Head of Operational Risk

Location(s):

• 7 World Trade Center, 250 Greenwich Street, New York, New York, 10007, US

Line Of Business: CRR(CRR)

Job Category:

• Corporate Services

Experience Level: Experienced Hire

At Moody's, we unite the brightest minds to turn today’s risks into tomorrow’s opportunities. We do this by striving to create an inclusive environment where everyone feels welcome to be who they are-with the freedom to exchange ideas, think innovatively, and listen to each other and customers in meaningful ways.

If you are excited about this opportunity but do not meet every single requirement, please apply! You still may be a great fit for this role or other open roles. We are seeking candidates who model our values: invest in every relationship, lead with curiosity, champion diverse perspectives, turn inputs into actions, and uphold trust through integrity.

The Head of Operational Risk Management is responsible for overseeing the development, implementation, and management of the global enterprise-wide framework for Operational Risk. This role sets out Moody's enterprise-level strategies, governance, policies, and practices to proactively identify, assess, measure, report on, mitigate, and control operational risk exposures associated with the company's businesses and functions at all levels of the organization.

Key Responsibilities:

• This leader will be responsible for the developing the four key components of a robust Operational Risk Framework, including but not limited to Risk Assessment Framework, Incident Loss, Issue Management and will manage a team of 10-15 globally.
• Develop and monitor existing and emerging Operational risks, identifying material trends, escalating applicable risk issues, and ensuring appropriate risk responses are developed in a timely manner.
• Provide independent oversight of Operational Risk management by the first line of defense as well as the quality of operational risk management practices across the company.
• Propose enterprise-level Operational risk strategies and policies for approval by the company's Board and update them as required.
• Provide framework and structure to challenge management’s decisions, business processes, and activities to understand and strengthen overall operational risk practices and programs.
• Manage senior relationship with key stakeholders across the firms and LOBs. Will have strategic relationship with most senior mgmt. of the company and will be presenting to the board on Op Risk related items.
• Advise and consult with senior leaders across the company on both Operational and Technology risk-related events to determine root cause and develop an appropriate risk management response, and implement measures to prevent future occurrences
• Ensure that the impact from the firm’s strategic plans, financial capital planning, and global risk identification processes are aligned to the framework.
• Monitor changes in Business area Risk profiles and provide effective challenge to Business stakeholder’s remediation plans.
• Work closely with business unit management to establish appropriate risk culture and ensure business line ownership, accountability, and responsibilities for risks they generate.
• Lead, manage, and direct programs including:
  • Risk and Control Self-Assessment - the primary risk identification and assessment program for the company.
  • Standards for the company’s Internal Control Framework including testing requirements across Operational risk types.
  • Issues Management.
  • Risk Loss Event and Incident Management and Lessons Learned.
  • Risk Scenario Analysis.
• Ensure timely reporting of relevant risks to senior management and the Board.
• Ensure all monitoring and reporting procedures align with risk policies and ensure that the organization works effectively with individual business groups conducting gap analyses and defining related remediation work.
• Chair applicable the companies Operational Risk Committee and serve in applicable global and regional committees and ensure that relevant risk-related management information is produced and reviewed at appropriate intervals.
• Own and approve the MCO wide Operational Risk policies.
• Collaborate day-to-day on Operational Risk governance practices across ERM functions as well as Legal, Compliance, Regulatory and Industry Affairs, and Corporate Audit to further enhance the connectivity of ERM processes.
• As a member of the senior management team for Risk Management, work closely with other risk management leaders in the general management of the ERM function.
• Lead and manage a multi-jurisdictional team of professionals ensuring that there are clear lines of reporting, authority levels, objectives, and progress against performance priorities.
• Develop and manage the planning and budgets for the Operational Risk Management function (people, infrastructure, consulting) as assigned by the Chief Risk Officer.

Qualifications:

• Minimum of 20 years of related experience in the Operational Risk capacity within the financial services industry including time spent managing in an executive capacity.
• Experience developing/leading a global Risk Management Framework at the enterprise level.
• A strong analytical background with 10-15 years of experience in empirical data analysis, risk modeling, and stress testing.
• Proven interpersonal and communication skills at both the executive and board level.
• Detailed understanding of global regulatory requirements and demonstrated experience working directly with the regulators including in a remediation capacity.
• Demonstrated experience evaluating risks and developing strategies to mitigate operational risks for a multi-jurisdictional global financial services company.
• Deep knowledge and understanding of risk management principles and strategies as well as the emerging trends.
• Highly organized with extensive problem-solving and negotiation skills.
• GSIB experience an asset.
• Graduate degree in Finance, Mathematics, Economics, or MBA preferred.

For US-based roles only: the anticipated hiring base salary range for this position is $231,400.00 - $335,500.00, depending on factors such as experience, education, level, skills, and location. This range is based on a full-time position. In addition to base salary, this role is eligible for incentive compensation. Moody’s also offers a competitive benefits package, including not but limited to medical, dental, vision, parental leave, paid time off, a 401(k) plan with employee and company contribution opportunities, life, disability, and accident insurance, a discounted employee stock purchase plan, and tuition reimbursement.

Moody’s is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, sex, gender, age, religion, national origin, citizen status, marital status, physical or mental disability, military or veteran status, sexual orientation, gender identity, gender expression, genetic information, or any other characteristic protected by law. Moody’s also provides reasonable accommodation to qualified individuals with disabilities or based on a sincerely held religious belief in accordance with applicable laws. If you need to inquire about a reasonable accommodation, or need assistance with completing the application process, please email accommodations@moodys.com. This contact information is for accommodation requests only, and cannot be used to inquire about the status of applications.

For San Francisco positions, qualified applicants with criminal histories will be considered for employment consistent with the requirements of the San Francisco Fair Chance Ordinance.

This position may be considered a promotional opportunity, pursuant to the Colorado Equal Pay for Equal Work Act.

Click here to view our full EEO policy statement. Click here for more information on your EEO rights under the law. Click here to view our Pay Transparency Nondiscrimination statement. Click here to view our Notice to New York City Applicants.
Candidates for Moody's Corporation may be asked to disclose securities holdings pursuant to Moody’s Policy for Securities Trading and the requirements of the position. Employment is contingent upon compliance with the Policy, including remediation of positions in those holdings as necessary.