Assistant Vice President – Business Risk

Job title:

Assistant Vice President – Business Risk

Company

Bank of China

Job description

Financial Institutions department manages and develops long term, mutually beneficial relationships between the Bank and Financial Institutions clients across the world. The sector includes banks and non-financial institutions such as asset managers and insurance companies as well as clearing houses, exchanges and central banks. As an Assistant Vice President – Business Risk, you will be responsible to support the business development strategy of Financial Institutions and assist with the management of the associated risks within Financial Institutions business line. You will lead the enhancement of first line of defence (1LoD) business risk management and internal control. This is a full time permanent position.Key responsibilities

• Advise in identifying and assessing non-financial risks (e.g. Financial Crime, Regulatory Compliance and Business Continuity risks) captured under the Operational Risk Taxonomy and associated controls
• Work with business to execute 1LoD operational risk management programme (e.g. RCSA, KRI, ORE, External Events), New Product Approval Process, and 1LoD assessment for specific non-financial risks (e.g. ABC, Fraud, Tax Evasion Risk Assessment and Control Attestation)
• Develop an understanding of both Head Office and local requirements, update and improve the department’s business procedures, oversee the business execution, identify and document controls in the business that meet the Bank’s and regulatory requirements
• Improve the existing KRI reports and design new monitoring reports and risk indicators, prepare and present the regular business operational risk management reports to Senior Management and key risk governance committees
• Act as the key point of contact on the operational risk & controls matters or initiative in Financial Institutions business area, maintain effective end-to-end engagement with second line of defence (2LoD) and Head Office to report Financial Institutions risk control environment and improvement in accordance with all relevant requirements
• Work with end-to-end stakeholders to analyse emerging trends, incidents and reportable operational risk event (ORE) to identify underlying issues, assess potential risks and establish appropriate solution or remedial actions; escalate to Management and governance forum on material concerns, persistent issues or breaches of rules
• Participate and coordinate with working groups and project teams as required
• Design and implement Financial Institutions business line measures and procedures as required

Requirements

• Degree educated in Finance, Economics, Business, Accounting or other equivalent
• Demonstrated Risk Management experience gained in Financial Services industry, Consultancy or Audit, preferably in Financial Institutions business area
• Excellent understanding of financial products, services, process and risk management process
• Solid experience from Commercial Banking or Capital Markets background
• Solid understanding of different types of risks in FI business area, both financial and non-financial
• Good Wholesale Banking product knowledge, especially for FI
• Solid knowledge on regulatory, legislative requirements for FI business
• Attention to detail
• Excellent analytical and problem solving skills
• Team player
• Excellent interpersonal and communication skills
• Fluency in Mandarin is preferred

Having a presence in the UK for more than 90 years, Bank of China London Branch has been providing an excellent financial service to the market and maintain its competitive edge as an international bank operated in the UK. It has employees in over 33 countries, and it is one of the most internationalised overseas branch in the Bank of China Group. The Bank values the diversity of its employees and aims to create an inclusive environment where everyone can speak up and enjoy the equal opportunities to grow both personally and professionally.

Expected salary

Location

London

Job date

Fri, 05 Jul 2024 05:05:41 GMT

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