Operational Risk Associate

International bank seeks an Operational Risk professional. The firm is involved with capital markets, banking and brokerage.
 
The Operational Risk Associate (OR) will be involved with the implementation of  policies and procedures for the assessment, monitoring and management of the operational risks. The position is an officer level role in the Operational Risk department.
 
He/she will be involved with the following:
 
Management of risks and reporting
·          Establish and designate appointments of OR correspondents within the business lines
·          Secretary for the meeting of the OR committee of the business lines
·          Prepare, in cooperation with the OR correspondents, the required reports at the business line level
·          Provide operational oversight for the business line (e.g. identification of regulatory texts specific to the business line related to operational risk) and analyze their impacts on the business line’s products
 
Standards and methods
Deploy together with the OR correspondents the policies and procedures applicable at the business line level
 
Risk mapping
Keep the risk mapping for the business line up to date on the basis of regular review conducted with the business lines
Periodically update the environment variables and verify the appropriateness of the KRI thresholds
Propose action plans to reduce risks and define the groups accountable for their follow up
Record the progress of the action plans
Calculate the OR VaR
 
Collection of incidents and losses
Verify the completeness of collection of incidents with the OR correspondents and the reliability and consistency of the information recorded.  Consolidate the information and produce reports for the business line and the OR department
For serious incidents, conduct in-depth investigations in close collaboration with the OR department and produce a detailed report clearly establishing the causes of the incident, the temporary measures adopted and the proposed preventative actions