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We are currently recruiting for an Operational Risk Manager (1 year contract) for our Operational Risk Management Department in Amsterdam.
Function Positioning
Operational risks are part of doing business. Although operational risks are everybody's responsibility, MBE requires organized and independent internal oversight, facilitation of the risk cycle, and advice to the organization.
Operational Risk Management (ORM) is an integral part of the MBE Risk Framework and gets increased attention within MBE and in the wider EMEA context. This is triggered by growth/complexity of the operations of MBE, focus of the regulator on ORM topics, changes in the operations, developments in the external environment and regulations that impact operational risks.
ORM is responsible for:
- Identification, assessment, monitoring and evaluation of all risks in the bank.
- Support and advice in design and deployment of the overall risk management framework, including risk culture, policies, appetite and limits.
- Challenge and escalation of risk and/or control issues to the Management Board.
ORM organizationally reports to the Chief Risk Officer (CRO). The Operational Risk Manager reports to the Head of ORM.
Main Purpose of the role:
The Operational Risk Manager will support MBE in ensuring a fit for purpose risk management approach towards the identification, assessment and management of operational risks and issues within the bank, in line with the
ORM Framework. The role is responsible for ensuring that the risk identification and assessment for a
specific set of operational risks is effective, and material risks are brought to the attention of senior management in a timely fashion with sufficient quality.
An important part of the role is to act as the ORM sparring partner towards senior management and First Line Risk Champions to guide and support them in managing their operational risks. The VP ORM acts as the business partner for several departments of MBE and amongst others ensures that
- The department is aware, and acts upon, identified material operational risks and internal incidents
- The Risk & Control Self Assessments are maintained by the department and reviewed / challenged
by ORM
- Changes in risks and controls because of projects in the departments are timely managed and reflected in the GRC system
- The department can effectively fulfil their 1LoD role and responsibilities
- The VP ORM is responsible to maintain good knowledge of current and upcoming relevant regulations, supporting MBE in planning for timely regulatory compliance on ORM
- The VP ORM actively contributes to a risk management culture which is open and considered positive and contributing to the success of MBE and MUFG.
The role includes the following:
- Support Head of ORM department in promoting risk culture in the bank.
- Take ownership for specific level 2 operational risks and act as the subject matter expert in this field towards the Management Board, relevant division heads and other stakeholders.
- Take ownership for specific business areas in the role of a business partner, ensuring that all ORM related activities are supported for that specific business areas.
- Provide expert advice and guidance to the 1st Line to ensure identification, assessment and consistent management of all material operational & IT system risks (including RCSA, SIIs).
- Monitor adherence of 1st Line to MUFG’s framework of rules and policies as well as local laws and regulations and ensure embedding of risk management principles and practices in the Bank’s daily business operations.
- Escalation of (potential) risk events or regulatory breaches in accordance with MBEs risk governance framework.
- Contribute to increased risk awareness in the organisation by providing appropriate training, instruction, and advice.
- Contribute to enhancement of (EMEA and MBE) risk management policy house, including drafting, reviewing and updating policies, methodologies, procedures and work instructions.
- Provide advice and guidance to ORM team members including motivation, support and the sharing of best practice.
- Promote changes to systems, processes and working practices to achieve operational control.
- Pro-actively develop and maintain relationships with a wide range of key contacts in all areas of MUFG.
In order to be successful in the role, you will need the following:
- Academic (master) degree in a relevant field of study, MBA or professional qualification (e.g. CPA/RA/RE) is an advantage.
- Tangible work experience (min. 8 years); the function requires wide practical experience with risk management in a regulated entity, either in 1st, 2nd or 3rd Line of Defence roles, or risk advisory roles. Good understanding of operational risk management is essential.
- Experience in IT Risk Management, Resilience, DORA and/or outsourcing risk.
- Extensive experience in developing risk assessment and maturity assessment methodologies.
- Experience around product governance in financial institution.
- Good overview of the operational risk types a bank is exposed to.
- Strong knowledge and experience of operational risk management in a licensed banking institution.
- Good understanding of relevant EBA guidelines and regulations in EU.
- Proficiency in writing and editing policy and procedural documents.
- Extensive experience of working across departments and functional fields.
- Experience in preparing presentations to senior management and regulators.
- Stakeholder management & engagement skills, ability to challenge and ask good questions.
- Experience in project management and driving initiatives.
- Fluent language skills in English.
- Preferred is also experienced in working with IBM OpenPages .
Personal requirements:
Integrity and Responsibility
- Balance Risk with Opportunity
- Customer Focus
- Demonstrate Global Perspective
Professionalism and Teamwork
- Drive For Results
- Collaborate and Build Partnerships
- Communicate Effectively and Professionally
Challenge Ourselves To Grow
- Influence and Inspire Others
- Lead Change & Seek Continuous Improvement
- Think Strategically
- Manage and Develop Talent
We are open to considering flexible working requests in line with organisational requirements.
MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.
We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.
