Senior Vice President, Risk Operations
2 weeks ago
CLS Group stands as a pivotal entity within the global foreign exchange (FX) landscape. Serving a multitude of counterparties, CLS enhances the safety, efficiency, and cost-effectiveness of FX transactions. Each day, trillions of dollars in currency traverse our advanced systems.
Founded by market participants for the benefit of the market, our unparalleled global settlement framework mitigates systemic risk and standardizes processes for those engaged in some of the most actively traded currencies worldwide. Our innovative approach to multilateral netting significantly reduces funding requirements by over 96% on average, allowing clients to allocate their capital and resources more effectively.
CLS's offerings are meticulously crafted to empower clients in managing risk throughout the entire FX lifecycle—whether through enhanced processing solutions or insights derived from the largest repository of executed FX data available.
Our mission to effect positive change begins with our workforce. Our core values—Protect, Improve, Grow—are the foundation of our operations, fostering a supportive and inclusive workplace where every individual is encouraged to think openly and innovatively.
Position Overview:
The role of the Operational Risk Manager is crucial in supporting the Operational Risk team, focusing on the Finance business unit from a second line of defense (2LOD) operational risk perspective, ideally possessing subject-matter expertise in finance and accounting. The Operational Risk Manager is expected to operate autonomously, collaborating with stakeholders to facilitate the implementation of the operational risk framework and deliverables while ensuring ongoing communication with the Head of ORM Coverage and the broader Operational Risk Management team.
Key Responsibilities:
- Enhance the ORM and ERM frameworks by engaging with stakeholders to ensure effective implementation.
- Assist Finance stakeholders in documenting risk events and issues, ensuring compliance with the Risk Framework while providing thorough 2LOD review and challenge across CLS's Risk Taxonomy.
- Collaborate with Finance stakeholders to complete business risk self-assessments and targeted operational risk assessments, emphasizing independent review and challenge.
- Ensure that the risk and control inventory is accurately represented in accordance with the Risk Framework.
- Review and challenge the design and operational effectiveness testing of key Finance controls.
- Conduct root cause analyses of identified risk events, recommending improvements to prevent recurrence.
- Analyze trends in Key Risk Indicators, incidents, and issues reported to Risk Management.
- Facilitate the identification and articulation of issues and related corrective action plans, reviewing the quality and completeness of evidence submitted by Finance stakeholders.
- Advise Finance stakeholders on addressing Quality Assurance (QA) failures for risks, controls, and issues, ensuring adherence to the Risk Management Framework.
- Promote a strong Risk Culture among stakeholders.
- Actively participate in relevant governance forums, such as the Operational Risk Council.
- Manage relationships with stakeholders at all organizational levels.
Strategic Responsibilities:
- Monitor adherence to the Framework and develop tools to communicate requirements to key stakeholders.
- Interface with senior management committees and key stakeholders.
- Collaborate with subject matter experts and executive management to ensure effective ORM governance.
- Identify and escalate operational risks that exceed the established risk appetite.
- Spot opportunities for process enhancements to drive operational efficiencies.
- Contribute to business project workstreams, providing ORM expertise and guidance.
Operational Responsibilities:
- Work with business units to establish and continuously improve risk management capabilities across CLS.
- Facilitate enterprise-wide risk assessments and provide recommendations.
- Conduct risk management training and education as necessary.
- Collaborate with business units to minimize operational issues.
Leadership Responsibilities:
- Serve as the primary contact for stakeholders, providing education on ORM topics and leading by example through timely resolutions and proactive management of deliverables.
Qualifications and Skills:
- Expertise in compliance and financial crime/anti-money laundering topics, with a strong understanding of risk areas and regulatory compliance standards.
- Proficiency in MS Office Suite, including Excel, Word, PowerPoint, Visio, RSA Archer, and reporting platforms such as Power BI or Tableau.
- A minimum of 10 years of relevant professional experience.
Our Commitment to Employees:
At CLS Group, we celebrate diversity as one of our greatest strengths. We are dedicated to creating an environment where everyone feels valued and included. Our employees benefit from a range of inclusive offerings, including generous holiday policies, parental leave, mental health support, and opportunities for professional development.
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