Description
Background:
Operational Risk refers to the risk of financial or other loss, or potential damage to a firm's reputation, resulting from inadequate or failed internal processes, people, systems, or from external events (eg, fraud, legal and compliance risks or damage to physical assets).
The Firm has developed an Operational Risk Management Framework to identify and assess significant operational risks and ensure appropriate mitigation actions are undertaken. The Framework is deployed across Business Units, Infrastructure Groups and Control Functions globally, regardless of Region or Legal Entity.
Position Description:
Seeking a Risk professional for EMEA ORD to assist with the execution of a framework to provide oversight over Outsourcing activities pursued by Business Units in the EMEA region. This position will be based in London (20 Bank Street) and forms part of the Supplier Management Programme within the Assessments, Framework and Data team.
Business Units work in conjunction with independent Firmwide functions to manage and mitigate operational risks associated with Outsourcing. With an extensive framework of policies, procedures and agreements covering third-party and internal inter-affiliate Outsourcing arrangements.
Responsibilities:
Specific responsibilities include:
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Assist with operationalizing the EMEA Outsourcing Governance Committee, including gathering materials for the meetings and facilitating the meetings on a periodic basis
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Work with Firmwide groups (corporate services, procurement) to understand the Outsourcing processes front-to-back followed by the various Business Units in EMEA, including understanding the transition process as well as the ongoing management process of outsource locations
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Work with Firmwide groups (such as Corporate Services and Sourcing) to provide transparency into Outsourcing pursued by EMEA Business Units and Functions
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Monitor progress of various Outsourcing initiatives and report to local management
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Review issues and incidents to identify themes related to Outsourcing and feed those into framework enhancement
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Build solid working relationships with Business Unit stakeholders to promote awareness of Outsourcing, to conduct training and perform oversight
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Provide monthly & quarterly reporting to internal ORD management and firm/region wide Boards and Committees
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Assist with identifying the outsourcing implications to UK regulated legal entities from firm's New Product Approval process
Skills Required:
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Bachelors degree or equivalent, ideally in a quantitative discipline, Finance, Economics or similar
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Prior experience with Outsourcing or supplier risk management desirable
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Financial services experience, ideally in a capital markets focused business, desirable
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Work experience in operational risk/control based roles, ideally within a financial services environment
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Good understanding of banking regulation, especially relating to operational risk management, highly desirable
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Analytical and logical problem solving
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Confidence to take ideas forward and to challenge others, where appropriate
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Strong organization skills with the ability to multitask and prioritise; ability to work under pressure and to tight deadlines
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Excellent communication skills, both verbal and written; ability to produce concise and effective presentations
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Ability to work in a small team environment, building and maintain a network of contacts and coordinating with a large number of stakeholders
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Proficiency in Microsoft Excel, PowerPoint and Word