Bank of China USA
Operational Risk Management Department - Operational Risk Manager (2LOD) – Custo
Bank of China USA, New York, New York, us, 10261
Overview
This position is a 2nd line operational risk manager, responsible for establishing appropriate risk management program and processes to effectively measure, monitor and control the relevant risks that may arise from BOCUSA custody business operations. The incumbent will oversee the relevant risk management activities, review and challenge relevant RCSA and Front Line Unit (FLU) risk identification, help develop and monitor operational risk Key Risk Indicators (KRIs), and provide SME input on relevant operational events or issues for root cause analysis and rectification. Responsibilities
Provide second line oversight of operational risk across custody operations. Review and challenge risk assessments, control testing, loss event data, and issue management performed by the first line. Participate in risk governance committees and support the development of risk appetite metrics and thresholds for custody-related services and operations. Prepare reporting for risk committees for oversight. Review and challenge the FLU RCSA for the custody business to ensure sufficient risk identification and appropriate risk measurement, acting as the subject matter expert (SME). Identify emerging operational risks and coordinate scenario analysis where needed. Review third-party risk management specific to sub-custodian networks and outsourcing arrangements. Facilitate and conduct risk assessment as related to the custody business to ensure risk taken is aligned with the bank’s risk appetite. Evaluate and challenge the effectiveness of risk control measures, monitor risk, and propose risk mitigation measures as needed. Monitor relevant operational risk-related KRIs and KPIs, promptly investigating any breaches of limits or alert thresholds. Monitor and challenge the effectiveness of issue and incident management; ensure timely escalation and reporting of material operational risk events. Assist with analysis and trends related to KRIs and operational loss data. Support risk reporting to the Operational Risk Committee (ORC), the Risk Management & Internal Control Committee (RMICC) and the Board (USRMC); ensure risk management practices are consistent with the bank’s Risk Governance Framework and the Operational Risk Management Framework. Adhere to regulatory requirements and keep abreast of key regulatory guidance impacting operational risk, BOCUSA branches and custody activities; facilitate regulatory exams and internal/external audit reviews and promptly rectify any identified issues. Act as a trusted advisor to the first line custody operations team, providing SME on risk mitigation and control design; partner with Compliance, Legal, and other risk managers to ensure a coordinated approach; liaise with Operational Risk Management Framework Governance and Oversight team to facilitate training and awareness for custody operations staff on key operational risk concepts. Qualifications
Bachelor’s degree required. A minimum of 6 years of experience in the Banking industry and operational risk management, with product risk management and in-depth knowledge of custody services and operations for AVP level; a minimum of 7 years required for VP level. Knowledge of operational or enterprise risk management concepts, frameworks, methods, and good governance practices. Familiarity with third-party risk, business continuity and resilience relevant to custody operations. Understanding of OCC Heightened Standards and related regulatory guidance around operational risk management. Proficiency in Microsoft Excel, PowerPoint, and other reporting tools; experience with GRC tools preferred. Proficiency in Mandarin preferred. Pay Range
Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications. USD $65,000.00 - USD $230,000.00 /Yr.
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This position is a 2nd line operational risk manager, responsible for establishing appropriate risk management program and processes to effectively measure, monitor and control the relevant risks that may arise from BOCUSA custody business operations. The incumbent will oversee the relevant risk management activities, review and challenge relevant RCSA and Front Line Unit (FLU) risk identification, help develop and monitor operational risk Key Risk Indicators (KRIs), and provide SME input on relevant operational events or issues for root cause analysis and rectification. Responsibilities
Provide second line oversight of operational risk across custody operations. Review and challenge risk assessments, control testing, loss event data, and issue management performed by the first line. Participate in risk governance committees and support the development of risk appetite metrics and thresholds for custody-related services and operations. Prepare reporting for risk committees for oversight. Review and challenge the FLU RCSA for the custody business to ensure sufficient risk identification and appropriate risk measurement, acting as the subject matter expert (SME). Identify emerging operational risks and coordinate scenario analysis where needed. Review third-party risk management specific to sub-custodian networks and outsourcing arrangements. Facilitate and conduct risk assessment as related to the custody business to ensure risk taken is aligned with the bank’s risk appetite. Evaluate and challenge the effectiveness of risk control measures, monitor risk, and propose risk mitigation measures as needed. Monitor relevant operational risk-related KRIs and KPIs, promptly investigating any breaches of limits or alert thresholds. Monitor and challenge the effectiveness of issue and incident management; ensure timely escalation and reporting of material operational risk events. Assist with analysis and trends related to KRIs and operational loss data. Support risk reporting to the Operational Risk Committee (ORC), the Risk Management & Internal Control Committee (RMICC) and the Board (USRMC); ensure risk management practices are consistent with the bank’s Risk Governance Framework and the Operational Risk Management Framework. Adhere to regulatory requirements and keep abreast of key regulatory guidance impacting operational risk, BOCUSA branches and custody activities; facilitate regulatory exams and internal/external audit reviews and promptly rectify any identified issues. Act as a trusted advisor to the first line custody operations team, providing SME on risk mitigation and control design; partner with Compliance, Legal, and other risk managers to ensure a coordinated approach; liaise with Operational Risk Management Framework Governance and Oversight team to facilitate training and awareness for custody operations staff on key operational risk concepts. Qualifications
Bachelor’s degree required. A minimum of 6 years of experience in the Banking industry and operational risk management, with product risk management and in-depth knowledge of custody services and operations for AVP level; a minimum of 7 years required for VP level. Knowledge of operational or enterprise risk management concepts, frameworks, methods, and good governance practices. Familiarity with third-party risk, business continuity and resilience relevant to custody operations. Understanding of OCC Heightened Standards and related regulatory guidance around operational risk management. Proficiency in Microsoft Excel, PowerPoint, and other reporting tools; experience with GRC tools preferred. Proficiency in Mandarin preferred. Pay Range
Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications. USD $65,000.00 - USD $230,000.00 /Yr.
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