Enterprise Risk Management - Payments Risk VP
Apply NowCompany: Bank of China Limited, New York Branch
Location: New York, NY 10025
Description:
Introduction
Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.
Overview
Bank of China New York ("BOCNY" or the Bank) Enterprise Risk Management Department ("ERM") is responsible for managing the Bank's enterprise risk as a function of second line of defense according to the Bank's risk governance framework. The VP will manage the Payment Systems Risk in executing and overseeing the Payment Systems risk management in Settlement and Custody, oversighting the front business units' Payment Systems risk management, and ensuring the Bank's risk exposure within risk appetite, and protect the Bank with safe and sound risk management.
Responsibilities
Risk Governance
-Administrator of the Payment Systems Risk Committee
-Payment Systems project management office for the department
-Build of strong governance in Payment Systems risk management
-Management of internal audit and regulatory matters
Program Execution
-Develop, execute and enhance of the Branch-wide Payment Systems risk management
-Review, update and maintain all Payment Systems related policies and procedures
-Execute Payment Systems risk management processes to identify, measure, monitor, manage and report risks
-Ensure the effective implementation of the Branch's Payment Systems risk management through training, awareness and monitoring
-Promote sound Payment Systems risk culture across the Branch by supporting and providing oversight to the first line of defense through various Payment Systems risk management
-Review and challenge Payment Systems risk assessments conducted by both FLUs and IRM
-Develop Payment Systems risk reports, and provide recommendations to remediate identified deficiencies
-Ensure a timely and efficient remediation plan is developed for Payment Systems risk management issues, and oversee the implementation of rectification
-Implement and ensure execution of the exception management process
Risk Analysis and Reporting
-Aggregate Payment Systems risk profile utilizing the appropriate methodology
-Ensure ongoing communication of risk initiatives to the relevant committees
-Respond to regulatory inquiries related to Payment Systems risk management
Management
-Provide training, feedback and professional development opportunities to team members
-Execute and ensure adherence to all policies and procedures impacting Payment Systems Risk Management
-Ensure adherence to Branch policies and procedures
-Support with the execution of department strategic objectives
Qualifications
-Bachelor degree required; Master's degree preferred
-Minimum 5 years of Banking work experience
-Minimum 5 years of Risk Management experience
-Minimum 3 years of Wholesale Payments, Retail Payments or Custody experience
CFA/CPA/FRM/MBA/PMP preferred but not required
-Bilingual ability in English and Chinese preferred
-Demonstrate Regulatory and compliance knowledge and Financial / banking industry and business line knowledge
-Demonstrate knowledge in Operational and/or Payment Systems Risk Management framework
Pay Range
Actual salary is commensurate with candidate's relevant years of experience, skillset, education and other qualifications.
USD $110,000.00 - USD $230,000.00 /Yr.
Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.
Overview
Bank of China New York ("BOCNY" or the Bank) Enterprise Risk Management Department ("ERM") is responsible for managing the Bank's enterprise risk as a function of second line of defense according to the Bank's risk governance framework. The VP will manage the Payment Systems Risk in executing and overseeing the Payment Systems risk management in Settlement and Custody, oversighting the front business units' Payment Systems risk management, and ensuring the Bank's risk exposure within risk appetite, and protect the Bank with safe and sound risk management.
Responsibilities
Risk Governance
-Administrator of the Payment Systems Risk Committee
-Payment Systems project management office for the department
-Build of strong governance in Payment Systems risk management
-Management of internal audit and regulatory matters
Program Execution
-Develop, execute and enhance of the Branch-wide Payment Systems risk management
-Review, update and maintain all Payment Systems related policies and procedures
-Execute Payment Systems risk management processes to identify, measure, monitor, manage and report risks
-Ensure the effective implementation of the Branch's Payment Systems risk management through training, awareness and monitoring
-Promote sound Payment Systems risk culture across the Branch by supporting and providing oversight to the first line of defense through various Payment Systems risk management
-Review and challenge Payment Systems risk assessments conducted by both FLUs and IRM
-Develop Payment Systems risk reports, and provide recommendations to remediate identified deficiencies
-Ensure a timely and efficient remediation plan is developed for Payment Systems risk management issues, and oversee the implementation of rectification
-Implement and ensure execution of the exception management process
Risk Analysis and Reporting
-Aggregate Payment Systems risk profile utilizing the appropriate methodology
-Ensure ongoing communication of risk initiatives to the relevant committees
-Respond to regulatory inquiries related to Payment Systems risk management
Management
-Provide training, feedback and professional development opportunities to team members
-Execute and ensure adherence to all policies and procedures impacting Payment Systems Risk Management
-Ensure adherence to Branch policies and procedures
-Support with the execution of department strategic objectives
Qualifications
-Bachelor degree required; Master's degree preferred
-Minimum 5 years of Banking work experience
-Minimum 5 years of Risk Management experience
-Minimum 3 years of Wholesale Payments, Retail Payments or Custody experience
CFA/CPA/FRM/MBA/PMP preferred but not required
-Bilingual ability in English and Chinese preferred
-Demonstrate Regulatory and compliance knowledge and Financial / banking industry and business line knowledge
-Demonstrate knowledge in Operational and/or Payment Systems Risk Management framework
Pay Range
Actual salary is commensurate with candidate's relevant years of experience, skillset, education and other qualifications.
USD $110,000.00 - USD $230,000.00 /Yr.