Vanguard, one of the world’s largestinvestment management companies and a recognized employer of choice, seeks an OperationalRisk Manager to work in Vanguard’sRisk Management Group (RMG) providing strategic direction for globalrisk management programs in the Fixed Income Group (FIG) throughdesign and governance of operationalriskmanagement strategies.
Vanguard’s Risk Management Group (RMG) is an independent unit that makes risk management an integrated part of our investment process, dually focusing on comprehensive investment risk issues for Vanguard’s Fixed Income and EquityInvestment Groups, as well as ensuring a best-in-class operational control environment. This team provides transparency, oversight, and governance of exposure across Vanguard’s investment groups.
RMG covers virtually all areas of risk management, including investment risk, portfolio analysis, quantitative research, and operational and counterparty risk. They also partner with Vanguard’s Global Investment Shared Services team to manage risk for systems and data management. Among their responsibilities, RMG produces reports on adherence to prospectus limitations and internal guidelines. The RMG team is comprised of approximately 50 risk managers, quantitative researchers, financial analysts, and data experts. The Head of RMG reports directly to Vanguard’s Chief Investment Officer, and is a member of the senior team that sets investment strategy for Vanguard.
Duties and Responsibilities:
- Develops and directs initiatives aimed at improving and implementing global best practice operational risk strategies for the Investment Management Group. Following IMG’s operational risk framework, this includes establishing and supporting the development of strong risk assessment, change management practices, internal risk monitoring and reporting infrastructure, targeted reviews, controls assurance, and external monitoring programs. Ensures the program is compatible with VGI’s enterprise risk framework.
- Provides operational risk management leadership on technology projects impacting IMG and Vanguard as a whole to ensure high global standards of operational controls are designed into future-state business processes.
- Leads efforts on behalf of IMG Operational Risk team to guide governance and control design decisions from the operational risk perspective on company strategic initiatives both regionally and globally.
- Identifies leading operational risk indicators through alignment of metrics with risk and controls. Develops and maintains metrics to communicate the status of measures effectively. Embeds operational risk indicators in dashboards and reports for regional and global stakeholders.
- Conducts operational risk assessments, from a global perspective in targeted areas or processes. Works with business unit teams to mitigate risks and optimize processes. Uses knowledge to design effective controls and monitors key controls for operational effectiveness. Tracks internal events for root cause trends and identifies external events for lessons learned opportunities.
- Leads global upgrade and implementation of policies and procedures. Collaboration with global operational risk functions in all regions.
- Establishes and makes recommendations to maintain the framework for monitoring and analyzing risk processes ensuring the program is compatible with VGI’s enterprise risk framework.
- Provides global thought leadership around best practices and new/emerging concepts.
- Leads and/or participates in special projects and performs other duties as assigned.
- Undergraduatedegree (analytical major such as Business, Finance, Accounting, Economics, Computer Science/Engineering, Math or Statisticspreferred) or an equivalent combination of training and experience. Advanced degreepreferred.
- Minimum of five or more years of related and progressive work experience, including three years of related risk management and controls work experience.
- Experience in designing, building, and directing an operational risk, compliance, and controls program within a large, word-class financial institution.
- Knowledge across the disciplines related to risks in investment management (e.g., regulatory, counterparty, technology, and fraud risk) with core expertise in operational risk.
- Knowledge and experience with complex systems implementations, project management, and IT systems design processes.
- Well rounded understanding of the investment process, operations, and technology as well as audit and compliance. Should be attuned to the risk and compliance guidelines of the ’40 Act, Dodd-Frank, Sarbanes-Oxley and other regulatory programs.
- Sound business judgment and ability to apply practical thinking in weighing the potential for risk against risk related investments and decisions.
- Strategic and conceptual thinker with a practical orientation and ability to translate complex risk concepts into executable programs and to align risks with business objectives.
- Ability to mobilize, execute, and deliver.
- Strong communication and influence skills, ability to navigate, persuade and build buy-in across a matrix structure.