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Operational Risk VP – Markets & Trading

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  • Requisition # 35179
  • Job Type Day
  • Location New York, NEW YORK
  • Date Posted 08/13/2020

Your potential. Your opportunity.

Do you want your voice heard and your actions to count?

Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world (as ranked by S&P Global, April 2020).In the Americas, we’re 13,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, developing positive relationships built on integrity and respect. It’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. We’re a team that accepts responsibility for the future by asking the tough questions and owning the solutions. Join MUFG and be empowered to make your voice heard and your actions count. 

Job Summary:

The Operational Risk Management department is responsible for the management of the operational risk framework and standards, aggregate risk assessments and risk appetite. This position assists the Head of the Department with the development and maintenance of an enterprise wide second line Markets and Trading framework. The individual in this position has oversight responsibility for first line of defense markets and trading operational risk. The Operational Risk VP will report directly to the Head of Markets and Trading Operational Risk Management.


  • Contribute to the development of the markets and trading operational risk management framework, standards and methodology, and providing updates on a periodic basis in line with the changing risk profile.

  • Provide guidance to first line, second line and enterprise support units on the effective execution of the Operational Risk framework, including:

    • New activity assessments, operational risk/loss events, scenario analysis, risk and control self-assessments (RCSA), and emerging risk identification.

  • Participate in review and challenge to provide ongoing independent SME for the First Line of Defense (FLOD) markets, trading operational risk activities and compliance within the Markets and Trading Risk Framework and risk policies.

  • Manage Operational Incidents process and report within firm guidelines, inclusive of remediation, tracking and reporting.

  • Work with enterprise personnel to understand the root cause of incidents, to assess incident response and remediation efforts and manage tracking and reporting.

  • Perform quality review on reported incidents as needed and ensure all required reporting components are effectively captured (i.e. taxonomy, impact type, complete description details, root cause, etc.).

    • Establish the necessary markets and trading framework and standards so that aggregate risks within the company are effectively identified, measured, monitored and controlled consistent with the bank’s risk appetite

  • Partner with markets and trading businesses and SLoD partners to incorporate SLoD assessment(s) into full Operational Risk Framework (i.e. RCSA, Incident Management, KRMs, etc.).

    • Identify strengths and weaknesses in the overall program to ensure a path of continuous improvement that supports better identification of operational risks and avoidance of errors, fines and losses, etc.

    • Develop tools, processes, and systems to independently identify and assess aggregate markets and trading risks, trends and emerging risks

  • Manage the development, monitoring, and review of key risk metrics and assists management in the early identification of risk trends.

    • Support the design and development of the Bank’s KRM program, ensuring KRMs are correctly calibrated and relevant.

    • Produce monthly reporting, including relevant commentary and remediation actions.

    • Ensure that ongoing assessment of KRMs is undertaken and annual review requirements are met.

    • Provide aggregate enterprise-wide markets and trading operational risk reporting for management and the applicable risk committees

    • Ensure material markets and trading operational risks and events are escalated to management and relevant committees.

    • Perform on going monitoring of markets and trading operational key risk metrics.

  • Oversee the production of key reporting activities and drives the execution on monthly and quarterly risk reporting and board reporting packages.

  • Provide ORM coordination with the various legal entities:

    • Serve as an operational risk central point of contact

    • Represent Operational Risk at entity-level operational risk committees.

  • Bachelor’s degree.
  • A minimum of 7+ years of experience in Operational Risk, Internal or External Audit within a dynamic international financial institution or financial services firm.

  • Requires extensive knowledge of markets and trading operations from both process and technology perspectives.

  • Excellent skills in markets and trading risk assessment analysis, identifying trends and signs of changing risk levels.

  • Analytical mindset to make sound recommendations into operational risk issues is imperative. Being tenacious and agile, with proven ability to sustain high levels of performance in a fast-paced, output focused environment will also aid in your success.

  • Strong team player who is comfortable working collaboratively and independently to look ahead, anticipate, challenge and manage around obstacles.

  • Other requirements include, being a lateral thinker with problem solving and consulting skills and the ability to grasp abstract concepts and complex situations.

  • The ability to work both independently and collaboratively within a global matrixed organization and possess strong communication skills.

  • Ability to build collaborative and productive working relationships, consensus and a sphere of influence with business teams and others across all functions.

  • Team player who can excel in a fast paced, challenging environment with a strong desire to continuously improve and learn new things.

  • Excellent communications skills, both oral and written with experience presenting to senior level management.

  • Experience interfacing with banking/financial services industry regulators.

The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.

We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.

A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it's the bank's policy to only inquire into a candidate's criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.

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