Location Address: Toronto. WFH
Contract Duration: ASAP – 10/29/21 – possibility of extension
Story Behind the Need
Business group: Group supports the operational, risk and control culture. Central point for Operational Risk and Financial governance. Additionally, Responsible for the global management of external vendors, depositories and custodians; ensuring best practices and contractual pricing is received from third parties while adhering to the Bank’s risk management policies.
Project: Undertaking a project and we are looking to enhance internal controls through this project that will include technology and process enhancements.
Contributes to the overall success of the control activities globally, ensuring specific individual goals, plans, are executed / delivered. Ensures all activities conducted are in compliance with governing regulations, internal policies and procedures.
Candidate Value Proposition: High visibility project – initiate is a commitment that the division has made to the board. New function that is being built from the ground up. Dealing with First Line and large Capital Markets organizations. Selected candidate will obtain Front Line control experience. Also, will gain exposure to the back office process.
Typical Day in Role:
– Assist in the initial documentation and mapping of key regulatory and non-regulatory controls for operational functions.
– Assist in the maintenance and updates of key controls inventory
– Assist in the development, planning and execution of first line testing program for the periodic testing of key controls to assess their design and operating effectiveness in managing operational risks;
– Assist with providing regular reporting Management of the condition of internal controls in the respective operational functions including analyses of root causes of control breakdowns and determines appropriate corrective actions;
– Assist in identifying and addressing underlying causes of control breakdowns or instances where controls are inadequate
– Assist with the maintenance of Issues Tracking Database for the first line testing and provide summary updates to Management
– Assist with the follow-up of open issues identified from the first line testing and ensure recommended corrective actions have been remediated;
– Maintain regular communication with Compliance to determine changes to regulatory rules and understand their impact on various applicable controls;
– The incumbent should be able, on his/her own initiative, to resolve issues and recognize the need to involve his/her supervisor/s and/or Subject Matter Experts when required.
– The incumbent is expected to maintain an in-depth knowledge of operational conditions throughout the applicable Business Lines and escalate issues promptly that are deemed to be serious, or have broad impact;
Candidate Requirements/Must Have Skills:
1) 5 + years – Knowledge of Capital Markets and/or Operation Risk Management role is a Financial Firm Consulting Firm
2) 5+ years In-depth understanding of financial markets, capital markets products and control functions
3) Good knowledge of internal controls
4) Communication Skills – verbal and written
5) Audit experience
1) Background in Audit
2) Project Management Experience
Soft Skills Required:
1) Self-motivated and experience in working on complex projects
2) Ability to work Independently and also a Team Player
Degrees: Bachelor's degree in business, finance or a related field