Operational Risk Management – Operational Risk Officer for Third Party Oversight - VP

JP Morgan Chase - Jersey City, NJ3.9

30+ days agoFull-time
Operational Risk Management – Operational Risk Officer for Third Party Oversight (Vice President)

Operational Risk Management (“ORM”) is a function within the Firm’s Risk Management & Compliance Organization responsible for developing the firmwide Operational Risk Management Framework (“ORMF”) and overseeing its implementation across all Lines of Business (“LOBs”) and Corporate Functions (“CF”). Within ORM, Operational Risk Practices is responsible for the development and maintenance of the firmwide Operational Risk Governance Policy and associated Standards. These Standards direct and assist LOBs and CFs on how to manage and mitigate the operational risk inherent in their activities and improve understanding of the Firm's operational risk exposure.

Operational Risk Officers (“OROs”) independently challenge LOBs and CFs on their implementation of the ORMF and adherence to the Operational Risk Policy and associated Standards. The VP role will be part of the team responsible for independent challenge and oversight of the execution of the ORMF for the Corporate Functions (concentrating on Third Party Oversight “TPO”) and TPO ORM across LOBs.

Key Responsibilities include:
Perform effective challenge of operational risks through ORM’s monitoring program (e.g. Significant Event Reviews, Targeted Risk Assessment Reviews, KPIs / KRIs, Qualitative Operational Risk Appetite, Independent Risk Management Assessments).
Calibrate view points and present findings to the 1st Line of Defense (“LOD”) and ORM.
Lead or participate in the development of Risk Assessments and Control Standards.
Understand the key processes and controls performed for this risk across the firm.
Develop and/or challenge KPIs / KRIs related to this risk through effective monitoring and testing.
Partner with 1st LOD and ORM to strengthen the operational risk environment of the firm using analytics, independent challenge, and your ideas.
Proactively analyze operational risks to identify and make recommendations for process or control changes and system enhancements.
Prepare and/or review operational risk materials for Functional Control Committees, Risk Committees, Rep Letter signoff, etc.
Lead or participate in operational risk initiatives or technology projects across Corporate Functions and other business partners, as assigned.

6+ years of experience in financial services industry; specific experience in Operational Risk, Finance, Business Management, Audit, Compliance, or other controls related area is a plus.
2+ years of TPO experience in development of TPO framework or in the execution of the TPO framework for a particular LOB. Onboarding, Steady state performance monitoring, KRIs/KPIs and Controls knowledge experience in this field is a plus.
Proven ability to anticipate and identify risks and effective mitigants.
Strong communication skills, both verbal and written.
Strong negotiation / influencing skills.
Develop constructive relationships with functional partners.
Strong analytical and problem-solving skills, inquisitive nature, and comfort challenging current practices.
A high-level of attention to detail and quality assurance.
Proven ability to be able to multi-task, as well as assess and change priorities.
Drive and deliver results with limited supervision.
Able to deliver projects consistently, problem solve and think strategically under pressure.
High proficiency in Microsoft Office Suite.
Minimum of Bachelor's degree; plus in Business Administration, Finance, Accounting or related discipline.
People management experience a plus.