Operational Risk Manager - Investment bank

Job Number: J0726-0186 Job Type: Full Time Job Category: Information Technology Salary: Open

Operational Risk Manager - Investment bank

Operational Risk Manager



About the Company



An international financial institution is seeking a Banking Controller for its Canadian Branch. The organization operates globally across Europe, the Americas, Asia-Pacific, the Middle East, and North Africa, supporting corporate and institutional clients with a broad range of financial services.

The Canadian branch has offices in Montreal and Toronto and provides financial services to Canadian financial institutions, banks, pension funds, and large multinational corporations.



Job Summary: Operational Risk professional (1LoD or 2LoD) with at least 7 years of experience, knows and understands well Corporate Investment Banking (CIB) products and services, has experience dealing with regulators, and ability to lead and drive change for effective operational risk management



Understanding processes, risks, and related controls within Middle Office / Back Office functions and related support functions such as IT, Finance, Risk, Compliance, etc. is preferred. Expertise and versatility with PC tools and applications: MS Office, PowerPoint, and data visualization tools like PowerBI is also preferred.



Title: Operational risk manager

Location: Downtown Montreal

Work model: Hybrid, 2 days remote work allowed

Type of position: Full time and permanent

Salary: 130k + 20% bonus + 4 weeks’ vacation. They offer a great benefits package. RRSP matching, you contribute 2% and they contribute 8%.



Primary Function:



Reporting regionally to the second-line Function / Department within the banks's NY Branch, the Operational Risk Manager (ORM) will have management responsibility for related monitoring, reporting, and surveillance of all business-line / support functions (BL/SF) within their scope in terms of: Incident / Loss identification; Control Indicators / Metrics; Risk and Control Self-Assessments (RCSAs); Action Plan monitoring; Governance and reporting, etc. related to the Canadian entity.



Depending on their expertise and background, the ideal candidate will have some knowledge of and familiarity with other types of specific non-financial risks such as Compliance, Cybersecurity, Third-Party Risk Management, and or Data Quality / Governance.



What you will do:



Applying a risk-based approach, the Operational Risk Manager (ORM) will work closely with the Canadian First Line of Defense (1LoD) within their assigned scope of responsibility to ensure that incidents and losses are accurately recorded in the Olimpia tool, appropriately escalated, and that control gaps are identified and effectively remediated. Strong attention to detail, as well as a solid understanding of CIB products and business priorities, is essential to ensure accurate and timely reporting.
The ORM will ensure that appropriate risk metrics, including Key Risk Indicators (KRIs) and Key Control Indicators (KCIs), are established to effectively measure risks and control performance. The role also involves regular coordination with the Paris Head Office Operational Risk Management team and BL/SFORM teams, including oversight of local indicators as well as those required by Head Office through the Olimpia and, going forward, COSMOS platforms.
The ORM will periodically prepare, review, and challenge the First Line of Defense regarding their Risk and Control Self-Assessments (RCSAs). While the 1LoD remains the owner of the RCSAs, the ORM is responsible for ensuring the accuracy and timely reporting of key processes, associated risks, and key controls.
Maintaining strong working relationships and effective communication with Operational Risk Representatives (ORRs) within the First Line of Defense is a key responsibility. The ORM will also collaborate with other Second Line of Defense (2LoD) functions, including Market Risk, Credit Risk, Compliance, and Third Line of Defense Audit. Where applicable, coordination with the Enterprise Risk Management function supporting Combined US Operations (CUSO) will also be required.
The ORM will contribute to governance activities by participating in and presenting at the Internal Control Committee (ICC), also known as the Operational Risk Committee, as well as contributing to the CUSO US Risk Committee (USRC) for the CASA Group, where applicable. Additional reporting responsibilities include contributing to semi-annual and annual Internal Control reports for Head Office, supporting the Permanent Control Committee (PCC) held six times annually, and organizing and managing periodic Internal and Permanent Control Committees for the Canadian branch and entity.
Depending on the assigned Business Line (BL) or Support Function (SF) scope, the ORM will participate in various First and Second Line of Defense committees to gain a comprehensive understanding of the bank's operational risks while providing independent and effective challenge on identified issues. Insights gained through these committees will also contribute to enhancing the quality and content of management information and reporting.
The ORM will support interactions with regulators and the Inspection Générale (IGE) during periodic reviews and assessments of the Second Line of Defense. This includes assisting with evaluations of key risk areas, control issues, operational threats, vulnerabilities, and incidents that have occurred during the reporting period.
Finally, the ORM will balance and manage the operational risk framework and methodology requirements established by Head Office while ensuring compliance with the expectations of local management and Canadian and regulatory authorities.


Position Requirements:



Bachelor minimum in related field.
Operational Risk Professional with at least 7 years experience.
Solid knowledge and understanding of CIB products, services, and functions.
Excellent analytical, communication, organizational, and interpersonal skills
Entrepreneurial, results oriented team player who is constructive, promotes collaboration, and is able to manage disagreement
Effective presentation and communication skills and comfortable leading discussions at all levels of the bank including local management committee
Effective handling of regulatory requests and in periodic meetings with regulators
Ability to work independently and collaboratively across all functions
Needs to be very rigorous in terms of analyzing and reporting
Excellent sense of urgency and prioritization and ability to demonstrate effective challenges where necessary
Expertise and versatility with PC tools and applications: MS Office, Advanced Excel, PowerPoint, Visual Basic is preferred.
Familiarity with data visualization tools like Power BI is a plus
English speaking, reading and writing. French is a plus

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