Director of Operational Risk

About AllianceBernstein:

AllianceBernstein (AB) is a leading global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. Our corporate headquarters is based in Nashville, Tennessee and we currently have over 3,900 employees based in 51 locations across 26 countries including a significant presence in major financial centers like New York, London, Hong Kong and Tokyo.

At AB, we’re fully invested in being a firm that clients can trust to deliver better outcomes. To be successful, we foster a diverse, connected, collaborative culture that encourages different ways of thinking and differentiated insights. We embrace innovation to address increasingly complex investing challenges. We realize that it's our people who give us a competitive advantage and drive success in the market, investing in the next generation of investment professionals is our priority. We want to empower you—which is why we offer training, and a culture of mentorship and mobility, so you can cultivate the tools you need to build your career. If you're passionate, driven and ready to develop new ideas, we want to help you challenge your limits.

About AB’s Risk Management Department:

AB operates a “Three Lines” model where Risk Management is an independent function in the “second line”. The department has dedicated teams for operational risk and investment risk, as well as specialist risk directors for risk disciplines such as model, liquidity, counterparty and credit risk. The risk department is led by AB’s Chief Risk Officer (CRO) who is a direct report of AB’s Chief Executive Officer (CEO). The operational risk team is also supported by Embedded Risk Managers who operate as Risk Officers in each of AB’s investment, technology and operations business units. Together, the Risk Officers, specialist risk directors, investment and operational risk teams form AB’s Risk Management department.

Role Summary:

AllianceBernstein is seeking a Nashville based Director of Operational Risk to drive operational risk management programs, including development and enhancement of AB’s operational risk framework, risk maps and error/incident management processes. A key element of this role will be supporting the success of the Embedded Risk Managers who deliver AB’s operational risk framework in the “first line” of the business. Alongside development of AB’s operational risk framework, this individual will play a key role in the continued development of AB’s framework for assessing, managing and mitigating environmental, social and governance (ESG) risks arising from the firm’s operations and regulatory requirements.

Role Responsibilities:

Strategy & Leadership

• Drive operational risk management programs to enhance AB’s operational risk framework, helping to deliver short-term outcomes and longer-term strategic development of the function.
• Support the Head of Operational Risk in delivering risk analysis and insights to AB’s Operating Committee, including the CEO and COO.

• Oversee day-to-day elements of AB’s operational risk framework:

  • Maintain and enhance operational risk management procedures and standards for risk assessment, error reporting, error resolution and management reporting.

    Ensure there is an effective process for risk incident and breach reporting and error resolution, including the delivery of supporting management information and analytics.

  • Ensure there is an effective process for risk and control assessment and remediation action plans, including the delivery of supporting MI and analytics.

  • Maintain and enhance operational risk management libraries and taxonomies to facilitate assessment and reporting of enterprise-wide risks, metrics and action plans.

  • Design and deliver training on AB’s operational risk framework for new joiners, senior leaders and all AB employees.

  • Partner with Strategic Business Unit (SBU) Leaders and Embedded Risk Managers to discuss operational risk matters, provide support and ensure risk culture is embedded in teams.

• Support development of AB’s framework for identifying, monitoring and mitigating ESG risks arising from the business’s operations and regulatory requirements.
• Support development of AB’s framework for identifying Emerging Risks.
• Support risk reviews of new products and initiatives, and critical vendors and third parties.
• Support firm-wide risk-reduction initiatives such as cyber resilience planning, business continuity, information security and data privacy.
• Attend industry forums and events to stay current on industry best practice, sharing that information with AB’s global risk function.

Fiduciary Requirements

• Support client RFP and due diligence activities with regard to operational risk.
• Co-operate and co-ordinate with Compliance, Legal and Internal Audit on system and control issues.
• Co-operate and co-ordinate with other AB risk managers (eg. Infrastructure Risk Managers) in identifying material risks and mitigating material errors.
• Oversee the timely and accurate preparation of information in response to regulatory or other third-party requests.
• Ensure regulatory change related to operational risk is implemented and embedded in business practices. Engage with business stakeholders on other regulatory implementation (where appropriate).

Corporate Governance Responsibilities

• Support the Head of Operational risk in delivery of the firm’s Operational Risk Oversight Committee (OROC) and operational risk governance framework.
• Liaise with and support the chairs of the OROC’s subcommittees (such as the Privacy, Information Security and Vendor Management Oversight Committees).
• Assist with the development of the firm’s risk governance framework for ESG operational risks.
• Ensure issues escalated by sub-committees to the OROC are documented and addressed; and issues escalated by the OROC are delivered to AB’s Senior Risk Management Oversight Committee (SMROC) or AB’s Operating Committee, as appropriate.

People Management

• Attract high caliber and diverse talent to the firm;
• Mentor and contribute to the development of junior team members;
• Successfully manage direct reports to enable them to operate at their highest level;
• Engage in firm people activities (e.g. recruitment, performance management, promotion, change management, diversity and inclusion).

Key Behavioral Competencies:

• Executes in line with responsibilities and seeks to deliver an outcome;
• Creates opportunities for commercial impact, client relationships and cost reduction, while coaching others to do the same;
• Displays clear leadership and grows talent;
• Leads change;
• Communicates with clarity and impact;
• Positively influences the environment and culture of the firm and enforces inclusivity.

Role Requirements:

• Significant previous experience in operational risk management in the investment management sector.
• Experience implementing operational risk management policies and procedures.
• Experience implementing operational risk systems, reporting and management information.
• Experience delivering presentations to senior management and governance committees.
• Experience developing and delivering operational risk training.
• Knowledge of Excel; additional knowledge of computer programming languages such as Python a plus.
• Strong written and oral communication skills, demonstrating clarity and accuracy.