Principal - Operational Risk Officer

Overview Of BNY Mellon:

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of March 31, 2021, BNY Mellon had $41.7 trillion in assets under custody and/or administration, and $2.2 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

Reporting to Senior Operational Risk Management, the Operational Risk Officer  (ORO) will be part of a global team within the  2nd line of defence with oversight of Custody, Client Services and Global Payments and Treasury Services primarily in the UK but also as needed across EMEA.

Responsibilities

• The ORO will ensure Risk Management oversight of the business risk framework, notably;  Risk & Control Self Assessments, Key Risk Indicators, Operational Risk Events and Business Process Change risk assessments,
• The provision of advice  and guidance will be provided to the Line of business, including the evaluation of existing processes and the ORO should be able to call on  a high level of knowledge of associated risks to direct the business line's activities to address control gaps.
• Directs the 1st line of defence’s  compliance with the Operational Risk Management Framework by identifying, assessing and mitigating risks, identifying emerging issues, contributing to the development of processes and controls to manage risks, monitoring the adequacy and effectiveness of the control environment, remediating deficiencies, monitoring and challenging business activities and enforcing business line awareness of and adherence to the risk management framework.
• Recommends modifications to reduce implementation risk and uses strong influence with business line management to ensure compliance, risk and control documentation and notification of all appropriate representatives and regulators.
• Responsible for appropriately escalating issues to the Risk and Compliance management team.
• Ensures that all challenge and issues raised are suitably evidenced and recorded
• Provides reporting on outputs of risk management activities completed, including thematic reviews and independent assessments, suitable for Executive Management
• No direct reports, but will provide guidance to junior team members and may assign tasks, as needed.

Competencies & Experience

• Strong familiarity with Custody and Cash products and operations to anticipate, assess, monitor and report on operational risks. Understanding of settlements, corporate actions, trade capture and income processing in US and global markets.
• An understanding of the Operational Risk Framework and associated risk tools, eg RCSAs, KRIs.
• Able to develop and establish collaborative working relationships with colleagues in both 1st and 2nd lines of defence to ensure timely completion of risk-related deliverables, issue resolution and implementation of improvements.
• Good interpersonal and communication skills, with the ability to interact effectively with both senior leaders and across all levels of the organization
• An understanding of client asset safety regulations and principles
• Strong analytical skills and ability to learn and assimilate new information quickly.
• Extensive relevant work experience.
• Bachelor‘s degree or the equivalent combination of education and experience is required.