Operational risk refers to the risk of financial or other loss, or potential damage to a firm's reputation, resulting from inadequate or failed internal processes, people, systems, or from external events (e.g., fraud, legal and compliance risks or damage to physical assets). The Firm incurs operational risk across the full scope of its business activities, including revenue-generating activities (e.g., sales and trading), infrastructure groups and control functions (e.g., information technology and trade processing).
The Firm has developed an Operational Risk Management framework to identify and assess significant operational risks and ensure appropriate mitigation actions are undertaken. The framework is deployed across business units, infrastructure groups and control functions globally. The framework is based on a "Three Lines of Defence" model:
- 1st Line: Business Units/Infrastructure Groups own their operational risk and are responsible for its management; - 2nd Line: Independent Risk Management and control functions provide independent governance and oversight of operation risk management across the Firm and partner with business units and infrastructure groups to anticipate, mitigate and report on operational risk; - 3rd Line: Internal Audit provides independent assessment and validation.
Operational Risk Department (ORD) operates as part of the Second Line of Defence.
- This position is to support the Firm's Global Supplier Management Program. The primary function of this role is to ensure compliance with SMP Program requirements. - Job responsibilities include: - Managing the lifecycle of onboarding a new service/supplier from input of supplier details to final approval - Support the day to day operations of the SMP Program to insure data integrity and interfacing with key stakeholders - Support process and policy changes with the SMP Program - SMP Program reporting – metrics, KPIs, KRIs, MIS reporting - Assist various groups with new and recurring supplier risk assessments, collaborate with Control Groups to ensure timely completion of supplier risk assessments, assist the Operational Risk Coordinators with continuous refinement of SMP Program
- University degree is a must. Preferred fields are Economics, Finance, Statistics - Work experience of minimum 2 years is required - Experience with procurement process and/or supplier management process is a definitive advantage - Excellent communication skills, both written and spoken - Logical thinking, ability to analyst complex sets of data and convert to meaningful reporting - Detail oriented - Proficiency in Microsoft Word, Excel, Access and PowerPoint