What are the responsibilities and job description for the Vice President II, Operational Risk Management - Corporate Trust position at BNY Mellon?
Overview
Vice President II, Operational Risk Management – Corporate Trust
At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000 employees bring the power of their perspective to the table to create solutions with our clients that benefit businesses, communities and people everywhere.
We continue to be a leader in the industry, awarded as a top home for innovators and for creating an inclusive workplace. Through our unique ideas and talents, together we help make money work for the world. This is what #LifeAtBNY is all about.
We’re seeking a future team member for the role of Vice President, Operational Risk to join our Corporate Trust team. This role can be located in Pittsburgh, PA or Lake Mary, FL in a Hybrid work environment.
About the team:
BNY Corporate Trust (CT) is one of the world’s largest providers of trust, custody, and agency services, leveraging a strong global brand and client franchise. CT is recognized as a market leader and trusted partner, delivering a broad range of capabilities to US domestic and international issuers, including Financial Institutions, Corporates, Insurers, Governments and Municipalities. CT is an intermediary between debt issuers, investors, and market infrastructure providers, covering a wide array of debt securities: Corporates, Specialty Debt, Asset Based Securities, CLOs, Mortgages and Structured Credit, as well as Municipal, Government Agency, and International Sovereign debt. This role will be based in Pittsburgh / Lake Mary and supervised out of New York, directly covering the Issuer Services business, with a specific focus on Corporate Trust.
As an Operational Risk Officer, this role will have daily interactions with the Business, COO, Engineering, and Operations managers. Direct, face-to-face interactions are critical to ensure that we can provide appropriate independent second line of defense review, challenge, oversight, and advice to Corporate Trust first line of defense. This role ensures that operational risks are properly identified, assessed, and mitigated, thus enabling proactive risk management aligned with on-going investment management activities and strategic priorities and plans.
In this role, you’ll make an impact in the following ways:
In the second line of defense, this role is responsible for the on-going independent oversight and challenge of day-to-day operational risk management activities performed by the Issuer Services business and support groups, with specific focus on Corporate Trust.
Provides independent review and challenge to the first line of defense, evaluating existing processes and monitoring operational risks to ensure that the business manages and mitigates them properly and addresses control gaps.
Leverages strong familiarity and interaction with the business to provide challenge in the assessing, monitoring and reporting of all its operational risks.
Assesses the business compliance with the Operational Risk Management Framework by identifying existing and emerging risks; contributing to the development of processes and controls to manage these risks; monitoring the adequacy and effectiveness of the control environment and the remediation of control deficiencies; and promoting risk awareness and adherence to the Framework.
Provides reporting on the operational risk management check and challenge activities in alignment with Corporate Operational Risk Management policies and procedures.
Oversees and ensures the appropriate operational risk identification by the business, including risks related to non-standard business acceptance discussions and to the creation and modification of products and processes.
Provides guidance to the business to manage implementation risk and influences to ensure compliance on risk and control documentation and notification of all appropriate stakeholders and regulators.
Leverages established and constructive working relationships with the Risk & Compliance and Audit teams and members of the business team to ensure timely completion of operational risk-related deliverables. Deliverables can include the execution of the Risk and Control Self-Assessments (RCSAs); the management of Operational Risk Events (OREs); root cause analysis and lessons learned; the management of Operational Risk Limits (ORLs); the resolution of issues and control gaps; and the implementation of process and control improvements.
Contributes to the achievement of the Operational Risk and Issuer Services team objectives, including regulatory deliverables.
To be successful in this role, we’re seeking the following:
Bachelor’s degree or equivalent education and experience in similar roles is required.
5 – 10 years of total related work experience.
Background in operational risk, compliance, or controls management preferred.
Knowledge of the Corporate Trust business is preferred
Excellent problem-solving, analytical abilities, project management, oral and written communications skills.
Strong Excel, SharePoint and PowerPoint technical skills required. Familiarity with ServiceNow or similar workflow / task management tools preferred.
At BNY, our culture speaks for itself. Here’s a few of our awards:
America’s Most Innovative Companies, Fortune, 2024
World’s Most Admired Companies, Fortune 2024
Human Rights Campaign Foundation, Corporate Equality Index, 100% score, 2023-2024
Best Places to Work for Disability Inclusion , Disability: IN – 100% score, 2023-2024
“Most Just Companies”, Just Capital and CNBC, 2024
Dow Jones Sustainability Indices, Top performing company for Sustainability, 2024
Bloomberg’s Gender Equality Index (GEI), 2023
Our Benefits and Rewards:
BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life’s journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter.
BNY assesses market data to ensure a competitive compensation package for our employees. The base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNY total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs.
This position is at-will and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation) at any time, including for reasons related to individual performance, change in geographic location, Company or individual department/team performance, and market factors.
Employer Description:
For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments and safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: bnymellon.com/careers.
EEO Statement:
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans. Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.
Vice President II, Operational Risk Management – Corporate Trust
At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000 employees bring the power of their perspective to the table to create solutions with our clients that benefit businesses, communities and people everywhere.
We continue to be a leader in the industry, awarded as a top home for innovators and for creating an inclusive workplace. Through our unique ideas and talents, together we help make money work for the world. This is what #LifeAtBNY is all about.
We’re seeking a future team member for the role of Vice President, Operational Risk to join our Corporate Trust team. This role can be located in Pittsburgh, PA or Lake Mary, FL in a Hybrid work environment.
About the team:
BNY Corporate Trust (CT) is one of the world’s largest providers of trust, custody, and agency services, leveraging a strong global brand and client franchise. CT is recognized as a market leader and trusted partner, delivering a broad range of capabilities to US domestic and international issuers, including Financial Institutions, Corporates, Insurers, Governments and Municipalities. CT is an intermediary between debt issuers, investors, and market infrastructure providers, covering a wide array of debt securities: Corporates, Specialty Debt, Asset Based Securities, CLOs, Mortgages and Structured Credit, as well as Municipal, Government Agency, and International Sovereign debt. This role will be based in Pittsburgh / Lake Mary and supervised out of New York, directly covering the Issuer Services business, with a specific focus on Corporate Trust.
As an Operational Risk Officer, this role will have daily interactions with the Business, COO, Engineering, and Operations managers. Direct, face-to-face interactions are critical to ensure that we can provide appropriate independent second line of defense review, challenge, oversight, and advice to Corporate Trust first line of defense. This role ensures that operational risks are properly identified, assessed, and mitigated, thus enabling proactive risk management aligned with on-going investment management activities and strategic priorities and plans.
In this role, you’ll make an impact in the following ways:
In the second line of defense, this role is responsible for the on-going independent oversight and challenge of day-to-day operational risk management activities performed by the Issuer Services business and support groups, with specific focus on Corporate Trust.
Provides independent review and challenge to the first line of defense, evaluating existing processes and monitoring operational risks to ensure that the business manages and mitigates them properly and addresses control gaps.
Leverages strong familiarity and interaction with the business to provide challenge in the assessing, monitoring and reporting of all its operational risks.
Assesses the business compliance with the Operational Risk Management Framework by identifying existing and emerging risks; contributing to the development of processes and controls to manage these risks; monitoring the adequacy and effectiveness of the control environment and the remediation of control deficiencies; and promoting risk awareness and adherence to the Framework.
Provides reporting on the operational risk management check and challenge activities in alignment with Corporate Operational Risk Management policies and procedures.
Oversees and ensures the appropriate operational risk identification by the business, including risks related to non-standard business acceptance discussions and to the creation and modification of products and processes.
Provides guidance to the business to manage implementation risk and influences to ensure compliance on risk and control documentation and notification of all appropriate stakeholders and regulators.
Leverages established and constructive working relationships with the Risk & Compliance and Audit teams and members of the business team to ensure timely completion of operational risk-related deliverables. Deliverables can include the execution of the Risk and Control Self-Assessments (RCSAs); the management of Operational Risk Events (OREs); root cause analysis and lessons learned; the management of Operational Risk Limits (ORLs); the resolution of issues and control gaps; and the implementation of process and control improvements.
Contributes to the achievement of the Operational Risk and Issuer Services team objectives, including regulatory deliverables.
To be successful in this role, we’re seeking the following:
Bachelor’s degree or equivalent education and experience in similar roles is required.
5 – 10 years of total related work experience.
Background in operational risk, compliance, or controls management preferred.
Knowledge of the Corporate Trust business is preferred
Excellent problem-solving, analytical abilities, project management, oral and written communications skills.
Strong Excel, SharePoint and PowerPoint technical skills required. Familiarity with ServiceNow or similar workflow / task management tools preferred.
At BNY, our culture speaks for itself. Here’s a few of our awards:
America’s Most Innovative Companies, Fortune, 2024
World’s Most Admired Companies, Fortune 2024
Human Rights Campaign Foundation, Corporate Equality Index, 100% score, 2023-2024
Best Places to Work for Disability Inclusion , Disability: IN – 100% score, 2023-2024
“Most Just Companies”, Just Capital and CNBC, 2024
Dow Jones Sustainability Indices, Top performing company for Sustainability, 2024
Bloomberg’s Gender Equality Index (GEI), 2023
Our Benefits and Rewards:
BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life’s journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter.
BNY assesses market data to ensure a competitive compensation package for our employees. The base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNY total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs.
This position is at-will and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation) at any time, including for reasons related to individual performance, change in geographic location, Company or individual department/team performance, and market factors.
Employer Description:
For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments and safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark: bnymellon.com/careers.
EEO Statement:
BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans. Our ambition is to build the best global team – one that is representative and inclusive of the diverse talent, clients and communities we work with and serve – and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.
