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MUFG · 1 day ago

Markets & Trading Operational Risk, Vice President

NYC Metro Area

Full-time

Onsite

Mid, Senior Level

$155K/yr - $190K/yr

7+ years exp

MUFG is a financial services company seeking a Vice President of Markets and Trading Operational Risk Management. This role involves overseeing operational risk activities, developing risk management frameworks, and ensuring compliance with risk policies within the markets and trading sector.

Financial Services

Hiring Manager

Tracey Donaldson Kea

Responsibilities

Contributing to the development of the markets and trading operational risk management framework, standards and methodology, and providing updates on a periodic basis in line with the changing risk profile

Provide guidance to first line, second line, and enterprise support units on the effective execution of the Operational Risk framework, including: new activity assessments, operational risk/loss events, scenario analysis, risk and control self-assessments (RCSA), and emerging risk identification

Participating in Review and Challenge to provide ongoing independent SME review and challenge for First Line of Defense (FLOD) markets and trading operational risk activities and compliance with the Markets and Trading Risk Framework and risk policies

Manage Operational Incidents process and report within firm guidelines, inclusive of remediation, tracking and reporting. Work with enterprise personnel to understand the root cause of incidents, to assess incident response and remediation efforts, and manage tracking and reporting

Perform quality review on reported incidents as needed and ensure all required reporting components are effectively captured (i.e. taxonomy, impact type, complete description details, root cause, etc.) Establish the necessary markets and trading framework and standards so that aggregate risks within the company are effectively identified, measured, monitored and controlled consistent with the bank’s risk appetite

Partner with markets and trading businesses and 2LoD partners to incorporate 2LoD assessment(s) into full Operational Risk Framework (i.e. RCSA, Incident Management, KRMs, etc.) order to identify strengths and weaknesses in the overall program to ensure a path of continuous improvement that supports better identification of operational risks and avoidance of errors, fines and losses, etc

Develop tools, processes, and systems to independently identify and assess aggregate markets and trading risks, trends and emerging risks

Manages the development, monitoring, and review of key risk metrics and assists management in the early identification of risk trends

Support the design and development of the Bank’s KRM program, ensuring KRMs are correctly calibrated, and relevant

Produce monthly reporting, including relevant commentary and remediation actions. Ensure that ongoing assessment of KRMs is undertaken and annual review requirements are met

Provide aggregate enterprise-wide markets and trading operational risk reporting for management and the applicable risk committees

Ensure material markets and trading operational risks and events are escalated to management and relevant committees

Perform on going monitoring of markets and trading operational key risk metrics

Oversees the production of key reporting activities and drives the execution on monthly and quarterly risk reporting and board reporting packages

Provide ORM coordination with the various legal entities:

Serve as an operational risk central point of contact

Represent Operational Risk at entity-level operational risk committees

Qualification

Operational Risk ManagementMarketsTrading RiskSecond Line of DefenseRisk Assessment AnalysisKey Risk MetricsAnalytical MindsetProblem SolvingCommunication SkillsTeam PlayerCollaboration Skills

Required

7 + years Operational Risk experience

Markets and Trading Operational Risk

Strong Second Line of Defense experience

Typically have 7+ years of experience in Operational Risk, Internal or External Audit within a dynamic international financial institution or financial services firm

Requires extensive knowledge of markets and trading operations from both process and technology perspectives

Excellent skills in markets and trading risk assessment analysis, identifying trends and signs of changing risk levels

Analytical mindset to make sound recommendations into operational risk issues is imperative

Strong team player who is comfortable working collaboratively and independently to look ahead, anticipate, challenge and manage around obstacles

Being a lateral thinker with problem solving and consulting skills, and the ability to grasp abstract concepts and complex situations

Enjoy working both independently and collaboratively within a global matrixed organization and possess strong communication skills

BA or BS degree required

Ability to build collaborative and productive working relationships, consensus and a sphere of influence with business teams and others across all functions

Team player who can excel in a fast paced, challenging environment with a strong desire to continuously improve and learn new things

Excellent communications skills, both oral and written with experience presenting to senior level management

Experience interfacing with banking/financial services industry regulators