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Enterprise Risk Management - Wholesale Payments Risk Management (WPRM) AVP

Enterprise Risk Management - Wholesale Payments Risk Management (WPRM) AVP

Bank of China USANew York, NY, US
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Bank Of China New York

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 AVP will manage the Wholesale Payments (WP) Risk in executing and overseeing the WP risk management in Settlement and Custody, oversighting the front business units' WP 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 WP Risk Committee
  • WP project management office for the department
  • Build of strong governance in WP risk management
  • Management of internal audit and regulatory matters

Program Execution

  • Develop, execute and enhance of the Branch-wide WP risk management
  • Review, update and maintain all WP related policies and procedures
  • Execute WP risk management processes to identify, measure, monitor, manage and report risks
  • Ensure the effective implementation of the Branch's WP risk management through training, awareness and monitoring
  • Promote sound WP risk culture across the Branch by supporting and providing oversight to the first line of defense through various WP risk management
  • Review and challenge WP risk assessments conducted by both FLUs and IRM
  • Develop WP risk reports, and provide recommendations to remediate identified deficiencies
  • Ensure a timely and efficient remediation plan is developed for WP risk management issues, and oversee the implementation of rectification
  • Implement and ensure execution of the exception management process
  • Risk Analysis and Reporting

  • Aggregate WP risk profile utilizing the appropriate methodology
  • Ensure ongoing communication of risk initiatives to the relevant committees
  • Respond to regulatory inquiries related to WP risk management
  • Management

  • Provide training, feedback and professional development opportunities to team members
  • Execute and ensure adherence to all policies and procedures impacting WP 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 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 WP Risk Management framework
  • Pay Range

    Actual salary is commensurate with candidate's relevant years of experience, skillset, education and other qualifications.

    USD $65,000.00 - USD $150,000.00 / Yr.

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    Risk Management • New York, NY, US

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