Vice President - Head of BP2S Quality Assurance & 2 - LOD Control Testing

11 - 15 years experience  •  Financial Services

Salary depends on experience
Posted on 09/22/17
New York, NY
11 - 15 years experience
Financial Services
Salary depends on experience
Posted on 09/22/17

Business Overview:

The mission of RISK ORC is to oversee the effective and efficient functioning of the permanent control framework implemented by Business Lines and Functions, and the measurement and management of operational risks.

    RISK ORC serves in an independent oversight capacity as the 2nd line of defense, ensuring that the 1st line of defense (under the responsibility of Operational Permanent Control management), is fulfilling its objectives and requirements.
    RISK ORC’s scope covers the corporate and institutional banking activities within North America, and the supporting operational units and transversal functions.


This is a role within the Business aligned Quality Assurance and Control Testing Team performing independent risk assessment and control testing of both the business lines and functions supporting those businesses.  The successful candidate will be required to perform various functions within the defined Operational Permanent Control framework, including:

    Oversight over the Risk Control Self-Assessment (RCSA) framework including coordination of roll out, training, identification of Gaps to policy, review of remediation action plans and effective challenge of the process.
    In collaboration with the 1 LOD. The definition, determination and effective challenge of the scope of KRI/KPI (Key Risk Indicators/Key Performance) to be reported/monitored across all BP2S GBL and functions to facilitate control monitoring
    Independent assessment and effective challenge of control plans in order to identify gaps to policy, to ensure sound control design and effectiveness and ensure effective design and follow up of remediation plans.
    Perform quality control and validation of Operational Loss Incidents including remediation plan effectiveness and implementation.
    Tracking and reporting of Audit findings to monitor timely resolution.
    Take a critical approach to risk assessment to differentiate between significant and less significant requirement.
    Execution of Key Risk based design and effectiveness control testing plans based on both process and policy design methodologies.  Publication of recommendations and action plan follow up.
    Establish key relationships across departments and territories covering CIB Americas.
    Partner with Second Line of Defense areas (Legal, Compliance, and Finance) to develop synergies and minimize duplication of work on inter-related work streams.
    Lead and actively participate in operational risk meetings to stay informed of all new initiatives that will affect the Testing and QA Team team and communicate these initiatives to the team.
    Keep informed of new and amended legal, regulatory, and operational and market practices and communicate any pertinent information to the team and to the RISK ORC Americas department in general
    Evaluate new products and report on if/how the product or activity affects the liquidity of the IHC and Operational Risk in general.

Minimum Qualifications:

    Bachelor’s Degree in Audit, Risk or another financial Industry related field.
    10 or more years of experience working in banking or another financial institution setting with a focus on Operational Risk management and reporting or auditing/control assessment and testing.

Preferred Qualifications:

    MBA a plus.
    General knowledge of financial markets operating environment with expertise in at least one specific product line (fixed income, equities, commodities, treasuries/money markets) or discipline such as Third Party Vendor Management, Information/Cyber Security, Fraud detection or other support functions.
    Knowledge or previous engagement with various control-related regulatory frameworks (SOX, SEA 17a-5) or other internal control standards (ex. COSO 2013) is a plus.
    Knowledge of securities and or commodities regulations or corporate governance practices a plus.
    Excellent verbal and written communication skills required for active interaction with business line and/or functional management.
    Strong analytical and organizational skills.  Ability to conceptualize issues and translate into solutions.
    Proficiency in Microsoft Office suite (Word, Excel, PowerPoint)

FINRA Registration:

    Not Applicable



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