Operational Risk Manager

The Bank Of New York Mellon ,
London, Greater London
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Overview

Job Description

Operational Risk Manager - VP Job Number: 2003626 For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments & safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: bnymellon.com/careers. Risk and Compliance provide risk and compliance services across all BNY Mellon businesses. Organizationally, Risk and Compliance includes the following groups: Risk Management, Compliance, Global Corporate Security, Information Risk Management and Global Business Continuity. Risk Management oversees and delivers risk services and ensures new business risks are reviewed and approved. Risk Management is organized through Chief Risk Offices for each core business and critical operation. Risk managers provide shared support to BNY Mellon for operational risk services for Global Corporate Trust, Depositary Receipts, Treasury Services and Global Operations in EMEA. Compliance helps ensure BNY Mellon's businesses maintain appropriate processes to comply with applicable laws, regulations, BNY Mellon policies and ethics. This is accomplished through business- and business partner-specific teams of professionals, under centralized global management. Description Team Description: Reporting to the Senior Risk Manager for EMEA covering the following business lines of Markets, Corporate Treasury, Clearance and Collateral Management and Treasury Services. You will be part of a global team of risk professionals supporting the above businesses within EMEA. This position will require regular communication and collaboration with the wider Risk teams across other Legal Entities and geographies, as well as with Senior Managers in Operations, Internal Control, Credit / Market Risks, Treasury, Compliance, Finance, Audit and Legal teams. Job Purpose: * To ensure the Banks' Operational Risk Management Framework is applied consistently throughout the EMEA business lines as above * To provide business management and other Bank groups with independent guidance, oversight and challenge on all aspects of Operational Risk and governance. * To ensure material emerging and top risks are identified, discussed and escalated if necessary within the EMEA and Global Governance Frameworks as well as through to the other Senior Risk Managers. Responsibilities: (Key parts to the job role) * Work closely with line of business management in order to understand their business and what concerns they may have. * To identify each businesses' risk issues, and to be proactive in promoting possible solutions to manage any residual risks. * Identify material operational risks, assess the effectiveness of control design, changes and ensure that any control gaps identified are managed until closed within a timely basis. * Develop and implement standards and policies appropriate for the business that conform to the principles and policies established by Risk Management. * Participate in, or lead, cross-functional initiatives designed to assess and mitigate risk. * Elevate, report and investigate errors, losses and near misses, identifying the root causes and overseeing the implementation of corrective actions. * Work with the line of business to ensure that all Risk Events are comprehensively captured within the Risk Management Platform, linked to the relevant G/L postings, and closed in a timely manner. * Analyse data and errors to identify emerging risks, related to new products or significant business process changes and propose effective solutions. * Review key risk indicators for coverage and effectiveness, identifying root causes for red and/or amber conditions. * Ensure that processes, risks, and controls are continually reassessed for appropriateness and completeness. * Review and challenge new product and business change risk assessments and ensure they comply with policy and governance requirements (functionally and regionally) * Partner with the business on key change initiatives to understand the operational risk impact * Attend business, risk and governance committees relating to the EMEA business lines above as required by the Senior Risk Manager covering the wider business functions and legal entities. This includes

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