Designated Person, Operational Risk Management

Barings LLC; Dublin; On-site; EUR 120,000 - 160,000; Full time

Job summary

Barings in Dublin is seeking an experienced Designated Person for Operational Risk Management to oversee the fund management company's risk framework and ensure that operational risks are identified, assessed, monitored and reported.

The role provides independent oversight and challenge of delegates and service providers, supports the Board in fulfilling its regulatory responsibilities, and helps ensure a robust control environment, resilience and compliance with applicable requirements.

Qualifications

• Experience in asset management or financial services.
• Experience in operational risk management, resilience, governance or control functions.
• Strong understanding of UCITS, AIFMD and Irish Fund Management Company operating models.
• Experience presenting to boards and senior governance committees.
• Experience interacting with regulators, auditors and senior stakeholders.
• Familiarity with Central Bank of Ireland Fund Management Company Guidance and governance expectations.

Responsibilities

• Maintain and oversee the Company's Operational Risk Management Framework.
• Review adequacy and effectiveness of operational risk policies, procedures and controls.
• Recommend enhancements to the operational risk framework in response to emerging risks, regulatory developments and industry best practice.
• Ensure operational risk considerations are embedded within the Company's governance and decision making processes.
• Provide regular reporting to the Board on operational risk incidents, trends and emerging risks.
• Present operational risk assessments, key risk indicators and control effectiveness measures to the Board.
• Escalate significant operational risk events, control failures or material weaknesses on a timely basis.
• Support the Board in determining and reviewing operational risk appetite and tolerance levels.
• Provide independent challenge and assurance regarding operational risk matters.
• Conduct ongoing oversight of delegates and critical service providers.
• Review service provider governance, control environments, business continuity arrangements and operational resilience capabilities.
• Assess service provider performance and the adequacy of remediation actions arising from control deficiencies.
• Perform periodic due diligence reviews of delegated service providers and contribute to onsite reviews where appropriate.
• Oversee the identification, assessment and resolution of operational incidents.
• Monitor incident trends and ensure root cause analysis and remediation actions are completed effectively.
• Assess the effectiveness of business continuity and disaster recovery arrangements.
• Support the Company's operational resilience framework and oversee resilience testing activities.
• Ensure lessons learned from incidents are incorporated into the control environment.
• Oversee operational aspects of third-party risk management arrangements.
• Review risks associated with outsourced activities and critical service providers.
• Assess concentration, dependency and supplier resilience risks.
• Support oversight of ICT and cyber-related operational risks.
• Contribute to the Company's compliance with DORA and related operational resilience requirements.
• Maintain awareness of regulatory developments affecting operational risk management.
• Support regulatory reviews, inspections and information requests relating to operational risk matters.
• Ensure operational risk practices remain aligned with applicable Irish and European regulatory requirements.
• Assist in the preparation of regulatory submissions and Board attestations where required.
• Work closely with Designated Persons, Control Functions and senior management.
• Liaise with delegates, service providers, auditors and regulatory bodies on operational risk matters.
• Foster a strong risk culture across the organisation and encourage proactive risk identification and escalation.

Skills

Excellent written and verbal comms

Ability to provide effective challenge

Strong judgement and decision making

Interpret regulatory requirements

Stakeholder management and influencing

Job description

At Barings, we are as invested in our associates as we are in our clients. We recognize those who work diligently for us and reward them for personal and professional integrity, communication skills, distinct competencies and expertise in specific strategies, ability to collaborate as a team member and true dedication to the interests of our clients. We thank you for your interest in joining the Barings team, and invite you to explore our current employment opportunities.

Title: Designated Person, Operational Risk Management

Business Unit: Risk

Location: Dublin, Ireland

Barings is a leading global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe, and Asia Pacific.

Job Summary

The Designated Person for Operational Risk Management is responsible for overseeing the Fund Management Company's operational risk framework and ensuring that operational risks are effectively identified, assessed, monitored and reported. The role provides independent oversight and challenge of delegates and service providers, supports the Board in fulfilling its regulatory responsibilities, and helps ensure the Company maintains a robust control environment, operational resilience and compliance with applicable regulatory requirements.

Primary Responsibilities

• Maintain and oversee the Company's Operational Risk Management Framework.
• Review the adequacy and effectiveness of operational risk policies, procedures and controls.
• Recommend enhancements to the operational risk framework in response to emerging risks, regulatory developments and industry best practice.
• Ensure operational risk considerations are embedded within the Company's governance and decision making processes.
• Provide regular reporting to the Board on operational risk incidents, trends and emerging risks.
• Present operational risk assessments, key risk indicators and control effectiveness measures to the Board.
• Escalate significant operational risk events, control failures or material weaknesses on a timely basis.
• Support the Board in determining and reviewing operational risk appetite and tolerance levels.
• Provide independent challenge and assurance regarding operational risk matters.
• Conduct ongoing oversight of delegates and critical service providers.
• Review service provider governance, control environments, business continuity arrangements and operational resilience capabilities.
• Assess service provider performance and the adequacy of remediation actions arising from control deficiencies.
• Perform periodic due diligence reviews of delegated service providers and contribute to onsite reviews where appropriate.
• Oversee the identification, assessment and resolution of operational incidents.
• Monitor incident trends and ensure root cause analysis and remediation actions are completed effectively.
• Assess the effectiveness of business continuity and disaster recovery arrangements.
• Support the Company's operational resilience framework and oversee resilience testing activities.
• Ensure lessons learned from incidents are incorporated into the control environment.
• Oversee operational aspects of third-party risk management arrangements.
• Review risks associated with outsourced activities and critical service providers.
• Assess concentration, dependency and supplier resilience risks.
• Support oversight of ICT and cyber-related operational risks.
• Contribute to the Company's compliance with DORA and related operational resilience requirements.
• Maintain awareness of regulatory developments affecting operational risk management.
• Support regulatory reviews, inspections and information requests relating to operational risk matters.
• Ensure operational risk practices remain aligned with applicable Irish and European regulatory requirements.
• Assist in the preparation of regulatory submissions and Board attestations where required.
• Work closely with Designated Persons, Control Functions and senior management.
• Liaise with delegates, service providers, auditors and regulatory bodies on operational risk matters.
• Foster a strong risk culture across the organisation and encourage proactive risk identification and escalation.

Qualifications

• Experience
  • Experience within the asset management, fund management, financial services or investment industry.
  • Experience in operational risk management, operational resilience, governance or control functions.
  • Strong understanding of UCITS, AIFMD and Irish Fund Management Company operating models.
  • Experience presenting to boards and senior governance committees.
  • Experience interacting with regulators, auditors and senior stakeholders.
  • Familiarity with Central Bank of Ireland Fund Management Company Guidance and governance expectations.
• Skills
  • Excellent written and verbal communication skills.
  • Ability to provide effective challenge while maintaining constructive working relationships.
  • Strong judgement and decision making skills.
  • Ability to interpret complex regulatory requirements and assess practical implications.
  • Excellent stakeholder management and influencing skills.
• Desirable
  • Previous experience holding a PCF role within an Irish regulated entity.
  • Experience within a global asset management group or complex.
  • Familiarity with investment management oversight models and delegated arrangements.

Requisite Skills

Additional Skills Barings is an Equal Employment Opportunity employer; Minority/Female/Age/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply.

Barings is a leading global asset management firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative, institutional-quality solutions and service. Our team-driven culture is based on transparency, responsibility and putting our clients’ interests first. We listen to our clients to understand their needs, so that we can be a strategic advisor and long-term partner in meeting their unique investment goals. Risk management and protecting our investors’ capital over the long term is an essential component of our lasting partnerships. Barings is also committed to building long-term relationships with our associates and providing opportunities and support to help them succeed. With our expanding business and global footprint, Barings offers a wealth of opportunities for associates who share our culture, values and commitment to excellence in client service. As an organization, we believe that a diversity of perspectives and strengths is essential to meeting the evolving needs of our clients, and we are committed to attracting and retaining a talented workforce as diverse as the clients and communities that contribute to our success.