Senior Associate - Operational Risk

Neuberger's Operational Risk and Resilience team is seeking a Senior Associate, Operational Risk professional to support the global Operational Risk program, consisting of identification and management of operational risk events and issues, maintenance of the operational risk framework and related governance processes, and collaboration with business, risk, support, and control functions globally to develop solutions to improve processes and strengthen the control environment.  This hands-on position requires the ability to challenge and coordinate front-to-back business management, and collaborate with risk, support, and control colleagues across the global firm.  This role requires regular engagement with fund boards, oversight committees, and senior management as well as responding to requests from various regulators.

The role will be a key liaison across local and global business functions on operational risk matters and be responsible for the execution of operational risk and resilience frameworks in accordance with best practices and regulatory requirements.

This is a unique opportunity to support a broad range of businesses (Institutional Equity and Fixed Income, Private Markets, Private Wealth) at a global asset manager and cover a range of risk disciplines, all of which are interconnected and allow for holistic risk oversight.

Responsibilities:

• Ongoing management, maintenance, and embedding of the operational risk framework, covering all existing and new products, strategies, and related governance processes

• Identify and investigate operational risk events, ensuring root cause analysis and control assessments are undertaken

• Identify patterns and trends in events to undertake root cause analysis

• Track external loss events and undertake “could it happen here” event analysis

• Undertake “deep dive” reviews on significant and complex events to provide ongoing recommendations to enhance the control environment while keeping senior leaders updated on the progress

• Identify process/control weaknesses and raise issues and associated actions as required.  This will involve notifying responsible owners from business and support teams and providing adequate oversight to ensure the issue is managed to completion

• Conduct and maintain risk and control self-assessments (RCSAs) across the business and support operating units

• Administration and support of the group wide operational risk tools in particular

• Support the Senior Operational Risk Manager in the implementation of changes in various systems

• Support training of employees across the firm on use of the operational risk database

• Undertake risk assessments of new third-party services as part of our Third-Party Risk Management framework and oversee the business due diligence process

• Interact and coordinate with Portfolio Managers, Legal & Compliance, Operations, Technology, Client Coverage, and Firm Leadership on a regular basis; maintain a high degree of visibility within the organization

• Produce and present Operational Risk reporting for various Committees and governance forums, including root cause analysis

• Produce ad hoc reporting to key business stakeholders

• Engage with clients, write client letters following errors and breaches, and prepare internal escalation notes for significant events

• Provide support to the Business Continuity team for the delivery of the business continuity program

Requirements:

• Minimum of five years of experience in Operational Risk Management (in asset management or banking industry preferred)

• Undergraduate degree

• Experience with operational risk management frameworks, risk appetite development, and alignment with industry best practices

• Familiarity with global regulations and guidance for the asset management industry pertaining to operational risk and resilience

• Familiarity with Wolters Kluwer/OneSumX or experience using and configuring other Operational Risk Management applications

• Experience in global risk functions supporting multiple institutional business lines and products

• Highly motivated, self-starter who delivers accuracy and attention to detail in a fast-paced environment

• Team player with flexibility to manage multiple projects with cross-functional teams

• Demonstrated ability to work with multiple stakeholders and manage competing priorities

• Confident and clear communicator with the ability to tailor messaging to different constituencies and engage across all seniority levels across the firm

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