Principal - Operational Risk Officer aligned to Custody

Reporting to the Senior Operational Risk Manager for Custody and Operations Utilities, the Operational Risk Officer (ORO) will be part of a global team of 7 within the 2nd line of defense.

Responsibilities:

• The ORO will ensure Risk Management oversight of the Custody business risk framework, notably; Risk & Control Self Assessments, Key Risk Indicators, Operational Risk Events and Business Process Change risk assessments.
• The provision of advice and guidance will be provided to the Custody business line, including the evaluation of existing processes and the ORO should be able to call on a high level of knowledge of associated risks to direct the business line's activities to address control gaps.
• Directs the 1st line of defense's compliance with the Operational Risk Management Framework by identifying, assessing and mitigating risks, identifying emerging issues, contributing to the development of processes and controls to manage risks, monitoring the adequacy and effectiveness of the control environment, remediating deficiencies, monitoring and challenging business activities and enforcing business line awareness of and adherence to the risk management framework.
• Recommends modifications to reduce implementation risk and uses strong influence with business line management to ensure compliance, risk and control documentation and notification of all appropriate representatives and regulators.
• Responsible for appropriately escalating issues to the Risk and Compliance management team.
• Ensures that all challenge and issues raised are suitably evidenced and recorded.
• Provides reporting on outputs of risk management activities completed, including thematic reviews and independent assessments, suitable for Executive Management.
• No direct reports, but will provide guidance to junior team members and may assign tasks, as needed.

Competencies & Experience:

• Strong familiarity with the Custody product and operations to anticipate, assess, monitor and report on operational risks. Understanding of settlements, corporate actions, trade capture and income processing in US and global markets.
• An understanding of the Operational Risk Framework and associated risk tools, eg RCSAs, KRIs.
• Able to develop and establish collaborative working relationships with colleagues in both 1st and 2nd lines of defense to ensure timely completion of risk-related deliverables, issue resolution and implementation of improvements.
• Good interpersonal and communication skills, with the ability to interact effectively with both senior leaders and across all levels of the organization.
• An understanding of client asset safety regulations and principles.
• Strong analytical skills and ability to learn and assimilate new information quickly.
• 10-12 years of total work experience preferred.
• Bachelor's degree or the equivalent combination of education and experience is required.

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals with Disabilities/Protected Veterans. Our ambition is to build the best global team - one that is representative and inclusive of the diverse talent, clients and communities we work with and serve - and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.