Senior Vice President, Line of Business Risk

We’re seeking a future team member for the role of Senior Vice President, Operational Risk Coverage to join our Risk & Compliance team. This role is located in New York City, NY.

 

About the team:

BNY Corporate Trust (CT) is one of the world’s largest providers of trust, custody, and agency services, leveraging a strong global brand and client franchise. CT is recognized as a market leader and trusted partner, delivering a broad range of capabilities to US domestic and international issuers, including Financial Institutions, Corporates, Insurers, Governments and Municipalities. CT is an intermediary between debt issuers, investors, and market infrastructure providers, covering a wide array of debt securities: Corporates, Specialty Debt, Asset-Backed Securities, CLOs, Loans, Mortgages and Structured Credit, as well as Municipal, Government Agency, and International Sovereign debt.  This role will be based and supervised out of New York, directly covering the Corporate Trust business with a specific focus on Conventional Trust, Structured Debt, Loans Enablement Platforms, plus operational risk coverage for the Credit Services platform.

 

As an Operational Risk Coverage officer, this role will have daily interactions with the Platforms, COO, Control, Engineering, and Operations managers. Direct, face-to-face interactions are critical to ensure that we can provide appropriate independent second line of defense review, challenge, oversight, and advice to the first line of defense. This role ensures that operational risks are properly identified, assessed, and mitigated, thus enabling proactive risk management aligned with on-going investment management activities and strategic priorities and plans.

 

In this role, you’ll make an impact in the following ways: 

• Responsible for the second line of defense on-going independent oversight, challenge and advice on day-to-day operational risk management for Conventional Trust, Structured Debt, and Credit Services client platforms, as well as the Loans Enablement enterprise platform.
• Oversee and support execution of the Operational Risk Management Framework by the Platforms to facilitate the identification, assessment and mitigation of risk arising from people, process, systems and external events.
• Provide ongoing coaching and advice to the Platforms on current and emerging risk related matters.
• In conjunction with other risk stripes, review, advise on and provide 2LOD approval recommendation for Risk Appetite Limits.
• Independently oversee and monitor the Platforms’ Risk and Control Self-Assessment (RCSA) including review, guidance, challenge and approval for risk acceptance, action closure, manual processes and concurring to the RCSA accuracy annually, ensuring that it continuously reflects the Platforms’ operational risks and control environment. 
• Partner with the Platforms to identify significant emerging and potential risk and control weaknesses, including process review, control testing review and other risk deep dives. 
• Provide input, oversight and challenge to the Scenario Analysis Process. 
• Support the quarterly Risk ID and High-Level Assessment (HLA) process by participating in pre-HLA meetings, reviewing and challenging HLAs. 
• Review, challenge and approve new and change related client, jurisdiction, product and processes such as New / Modified Products and Business Process Change.
• Oversee, challenge and monitor Operational Risk Events (OREs) to identify root causes, ensure appropriate remediation actions to address control gaps and proactively identify themes/trends that require discussion.
• Escalate identified Issues; oversee, challenge and monitor Issues to ensure that they have a proper description, materiality rating and remediation action plans, as well as to monitor the completion of their action plans and to identify trends and themes that require discussion. 
• Provide input and challenge on reporting for Risk, Control and Legal Entity.
• Leverage Operational Risk reporting and data analytics to proactively identify and address risk concentration and control weaknesses. 
• Contribute to the achievement of the Platforms’ strategy, Objectives and Key Results (OKRs), and regulatory deliverables.

 

To be successful in this role, we’re seeking the following: 

• Bachelor’s degree or equivalent education required.
• 10-15 years of total related work experience preferred
• Background in operational risk, compliance, or controls management preferred.
• Knowledge of the Conventional Trust, Structured Debt, Loans or Credit Services businesses is preferred
• Excellent problem-solving, analytical abilities, project management, oral and written communications skills. 
• Strong data analytics and AI prompting skills, Excel, SharePoint and PowerPoint skills preferred. Familiarity with ServiceNow or similar workflow / task management tools preferred.

BNY assesses market data to ensure a competitive compensation package for our employees. The base salary for this position is expected to be between $104,000 and $147,000 per year at the commencement of employment. However, base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNY total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs. 
This position is at-will and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation) at any time, including for reasons related to individual performance, change in geographic location, Company or individual department/team performance, and market factors.

At BNY, our culture allows us to run our company better and enables employees’ growth and success. As a leading global financial services company at the heart of the global financial system, we influence nearly 20% of the world’s investible assets. Every day, our teams harness cutting-edge AI and breakthrough technologies to collaborate with clients, driving transformative solutions that redefine industries and uplift communities worldwide.

Recognized as a top destination for innovators, BNY is where bold ideas meet advanced technology and exceptional talent. Together, we power the future of finance – and this is what #LifeAtBNY is all about. Join us and be part of something extraordinary.