SVP - Operational Risk Audit

New York City, New York
$150,000 - $180,000
29 Sep 2016
29 Oct 2016
Contract Type
Full Time
0-25% Travel, None

Role Overview:

The Operational Risk Audit SVP is responsible for the developing to the highest industry standards a risk-based and global audit plan in the US, covering:

  • Operational Risk including the 3 Lines of Defence transformation program
  • New Product/Transaction approval and ongoing lifecycle management
  • Reputational Risk management
  • Within the US, the Operational Risk Audit SVP is responsible for execution of the horizontal reviews on these topics as well as for tracking of sufficiency of coverage of these topics in business-aligned reviews as per the designed global coverage model.

The SVP will have a key role to play to act as a trusted partner and support not only the US Audit Risk team but also the Global Operational Risk Audit team and the Global Operational Risk Management function in their ongoing framework transformation.

Key responsibilities:

Risk identification and assessment: Support the US Risk and ORM Directors in providing subject matter expertise to identify and assess operational risks throughout DB, providing quarterly analysis to GA management and the product-aligned teams to inform them on evolution of key operational risk developments. In addition, he/she will be conducting periodic reviews of adequate reflection of these risks in the Business aligned Risk Assessment Profiles. This requires strong ongoing business monitoring with key ORM and business teams as well as keeping abreast of pertinent industry, regulatory and business practices including through industry networks. Conduct periodic reviews of adequate reflection of these risks in the business aligned risk assessment profiles.

Audit coverage design: Support the US Risk Director and ORM Director in designing the coverage approach for Operational Risk, NPA/NTA and Reputational Risk globally including clarity of minimum testing to be conducted in business led reviews. Strong coordination with Business aligned teams as well as regional Risk & Financial reporting PAMs is required to drive a comprehensive coverage of key risk in the audit plan. Also responsible for recommending plan adjustments based on identification of emerging risks through ongoing risk monitoring.

Audit plan execution: Deliver Risk led reviews as well as contribution in business-aligned reviews for area of responsibility as per the coverage model.

Relationship management: Acting as GA’s relationship manager and primary point of contact for areas of responsibility, maintaining excellent and responsive working relationships with management, wider Group Audit team, regulators and external auditors.

You will have:

  • 8 years of experience of investment banking, in either a financial institution or a professional practice environment, with a strong expertise in Operational Risk Management and/or Product/Transaction management.
  • Strong understanding of risk management frameworks for the operational risks in a global banking control environment, with a sound knowledge of banking activities, including capital market products, risk management techniques and regulatory requirements.
  • Strong understanding of operational risk issues in a global Banking control environment.
  • Excellent analytical and communication skills, oral and written English, together with advanced presentation and interactive skills.
  • Direct experience as an auditor or understand the audit processes from prior roles in a control function.
  • Professional credentials including degree-level education and a relevant Risk or Accounting professional qualification

You will be:

  • Able to build strong relationships, successfully navigating a complex and multi-national organisation, and working collaboratively with management teams and with other control functions.
  • Able to convey complex concepts and ideas on issues requiring interpretation and opinion.
  • Strongly self-motivated.
  • Cost awareness to drive efficient management of resources to support audit plan delivery.
  • Effective in operating in a diverse team, appraising and developing own and team member’s abilities and potential.
  • Independent in judgment and with unquestionable personal integrity and ethic. Able to challenge and be challenged whilst maintaining the highest levels of professionalism.

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