This job has expired, please see additional jobs below
Consumer Banking and Residential Lending (CBRL), Operational Risk Review and Challenge Manager, Vice President
Mitsubishi UFJ Financial Group
New York, NY, United States
Job Details - this job has expired, please see similar jobs below
Description
Consumer Banking and Residential Lending (CBRL), Operational Risk Review and Challenge Manager,
Vice President
MUFG Group
Join a financial group that is as committed to your future as you are. At MUFG, we share a vision for our future, we share our successes, and we strive to bring out the best in each other in everything we do. Our 14,000 diverse colleagues are connected by a common ambition to create change for the better — from forging more dynamic career paths, to driving progress in our communities, to continuously reshaping the standards of global financial services. Positive impact starts here; see the change you can make as we strive to become the world’s most trusted financial group.
Job Summary:
This role reports to the Director of Consumer/Retail Business Review and Challenge and is responsible for providing Credible Challenge support for Retail/Consumer. Job entails identifying, gathering, analyzing, interpreting and reporting on operational risk data to various levels of management. Provide operational risk management training and consultation to various business units as needed.
Overall Purpose of Job:
Reporting to the Director of Consumer/Retail Business Review and Challenge unit, responsible for executing the second line of defense credible challenge program across the Consumer Banking and Residential Lending (CBRL) business units.
1) Execution of a risk-based review and challenge work program to monitor the CBRL business lines' fulfillment of its first line of defense operational risk management responsibilities (including third party risk management, and other sub-operational risk program elements to be incorporated over time) specific to its activities:
The work programs are intended to:
• Provide input as to whether the business line is utilizing all of the tools of the operational risk management framework (e.g. internal and external loss data, BEICFs, Scenario Analysis and capital allocation), including third party risk management*, in an integrated manner, and in accordance with second line of defense policies and standards.
• Provide a mechanism for the second line of defense to review, validate, and challenge that the coverage of the CBRL business processes and associated risks are complete (e.g. across MUFG legal entities and operational risk sub-types) and risk ratings are appropriate.
• Provide a mechanism to evaluate whether the integrated operational risk and third party risk management framework is used in the management of its CBRL activities.
*Ensures that the business units have developed business processes for and manages the risks associated with third parties throughout the full life-cycle of the relationship - including planning, due diligence, contract execution, transition execution, ongoing monitoring and termination of the relationship.
2) Development and production of monthly or quarterly scorecards or dashboards that provide executive management a consolidated view of the business lines' adherence to the operational risk framework in effectively managing risk as the bank's first line of defense in its CBRLactivities.
3) Participate in targeted CBRL governance and 'business as usual' working meetings to foster a deep understanding of the business and changes that impact its operational risk profile. The VP must be prepared to contribute to the discussions in real-time, while maintaining documentation of challenge or validation provided (e.g. Challenge Log). This participation forms a component of the VP's role in monitoring the operational risk profile of the CBRL.
4) As part of the ongoing monitoring of the CBRL Business lines, the VP is expected to:
• Review the results of internal audits and examinations
• Review the business lines monthly business review and financial reports, as available (focusing on potential areas of increased risk)
• Review new or expanded products or services implemented by the business lines to understand risk implications
• Review technology or business process changes or projects in process, along with associated business line policy and procedure modifications
• Review changes to the organizational structure within the business, including turnover and key vacancies
• Review progress in action plans to address issues (identified from all sources), as well as new management self-identified issues.
• Stay abreast of key external industry issues impacting the consumer/residential lending and deposits business (e.g regulatory, competitive landscape, key challenges, etc.)
• Based on the above monitoring, the VP should propose changes to the scope of validation and challenge activities to the Director to address accordingly.
5) Provide support for the planning and periodic review and challenge sessions with Business Unit Risk and Control Officers and Business Unit executives to discuss the output and execute validation and challenge activities (e.g. RCSA, MRA remediation), as well as areas of concern.
6) Ensure the results of all work performed is documented in accordance with pre-defined standards and is ready for third party review upon request.
7) Coordinate with internal Operational Risk stakeholders:
(1) Operational Risk Policy and Process teams: to ensure that program expectations are well understood and incorporated into the business line review and challenge program, and are consulted when differences in view of program requirements arise with the business line
(2) Shared Support team: for providing requirements for support in control testing and QC tasks, along with the review and evaluation of results.
8) Develop strong professional relationships with the Business line Risk and Control teams, and Line of Business leaders to ensure trust and transparency amongst the lines of defense.
Support initiatives periodically assigned by the Head of the Revenue Generating Business Unit Credible Challenge team.
Qualifications
• Bachelor’s degree in Business, Finance, Economics, Accounting, or related field. MBA preferred.
• 8+ years’ experience in operational risk management, internal audit or related field
• At least 6+ years CBRL business line experience directly (preferred) or within a related risk management or audit field is required.
• Experience in control testing techniques and documentation
• Strong knowledge of operational and third party risk regulatory requirements and industry practices
• Demonstrated ability to manage workloads and prioritize deliverables
• Strong written and verbal communication skills
• Strong interpersonal skills to manage relationships with Business Unit Risk and Control Managers and other Operational Risk SMEs
• Strong oral / written communication skills.
• Able to build relationships with people at all levels. Able to influence and galvanize support of others. Builds rapport and trust among stakeholders
• Ability to promote cooperation and good working relationships among team members.
• Broad view of the financial services industry.
• Expertise in control testing techniques and documentation
• Strong understanding of operational risk management programs and practices, including third party risk
• Exceptional organizational skills.
• Strong analytical skills.
• Experience in working with regulators and auditors.
We are proud to be an Equal Opportunity/Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment