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Asset Management - Operational Risk Vice President - Shanghai



Shanghai, China
Posted on Thursday, July 11, 2024

Job Description

Job Summary:

As a Vice President within the Operational Risk team, you will be responsible for supporting the operational risk function for the Asset Management business in China. You will be a part of the Compliance, Conduct and Operational Risk (CCOR) group, maintaining oversight of the firm’s compliance, conduct, and operational risk management activities. You will be responsible for the design and execution of a comprehensive Risk and Control framework. As a second Line of Defense (LoD) function, you will proactively manage operational risk to defend the firm against the negative impacts of operational errors.

Job responsibilities

  • Provide oversight to the business’ management of operational risk including reviewing and challenging risks, processes and controls identified by the first Line of Defence (LoD) and escalate where required.
  • Independently assess operational risks and control environments and raise issues for the first LoD to remediate where relevant. Assessments are done through quantitative and qualitative means including - periodic risk assessments (at the legal entity and risk stripe levels)- review of performance against Key Performance Indicators- collaborating with the CCOR Testing team to test the effectiveness of controls.
  • Provide operational risk oversight in key governance forums; escalate to committees and liaise with regulators as needed.
  • Understand and assess key and emerging operational risks for the business regionally including staying abreast of industry news, incidents and regulatory developments to facilitate proactive risk identification and mitigation.
  • Determine the entity specific Operational Risk Monitoring and Testing program, and define testing approaches.
  • Liaise with key stakeholders across first, second and third LoD including engaging on the results of any monitoring and testing activities.
  • Identify and assess the Operational Risks for all new business initiatives developed by the business, including challenging the appropriateness of processes and controls, and determining pre-go live requirements.
  • Provide timely and relevant information through appropriate reporting mechanisms (scorecards, dashboards, monthly management meetings). Design rich data visualizations to communicate complex ideas. Consolidate bullet points in this section.

Required qualifications, capabilities, and skills

  • Minimum bachelor’s degree with at least 8 years experience, in risk management, control management, product control, compliance and audit in the financial industry
  • Fund Qualification License
  • Curiosity and an interest in understanding how businesses work and effectively manage risk
  • Excellent interpersonal and communication skills including effective interaction with senior management
  • Good analytical and problem-solving skills, with the ability to break down complex business processes, analyze potential risks and think outside the box
  • Able to make independent decisions and work with limited supervision while exceling in a dynamic, demanding environment
  • Strong influencing and stakeholder management skills with the ability to drive change
  • Self-motivated with the ability to multi-task, prioritize and thrive in a fast-paced and evolving environment

Preferred qualifications, capabilities, and skills

  • Knowledge of Asset Management business and products (such as fixed income and equities, deposits and banking, lending, investment management, funds and alternatives)
  • Solid command of written and spoken English and Chinese (Mandarin)