Assistant Vice President - Business Risk & Control

at  Bank Of China

Financial Management department is in charge of planning, organising, directing and controlling the financial activities of the Bank. The department performs a variety of financial functions, including accounting and financial reporting, fixed asset and expenses management, budget and management reporting, taxation (indirect and direct), regulatory reporting, treasury (asset and liability management) and capital management. As an Assistant Vice President – Business Risk & Control, you will advise and oversee the first line of defence (1LoD) operational risk and control management activities. You will also advise and oversee the second line of defence (2LoD) oversight requirements including policy formation and administration. And you will provide support in investigating and resolving incidents related to the third line of defence (3LoD) audit/internal audit actions and issues. This is full time permanent position.

REQUIREMENTS

• Degree educated in Business Administration, Finance, Economics, or other equivalent
• Solid experience gained in a Commercial or Retail Banking, Consultancy or Audit in similar area
• Good familiarity with the regulatory requirements of Commercial Banking or Retail Banking business and common market principles
• Solid understanding of financial products, services, process and risk management process
• Ability to handle multiple projects and priorities concurrently and manage business expectations accordingly
• Excellent analytical and problem solving skills
• Proficient in Microsoft Office (Word, PowerPoint, Excel)
• Excellent communication skills
• Excellent interpersonal and stakeholder management skills
  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

• Advise and support the risk/control owners within Financial Management department in identifying and assessing non-financial risks (e.g. Financial Crime, Regulatory Compliance, Business Continuity Risk) captured under the Operational Risk Taxonomy and the associated controls to mitigate those risks
• Collaborate with internal stakeholders to design and implement new controls as necessary
• Execute 1LoD operational risk management programme (e.g. RCSA, KRI, ORE, External Events), the New Product Approval Process, and 1LoD assessment/attestation for specific non-financial risks
• Analyse business processes and systems to evaluate their susceptibility to risks and propose mitigation strategies
• Assist in the development and implementation of policies and procedures to meet regulatory obligations
• Work with stakeholders to analyse emerging trends, incidents and reportable operational risk event (ORE) to identify underlying issues, assess potential risk/impact and establish appropriate solution or remedial actions
• Maintain a good overview of Financial Management department’s operational risk profile and control environment. Track and follow-up on issues identified from various channels, associated remedial actions and status of action implementation
• Advise and support the business in reviewing policies and/or procedures and overseeing the business execution as well as in designing/identifying and documenting controls in the business that meet the Bank’s requirements and regulatory requirements
• Act as the key point of contact on operational risk and controls matters. Maintain effective end-to-end engagement with BRCM or members in up/downstream areas as well as 2LoD oversight functions for various non-financial risk types
• Participate and contribute to key risk governance forums/committees as Financial Management department’s risks and controls representative
• Prepare and present reports on risk assessments and control evaluations to Senior Management and key risk governance forums/committees
• Escalate to Management and governance forums on material concerns, persistent issues or breaches of rules, regulation, policies or procedures
• Recommend training and development requirements to support the Bank’s risk and control frameworks