Vice President, Operational Risk – Fund Services II
3 days ago
The Vice President of Operational Risk at BNY is responsible for overseeing the operational risk management framework for Fund Services, ensuring that risks are effectively identified, assessed, and mitigated. This role requires strong collaboration with business leaders and a deep understanding of risk management tools and client asset safety regulations. The individual in this position will provide guidance on risk-related issues and report on the effectiveness of risk management activities to executive management.
Vice President, Operational Risk – Fund Services II
At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000+ employees bring the power of their perspective to the table to create solutions with our clients that benefit businesses, communities and people everywhere.
We continue to be a leader in the industry, awarded as a top home for innovators and for creating an inclusive workplace. Through our unique ideas and talents, together we help make money work for the world. This is what #LifeAtBNY is all about.
We’re seeking a future team member for the role of Vice President, Operational Risk to join our BNY Asset Servicing Operational Risk team. This role can be located in either Pittsburgh, PA or Lake Mary, FL in a Hybrid work environment.
About the team:
Reporting to the Operational Risk Management Director co leading the Asset Servicing Operational Risk Management Team , the Operational Risk Officer will be part of a global team within the 2nd Line of Defence with oversight of Fund Services, including Global Transfer Agency or Accounting.
As an Operational Risk Officer (ORO), this role at our bank will have daily interactions with the Business, COO, and Operations managers. Direct interactions are critical to ensure that we can provide appropriate independent second line of defense review, challenge, oversight, and advice to the first line of defense. This role ensures that operational risks are properly identified, assessed, and mitigated, thus enabling proactive risk management aligned with on-going investment management activities and strategic priorities and plans.
In this role, you’ll make an impact in the following ways:
- The ORO will ensure Risk Management oversight of the business risk framework, notably; Risk & Control Self Assessments, Key Risk Indicators, Operational Risk Events and Business Process Change risk assessments,
- The provision of advice and guidance will be provided to the business line, including the evaluation of existing processes and the ORO should be able to call on a high level of knowledge of associated risks to direct the business line's activities to address control gaps.
- Directs the 1st line of defense’s compliance with the Operational Risk Management Framework by identifying, assessing, and mitigating risks; identifying emerging issues; contributing to the development of processes and controls to manage risks; monitoring the adequacy and effectiveness of the control environment; remediating deficiencies; monitoring and challenging business activities; and enforcing business line awareness-of and adherence-to the risk management framework.
- Recommends modifications to reduce implementation risk and uses strong influence with business line management to ensure compliance, risk and control documentation and notification of all appropriate representatives and regulators.
- Responsible for appropriately escalating issues to the Risk and Compliance management team.
- Ensures that all challenge and issues raised are suitably evidenced and recorded.
- Provides reporting on outputs of risk management activities completed, including thematic reviews and independent assessments, suitable for Executive Management
To be successful in this role, we’re seeking the following:
- Bachelor’s Degree or the equivalent combination of education and experience is required. Graduate degree preferred.
- 8-10 years total work experience with 1-3 years of experience in operational risk preferred.
- Strong familiarity with either the Transfer Agency or Accounting products and operations to anticipate, assess, monitor, and report on operational risks.
- An understanding of the Operational Risk Framework and associated risk tools, eg RCSAs, KRIs.
- An understanding of client asset safety regulations and principles
- Able to develop and establish collaborative working relationships with colleagues in both 1st and 2nd lines of defense to ensure timely completion of risk-related deliverables, issue resolution and implementation of improvements.
- Good interpersonal and communication skills, with the ability to interact effectively with both senior leaders and across all levels of the organization.
At BNY, our culture speaks for itself. Here’s a few of our awards:
- America’s Most Innovative Companies, Fortune, 2024
- World’s Most Admired Companies, Fortune 2024
- Human Rights Campaign Foundation, Corporate Equality Index, 100% score, 2023-2024
- Best Places to Work for Disability Inclusion, Disability: IN – 100% score, 2023-2024
- “Most Just Companies”, Just Capital and CNBC, 2024
- Dow Jones Sustainability Indices, Top performing company for Sustainability, 2024
- Bloomberg’s Gender Equality Index (GEI), 2023
Our Benefits and Rewards:
BNY offers highly competitive compensation, benefits, and wellbeing programs rooted in a strong culture of excellence and our pay-for-performance philosophy. We provide access to flexible global resources and tools for your life’s journey. Focus on your health, foster your personal resilience, and reach your financial goals as a valued member of our team, along with generous paid leaves, including paid volunteer time, that can support you and your family through moments that matter.
BNY assesses market data to ensure a competitive compensation package for our employees. The base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNYM total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs.
This position is at-will and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation) at any time, including for reasons related to individual performance, change in geographic location, Company or individual department/team performance, and market factors.
Keywords:
Operational Risk Management, Fund Services, Transfer Agency, Accounting Products, Risk Assessment, Regulatory Compliance, Financial Services, Risk Mitigation, Operational Risk Framework, Business Process Change
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Pittsburgh, United States BNY Full timeVice President, Operational Risk – Fund Services II at BNY summary: The Vice President of Operational Risk at BNY is responsible for overseeing the operational risk framework within Fund Services. This role involves collaborating with business units to identify, assess, and mitigate risks, ensuring compliance with operational standards. The position...
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Pittsburgh, United States BNY Full timeVice President, Operational Risk – Fund Services II At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000+ employees bring the power of their perspective to the table...
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Pittsburgh, United States BNY Full timeVice President, Operational Risk – Fund Services II At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000+ employees bring the power of their perspective to the table...
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Pittsburgh, United States BNY Full timeVice President, Operational Risk – Fund Services II At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000+ employees bring the power of their perspective to the table...
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Pittsburgh, United States BNY Full timeVice President, Operational Risk – Fund Services II At BNY, our culture empowers you to grow and succeed. As a leading global financial services company at the center of the world’s financial system we touch nearly 20% of the world’s investible assets. Every day around the globe, our 50,000+ employees bring the power of their perspective to the table...
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