VP / Business Risk and Control Officer

This Operations Business Risk and Control Officer role is in the Risk Mitigation and Execution team supporting SMB&IC Core Operations and is a part of the broader Risk & Control function within the COO organization covering Operations. This role is responsible for, among other things, analyzing and reporting on horizontal key control metrics within Operations and reporting trends/emerging risks, as well as supporting the compilation of materials for monthly SMB&IC Operations Risk and Controls meetings.

This role will also work in close partnership with Business Aligned Risk and Controls teams within Services, Markets and Lending Operations Controls, and with other Risk Management areas to assess the risk profile of processes and develop a reporting framework that pro-actively identifies current state and emerging risks.

The individual must have an in-depth understanding of Operational Risk management and a good understanding of the financial industry. The role requires a thorough understanding of the strategic direction of the function, combined with a solid conceptual/practical grounding in both the function and/or area of expertise and related subject areas.

Excellent communication and diplomacy skills are a must in order to articulate internal issues, action plans, etc., often at a senior level.   

Responsibilities:

• Support aggregation of Operational risk information and metrics horizontally across SMB&IC Ops​

• Analyze and report horizontal key control metrics specific to Issues management, MCA/control effectiveness and audit/exam performance, EUC management, Regulatory Change Management, and Operational Risk events such as near miss/losses.

• Identify and escalate, as warranted, trends across Operations indicative of control inadequacies and/or gaps​.

• Coordinate with stakeholders across Operations Controls and SMB&IC Operations in order to compile materials for monthly SMB&IC Operations Risk & Control Forum and quarterly regulatory ongoing supervision meetings​.

• Help contribute to governance and the facilitation of the execution of the Manager Control Assessment (MCA, i.e. Risk & Control Self-Assessment) as required by the MCA Standard including the assessment and appropriate approval of risk associated with business changes. 

• Support teams in the quality, completeness, and accuracy of the implementation of the Control Framework, including Risk Control Policy, Control Standard, Issue Management Policy, Lesson Learned Policy and Control Inventory.

• Assist in performing a detailed analysis on the identification of issue root cause, partnering with control and process owners to recommendations holistic corrective actions and improvements, provide check and challenge to ensure appropriate escalation in according with Issue Management and Escalation Policies.

• Help contribute to the Lessons Learned Policy, including monitoring of control breaches and dissemination and learnings across other business units for process improvement to limit the occurrence of similar future events and where similar risk exposure might exist.

• Support the review and challenge process, within the FLUs, on the effective design and management of controls to mitigate risks as required by the Control Standards, including implementation and operation, conducting the control monitoring, handling deficiencies, and escalating issues for resolution. 

• Help contribute to the timeliness, accuracy and completeness of the MCA through controls prior to the execution of a process (QC).

• Assist in the monitoring of the adherence to the MCA Standard through controls after the execution of a process (QA).

• Support in dealing with Operational and Compliance Risk in accordance with established Policy requirements.

• Assist in performing a detailed analysis to identify, assess, escalate, and manage risk exposures across Risk Categories (Operational Compliance, Strategic, Reputational, etc), including material, emerging and concentration risks in accordance with enterprise Policies and the establishment of Key Indicators to monitor risk exposures.

• Assist in supporting Risk Appetite and monitor / assess exposures against this in accordance with enterprise requirements (if applicable).

• Be part of the process to identify, assess, record and response to Operational and Compliance Risk events, ensuring these are captured accurately, timely and in accordance with requirements.

• Help ensure that adequate governance and training are in place to support management of Risk profiles.

• Contribute to the risks associated with New Activities and changes to the Busi