Operational Risk Coverage Officer (VP) recruitment
Position Description
Enterprise Operational Risk and Control (EORC) partners with the Business Units as the first line of defense for Operational Risk Management to provide a standardised, centralised and controlled Operational Risk Management execution function. The Coverage Execution group within EORC is the first point of coordination for the businesses for operational risk initiatives and management, and provides an interface for consistent communication; assistance in identifying, managing and prioritising risks and mitigation; and insight and alignment in strategic decision-making.
In order to perform this role, a high level of interaction is required with business areas at all levels of the organisation. Frequent communication with BU Risk Management is required as well as coordination with ORD, IAD, Compliance and regional EORC counterparts.
Major relevant EORC workstreams include RCSA facilitation, risk mitigation management, BU risk appetite management, taxonomy usage, ad hoc issue/loss analysis, and general risk analysis.
Key responsibilities:
--Play a key role in facilitating the completion of the Firm’s Risk and Control Self Assessment (RCSA) program, working closely with Business Unit and Support groups to complete the assessment. Facilitation involves working with the BU Operational Risk Coordinators to identify key risks and controls, evaluate inherent and residual risk, and establish mitigation plans. The candidate will also be involved in the reporting and analysis phase of the assessment where the results of the completed assessments are reviewed and escalation of risks to senior management is prepared.
--Provide input to creation of requirements documentation for IT development of key initiatives
--Day-to-day ownership of analytics to support decision making on a variety of operational risk projects
--Design a process that allows for repeatable metrics reporting as input into the monthly BU operational risk meetings
--Serve as the operational risk primary contact for remediation project tracking (RADAR), operational risk incident reporting (RITA) and internal audits
--Collaborate with BU Operational Risk Coordinators (ORCs) to ensure that operational risk related process and procedure policies are updated and communicated appropriately; Risk Officer to give input into the policies as needed.
--Provide training on various operational risk initiatives as and when required, including RCSA program training
--Provide regular updates to EORC PMO team on all relevant initiatives
--Collaborate with other work streams within EORC, for e.g. the Operational Risk Metrics program as well as ongoing review, assessment collection of Key Risk Indicators
--Participate and provide input to highlight any operational risk requirement in accordance with business and regulatory requirements that relates to internal controls and operational risk management
--Coordinate all efforts with regional EORC counterparts in EMEA and Asia
Skills Required
--Background/Training: The ideal candidate will have related experience at an investment banking institution or a background in management consulting with a track record of rapidly acclimating to a fast-paced and constantly changing environment while working under pressure.
--MS Office proficiency: The candidate must have very strong Excel and PowerPoint skills and a strong capability in visual representation of information and data, and have experience in creating management reporting views in both Excel and PowerPoint.
--Communication: Excellent oral and written communication skills and a proven ability to work in a fast-paced and high pressure environment. The ability to actively and proactively engage with key stakeholders.
--Organisation: Exceptional organisational skills, a high degree of attention to detail and a penchant for getting to the root cause of an issue.
--Problem solving: Analytical, creative, problem solving mindset. Flexibility is a key element as the role will require the ability to understand and react to changes in priorities.
--Drive: Self starter with an ability to be proactive in problem solving and analysis.
--Guardianship: Candidates should have an understanding of and strong focus on the control environment.
Skills Desired
--Business/product knowledge: Familiarity and experience with finance and the processes related to the marketing, selling and trading of securities, derivatives and/or commodities in the financial services industry is a strong plus, but is not essential.
--Understanding of operational risk and associated regulations (e.g., Basel, SOX, etc.) and the associated application to a financial services business.
--Experience with RITA/RADAR highly preferred.
Morgan Stanley is an equal opportunities employer and is committed to fair treatment, regardless of background (including criminal record).
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