MUFG
Markets & Trading Operational Risk, Vice President
The selected colleague will work at an MUFG office or client sites four days per week and work remotely one day. A member of our recruitment team will provide more details. Job Summary:
The VP of Markets and Trading Operational Risk Management reports directly to the Head of Markets and Trading Operational Risk Management. The Operational Risk Management department is responsible for the management of the operational risk framework and standards, aggregate risk assessments and risk appetite. This position assists the Head of the Department with the development and maintenance of an enterprise wide second line Markets and Trading framework. The individual in this position has oversight responsibility for first line of defense markets and trading operational risk activities.
Responsibilities
Contributing to the development of the markets and trading operational risk management framework, standards and methodology, and providing updates on a periodic basis in line with the changing risk profile.
Provide guidance to first line, second line, and enterprise support units on the effective execution of the Operational Risk framework, including: new activity assessments, operational risk/loss events, scenario analysis, risk and control self-assessments (RCSA), and emerging risk identification.
Participating in Review and Challenge to provide ongoing independent SME review and challenge for First Line of Defense (FLOD) markets and trading operational risk activities and compliance with the Markets and Trading Risk Framework and risk policies.
Manage Operational Incidents process and report within firm guidelines, inclusive of remediation, tracking and reporting. Work with enterprise personnel to understand the root cause of incidents, to assess incident response and remediation efforts, and manage tracking and reporting.
Perform quality review on reported incidents as needed and ensure all required reporting components are effectively captured (i.e. taxonomy, impact type, complete description details, root cause, etc.) Establish the necessary markets and trading framework and standards so that aggregate risks within the company are effectively identified, measured, monitored and controlled consistent with the bank’s risk appetite.
Partner with markets and trading businesses and 2LoD partners to incorporate 2LoD assessment(s) into full Operational Risk Framework (i.e. RCSA, Incident Management, KRMs, etc.) in order to identify strengths and weaknesses in the overall program to ensure a path of continuous improvement that supports better identification of operational risks and avoidance of errors, fines and losses, etc.
Develop tools, processes, and systems to independently identify and assess aggregate markets and trading risks, trends and emerging risks.
Manage the development, monitoring, and review of key risk metrics and assist management in the early identification of risk trends.
Support the design and development of the Bank’s KRM program, ensuring KRMs are correctly calibrated, and relevant.
Produce monthly reporting, including relevant commentary and remediation actions. Ensure ongoing assessment of KRMs is undertaken and annual review requirements are met.
Provide aggregate enterprise-wide markets and trading operational risk reporting for management and the applicable risk committees.
Ensure material markets and trading operational risks and events are escalated to management and relevant committees.
Perform ongoing monitoring of markets and trading operational key risk metrics.
Oversee the production of key reporting activities and drive the execution on monthly and quarterly risk reporting and board reporting packages.
Provide ORM coordination with the various legal entities; serve as an operational risk central point of contact; represent Operational Risk at entity-level operational risk committees.
Qualifications
Typically have 7+ years of experience in Operational Risk, Internal or External Audit within a dynamic international financial institution or financial services firm.
Requires extensive knowledge of markets and trading operations from both process and technology perspectives.
Excellent skills in markets and trading risk assessment analysis, identifying trends and signs of changing risk levels.
Analytical mindset to make sound recommendations into operational risk issues; tenacious and agile, with ability to sustain high performance in a fast-paced, output-focused environment.
Strong team player who is comfortable working collaboratively and independently to look ahead, anticipate, challenge and manage obstacles.
Ability to grasp abstract concepts and complex situations; lateral thinker with problem-solving and consulting skills.
Enjoy working both independently and collaboratively within a global matrixed organization with strong communication skills.
BA or BS degree required.
Ability to build collaborative and productive working relationships with business teams and others across all functions.
Team player who can excel in a fast-paced, challenging environment with a strong desire to continuously improve and learn.
Excellent communications skills, both oral and written, with experience presenting to senior level management.
Experience interfacing with banking/financial services industry regulators.
The typical base pay range for this role is between $124K - $162K depending on job-related knowledge, skills, experience, and location. This role may also be eligible for certain discretionary performance-based bonus and/or incentive compensation. Additionally, our Total Rewards program provides colleagues with a competitive benefits package (in accordance with the eligibility requirements and respective terms of each) that includes comprehensive health and wellness benefits, retirement plans, educational assistance and training programs, income replacement for qualified employees with disabilities, paid maternity and parental bonding leave, and paid vacation, sick days, and holidays. For more information on our Total Rewards package, please click the link below.
MUFG Benefits Summary
We will consider for employment all qualified applicants, including those with criminal histories, in a manner consistent with the requirements of applicable state and local laws to the extent that (a) an applicant is not subject to a statutory disqualification and (b) they do not conflict with the background screening requirements of FINRA and the NFA.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.
We are proud to be an Equal Opportunity Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate on the basis of race, color, national origin, religion, gender identity, sex, age, or any other status protected by applicable law.
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The selected colleague will work at an MUFG office or client sites four days per week and work remotely one day. A member of our recruitment team will provide more details. Job Summary:
The VP of Markets and Trading Operational Risk Management reports directly to the Head of Markets and Trading Operational Risk Management. The Operational Risk Management department is responsible for the management of the operational risk framework and standards, aggregate risk assessments and risk appetite. This position assists the Head of the Department with the development and maintenance of an enterprise wide second line Markets and Trading framework. The individual in this position has oversight responsibility for first line of defense markets and trading operational risk activities.
Responsibilities
Contributing to the development of the markets and trading operational risk management framework, standards and methodology, and providing updates on a periodic basis in line with the changing risk profile.
Provide guidance to first line, second line, and enterprise support units on the effective execution of the Operational Risk framework, including: new activity assessments, operational risk/loss events, scenario analysis, risk and control self-assessments (RCSA), and emerging risk identification.
Participating in Review and Challenge to provide ongoing independent SME review and challenge for First Line of Defense (FLOD) markets and trading operational risk activities and compliance with the Markets and Trading Risk Framework and risk policies.
Manage Operational Incidents process and report within firm guidelines, inclusive of remediation, tracking and reporting. Work with enterprise personnel to understand the root cause of incidents, to assess incident response and remediation efforts, and manage tracking and reporting.
Perform quality review on reported incidents as needed and ensure all required reporting components are effectively captured (i.e. taxonomy, impact type, complete description details, root cause, etc.) Establish the necessary markets and trading framework and standards so that aggregate risks within the company are effectively identified, measured, monitored and controlled consistent with the bank’s risk appetite.
Partner with markets and trading businesses and 2LoD partners to incorporate 2LoD assessment(s) into full Operational Risk Framework (i.e. RCSA, Incident Management, KRMs, etc.) in order to identify strengths and weaknesses in the overall program to ensure a path of continuous improvement that supports better identification of operational risks and avoidance of errors, fines and losses, etc.
Develop tools, processes, and systems to independently identify and assess aggregate markets and trading risks, trends and emerging risks.
Manage the development, monitoring, and review of key risk metrics and assist management in the early identification of risk trends.
Support the design and development of the Bank’s KRM program, ensuring KRMs are correctly calibrated, and relevant.
Produce monthly reporting, including relevant commentary and remediation actions. Ensure ongoing assessment of KRMs is undertaken and annual review requirements are met.
Provide aggregate enterprise-wide markets and trading operational risk reporting for management and the applicable risk committees.
Ensure material markets and trading operational risks and events are escalated to management and relevant committees.
Perform ongoing monitoring of markets and trading operational key risk metrics.
Oversee the production of key reporting activities and drive the execution on monthly and quarterly risk reporting and board reporting packages.
Provide ORM coordination with the various legal entities; serve as an operational risk central point of contact; represent Operational Risk at entity-level operational risk committees.
Qualifications
Typically have 7+ years of experience in Operational Risk, Internal or External Audit within a dynamic international financial institution or financial services firm.
Requires extensive knowledge of markets and trading operations from both process and technology perspectives.
Excellent skills in markets and trading risk assessment analysis, identifying trends and signs of changing risk levels.
Analytical mindset to make sound recommendations into operational risk issues; tenacious and agile, with ability to sustain high performance in a fast-paced, output-focused environment.
Strong team player who is comfortable working collaboratively and independently to look ahead, anticipate, challenge and manage obstacles.
Ability to grasp abstract concepts and complex situations; lateral thinker with problem-solving and consulting skills.
Enjoy working both independently and collaboratively within a global matrixed organization with strong communication skills.
BA or BS degree required.
Ability to build collaborative and productive working relationships with business teams and others across all functions.
Team player who can excel in a fast-paced, challenging environment with a strong desire to continuously improve and learn.
Excellent communications skills, both oral and written, with experience presenting to senior level management.
Experience interfacing with banking/financial services industry regulators.
The typical base pay range for this role is between $124K - $162K depending on job-related knowledge, skills, experience, and location. This role may also be eligible for certain discretionary performance-based bonus and/or incentive compensation. Additionally, our Total Rewards program provides colleagues with a competitive benefits package (in accordance with the eligibility requirements and respective terms of each) that includes comprehensive health and wellness benefits, retirement plans, educational assistance and training programs, income replacement for qualified employees with disabilities, paid maternity and parental bonding leave, and paid vacation, sick days, and holidays. For more information on our Total Rewards package, please click the link below.
MUFG Benefits Summary
We will consider for employment all qualified applicants, including those with criminal histories, in a manner consistent with the requirements of applicable state and local laws to the extent that (a) an applicant is not subject to a statutory disqualification and (b) they do not conflict with the background screening requirements of FINRA and the NFA.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified.
We are proud to be an Equal Opportunity Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate on the basis of race, color, national origin, religion, gender identity, sex, age, or any other status protected by applicable law.
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