CIB - Americas Operational Risk Oversight (ORO) - VP
- New York, NY, USA
- Permanent, Full time
- 24 Sep 16
CIB - Americas Operational Risk Oversight (ORO) - VP
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com .
The CIB Americas Operational Risk Oversight team is committed to meeting regulatory requirements relating to Operational Risk, overseeing implementation of OR standards and providing measurable value to stakeholders through supporting a more tangible understanding of their inherent and residual risk profiles. The ORO team is an independent oversight function in the 2 nd Line of Defense, working in close partnership with Oversight & Control (1 st LOD), Compliance (2 nd LOD) and Audit (3 rd LOD).
The Operational Risk Oversight VP will need to swiftly become adept with the Bank's Operational Risk Management Framework (ORMF), and assist the Americas Operational Risk Oversight (ORO) team by analyzing operational risk management information. The Operational Risk Oversight VP will work with team members to oversee the OR strategy and framework in the Americas covering all CIB businesses and functions. The individual will assist the Americas ORO team with the day to day oversight of the OR framework, working closely with businesses to ensure that it is implemented and is functioning effectively, while supporting the team on various Operational Risk initiatives. The ORO VP will also develop a clear understanding of operational risk events, residual risk profiles, and remedial strategies.
The ORO VP will also provide support for and help drive implementation of a diverse range of global and regional ORO projects as well as respond to requests from various stakeholders including, for example, internal Auditor or senior management.
- Assist with the identification, assessment, measurement, mitigation, and monitoring of operational risk through consumption of information from risk events (internal and external), risk assessments, and scenario analysis.
- Provide analytical support to the ORO team to facilitate root cause analysis of issues and risk trend reporting.
- Partner with senior team members to provide ORO coverage of all lines of business/functions across the CIB.
- Perform deep dive analysis to identify themes and trends in areas of emerging risk.
- Assist with ORO presentations for various constituents and levels of management.
- Gather and analyze data, reports, and other documentation to determine inefficiencies, gaps in process/procedure, and data integrity.
- Understand and comply with Operational Risk Policies, Standards, and Procedures.
- Work closely with other Risk Management groups and key control functions including Compliance, Audit, and Oversight and Control (O&C).
- Seek, develop, and facilitate strong working relationship with control partners.
- Support the Business on risk assessment of change initiatives across the Americas, providing oversight on a portfolio view of change initiatives - as well as working with Technology and Corporate Operational Risk (COR) to ensure that ORO remains aware of business change, relevant to the risk decision making process, and a trusted partner to change initiatives.
- Stay abreast of industry news and regulatory developments to facilitate a more proactive approach to risk identification and mitigation. Review root cause analysis on internal operational risk events and those that occurred externally in the industry
- Promote and instill a strong culture of ORM and operational excellence, partner with the business to continually improve OR processes and business operating models supporting safe business growth and informing risk related decision making
- Review high risk new business initiatives and off shoring/outsourcing activities
- Independent challenge - challenging, validating and endorsing business risk profiles and providing constructive challenge to the business where residual risk levels are deemed to exceed appetite
- Collaborate and coordinate closely with Business Control Officers to ensure OR standards are communicated, understood and applied consistently - review adherence to ORMF, governance, standards, policies & framework across LOBs, functions and countries
- Participation on, and oversight of, monthly Regional/LOB/Functional Operational Risk Forums
- Promoting function consistency and adoption of best practice
- Business colleagues, predominantly in Corporate & Investment Banking
- Oversight & Control (1 st LOD)
- Audit - Internal & External
- Corporate Operational Risk - Framework & Governance
- Operational Risk & Control Committee Members
- LOB/Functional Control Committee Members
Skills & Qualifications
The successful candidate will be a motivated, experienced, and hands-on professional seeking a broad and dynamic role in Operational Risk. He/she should demonstrate understanding of Operational Risk, have relevant product/business knowledge, and technical and risk & control experience gained within an international financial institution or financial services firm.
Applicants should possess excellent interpersonal, communication, stakeholder and relationship management skills as the role requires interaction with personnel across all levels of experience and seniority. The successful candidate will also need to have the proven ability to balance strategic activities within the team, with a focus on day to day execution. They will need to foster strong relationships with key stakeholder groups including global ORO teams, CIB Risk teams, Corporate Operational Risk, Oversight & Control and first line business groups/leaders.
Applicants will need to demonstrate a solid understanding of the general operation of international financial markets, international trade, and the conduct of business on a cross border basis as well as a deep understanding of the workings of a financial institution and knowledge of the regulatory environment in the financial services sector.
- Requires a minimum of 6 years of financial services experience within a Risk, Finance, Operations, Audit and/or Compliance discipline.
- Bachelor's degree in a relevant field and experience within the financial services industry are required.
- Good understanding of the trade lifecycle.
- Experience in risk identification, sampling methodologies and control testing, control evaluation, the control self-assessment process, audit processes, and using key risk indicators.
- Proficiency with the Microsoft Office product suite is required; Word, Excel, PowerPoint, and Visio.
- Hands-on experience with Operational Risk Management systems is preferred.
- Ability to communicate ideas in a clear, concise manner across all levels of the team and management.
- Creative self-starter with strong initiative, ability to take ownership and work independently.
- Good planning, coordination, and implementation skills - and the ability to work across businesses and functions.
- Excellent analytical and problem solving skills, as well as time management and prioritization skills.
- Demonstrated success in working collaboratively with people across the organization.
- Experience implementing change and business process improvement.
- Ability to understand business functions quickly, assess the operational risk impact of control issues, communicate findings, and develop recommendations for resolution.
- High level of professionalism, self-motivation, and sense of urgency.
- Proven ability and desire to learn quickly, be flexible, and think strategically. Strong theoretical and practical knowledge of OR - practical experience in applying and managing an OR framework in financial services.
- Understanding of regulatory requirements as they relate to best practice risk & control.
- Strong appreciation of governance.
- Role is based in New York / midtown Manhattan.