International Bank Client
Office Status: Hybrid
The Sales & Trading Business Control Officer (S&T BCO) is a business-aligned change agent and risk management individual contributor. The S&T BCO acts as 1st Line of Defense (LoD) and provides the Business Unit (Treasury Unit) with guidance on processes and control design, ensures effective assessment of risk across the transaction lifecycle. The S&T BCO liaises and interacts with Business Unit 2nd LoD who controls Risk Management and Compliance.
- The S&T Business Control Officer is primarily an individual contributor. The S&T BCO is responsible for the full scope of S&T processes & controls. The S&T BCO reports directly to the S&T Vertical BCO as well as the head of Planning of Treasury Unit. This individual may have 1-2 direct reports.
- Assess existing processes, controls and oversight framework to identify and remediate issues by providing expert guidance with a sense of urgency regardless of the resource
- Drives & implements an effective control framework across S&T organization, primarily in Foreign Exchange team’s end-to-end S&T transaction lifecycle, proactively assessing threats, vulnerabilities, to prevent future incidents
- Works in partnership with the business and other control groups, such as 2nd and 3rd LoD, to provide guidance in the identification, assessment, management and resolution of operational and regulatory risks
- Supports S&T Vertical BCO by aligning with the business, to develop effective risk management framework and related risk assessments on matters related to FX S&T.
- Coordinates with 2nd LoD regarding risk appetite, limits and guideline setting & issue management.
- Support 1st LoD via performance of issue management & root cause analysis
- Performs transaction documentation review prior to execution to ensure terms and conditions are aligned to credit approvals
- Liaises between FX S&T and control functions to execute on 2nd LoD risk assessments (e.g., RCSAs), as required
- Ensures the business unit is operating in compliance with applicable laws, rules, and regulations, provides oversight of processes designed to comply with the aforementioned requirements
- Trains regularly S&T staff to ensure awareness of and adherence to policies, standards and procedures, disseminating best-practice guidance
- Assess business-unit level key metrics to ensure operational effectiveness, establish and manage metrics, supporting the S&T Vertical BCO’s vertical level assessment
- In addition, S&T BCO will leverage the S&T framework to be deployed in other activities within the Treasury Unit such as ALM
- Oversee 1st Line of Defense (LoD) activities and assist specialized domain SMEs (e.g., IT Risk, Data Governance) in the implementation of their programs within the Treasury Unit
- Supports the head of the Treasury Unit strategy and product development (including new product development) through identification of risk & control considerations, as well as definition & operationalization of risk mitigants
- Ensure that risk management considerations are embedded in Treasury Unit processes and strategy, which includes ALM activities
- 7+ years of relevant Banking & Financial Services experience, ideally in a similar business controls or related function
- Knowledge of process and control design, including process mapping and process re-engineering
- Experience with internal risk assessment and issue management, change management, and process improvement practices
- Product/market knowledge of foreign exchange (FX) sales and trading, settlements and associated back office functions
- Functional knowledge of foreign exchange-related compliance and risk management requirements & best practices
- Strong leadership and communication ability, inclusive of conflict resolution and project management abilities