Wealth Markets Risk Manager, Vice President

MUFG   •  

Tempe, AZ

Industry: Accounting, Finance & Insurance


5 - 7 years

Posted 88 days ago

This job is no longer available.

Job Summary:

Reporting to the Business Unit Risk Manager (BURM) of the Wealth Markets (WM) division of the MUFG Union Bank, N.A. (MUB), WM’s Division Risk Managers (DRMs) are the first line of defense responsible for supporting and coordinating the application of MUB’s operational risk management framework within assigned WM business units. This includes both business-specific risks and enterprise-wide horizontal risks. Horizontal risks include but are not limited to: information security, human resources, fraud, vendor management, business continuity, regulatory compliance, product risk and model validation. The DRM will serve as back up to the BURM and be the focal point of contact concerning matters of operational risk applicable to the assigned WM business units. The DRM will assist the BURM in completion of Risk and Control evaluations for their assigned WM business units and manage remediation activities for control deficiencies. 

Major Responsibilities:

BURM and Management Support

  • Provide business unit managers and the BURM with objective perspective on the operational risk profiles of assigned business units. Act as a trusted advisor on operational risk issues, including identification of risks associated with business unit projects, ongoing business processes, and emerging risks. 
  • Assist management in identification and documentation of risk issues and development of corresponding corrective actions. Keep apprised of ongoing audits, regulatory examinations, and compliance controls tests and assist management in addressing inquiries and resulting findings. Function as a liaison with Internal Audit and Corporate Compliance on behalf of assigned business units in consultation with the BURM. 
  • Monitor and assess operational risk management activities and identify emerging risks through attendance of management and committee meetings and ad hoc working groups. Provide input to management committees and produce risk related committee reports, as requested. 
  • Identify risk trends and/or symptoms of process control breakdowns. Keep the BURM apprised of changes in inherent risk or control breakdowns/deficiencies that could impact residual risk. 
  • As requested, review MUB and business unit policies and procedures and ensure input from appropriate subject matter experts is considered. 
  • Assist BURM and management in root cause analysis and corrective actions on operational losses. Assist BURM and management in the identification of new and assessment of existing Risk Appetite Statement Key Risk Metrics (KRMs) and business process KRMs. Assist management in setting or updating KRM triggers and thresholds consistent with management’s risk tolerance.

Risk and Control Self Assessments (RCSA)

  • Build and maintain RCSAs for significant business processes, including development of process flows as source documents. Document/update inherent risk rating rationales using available factors (e.g. transaction size, number of accounts, complexity, external loss data, etc.). 
  • Assess controls design adequacy, considering controls in place and other available factors (e.g. internal loss data, known issues, performance of Key Risk Metrics). 
  • Assign control effectiveness ratings using available evidence, namely control testing results. Monitor control testing activities and assist management in adherence with controls testing requirements.


Additional Information:

  • Typically requires a BA or BS degree.
  • 5+ years experience in operations management within a financial institution.
  • Excellent skills in risk assessment analysis and a solid understanding of business and financial markets.
  • Strong knowledge of the inherent risk in the business line.
  • Strong management skills, excellent communication skills, both oral and written and an ability to interact with all levels of management.
  • Ability to analyze risk trends, identifying signs of changing risk levels.

Requisition #: 10022563-WD