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Compliance and Operational Risk Executive

New York, New York

Job Description:

The Compliance and Operational Risk (C&OR) Executive is responsible for leadership and execution of the Compliance and Operational Risk Management (“CORM”) Program by engaging with business leaders to understand strategy and direction and independently advising those leaders on how to deliver that strategy while effectively managing compliance and operational risk. The C&OR Executive leads a team of compliance and operational risk officers responsible for maintaining independent compliance and operational risk oversight of Front Line Unit or Control Function (“FLU/CF”) performance and any related third party/vendor relationships, through the identification, escalation and timely mitigation of compliance and operational risks 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).

Compliance and Operational Risk Executive responsible for managing team providing second line oversight of Wholesale Banking LOBs, including GCB, BB and Wholesale Credit.  Oversee compliance risk management program governing the lines of business, including establishing appropriate monitoring, testing and risk assessments.  Prepare executive level reporting on potential risks and escalate issues as necessary.  Participate in governance routines with senior leaders and provide advice and challenge regarding business processes.
The C&OR Executive exercises judgment, influences and constructively challenges the FLU and CF leaders, provides timely advice regarding regulatory requirements and expectations, and evaluates the implementation of controls to effectively mitigate compliance and operational risk. The C&OR Executive demonstrates business acumen and remains current regarding industry and regulatory trends, benchmarks and best practices in compliance and operational risk management for his/her area of responsibility. The C&OR Executive role remains current on local country laws, rules and regulations relevant to FLU or CF.


The C&OR Executive oversees proactive engagement 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 oversees the development and maintenance of a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Executive also advises business leaders in preparation for FLU/CF regulatory exams/audits/inquiries, participates in FLU/CF regulatory meetings, and oversees preparation of materials for C&OR regulatory exams/audits/inquiries.

The C&OR Executive provides leadership direction and attracts, assesses, develops, motivates and retains a successful team. The role ensures consistent quality of activities, processes and outputs by establishing effective review of practices across the team.
The C&OR Executive oversees the implementation and execution of the CORM Program requirements, including but not limited to the following activities:
• Oversees independent risk management reporting for area(s) of coverage to C&OR Senior Leaders and FLU/CF Senior Leaders via established governance and management routines
• Oversees C&OR input into the FLU/CF annual learning plan which may include developing and delivering training content
• Ensures that regulatory requirements and operational risks are appropriately addressed in C&OR-owned policies and standards and/or FLU/CF-owned polices, standards and procedures, inclusive of conduct risk as applicable
• Oversees changes in regulations for applicable area(s) of coverage, including advising business leaders on those changes, directing the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenging the implementation plan as needed; maintains a comprehensive regulatory inventory
• Oversees the identification, aggregation, reporting, remediation and thematic analysis of FLU/CF-owned issues and control enhancements
• Escalates compliance and operational risks and issues to appropriate governance routines, management/board level committees
• Ensures remediation of C&OR “owned” issues and control enhancements to ensure they are addressed appropriately and timely
• Accountable for risk coverage plans, oversees execution of independent risk monitoring, testing and risk assessments, communicates results and escalates when applicable
• Ensures appropriate review and challenge of the FLU/CF process, risk, and control (PRC) inventory and Risk & Control Self-Assessments (RCSA)
• Ensures appropriate review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
• Oversees Scenario Analysis activities for assigned coverage areas, including appropriate challenge and approvals
• Ensures effective measurements of key risks are established and monitored in consideration of risk coverage plans, communicates related results to FLU/CF stakeholders, provides oversight of the remediation of out of tolerance results, and escalates as appropriate

Required Skills: Minimum Years Business & Functional Experience: 10 Years

Degree Required: Bachelor’s Degree; May require regulatory examination/registration or certification depending on jurisdiction and role

Desired Skills: Financial Services or similarly regulated sector along with background in credit, compliance and operational risk. Management experience with strong writing and communication skills.

Job Band:

H3

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) Executive is responsible for leadership and execution of the Compliance and Operational Risk Management (“CORM”) Program by engaging with business leaders to understand strategy and direction and independently advising those leaders on how to deliver that strategy while effectively managing compliance and operational risk. The C&OR Executive leads a team of compliance and operational risk officers responsible for maintaining independent compliance and operational risk oversight of Front Line Unit or Control Function (“FLU/CF”) performance and any related third party/vendor relationships, through the identification, escalation and timely mitigation of compliance and operational risks 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).

Compliance and Operational Risk Executive responsible for managing team providing second line oversight of Wholesale Banking LOBs, including GCB, BB and Wholesale Credit.  Oversee compliance risk management program governing the lines of business, including establishing appropriate monitoring, testing and risk assessments.  Prepare executive level reporting on potential risks and escalate issues as necessary.  Participate in governance routines with senior leaders and provide advice and challenge regarding business processes.
The C&OR Executive exercises judgment, influences and constructively challenges the FLU and CF leaders, provides timely advice regarding regulatory requirements and expectations, and evaluates the implementation of controls to effectively mitigate compliance and operational risk. The C&OR Executive demonstrates business acumen and remains current regarding industry and regulatory trends, benchmarks and best practices in compliance and operational risk management for his/her area of responsibility. The C&OR Executive role remains current on local country laws, rules and regulations relevant to FLU or CF.


The C&OR Executive oversees proactive engagement 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 oversees the development and maintenance of a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Executive also advises business leaders in preparation for FLU/CF regulatory exams/audits/inquiries, participates in FLU/CF regulatory meetings, and oversees preparation of materials for C&OR regulatory exams/audits/inquiries.

The C&OR Executive provides leadership direction and attracts, assesses, develops, motivates and retains a successful team. The role ensures consistent quality of activities, processes and outputs by establishing effective review of practices across the team.
The C&OR Executive oversees the implementation and execution of the CORM Program requirements, including but not limited to the following activities:
• Oversees independent risk management reporting for area(s) of coverage to C&OR Senior Leaders and FLU/CF Senior Leaders via established governance and management routines
• Oversees C&OR input into the FLU/CF annual learning plan which may include developing and delivering training content
• Ensures that regulatory requirements and operational risks are appropriately addressed in C&OR-owned policies and standards and/or FLU/CF-owned polices, standards and procedures, inclusive of conduct risk as applicable
• Oversees changes in regulations for applicable area(s) of coverage, including advising business leaders on those changes, directing the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenging the implementation plan as needed; maintains a comprehensive regulatory inventory
• Oversees the identification, aggregation, reporting, remediation and thematic analysis of FLU/CF-owned issues and control enhancements
• Escalates compliance and operational risks and issues to appropriate governance routines, management/board level committees
• Ensures remediation of C&OR “owned” issues and control enhancements to ensure they are addressed appropriately and timely
• Accountable for risk coverage plans, oversees execution of independent risk monitoring, testing and risk assessments, communicates results and escalates when applicable
• Ensures appropriate review and challenge of the FLU/CF process, risk, and control (PRC) inventory and Risk & Control Self-Assessments (RCSA)
• Ensures appropriate review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
• Oversees Scenario Analysis activities for assigned coverage areas, including appropriate challenge and approvals
• Ensures effective measurements of key risks are established and monitored in consideration of risk coverage plans, communicates related results to FLU/CF stakeholders, provides oversight of the remediation of out of tolerance results, and escalates as appropriate

Required Skills: Minimum Years Business & Functional Experience: 10 Years

Degree Required: Bachelor’s Degree; May require regulatory examination/registration or certification depending on jurisdiction and role

Desired Skills: Financial Services or similarly regulated sector along with background in credit, compliance and operational risk. Management experience with strong writing and communication skills.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21074911

Band: H3

Manages People: Yes

Travel: Yes, 5% of the time

Manager:

Talent Acquisition Contact:

Alexander Watkins

Referral Bonus:

0

Street Address

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