The job is focused on enhancing risk identification and monitoring Operational Risk Management Framework in Global Consumer Bank. Main goals include:
- Work closely with in-business and independent risk partners across the globe to mitigate operational risk losses by identifying common causes of operational risk events and designing effective preventive measures
- Identify and mitigate emerging risks by assessing combined intelligence from various sources such as customer complaints, scenario analysis, and trends in control metrics, loss frequency and external environment.
- Develop presentations appropriate for senior level audience and external regulations.
- Maintain and publish independent Risk Assessment of GCB segment and NAM LLIUs risk profile
- Engage as needed in GCB strategic initiatives and efforts to ensure that relevant GCB processes (e.g. escalation, issue management, etc.) continue evolve and remain “best in class”.
- Coordinate review of industry events by ISORMs and risk category SMEs
- Represent Consumer ORM infrastructure enhancements, participate in UAT as needed
- Develop and promote standardization within GCB ORM through but not limited to reporting, risk profiles, data warehousing, calendars, templates, etc.
KEY RESPONSIBILITIES
Risk Identification, Analysis & Assessment
- Identify trends, themes, tendencies that indicate emerging operational risks by relying on mining trends in relevant metrics, loss data and external events. Effectively communicate learnings to Business in order to drive necessary responses and action.
- Proactively analyze various data sources to form an independent assessment/opinion of op risk.
- Assist the Independent SORM in developing and implementing the data mining and conceptual approaches necessary to establish robust leading indicators and metrics to identify areas of potential OR exposure and emerging risk to enhance loss anticipation and mitigation.
- Continuously monitor Key Operational Risks and related Key Risk Indicators and have an independent assessment of which Operational Risks for the function are material and whether the risks are being appropriately mitigated.
- Participate in and lead Risk Reviews to proactively identify significant potential risks in the Business and develop specific recommendations for the Business to action.
- Identify changes in business strategy or relevant regulations that may lead to an increase in Op Risk
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Analyze themes in losses across Businesses/Geographies to understand how losses were incurred, determine lessons learned, identify root causes and use in developing recommendations for risk mitigation
Governance & Oversight
- Develop strong working relationship with partners across all lines of defense to be a valued and respected partner
- Assist Independent SORM to lead / present relevant material as necessary at senior level governance forums such as Global Consumer Control Forum, Risk Management Executive Committee, etc. as well as in individual meetings with key stakeholders.
- Understand the linkages, and ensure Business is linking all tools in place for managing the operational risk management cycle and evidencing the feedback loop across MCA, KOR and KRCI process, Scenario Analysis and Loss Analysis results on a continuous basis.
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Escalate operational risk events within the Business and within ORM as appropriate with relevant context and risk assessment
Risk Mitigation
- Drive solutions to root causes that potentially can lead to op risk
- Develop actions or, as appropriate, projects to apply lessons learned and share across relevant geographies/managed segments.
- Work as an independent partner to mitigate risk and improve processes and controls so as to take action before risks materialize into op losses.
- Evaluate control issues and ensure adequacy of Event Root Cause Analysis and corrective action plans.
Qualifications:
Knowledge /Experience
- Work experience of 5+ years in the financial services industry , positions in Risk Management, Internal Audit, Compliance or related field a plus
- Exposure to operational risk and/or internal controls is a plus.
- Working understanding of Consumer Retail products and services – lending, liability and investments.
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Bachelor’s Degree / Master’s Degree in Business, Finance, Statistics or related field
Skills
- Strong analytical and conceptual skills
- Independent thinker and able to perform a credible challenge of the Business
- Ability to influence and convince without authority
- Ability to work collaboratively within and across functions and Lines of Defense
- Effective team player and contributor in dynamic and shifting teams as well as virtual teams
- Superior communication and interpersonal skills
Competencies
- Proficient in MS Office applications necessary for executing on job responsibilities
- Excellent data / quantitative analysis skills
- Superior writing skills
- Executive presentation skills
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Grade :All Job Level – All Job FunctionsAll Job Level – All Job Functions – US
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Time Type :Full time
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