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Compliance and Operational Risk Manager

New York, New York

Job Description:

The Compliance and Operational Risk (C&OR) Manager is responsible for engaging in activities to provide 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). As a member of an FLU or CF C&OR officer team, the C&OR Manager is accountable for proactive identification, management and escalation of compliance and operational risks through the execution of some or all of the below identified activities. This role exercises judgment and influence, and may constructively challenge FLU and CF leaders to support the CORM Program objectives, balancing business strategy with appropriate controls.

The C&OR Manager proactively engages with other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role develops and maintains a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Manager prepares materials for C&OR regulatory exams/audits/inquiries and may provide consultation to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Manager plans, drives and reviews team deliverables to support consistent quality of activities, processes and outputs. This role may contribute as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a team, or may act as an individual contributor.

The C&OR Manager contributes to the requirements of the CORM Program requirements including, but not limited to the following activities:
• Produces and/or oversees the development of independent risk management reporting for respective area(s) of coverage as input governance and management routines
• Provides subject matter expertise to assist the FLU/CF in establishing an annual learning plan, may be accountable for developing and delivering training content
• Develops and maintains C&OR-owned policies and standards and/or provides 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, advises business leaders on those changes, directs the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenges the implementation plan as needed; maintains a comprehensive regulatory inventory
• Identifies, aggregates, reports, escalates, inspects and challenges remediation plans, and performs thematic analysis on FLU/CF-owned issues and control enhancements
• Ensures C&OR “owned” issues and control enhancements are identified and addressed appropriately and timely
• Contributes to or leads development of risk coverage plans, executes and / or oversees execution of 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)
• Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
• Participates in Scenario Analysis activities for coverage areas and challenges as appropriate
• Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation

Role responsibilities:

-Globally coordinated risk oversight of electronic trading for flows across equities and fixed income.

-Working with business heads & control partners to build uniform standards of electronic trading controls across various platforms so as to mitigate risk and subsequent regulatory impact and / or financial loss.

-Identifying and categorizing the risks associated with electronically traded flow.
-In coordination with the business, technology and control partners establish and/or validate that oversight exists for all identified risks.
-Ensuring risk oversight feeds into the appropriate governance model.

-Reviewing intraday trading limits structure/controls and establishing/validating limit setting logic where necessary.
-Development of metrics and identification of key performance metrics quantifying the effectiveness of the risk framework.
-Reviewing electronically traded flow in the context of system capacity constraints and the operational environment.
-Reviewing the use of trading algorithms and direct electronic access execution paths and the associated risk & control framework.
-Developing a uniform standard for the use of trading algorithm and DEA execution path controls taking account trading requirements and market impact.
-Working with Technology to identify and manage control risks.

-Contribute to test planning and deployment as appropriate.

Additional role responsibilities:
• Proactively engages other C&OR officers, Enterprise Areas of Coverage (EAC) roles, and horizontal function roles to provide comprehensive oversight of FLU and CF activities.
• Conduct compliance and operational risk assessments of the Electronic Trading FLU, incorporating review of external loss events to assess control effectiveness.
• Provides independent review and challenge of the FLU’s Risk & Control Self-Assessment (RCSA).
• Leads the efforts and/or contributes to monitoring and testing coverage plans and related metrics for the Electronic Trading FLU.
• Monitor and test the effectiveness of the Electronic Trading FLU compliance and operational risk controls.
• Identify aggregate, report and escalate compliance and operational risks, issues and control enhancements.
• Executes and/or provides oversight of governance and management routines.
• Identify compliance and operational risk training needs, provide subject matter expertise to support development of training curriculum, and inspect Electronic Trading FLU and third party participation.
• Provides consultation to business leaders in preparations for regulatory exams and audits for Electronic Trading FLU.
• 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 Executive.

Required Skills:
• Bachelor’s degree;
• 5 - 8 years working in same arena or relevant risk management experience;
• Knowledge of Equity and FICC products and market structure;
• Understanding of trade processing systems, technology, and /or infrastructure;
• Is able to independently lead projects and drive change with Senior Business and Risk Management teams;
• Experience covering an Equities and / or FICC Electronic Trading business and has familiarity with the tools, services, marketing and other offerings of such business;
• Quantitative and / or risk management skills / experience;
• Has knowledge of laws, rules, and regulations applicable to order creation, routing, execution and post trade activities and the order management systems and platform infrastructures that support them;
• Has experience with the process of the creation of and changes to algorithms working within an Electronic Trading infrastructure;
• Has experience building or having input into to the creation of surveillance reports and testing models for use in the area of Electronic Trading order and execution flows;
• Has first-hand experience in the area of risk assessment and policy creation across all aspects of Electronic Trading;
• Has experience in building broad Risk and Compliance programs in the area of Electronic Trading.

Job Band:

H4

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) Manager is responsible for engaging in activities to provide 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). As a member of an FLU or CF C&OR officer team, the C&OR Manager is accountable for proactive identification, management and escalation of compliance and operational risks through the execution of some or all of the below identified activities. This role exercises judgment and influence, and may constructively challenge FLU and CF leaders to support the CORM Program objectives, balancing business strategy with appropriate controls.

The C&OR Manager proactively engages with other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role develops and maintains a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Manager prepares materials for C&OR regulatory exams/audits/inquiries and may provide consultation to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Manager plans, drives and reviews team deliverables to support consistent quality of activities, processes and outputs. This role may contribute as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a team, or may act as an individual contributor.

The C&OR Manager contributes to the requirements of the CORM Program requirements including, but not limited to the following activities:
• Produces and/or oversees the development of independent risk management reporting for respective area(s) of coverage as input governance and management routines
• Provides subject matter expertise to assist the FLU/CF in establishing an annual learning plan, may be accountable for developing and delivering training content
• Develops and maintains C&OR-owned policies and standards and/or provides 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, advises business leaders on those changes, directs the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenges the implementation plan as needed; maintains a comprehensive regulatory inventory
• Identifies, aggregates, reports, escalates, inspects and challenges remediation plans, and performs thematic analysis on FLU/CF-owned issues and control enhancements
• Ensures C&OR “owned” issues and control enhancements are identified and addressed appropriately and timely
• Contributes to or leads development of risk coverage plans, executes and / or oversees execution of 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)
• Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
• Participates in Scenario Analysis activities for coverage areas and challenges as appropriate
• Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation

Role responsibilities:

-Globally coordinated risk oversight of electronic trading for flows across equities and fixed income.

-Working with business heads & control partners to build uniform standards of electronic trading controls across various platforms so as to mitigate risk and subsequent regulatory impact and / or financial loss.

-Identifying and categorizing the risks associated with electronically traded flow.
-In coordination with the business, technology and control partners establish and/or validate that oversight exists for all identified risks.
-Ensuring risk oversight feeds into the appropriate governance model.

-Reviewing intraday trading limits structure/controls and establishing/validating limit setting logic where necessary.
-Development of metrics and identification of key performance metrics quantifying the effectiveness of the risk framework.
-Reviewing electronically traded flow in the context of system capacity constraints and the operational environment.
-Reviewing the use of trading algorithms and direct electronic access execution paths and the associated risk & control framework.
-Developing a uniform standard for the use of trading algorithm and DEA execution path controls taking account trading requirements and market impact.
-Working with Technology to identify and manage control risks.

-Contribute to test planning and deployment as appropriate.

Additional role responsibilities:
• Proactively engages other C&OR officers, Enterprise Areas of Coverage (EAC) roles, and horizontal function roles to provide comprehensive oversight of FLU and CF activities.
• Conduct compliance and operational risk assessments of the Electronic Trading FLU, incorporating review of external loss events to assess control effectiveness.
• Provides independent review and challenge of the FLU’s Risk & Control Self-Assessment (RCSA).
• Leads the efforts and/or contributes to monitoring and testing coverage plans and related metrics for the Electronic Trading FLU.
• Monitor and test the effectiveness of the Electronic Trading FLU compliance and operational risk controls.
• Identify aggregate, report and escalate compliance and operational risks, issues and control enhancements.
• Executes and/or provides oversight of governance and management routines.
• Identify compliance and operational risk training needs, provide subject matter expertise to support development of training curriculum, and inspect Electronic Trading FLU and third party participation.
• Provides consultation to business leaders in preparations for regulatory exams and audits for Electronic Trading FLU.
• 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 Executive.

Required Skills:
• Bachelor’s degree;
• 5 - 8 years working in same arena or relevant risk management experience;
• Knowledge of Equity and FICC products and market structure;
• Understanding of trade processing systems, technology, and /or infrastructure;
• Is able to independently lead projects and drive change with Senior Business and Risk Management teams;
• Experience covering an Equities and / or FICC Electronic Trading business and has familiarity with the tools, services, marketing and other offerings of such business;
• Quantitative and / or risk management skills / experience;
• Has knowledge of laws, rules, and regulations applicable to order creation, routing, execution and post trade activities and the order management systems and platform infrastructures that support them;
• Has experience with the process of the creation of and changes to algorithms working within an Electronic Trading infrastructure;
• Has experience building or having input into to the creation of surveillance reports and testing models for use in the area of Electronic Trading order and execution flows;
• Has first-hand experience in the area of risk assessment and policy creation across all aspects of Electronic Trading;
• Has experience in building broad Risk and Compliance programs in the area of Electronic Trading.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21056140

Band: H4

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