Vice President of Operational Risk Management, Client Onboarding

(This role requires a combination of either 1st or 2nd line of defense operational risk management experience, coupled with client-onboarding experience)

Our client, a leader in wealth management and investment banking, is seeking to hire a VP of Operational Risk Management for their newly formed Transaction, Execution, and Processing Risk (TEPR) team (This role is of a similar level to an Executive Director position at most major banks).

Position Overview:

The TEPR team is a 2nd Line of Defense team with a focus on independently overseeing and challenging the execution & processing risks of transaction lifecycles of the Firm.

We are seeking a Vice President of Transaction, Execution, and Processing Risk to support the team’s efforts in managing the transaction-related operational risks across the Firm, specifically in regard to client onboarding.

This role requires a deep understanding of financial transaction lifecycles as well as an understanding of a financial institution’s operational risk management framework elements. The successful candidate will provide subject matter expertise and set the strategic direction in managing transaction, execution, and process risks of the Firm, oversee the proper execution of the Firm’s ORMF, and collaborate with senior stakeholders within the Risk Division and across relevant business Segments of the Firm.

Responsibilities:

• Contribute to the development, implementation, and maintenance of the firm’s strategy for managing transaction, execution, and processing risk, aligning with the Firm's overall risk management framework
• Understand the process flows of the Firm’s transaction lifecycles across multiple business Segments
• Set minimum controls requirements for transaction lifecycle activities
• Identify, analyze, and challenge transaction execution and processing risks with a horizontal view across the business segments
• Utilize data analytics and reporting tools to support the 2LoD analyses and challenges
• Establish a 2LoD metrics program to support a qualitative/quantitative to maintain ongoing monitoring, triggers, escalation, and mitigating actions of the relevant control vulnerabilities and risk profile changes
• Evaluate the impact and likelihood of risks, as well as review the adequacy and effectiveness of existing controls and recommend enhancements
• Perform detailed reviews of TEPR-related incident trends to identify significant risks or control deficiencies and ensure remediation of issues comprehensively and timely.
• Prepare and present comprehensive risk profile reports to senior management, highlighting key risk themes, trends, and strategic recommendations.
• Develop presentation materials and conduct sessions to educate staff on transaction execution and processing risks
• Raise awareness about risk management practices and promote a risk-aware culture across the organization
• Mentor and guide a team of risk managers, fostering professional growth and skill development
• Provide subject matter expertise during internal and regulatory audits and examinations as well as thought leadership within the organization.

Qualifications and skills:

• Bachelor’s degree or equivalent required
• Master's degree in Finance, Business, Risk Management, or a related field; professional certifications in risk management (e.g., FRM, CIA) are desirable but not mandatory
• 10+ years of experience in operational risk management, with subject matter expertise in managing transaction, execution, and processing risk or related areas within the financial services industry
• Proven track record of leading and managing operational risk management frameworks within the financial services industry
• Familiarity with enterprise risk management best practices and controls
• Proficiency in data analysis, and risk reporting
• In-depth understanding of regulatory compliance requirements and industry best practices
• Exceptional analytical skills with the ability to synthesize complex data and provide strategic insights
• Excellent communication and presentation skills, to a) interact confidently with senior executives and b) convey complex concepts to diverse audiences
• Strong leadership abilities and a demonstrated capacity to drive change and influence decision-making
• Strong analytical abilities, including the use of data and visualization of data to aid strategy discussion with proficiency in Excel, PowerPoint, and Sharepoint – Tableau & SQL are a plus