Assistant Vice President - Business Risk

Bank of China

Jul 5

Applications are closed

Job
Full-time
Expert Level
Accounting & Tax
Banking & Finance
London

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

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

FAQs

What is the main responsibility of the Assistant Vice President - Business Risk?

The main responsibility is to support the business development strategy of Financial Institutions and assist in managing the associated risks within the Financial Institutions business line, particularly enhancing the first line of defence (1LoD) business risk management and internal control.

What types of risks will the Assistant Vice President be focusing on?

The Assistant Vice President will focus on non-financial risks including Financial Crime, Regulatory Compliance, and Business Continuity risks, as captured under the Operational Risk Taxonomy.

What qualifications are required for this role?

A degree in Finance, Economics, Business, Accounting, or another equivalent field is required, along with demonstrated Risk Management experience, preferably in the Financial Institutions business area.

Is fluency in any specific language preferred for this position?

Yes, fluency in Mandarin is preferred for this position.

What types of reports will the Assistant Vice President be responsible for preparing?

The Assistant Vice President will prepare and present regular business operational risk management reports to Senior Management and key risk governance committees.

What kind of prior experience is preferred for candidates applying for this role?

Candidates should have solid experience from a Commercial Banking or Capital Markets background, as well as an excellent understanding of financial products and services within the financial services industry.

What kind of learning and development opportunities does the Bank provide?

The Bank offers continuous learning opportunities, access to qualifications from leading professional bodies, e-tutorials, networking sessions, personality profiling, a People Manager Development Programme, and a focus on continuous professional development (CPD).

What benefits are included in the comprehensive benefits package?

The benefits package includes private healthcare, pension, an Employee Assistance Programme, complimentary lunch, a cycle-to-work scheme, and retail discounts, among others.

How does the Bank facilitate a diverse and inclusive work environment?

The Bank values the diversity of its employees and aims to create an inclusive environment where everyone can speak up and enjoy equal opportunities for personal and professional growth.

Bank of China

Finance

Industry

10,001+

Employees

1912

Founded Year

Mission & Purpose

Bank of China, include BOC Hong Kong, BOC International, BOCG Insurance and other financial institutions, providing a comprehensive range of high-quality financial services to individual and corporate customers as well as financial institutions worldwide. Over the past century, Bank of China played an important role in China’s financial history. It was established in 1912 pursuant to the approval of DR. Sun Yat-sen. In the following 37 years the Bank served as the central bank, international exchange bank and specialized foreign trade bank successively. In 1949, Bank of China became the state-designated specialized foreign exchange bank. In 2003, it was named by the State Council as one of the pilot banks for joint-stock reform of wholly state-owned commercial banks. On August 26, 2004, Bank of China Limited was formally incorporated in Beijing as a state-controlled joint stock commercial bank. Bank of China is the most internationalized commercial bank in China. BOC London Branch, the first overseas branch of the Chinese banks, was established in 1929. Currently, it had over 10000 domestic operations and over 600 overseas operations. In 1994 and 1995, Bank of China became the note issuing bank in Hong Kong and Macao respectively. The Bank prepared a new strategic development plan which was approved by the Board of Directors in March 2009. Strategic Positioning: To be a large multinational banking group based on a diversified and integrated cross-border business platform, with a core business of commercial banking. Strategic Goals: To be a leading international bank delivering growth and excellence.