Enterprise Risk Management-Payments Risk Management Associate/AVP

Bank of China USA; New York (NY); On-site; USD 42,000 - 90,000; Full time

Job summary

Bank of China USA seeks an Associate/AVP for Enterprise Risk Management focused on Payments Risk. In this role, you will manage risks associated with payments, oversee the governance of risk management processes, and ensure compliance with regulatory standards. Ideal candidates will have strong banking experience along with expertise in risk management and an appreciation for payments operations.

Qualifications

• Minimum 2 years of Banking work experience for Associate level.
• Minimum 4 years of Banking work experience for AVP level.
• Minimum 1 year of Risk Management experience.

Responsibilities

• Manage Payments risk in Settlement and Custody.
• Develop and enhance Payments risk management processes.
• Provide training and development opportunities to team members.

Skills

Regulatory knowledge

Compliance knowledge

Payments Risk Management

Education

Bachelor degree

Master’s degree (preferred)

Job description

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Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

Overview

Bank of China New York (“BOCNY” or the Bank) Enterprise Risk Management Department (“ERM”) is responsible for managing the Bank’s enterprise risk as a function of second line of defense according to the Bank’s risk governance framework. The Associate will manage the Payments Risk in executing and overseeing the Payments risk management in Settlement and Custody, oversighting the front business units’ Payments risk management, and ensuring the Bank’s risk exposure within risk appetite, and protect the Bank with safe and sound risk management.

Responsibilities

Include but are not limited to:

Risk Governance

• Administrator of the Payments Risk Committee
• Payments project management office for the department
• Build of strong governance in Payments risk management
• Management of internal audit and regulatory matters Program Execution
• Develop, execute and enhance of the Branch-wide Payments risk management
• Review, update and maintain all Payments related policies and procedures
• Execute Payments risk management processes to identify, measure, monitor, manage and report risks
• Ensure the effective implementation of the Branch’s payments risk management through training, awareness and monitoring
• Promote sound Payments risk culture across the Branch by supporting and providing oversight to the first line of defense through various Payments risk management
  
  

Control Testing & Assessment

• Review and challenge Payments risk assessments conducted by both FLUs and IRM
• Develop Payments risk reports, and provide recommendations to remediate identified deficiencies
• Ensure a timely and efficient remediation plan is developed for Payments risk management issues, and oversee the implementation of rectification
• Implement and ensure execution of the exception management process
  
  

Risk Analysis and Reporting

• Aggregate Payments risk profile utilizing the appropriate methodology
• Ensure ongoing communication of risk initiatives to the relevant committees
• Respond to regulatory inquiries related to Payments risk management Management
• Provide training, feedback and professional development opportunities to team members (10%)
• Execute and ensure adherence to all policies and procedures impacting Payments Risk Management
• Ensure adherence to Branch policies and procedures
  
  

Project Support

• Support the execution of department strategic objectives
  
  

Qualifications

• Bachelor degree required; Master’s degree preferred
• Minimum 2 years of Banking work experience required for Associate level; Minimum 4 years of Banking work experience required for AVP level
• Minimum 1 year of Risk Management experience
• Minimum 1 year of Wholesale & Retail Payments or Custody experience
• CFA/CPA/FRM/MBA/PMP preferred but not required
• Bilingual ability in English and Chinese preferred
• Demonstrate Regulatory and compliance knowledge and Financial / banking industry and business line knowledge
• Demonstrate knowledge in Operational and/or Payments Risk Management framework
  
  

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.

USD $42,000.00 - USD $90,000.00 /Yr.

Seniority level

• Seniority level

  Entry level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Other

• Industries

  Banking

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