What are the responsibilities and job description for the Operational Risk Management Department New Activities Risk Management/Issues Management VP position at Bank of China Limited, New York Branch?
Introduction
Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.
Overview
The VP will manage and execute the following Branch-wide operational risk programs in accordance with Heightened Standard using a guideline such as COSO: Operational Risk Issues management, and New Activities Risk Management.
Responsibilities
Include but are not limited to:
Program Execution
- Develop, execute and enhance of the following Branch-wide operational risk programs: Operational Risk Issues management and New Activities Risk Management
- Ensure the effective implementation of the Branch’s operational risk programs through training, awareness and monitoring
- Promote sound operational risk culture across the Branch by supporting and providing oversight to the first line of defense through various operational risk management programs
- Ensure a timely and efficient remediation plan is developed for operational risk management framework issues, and oversee the implementation of rectification
- Support with the execution of the RCSA program as an Operational Risk Issues management and New Activities Risk Management subject matter expert
Management
- Provide training, feedback and professional development opportunities to all team members
- Execute and ensure adherence to all policies and procedures impacting Operational Risk Management
- Support with the execution of department strategic objectives
Reporting
- Aggregate operational risk profile utilizing the appropriate methodology
- Ensure ongoing communication of risk initiatives to the relevant committees
- Respond to regulatory inquiries related to operational risk management
Qualifications
- Bachelor’s degree is required for this position
- 8 years of experience in the Banking industry and 5 years in operational risk management
- 5 years of work experience in a supervisory function
- Knowledge of operational or enterprise risk management concepts, framework, methods, and good governance practices
- CFA/CPA/FRM/MBA preferred
Pay Range
Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.
USD $110,000.00 - USD $230,000.00 /Yr.Salary : $230,000
