The Equities Compliance and Operational Risk Specialist contributes to the independent compliance and operational risk oversight of the Global Custody and Agency Services business in alignment with the Global Compliance Enterprise Policy, the Operational Risk Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs). As a member of the Equities COR team, this role applies business acumen to promote a culture of risk management and the identification, escalation and timely mitigation of compliance and operational risks by assisting the Equities COR team.

The Equities Compliance and Operational Risk Specialist contributes to the requirements in the GCOR Policy aligned to compliance and operational risk specialists, including but not limited to the following activities related to Global Custody and Agency Services :

  • Create and maintain a regulatory inventory.
  • Update relevant policies to ensure they reflect regulatory requirements for the Global Custody and Agency Services business.
  • Conduct compliance and operational risk assessments.
  • Contribute to monitoring and testing coverage plans and related metrics.
  • Conduct monitoring and testing activities to check the effectiveness of the Global Custody and Agency Services business compliance and operational risk controls.
  • Identify, aggregate, report and escalate compliance and operational risks, issues and control enhancements.
  • Identify, review and document relevant external loss events.
  • Assist in the execution of governance and management routines.
  • Identify compliance and operational risk training needs.
  • Assist with preparations for regulatory exams and audits.
  • Inspect that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
  • Escalate regulatory relations concerns to Compliance and Operational Risk Manager or Executive.
  • Provide advice and guidance to help ensure the Equities business operates in a compliant manner.

Required:

  • 3-5 years working in Global Custody and Agency Services, prime brokerage, equities, or relevant risk management experience;
  • Degree Required: Bachelor’s Degree or equivalent experience
  • Background in the laws, rules and regulations applicable to Global Custody and Agency Services and related prime brokerage businesses
  • Excellent interpersonal skills
  • Strong verbal and written communication skills
  • Experience demonstrating initiative and an eagerness to learn
  • Detail-oriented and ability to work in a fast-paced environment and under pressure
     

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

The Compliance and Operational Risk (“C&OR”) Specialist assists the C&OR officer team in activities to contribute to the independent compliance and operational risk oversight of Front Line Unit or Control Function (“FLU/CF”) performance and any related third party/vendor relationships in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs).

The C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Specialist is accountable for assisting the C&OR Team in the proactive identification, escalation and timely mitigation of compliance and operational risks through the execution of some or all of the following activities:

  • Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
  • Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
  • • Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
  • Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
  • Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
  • Assists in remediating C&OR “owned” issues and control enhancements
  • Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
  • Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
  • Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls
  • Assists with the development of risk metrics, monitors related performance and breach remediation

Required Skills:

  • Minimum Years Business & Functional Experience: 5 Years Functional Experience
  • Degree Required: Bachelor’s Degree

The Equities Compliance and Operational Risk Specialist contributes to the independent compliance and operational risk oversight of the Global Custody and Agency Services business in alignment with the Global Compliance Enterprise Policy, the Operational Risk Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs). As a member of the Equities COR team, this role applies business acumen to promote a culture of risk management and the identification, escalation and timely mitigation of compliance and operational risks by assisting the Equities COR team.

The Equities Compliance and Operational Risk Specialist contributes to the requirements in the GCOR Policy aligned to compliance and operational risk specialists, including but not limited to the following activities related to Global Custody and Agency Services :

  • Create and maintain a regulatory inventory.
  • Update relevant policies to ensure they reflect regulatory requirements for the Global Custody and Agency Services business.
  • Conduct compliance and operational risk assessments.
  • Contribute to monitoring and testing coverage plans and related metrics.
  • Conduct monitoring and testing activities to check the effectiveness of the Global Custody and Agency Services business compliance and operational risk controls.
  • Identify, aggregate, report and escalate compliance and operational risks, issues and control enhancements.
  • Identify, review and document relevant external loss events.
  • Assist in the execution of governance and management routines.
  • Identify compliance and operational risk training needs.
  • Assist with preparations for regulatory exams and audits.
  • Inspect that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
  • Escalate regulatory relations concerns to Compliance and Operational Risk Manager or Executive.
  • Provide advice and guidance to help ensure the Equities business operates in a compliant manner.

Required:

  • 3-5 years working in Global Custody and Agency Services, prime brokerage, equities, or relevant risk management experience;
  • Degree Required: Bachelor’s Degree or equivalent experience
  • Background in the laws, rules and regulations applicable to Global Custody and Agency Services and related prime brokerage businesses
  • Excellent interpersonal skills
  • Strong verbal and written communication skills
  • Experience demonstrating initiative and an eagerness to learn
  • Detail-oriented and ability to work in a fast-paced environment and under pressure
     

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21037447

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Alexander Watkins

Referral Bonus:

0

Street Address

Primary Location:
ONE BRYANT PARK, NY, New York, 10036