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Global Custody and Asset Services 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 Equities Compliance and Operational Risk (C&OR) Manager is responsible for engaging in activities to provide independent compliance and operational risk oversight of the Global Custody and Agency Services (FLU) 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 C&OR officer team, the C&OR Manager demonstrates and applies business acumen to promote a culture of risk management and supports the identification, escalation, and timely mitigation of compliance and operational risks. 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 contributes to the requirements in the GCOR Policy aligned to compliance and operational risk officers, including but not limited to the following activities related to GCAS:


• Proactively engages other C&OR officers, Enterprise Areas of Coverage (EAC) roles, and horizontal function roles to provide comprehensive oversight of GCAS activities.
• Owns and updates the relevant GCAS C&OR Policies, working with the relevant stakeholders to update regularly.
• Provides guidance to the FLU on GCAS requirements, including those related custody, escrow, issuing and paying agency, depository and fiduciary services.
• Reviews and responds to regulatory inquiries.
• Leads certain daily pre-opening processes, including reviewing daily allocation reports, monitoring for issues, among other tasks.
• Takes an active leadership role in maintaining and communicating regulatory changes, advising and directing business leaders to ensure that regulatory requirements are addressed in their respective processes and controls so that their day-to-day activities operate in a compliant manner.
• Conducts targeted and risk assessments of the GCAS, 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.
• Monitors and tests the effectiveness of the FLU compliance and operational risk controls.
• Identifies, aggregates, reports, and escalates compliance and operational risks, issues and control enhancements.
• Executes and/or provides oversight of governance and management routines.
• Identifies compliance and operational risk training needs and provides subject matter expertise to support development of training curriculum.
• Provides consultation to business leaders in preparation for regulatory exams and audits.
• Inspects that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
• Escalates regulatory-related concerns and other issues to the C&OR Executive.

Required/Desired:

• Bachelor’s degree;
• 10-15 years working in GCAS, prime brokerage or relevant risk management experience;
• Experience covering GCAS or similar prime financing business and has familiarity with the tools, services, marketing and other offerings of such business;
• Knowledge of equities market structure;
• Understanding of trade processing systems, technology, and /or infrastructure, including those related to clearing and settlement;
• Risk management skills / experience;
• Has knowledge of laws, rules, and regulations applicable to GCAS, including Regulation O, Regulation U and X, SEC Transfer Agent regulations, FDIC 370.
• Has experience building or having input into the creation of surveillance reports and testing models;
• Has first-hand experience in the area of risk assessment and policy creation for GCAS or a similar business;
• Good writer with strong communications skills;
• Detail-oriented and ability to work in a fast-paced environment and under pressure; and
• Is able to independently lead projects and drive change with senior business and Risk Management teams.
 

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 Equities Compliance and Operational Risk (C&OR) Manager is responsible for engaging in activities to provide independent compliance and operational risk oversight of the Global Custody and Agency Services (FLU) 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 C&OR officer team, the C&OR Manager demonstrates and applies business acumen to promote a culture of risk management and supports the identification, escalation, and timely mitigation of compliance and operational risks. 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 contributes to the requirements in the GCOR Policy aligned to compliance and operational risk officers, including but not limited to the following activities related to GCAS:


• Proactively engages other C&OR officers, Enterprise Areas of Coverage (EAC) roles, and horizontal function roles to provide comprehensive oversight of GCAS activities.
• Owns and updates the relevant GCAS C&OR Policies, working with the relevant stakeholders to update regularly.
• Provides guidance to the FLU on GCAS requirements, including those related custody, escrow, issuing and paying agency, depository and fiduciary services.
• Reviews and responds to regulatory inquiries.
• Leads certain daily pre-opening processes, including reviewing daily allocation reports, monitoring for issues, among other tasks.
• Takes an active leadership role in maintaining and communicating regulatory changes, advising and directing business leaders to ensure that regulatory requirements are addressed in their respective processes and controls so that their day-to-day activities operate in a compliant manner.
• Conducts targeted and risk assessments of the GCAS, 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.
• Monitors and tests the effectiveness of the FLU compliance and operational risk controls.
• Identifies, aggregates, reports, and escalates compliance and operational risks, issues and control enhancements.
• Executes and/or provides oversight of governance and management routines.
• Identifies compliance and operational risk training needs and provides subject matter expertise to support development of training curriculum.
• Provides consultation to business leaders in preparation for regulatory exams and audits.
• Inspects that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
• Escalates regulatory-related concerns and other issues to the C&OR Executive.

Required/Desired:

• Bachelor’s degree;
• 10-15 years working in GCAS, prime brokerage or relevant risk management experience;
• Experience covering GCAS or similar prime financing business and has familiarity with the tools, services, marketing and other offerings of such business;
• Knowledge of equities market structure;
• Understanding of trade processing systems, technology, and /or infrastructure, including those related to clearing and settlement;
• Risk management skills / experience;
• Has knowledge of laws, rules, and regulations applicable to GCAS, including Regulation O, Regulation U and X, SEC Transfer Agent regulations, FDIC 370.
• Has experience building or having input into the creation of surveillance reports and testing models;
• Has first-hand experience in the area of risk assessment and policy creation for GCAS or a similar business;
• Good writer with strong communications skills;
• Detail-oriented and ability to work in a fast-paced environment and under pressure; and
• Is able to independently lead projects and drive change with senior business and Risk Management teams.
 

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21071561

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