Vice President, Operational Risk - Finance

Job purpose - major duties and responsibilities of the job

This position is to support the Operational Risk team by being responsible for coverage of the Finance business unit from a 2LOD operational risk perspective ideally with subject-matter-expert (SME) knowledge of finance/accounting topics. An Operational Risk Manager is expected to work independently with his/her stakeholders to drive, guide and partner with them to facilitate implementation of the operational risk framework and deliverables while maintaining communication and engagement with the Head of ORM Coverage and broader Operational Risk Management team.

The primary role of the individual is focused on the following:

• Support refinements of ORM and ERM framework by educating and engaging with stakeholders to implement the framework
• Assist Finance subject matter experts/stakeholders with capture and documentation of risk events and/or issues while ensuring they are documented as per Risk Framework and providing robust 2^nd Line of Defense review and challenge across the CLS Risk Taxonomy in all components of the ORM Framework
• Work with Finance stakeholders to facilitate the completion of business risk-self assessments and targeted operational risk assessment, focusing on independent review and challenge
• Support Finance stakeholders by ensuring risk and control inventory is articulated in accordance with Risk Framework
• Review/challene Design and Operating Effectiveness testing of Finance key controls
• Perform root cause analyses of identified risk events to recommend improvements to prevent risk events from re-occurring in future.
• Analyze and identify trends in the Key Risk Indicators, Incidents and Issues Management reported to Risk Management.
• Facilitate identification and articulation of Issues and related Corrective Action Plans and review and challenge the quality and completeness of evidence submitted by Finance stakeholders to address/close an issue or Action Plan
• Work with Finance stakeholders to address Quality Assurance (“QA”) fails for risks, controls and issues – advising how to address the failures so Risk Management Framework is adhered to and supporting that documentation
• Driving and instilling a good Risk Culture with stakeholders
• Actively participating in relevant governance fora (i.e., the Operational Risk Council)
• Manage stakeholders at all levels of the corporation

            Strategic

• Monitor Framework adherence and develop tools/communicate requirements to key stakeholders to ensure adherence with ORM risk policies, procedures and best practices
• Interface with key stakeholders and Senior Management Committees
• Partner with area subject matter experts and executive management to ensure appropriate ORM governance
• Identify and appropriately escalate operational risks that exceed risk appetite.
• Identify opportunities for process improvements to deliver increasing operational efficiencies
• Participate as part of business project workstreams to provide ORM subject matter expertise and guidance (process maps)

Operational

• Works with business units to establish, maintain and continuously improve risk management capabilities across CLS.
• Facilitates and participates in enterprise-wide risk assessments and recommendations.
• Conducts risk management education and training as appropriate.
  • Collaborate with business units to minimize operational issues emanating from CLS

            Leadership

• Act as stakeholders’ main point of contact representing ORM – creating opportunities to provide education related to ORM topics and “lead by example” (i.e., timely resolution of items that need to be addressed, providing suggested solutions/guidance when required/appropriate, taking initiative to manage required deliverables and stakeholder resources/capacity)

Knowledge, skills and abilities - competencies required for successful job performance

In order to carry out the duties of the position effectively, the individual will need to possess the following attributes:

• Judgement and decision making
• Communication & Influence
• Teamwork & Professionalism
• Able to work independently, as required

            Qualifications / certifications

• Background/subject-matter-expert (SME) of both compliance topics and financial crime/anti-money laundering subjects (able to articulate anticipated areas of risk, knowledge of industry practice/standards of regulatory compliance and anti-financial crime/anti-money laundering mitigation, processes and practices)
• Experience in MS Office suite, including Excel, Word, Powerpoint and Visio, RSA Archer, Reporting Platform including PowerBi or Tableau
• Minimum 10 years of relevant work experience