Operations Risk Control Supervisor - AVP

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with approximately 350 years of history, MUFG has a global network with over 2,300 offices in more than 50 countries. The Group has over 150,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.

Overview of the Department/Section:
MUFG (Mitsubishi UFJ Financial Group) is one of the world's leading financial groups. Headquartered in Tokyo and with approximately 350 years of history, MUFG is a global network with around 2,300 offices in over 50 countries including the Americas, Europe, the Middle East and Africa, Asia and Oceania, and East Asia.. The group has over 150,000 employees, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.

As one of the top financial groups globally with a vison to be the world's most trusted, we want to attract, nurture and retain the most talented individuals in the market. The size and range of MUFG's global business creates opportunities for our employees to stretch themselves and reap the rewards, whilst our common values, to behave with integrity and responsibility, and to build a culture which is fair, transparent, and honest, underpin everything that we do.We aim to be the financial partner of choice for our clients, whatever their requirements, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

MUFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: MTU) stock exchanges.  The group’s operating companies include, but are not limited to, Bank of Tokyo-Mitsubishi UFJ, Mitsubishi UFJ Trust and Banking (Japan's leading trust bank), Mitsubishi UFJ Securities Holdings (one of Japan's largest securities firms), and MUFG Americas Holdings.
Please visit our website for more information - mufgemea.com.
Department overview

Operations Control is a segregated, independent control function ensuring Transaction Processing and Clearing & Settlement Services execute appropriate control to mitigate its regulatory and operational risks.

Main Purpose of the Role:
The primary responsibility of this role is to support  the departmental manager  in supervising the core BAU control processes which support the wider Operations department on a daily basis (these processes include Reconciliations Production (Nostro/Depot/FOBO/Internal), Daily and weekly MI production and the reporting and tracking of audit requests, incidents, open actions and (internal and external) audit findings). This role requires close dialogue with the various Operations functions to ensure that control processes are known, understood and being complied with.  As well as the procedural and technical aspects, the role holder will be required to promote and develop a mind-set and culture around risk and control and progress existing control capabilities from being re-active to pre-emptive.
The role-holder will represent Ops Control across the organisation and ensure that the processes and controls applied by Ops (as a first line of defence) are aligned to the risks, policies and MORSAs which are contained within the 2nd line of defence.

Specific BAU Control responsibilities
Reconciliation production (Nostro / Depot / FOBO): Ensure that the automated recs are run within SLA timeframes and that resultant exceptions are auto-assigned to department owners in so far as possible (with manual assignation for residual items).  Any IT issues which negatively impact the recs production process should be identified early and escalated to the appropriate Tech functions for resolution.
Level 1 controls: Be responsible for ensuring that all Operations processes are supported by granular, level 1 controls.  These controls should clearly define the control function, who owns it, the criteria by which it passes or fails as well as the time by which it is due and the frequency with which it should be executed.  Controls should be agreed with the Ops functional heads and refreshed periodically (suggested at least quarterly) to ensure that the remain 'fit for purpose' and properly aligned to the risks they are intended to mitigate.
Tracking of open Control / Risk Themes: The role-holder should be responsible for monitoring all open control relates themes (i.e. open actions on ERA, internal and external audit findings, capturing and logging of incidents with the reporting deadlines specified by Operational Risk)
Client Money and Asset Reconciliation: Be responsible for ensuring that the daily reconciliation of client money and assets is performed accurately and that any discrepancies are identified and clearly articulated in the rec.  Specifically, all team members involved in the production of this rec should be adequately trained in how to complete these recs and report / escalate anything which looks unusual or they are uncomfortable with.  The primary objective should be to ensure a smooth daily reconciliation process with no breaches being recorded.
Management Information: Be responsible for overseeing the production of accurate, timely and impactful Management Information and Dashboards for both the daily and weekly MI reports.  This aspect of the role will require a continual review of existing MI that the right KRIs and KPIs are being reported, that the tolerances / thresholds are appropriate and that the MI is concise, impactful and clearly understood by the recipients.  Consideration should also be given to the intended audience and frequency of the MI reports.
Risk - Control Hierarchy: (Related to the build out of robust Level 1 controls) - 'Own' the risks which are captured in the Operational Risk ERA database, ensure they are current, relevant for the Ops processes and controls underlying them, and work towards creating the linkage between risks and controls (initially and on-going).  This aspect will evolve the MORSA refresh process from being retrospective and re-active to being dynamic and pro-active.
- Committee representation: Where appropriate, the role-holder should attend appropriate risk and control forums (internally) and represent his/her manager during periods of absence.
Financial Risk management
The role holder should have an understanding of the key financial controls that are supported by the Ops Control function (Balance Sheet attestation and Ops Book P&L sign-off) and provide cover for these periodic functions during periods of absence.
Cost / Budget Management
Manage to within the allocated cost and headcount budget for the team and identify (and execute) all opportunities to achieve cost rationalisation without introduction additional risk or complexity into the day to day processes
Leadership responsibilities
The role-holder will be responsible for supervising and developing a small team in conjunction with the departmental manager.  This will require day to day supervision of the resources and facilitation of various HR / People processes (defining job descriptions, objectives settings, mid-year and end of year appraisals, team meetings, one-on-one meetings, recruitment and staff retention, compensation reviews etc.) As well as the BAU aspects, focus should be given to development of key individuals, identification of promotion candidates, effective management of poor performers and all people related issues.
Change / Project responsibilities
- The role will require the individual to pro-actively drive and support various projects which fall directly within the remit of the Ops Control function, as well as those across the wider Ops function in which consultative or advisory participation is required (some examples include the FOBO Project, Reconciliations for MiFID II, Affiliate Clearing, Level 1 Control Technology, Implementation of additional reconciliations etc.)

Key Responsibilities:
In this role, you will be responsible for operations control across MUFG’s banking arm and securities business under a dual-hat arrangement. Under this arrangement, you will act and make decisions on behalf of both the bank and the securities business, subject to the same remit and level of authority, and irrespective of the entity which employs you.
• Supervising the Operations Control team
• Timely completion of daily reconciliations
• Level 1 control maintenance
• Tracking of open risk/ control themes
• Daily Client Money and Asset Reconciliation
• Supporting the Department manager in completing BAU requirements and achieving departmental goals

Direct Reports:
• A team of 4

Skills and Experience:
Functional / Technical Competencies:
• Understanding of the securities business and the attendant reconciliations processes
• Exposure to Operational risk and control processes and monitoring
• Knowledge of Intellimatch, Murex, Gloss  and Apex– (beneficial but not essential)
• Understanding of CASS rules

Work Experience:
• At least 2 years previous experience  in a supervisory role
• Previous experience of working in the Operations department of  an Investment Bank

Personal Requirements:
• Excellent communication skills
• Results driven, with a strong sense of accountability
• A proactive, motivated approach.
• The ability to operate with urgency and prioritise work accordingly
• Strong decision making skills, the ability to demonstrate sound judgement
• A structured and logical approach to work
• Strong problem solving skills
• A creative and innovative approach to work
• Excellent interpersonal skills
• The ability to manage large workloads and tight deadlines
• Excellent attention to detail and accuracy
• A calm approach, with the ability to perform well in a pressurised environment
• Strong numerical skills
• Excellent Microsoft Office skills
• Understanding of the securities business and the attendant reconciliations processes
• Exposure to Operational risk and control processes and monitoring
• Challenges status quo
• Effective delegation skills
• Inclusive – offers the opportunity  and encourages  opinions to be voiced
• Robust networking skills
• Robust Conflict resolution skills

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