Embedded Risk Director

Being a member of the Clearing & Securities Services Team, the Embedded Risk Manager strengthens the role of the first line of defense by challenging product management and general management of risks, including its effort to identify, assess, respond to, and report and monitor risks. In this role, the Risk Manager challenges management's assessment of internal control effectiveness by ensuring management's adherence to control testing framework, issue management framework (including self-identified issues), and identified issues resulting from audits or regulatory exams, and partners with management on risk response strategies (mitigate, control, accept, remediate, etc.) to ensure the strategies sufficiently address identified risks, whether internal or external
 

Your Primary Responsibilities:

• Responsible for the production and maintenance of the CSS Risk Assessments, in addition to the supplemental monthly and quarterly risk reports for each of the respective Legal Entities.
• Monitoring and managing of key risks in the existing business lines and new products to ensure that the highest quality and most relevant risk data is captured, aggregated, analyzed, and reported as part of the overall risk assessment process.
• Execution of the risk management framework, including the identification, assessment, monitoring, and reporting of risks associated with applicable business area in alignment with the enterprise strategic priorities and performance management framework, and the Corporate Risk Framework Policy.
• Aligns risk and control processes into day-to-day responsibilities to mitigate, monitor, and escalate risks appropriately, including the timely resolution of incidents.
• Works with the New Initiatives Office (NIO) and Product managers in the development of the new offerings to gain reasonable assurance that the necessary controls are in order and that all pertinent scenarios that may impact the initiative have been thoroughly reviewed.
• Issue and Action Plan life cycle management (i.e. Engagement on the creation of MSIs, ensure actions plans optimally remediate issue, monitor timely remediation progress, and review of issue and action remediation, and oversight of the closure process for sustainability)
• Monitor the monthly Issues and Action Report (i.e. MSI Metric requirement) and assess issues resulting from Audits to determine if they should have been self-identified
• Complete the Annual Sustainability reviews for both internal (direct/indirect) and external sourced action plans
• Supervise the timeliness of Issues and Actions and establish critical issue protocol for items at risk for being past due
• Perform review, challenge, and ensure consistent workflow quality control of issues both self-identified, as well as those resulting from risk assessments (include lessons learned and scenario analysis), and risk incidents
• Perform quality review of Process, Risk, and Control data to ensure GRC foundational elements are periodically refreshed to reflect current procedures for oversight and consistency
• Oversee the execution of Business Management and service providers testing of internal controls, provide review and challenge of test scope, test methods, test procedures, and evaluation of results
• Deliver periodic risk management and control training to Business Management and support teams
• Liaise with Governance, Risk, and Compliance Program to adopt key risk management objectives as they are pursued and enacted
• Lead the Regulatory Reporting process and requirements with key partners for timely and accurate submissions
• Act as metrics and reporting for management risk reporting (including Board and Risk committee materials)
• Mitigates risk by following established procedures, spotting key errors and demonstrating strong ethical behavior

**NOTE:  The Primary Responsibilities of this role are not limited to the details above. **

Qualifications:

• Minimum of 10 years of related Risk Management and Audit experience
• Bachelor's degree preferred or equivalent experience

Talents Needed for Success:

• Keen partner engagement with the ability to navigate and influence complex matrix organizations
• Build and maintain relationships with key collaborators locally, regionally, and globally as appropriate
• Be a change ambassador and drive forward improvements
• Proactive and laser focused on cultivating a risk mentality
• Execution and delivery focused in a fast-paced environment
• Collaborate with the team and all 3 lines of defense
• Not afraid to effectively challenge the status quo