Business Control Specialist, Global Derivatives Operations

Company Overview

Our Client is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.
The company is a long-established participant in the European marketplace, with a presence since 1922. With offices throughout Europe and CEEMEA, the company offers an integrated and comprehensive set of products and services across all businesses, serving the needs of individual, corporate, institutional and government clients, by combining the best of local knowledge and international expertise.

Job Description

Provide analytical support in executing internal control discipline and operational excellence within a LOB/ECF. Gather and organise data in order to monitor and test the effectiveness of key controls and status of mitigation and action plans. Prepare documentation for the tracking, monitoring, and escalation of risk related issues to management. Acts as an ambassador of the risk culture. Incumbents typically have over 5+ years of risk management and/or Line of Business (LOB) /ECF experience. May manage staff.

Key Responsibilities
Provide Operational Risk and Control support for the FX and Listed Derivatives LOBs based in Chester. This will include the following:
1. Challenge the Derivatives Operations Risk Management Risk Management Framework
• Challenge and test aspects of the Risk Control framework that is in place across the LOB to ensure that they are being correctly implemented and are effective tools for tracking, measuring and reducing risk in Operations
2. Risk Assessment
• Identify new risks in Operations processing for which there are currently no mitigating controls in place.
• Identify control processes that are failing, inadequate or inconsistently applied, resulting in an in ability to fully mitigate the risks for which they were originally intended.
3. Post implementation reviews
• Perform an analysis of a recently implemented process or mitigating control to ensure it has been fully and consistently implemented across the LOB.

Additional Responsibilities :

• Produce and maintain risk heat maps of operations processes to maintain overall awareness of the LOB risk environment and to escalate as necessary.
• Promotion of risk awareness and high quality risk routines with the LOB to drive up quality and consistency
• Perform analysis to identify new risks and failing controls within the LOB
• Proposed effective solutions to mitigate risks and rectify controls that add value to the business by genuinely mitigating risk
• Identify focus areas within the LOB for targeted risk mitigation investigations
• Lead and coordinate investigations into LOB incidents and share learning across business functions
• Chair monthly LOB risk control forums to concentrate LOB focus on risk mitigation and re-mediation.
• Produce concise risk management opinions detailing findings and recommendations
• Build relationships with global Operational Risk Control management and Internal Audit.
• Work with Change management and IT to work on tools that both identify themes or trends in control issues and to assist with risk identification.
• Represent the LOB in risk control related global initiatives and policy implementations.
• To be abreast of process migrations to ensure that these occur in a controlled manner.
• Assist the LOB in audit preparation and audit management
• Be the point of reference and act as a trusted advisor to the LOB in the identification of issues and in the formation of preventative mitigation plans.

January 22, 2014 • Tags:  • Posted in: Financial

Leave a Reply

You must be logged in to post a comment.