What are the responsibilities and job description for the Operational Risk Management-Operational Risk Governance SVP position at Bank of China?
Introduction:
: USD $110,000.00 - USD $230,000.00 /Yr.
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 position is responsible for performing the Operational Risk (OR) Framework management. The purpose of this job specifically includes managing the OR framework, policy and procedure, while also analyzing and consolidating operational risk data from teams and generating Branch-wide operational risk management reports to the Head Office.
Responsibilities:
Include but are not limited to:
ORMF Governance & Oversight
- Develop and implement the ORMF in alignment with business strategy, overall enterprise risk management (ERM), regulatory requirements, and best practices suited for the size and complexity of the bank
- Drive a strong risk culture across the bank, promoting awareness and ownership of operational risks
- Oversee the integration of ORMF in all operational risk types and programs
- Help establish and maintain robust governance structures to monitor and report operational risks
- Develop and oversee key risk indicators (KRIs) and dashboards to monitor the bank’s operational risk profile
- Acting as the Secretary of the Operational Risk Committee (ORC) to ensure operational risk profile is appropriately reported and risks are escalated and addresses
- Maintain awareness of regulatory changes and ensure timely updates to policies and procedures
- Act as the primary liaison for regulatory exams, internal and external audits for operational risk-related matters
Operational Risk Management
- Execute and ensure adherence to policies and procedures impacting Operational Risk Management
- Oversee the adherence to Branch policies and procedures from operational risk management perspective and provide feedback
- Support with the execution of department strategic objectives in collaboration with L2 operational risk type IRMs/SMEs
Risk aggregation and Reporting
- Develop comprehensive risk reports catered for senior management, the board, and relevant stakeholders
- Provide guidance and collect operational risk related data from relevant stakeholders, including both L2 IRM/SME owners and FLUs
- Establish process to ensure risk data accuracy for aggregation and reporting, leverage data analytics and operational risk systems/tools
- Consolidate the data and complete risk aggregation and reporting to all executive committees
- Collaborate with different departments to prepare Operational Risk supporting Head Office reporting (e.g., for HO ERM report and ORM report)
Staffing & Training
- Facilitate the staffing and skills assessment to ensure the bank has sufficient and qualified resources to support and sustain the effective execution and reporting of ORMF across the bank
- Develop and drive the bank-wide operational risk management framework related training and provide input to other operational risk relevant training (e.g., RCSA) to ensure a comprehensive overall training plan
- Lead and drive training both for the team and stakeholders across the bank sufficient to sustain the programs and processes
- Hire, coach, develop staff supporting the ORMF Framework, Governance and related processes and provide performance feedback
- Bachelor’s degree is required for this position
- A minimum of 10 years of experience in the Banking industry and risk management
- A minimum of 3 years of experience in risk management
- Knowledge of operational or enterprise risk management concepts, framework, methods, and good governance practices
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
