Description

Risk & Control Specialist - VP - Maze ID 180

First Line Risk & Control Team

First Line Risk & Control Team is part of the Operations Risk & Control pillar within the EMEA Operations division. Its purpose is to equip the Product Service pillars in Operations with a dedicated, pre-emptive first line control function which will enable Operations to meet internal and external (including regulatory) obligations. Duties include providing dedicated risk & control oversight to product service pillars and executing the central control assurance function, by driving the control agenda, sponsoring control themes across pillars, delivering control MI / risk reporting, owning control framework.

MAIN PURPOSE OF THE ROLE

Risk & Control Specialist

In this role, you will be supporting the Product channel ensuring effective control oversight of Operations processing activities through pre-emptive monitoring, reconciliation and continuous risk assessment. Proactively identify potential risks by monitoring and analysing indicators, trends, and emerging issues. Develop appropriate response plans. Work with cross-functional teams to establish best practices in risk management and integrate them into business operations.

Focus of this role will be to have good BAU knowledge and oversight to be able to provide Operational Control Oversight for key KRI's and KPI's for Regional Operations Product Services processing areas - have a strong understanding of reconciliation first principles to facilitate effective identification of key risk and thematic issues. Leverage reconciliation expertise to play an active role in R&C risk analysis and mitigation.

Have a good understanding of Securities and Derivative trades life cycle events, collateral funding for Derivative and Securities products, and understanding of operational requirement to support Settlement pre-matching for Fixed Income and equity products.

Processing areas coverage:

• Securities Trade Support

• Derivatives Trade Support

• Confirmations

• Collateral Management

• Asset Servicing & Network Management

• Settlements / Tri party

• Funding, Brokerage & Reconciliations

KEY RESPONSIBILITIES

1. Establishment and maintenance of the 1st line control framework (key controls) which are required to mitigate against operational failure within the product channel.

• Current vs Required Control reconciliation to determine accuracy key controls

• Mapping key controls to risks

• Determination of business risks and mapping of key controls required to mitigate those risks

• Assessment of control (design and operating) effectiveness and remediation of controls that

are identified to not be effective

• Appropriate calibration, measurement and reporting of control status

• Periodic (mostly daily) execution of controls

2. Supporting the product channel to demonstrate / evidence that it is "in control" through:

• Ensure completeness of the self identified issue (SII) population

• Preparing the RAF (Risk Assessment Framework) for the Product Channel and discussing / agreeing content with the department head

• Attesting to key controls on a periodic basis

• Establishment, measurement, monitoring and reporting of key risk and performance indicators for the product channel (e.g. ORM)

• Maintenance of the department's RCSA (Risk Control Self-Assessment)

• Management and resolution of queries relating to control gaps / failures within the unit

3. Control Assurance Testing and Reconciliation

• Reduce risk through detailed reconciliation in the following areas:

i. Execution of self-inspections (inspection and countermeasure)

ii. Ensuring SOX testing is performed and its accuracy

iii. Execution of the RCSA controls testing.

4. Incident Management

• Trend analysis using reconciliation principles to complete root cause analysis, identification and remediation of core trends / themes

• Operational incident management (timeline, flash report, CORE report, incident log, verification of well-established countermeasures and reporting)

• Recording and tracking analysis near-misses

5. Management of Audit Profile

• Review of open audit issues and MAP (Management Action Plans) from internal and external audit reports

• Progress and track closure of open points by supporting product channel in completion of actions

• Reporting and escalation of outstanding issues

6. Procedure and Policy Management

• Support unit procedure reconciliation to ensure completeness and regular review

• Unit procedure update / review

• Exception handling request application

7. Execution of BAU and Internal control activities

• Support colleagues within the function to embed risk management policies and reconciliation processes into BAU operations

• Promote "think risk" culture within the function through risk discussions and enhancements to risk management practices

• Participate in risk related changes (operational or technology related) at the functional level for both transformation and BAU changes

• Collaborate with other Risk Champions on cross functional risks and the transfer of risks from one register to another

WORK EXPERIENCE

Work Experience:

• Strong Product knowledge and front to back process understanding of Investment Banking flows

• Proven track record of planning, executing, and reporting on control testing programmes, ensuring timely completion and compliance

• Familiarity with regulatory requirements and internal audit standards, ensuring adherence to compliance obligations

• Demonstrable stakeholder management skills

• Demonstrable time management skill

• Proven ability to lead and motivate others including across teams

SKILLS AND EXPERIENCE

Functional / Technical Competencies:

Essential

• Strong analytical capability to perform risk assessments from an operational perspective

• Understanding of the general Operational process flow

• Proficiency in tools like Excel

• Excellent communication skills (written and oral)

• Strong stakeholder management skills

• Deep understanding of risk frameworks with control testing, governance, and remediation.

PERSONAL REQUIREMENTS

• Excellent communication skills

• Results driven, with a strong sense of accountability

• A proactive, motivated approach.

• The ability to operate with urgency and prioritise work accordingly

• Strong decision making skills, the ability to demonstrate sound judgement

• A structured and logical approach to work

• Strong problem solving skills

• A creative and innovative approach to work

• Excellent interpersonal skills

• The ability to manage large workloads and tight deadlines

• Excellent attention to detail and accuracy

• A calm approach, with the ability to perform well in a pressurised environment

• Excellent Microsoft Office skills

PERFORMANCE AND DUTIES

The role holder will be assessed in accordance with their employing entity's performance framework and process with relevant input obtained from the dual hatting entity as relevant.

As duties and responsibilities change, the job description will be reviewed and emended in consultation with the role holder. The role holder will carry out other duties as are within the scope, spirit and purpose of the role as requested by their line manager or Department Head.