Risk ORC Mandate:
The mission of RISK ORC is to oversee the effective and efficient functioning of the Operational Permanent Control (OPC) framework implemented by business lines and functions (1st line of defense or 1LOD), as well as the measurement and management of Operational Risks (OR). They serve in an independent oversight capacity, as part of the 2nd line of defense (2LOD), ensuring that the 1LOD is fulfilling its Permanent Control (PC) objectives and requirements. RISK ORC’s scope includes the CIB business line, and its supporting operational units and transversal functions across the Americas (US, Canada, Brazil & Latin America).
Context: Part of the RISK ORC Governance, Framework and Reporting Team mandate is to ensure that RISK ORC remains aligned with Group RISK ORC, staff is trained on operational risk management, and RISK ORC is meeting IG / regulatory requirements in a consistent and sustainable manner. Operational Risk Framework Team member will be responsible for:
- Dissemination / oversight of operational risk management procedural framework
- Transpose the global operational risk management methodology defined by RISK ORC at Group level
- Review Global procedures to determine local impact and ensure alignment
- Track key initiative launched by RISK ORC, including: Risk Control Self-Assessment check and challenge, Key Risk Indicator gap analysis, and independent control testing efforts. Ensure consistency amongst teams in how these efforts are deployed.
- Operational risk audit / exam management (IG / Regulatory findings and control framework oversight)
- Ensure proper implementation and oversight on all IG and Regulatory findings that relate to RISK ORC
- Follow up on RISK ORC recommendations and ensure closure by properly preparing and archiving all artifacts
- Operational risk management training
- Develop and administer annual and ongoing operational risk management training and track attendance, completion, dates, etc.