Bank of China USA
Enterprise Risk Management - Wholesale Payments Risk Management (WPRM) AVP
Bank of China USA, New York, New York, us, 10261
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Enterprise Risk Management - Wholesale Payments Risk Management (WPRM) AVP
role at
Bank of China USA .
3 months ago – Be among the first 25 applicants.
Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long‑term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.
Overview Bank of China New York (“BOCNY” or the Bank) Enterprise Risk Management Department (“ERM”) is responsible for managing the Bank’s enterprise risk as a function of second line of defense according to the Bank’s risk governance framework. The AVP will manage the Wholesale Payments (WP) risk in executing and overseeing the WP risk management in Settlement and Custody, oversighting the front business units’ WP risk management, and ensuring the Bank’s risk exposure within risk appetite, and protect the Bank with safe and sound risk management.
Responsibilities Risk Governance
Administrator of the WP Risk Committee
WP project management office for the department
Build strong governance in WP risk management
Management of internal audit and regulatory matters
Program Execution
Develop, execute and enhance branch‑wide WP risk management
Review, update and maintain all WP related policies and procedures
Execute WP risk management processes to identify, measure, monitor, manage and report risks
Ensure effective implementation of the branch’s WP risk management through training, awareness and monitoring
Promote sound WP risk culture across the branch by supporting and providing oversight to the first line of defense through various WP risk management activities
Review and challenge WP risk assessments conducted by both FLUs and IRM
Develop WP risk reports and provide recommendations to remediate identified deficiencies
Ensure timely and efficient remediation plan is developed for WP risk management issues, and oversee implementation of rectification
Implement and ensure execution of the exception management process
Risk Analysis and Reporting
Aggregate WP risk profile utilizing appropriate methodology
Ensure ongoing communication of risk initiatives to relevant committees
Respond to regulatory inquiries related to WP risk management
Management
Provide training, feedback and professional development opportunities to team members
Execute and ensure adherence to all policies and procedures impacting WP risk management
Ensure adherence to branch policies and procedures
Support execution of department strategic objectives
Qualifications
Bachelor’s degree required; master’s degree preferred
Minimum 5 years of banking work experience
Minimum 5 years of risk management experience
Minimum 3 years of wholesale payments or custody experience
CFA/CPA/FRM/MBA/PMP preferred but not required
Bilingual ability in English and Chinese preferred
Demonstrate regulatory and compliance knowledge and financial/banking industry and business line knowledge
Demonstrate knowledge in operational and/or WP risk management framework
Pay Range Actual salary is commensurate with candidate’s relevant years of experience, skillset, education, and other qualifications. USD $65,000.00 – USD $150,000.00 per year.
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Enterprise Risk Management - Wholesale Payments Risk Management (WPRM) AVP
role at
Bank of China USA .
3 months ago – Be among the first 25 applicants.
Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long‑term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.
Overview Bank of China New York (“BOCNY” or the Bank) Enterprise Risk Management Department (“ERM”) is responsible for managing the Bank’s enterprise risk as a function of second line of defense according to the Bank’s risk governance framework. The AVP will manage the Wholesale Payments (WP) risk in executing and overseeing the WP risk management in Settlement and Custody, oversighting the front business units’ WP risk management, and ensuring the Bank’s risk exposure within risk appetite, and protect the Bank with safe and sound risk management.
Responsibilities Risk Governance
Administrator of the WP Risk Committee
WP project management office for the department
Build strong governance in WP risk management
Management of internal audit and regulatory matters
Program Execution
Develop, execute and enhance branch‑wide WP risk management
Review, update and maintain all WP related policies and procedures
Execute WP risk management processes to identify, measure, monitor, manage and report risks
Ensure effective implementation of the branch’s WP risk management through training, awareness and monitoring
Promote sound WP risk culture across the branch by supporting and providing oversight to the first line of defense through various WP risk management activities
Review and challenge WP risk assessments conducted by both FLUs and IRM
Develop WP risk reports and provide recommendations to remediate identified deficiencies
Ensure timely and efficient remediation plan is developed for WP risk management issues, and oversee implementation of rectification
Implement and ensure execution of the exception management process
Risk Analysis and Reporting
Aggregate WP risk profile utilizing appropriate methodology
Ensure ongoing communication of risk initiatives to relevant committees
Respond to regulatory inquiries related to WP risk management
Management
Provide training, feedback and professional development opportunities to team members
Execute and ensure adherence to all policies and procedures impacting WP risk management
Ensure adherence to branch policies and procedures
Support execution of department strategic objectives
Qualifications
Bachelor’s degree required; master’s degree preferred
Minimum 5 years of banking work experience
Minimum 5 years of risk management experience
Minimum 3 years of wholesale payments or custody experience
CFA/CPA/FRM/MBA/PMP preferred but not required
Bilingual ability in English and Chinese preferred
Demonstrate regulatory and compliance knowledge and financial/banking industry and business line knowledge
Demonstrate knowledge in operational and/or WP risk management framework
Pay Range Actual salary is commensurate with candidate’s relevant years of experience, skillset, education, and other qualifications. USD $65,000.00 – USD $150,000.00 per year.
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