Operational & Credit Risk Manager, Vice President – Treasury Services recruitment
On average, 395,000 funds transfers valued at $3.1 trillion are settled daily through USD Clearing.
Foreign Exchange (FX) transactions are payments and receipts where the currency of the transaction is different from the currency of the underlying account.
Funds Transfers are same-day transactions, typically used to effect urgent payments that need finality; consequently, such payments are final and irrevocable intraday.
There are also a number of regulatory requirements which must be considered with UCC4A, Travel Rule and OFAC.
Further, with the volatility in the market, errors or delays in processing FX transfers could result in substantial financial loss due to rate fluctuations.
Consequently, this Risk Manager position is critical in order to build and administer a team to effectively support daily management and strategy of the USD Global Clearing and FX businesses, including a comprehensive risk management and compliance program to ensure internal controls are appropriately designed and operating effectively to mitigate risks.
Primary responsibilities include:Effective partnering with business and functional colleagues to guide consistent and rigorous JPM risk management framework and practices, including
new business initiative approval process, control self assessments, risk event analysis and risk
management reporting.Thought leadership and risk advisory to enable USD Global Clearing and FX business groups to develop an appropriate balance between risk and rewardIndependent identification, assessment and mitigation of risk issues, including credit, operational, market and fiduciary risksDevelopment of standard product credit structures and credit policies, oversight of implementation of credit controls within the business and guidance on deal structuring, in particular on exceptions to standardsEscalation point
and leadership in prioritization for risk issues relating to USD Global Clearing FX activitiesSponsorship for aspects of key projects related to risk issues and for target deep dives on risk issuesEffective partnering with other regional Core Cash Management risk managers and functional partners (Legal, Compliance, Controllers, Audit, IRM) to ensure consistent and efficient risk management framework and approachIndependent assessment of the content and quality of Control Self Assessments (CSAs) and global New Business Initiatives (NBIs)Proactively develop and provide risk management training on USD Global Clearing and FX productsActive member of the USD Global Clearing and FX management teams
Qualifications
Bachelor's DegreeExtensive corporate banking and relevant risk experience; strong credit risk skills a plusAbility to form strategic views and frame recommendations based on risk assessmentExcellent decision making skills and judgment;
Excellent influencing and communication skills, both written and verbalAbility to successfully lead/execute collaborative efforts with partners who different backgrounds, skill sets and prioritiesAbility to deal with multiple tasks and requests in a fast paced and evolving environment, and to prioritize conflicting and multiple requestsStrong talent management, with ability to provide coaching to staff