Vice President, Operational Risk (34341)

Mitsubishi UFJ Securities (USA) ,
London, Greater London
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Overview

Job Description

OVERVIEW OF THE DEPARTMENT/SECTION We are MUFG. 360 years of heritage. A world-class set of businesses. And more than 180,000 employees in 50 markets. It's no surprise that MUFG has grown to become one of the top five banks in the world. Our services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. MUFG offers stability in an ever-changing market, providing services to high-profile clients worldwide. Our vision? To become the world's most trusted financial group. You'll help us achieve it. The Operational Risk Department is part of the firm's Risk Management function and provides second line Operational Risk oversight for the firm's front office and support / control functions. NUMBER OF DIRECT REPORTS None MAIN PURPOSE OF THE ROLE Lead the implementation of the Operational Risk framework, contribute to the development of the Operational Risk Management function and the delivery across the EMEA region in line with regulatory requirements to support the achievement of the Bank's strategic objectives. KEY RESPONSIBILITIES MUFG Bank * Active participation in, and development of, the operational risk framework across EMEA. * Participate in the delivery of the operational risk system implementation. * Support and contribute to the development and delivery of the medium to long term objectives/actions within the operational risk framework. * Provide a robust second Line of Defence challenge to ensure the wider effective identification and management of operational risk and control weaknesses by the business, support functions and the EMEA offices. * Provide operational risk subject matter expertise, and monitor and communicate the operational risk environment to management, and other key stakeholders. * Build and maintain close and continuous relationships with key individuals within the business and support functions, and ensure their control weaknesses and concerns are addressed proactively. * Ensure the business and support functions understand the operational risk framework and tools to identify, assess, manage and report their operational risks. * Challenge the business and support functions to provide evidence that they are identifying, assessing, managing and reporting their operational risk appropriately. * When required, supervise more junior members of the team in second line oversight, business-as-usual (BAU) activities and change initiatives. * Support initiatives to strengthen the governance and develop a robust reporting mechanism for the business incorporating appropriate escalations as required. * Ensure compliance with organisation's governance policies and procedures. * Evaluate the Operational Risks of New Products / Change Projects. * Assist in creation and maintenance of a good 3LoD model and embedding the risk culture across London and EMEA offices. * Provide independent assessment and monitoring of MUFG's Operational Risk profile, through: * Incident management and post incident reviews; * Weekly review of KRIs and KCIs; * Tracking of progress issues and actions; * Monitoring of key controls; * Monthly reporting to senior governance committees; * Quarterly root cause analysis; * Review and monitoring Risk and Control Self-Assessments Regulatory compliance, affairs and change: * Comply with, and ensure that all staff under your responsibility (where applicable) comply with, the entities' policies and procedures as well as all rules, laws and regulatory requirements emanating from any of the regulatory authorities to which the entities are subject. * Remain up to date with regulatory changes; ensure that changes are well understood and plans are developed for implementation as appropriate. WORK EXPERIENCE Essential: * Excellent knowledge and experience of operational risk management and its application within the Financial Services. * Experience in undertaking front to back RCSAs, Risk Acceptance, Issues & Actions and Incident Management. * Proven ability to understand, identify, analyse and communicate clearly the operational risks within processes. * Proven experience in applying legal/regulatory guidance into solving practical problems. * Solid technical and functional knowledge of financial services internal rules and policies. * Ability to facilitate smooth communications between London, HO and EMEA offices. * Experience in Thematic Reviews, Controls Testing & Assurance, Product Governance and delivery of training. Preferred: * Experience of working with banking products such as Corporate, Investment, Transaction Banking and Global Markets. * Good understanding of the overall operational processes within the financial services industry. * SKILLS AND EXPERIENCE Functional / Technical Competencies: Essential * Hands-on experience of effective Operational Risk Management * Good knowledge Banking products and front-to-back processes * Strong analytical and writing skills Preferred: * Some experience/knowledge of Regulatory

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