Senior Specialist, Enterprise Risk

BNY Mellon
New York, USA
Jun 02, 2023
Jun 17, 2023
Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time

The Team, Role, and Function:

The Enterprise Risk Assurance ("ERA") function is part of a growing team within the Enterprise-Wide Risk Management function within the Second Line of Defense. ERA provides assurance over the effectiveness of the Firm's design and implementation of systems and approaches for identifying, managing, monitoring, measuring, and reporting on the core risk and compliance activities governed by the Risk & Compliance function. ERA conducts reviews / continuous testing of the design and operating effectiveness of risk and compliance frameworks to pro-actively identify value-add solutions that optimize effectiveness and sustainability.

Responsibilities - External
  • Lead and conduct detailed audit-like testing activities to help deliver upon ERA's Third-Party Risk Review Plan. This includes:
  • Day-to-day management of a review, incl. developing a project plan, allocating tasks to team members, ensuring ongoing monitoring, coordination with and communication to team members and the manager, escalation to senior management, as needed
  • Test execution to evaluate the design and operating effectiveness of key controls and detailed analysis of completeness, accuracy, and quality of risk data
  • Identification, documentation and communication of issues to stakeholders, including conducting a root cause and impact analysis and evaluating appropriateness of remediation plans
  • Ensure workpaper documentation is comprehensive and complete, and the results are factually correct, including conducting in-flight quality assurance
  • Perform issue management activities which may include:
  • Validation of evidentiary matter submitted by issue owners to assess if remediation plans were addressed and reasonable actions were taken to remediate the issue root cause/s
  • Issue tracking to manage and monitor issues coming due, past due and any that require further escalation
  • Escalate serious instances of risk management unawareness to senior management
  • Develop routine reports /updates to be delivered to the appropriate business management stakeholders and the respective governance forums overseeing Risk & Compliance
  • Assist with periodic updates to regulatory bodies on the status of key Risk & Compliance remediation deliverables
  • Assist with the identification , recruitment, and ongoing development of talent

Required Qualifications and Skills:
  • Bachelor's degree in business, economics, public administration or related technical discipline is required
  • 7 years of total work experience is required
  • 2 years' experience in risk, compliance, internal audit, or 1LoD is required
  • Experience in a large-scale, matrixed environment is required

Preferred Qualifications:
  • MBA, MPA, or a graduate degree in a similar and/or related field is preferred
  • 10 years or more of total work experience is preferred
  • Experience with Risk Assurance is preferred
  • Strong Excel, SQL, VBA, and MS Office technologies is preferred

BNY Mellon assesses market data to ensure a competitive compensation package for our employees. The base salary for this position is expected to be between $77,750 and $111,000 per year at the commencement of employment. However, base salary if hired will be determined on an individualized basis, including as to experience and market location, and is only part of the BNYM total compensation package, which, depending on the position, may also include commission earnings, discretionary bonuses, short and long-term incentive packages, and Company-sponsored benefit programs.
This position is at-will and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation) at any time, including for reasons related to individual performance, change in geographic location, Company or individual department/team performance, and market factors.

Employer Description:

For over 230 years, the people of BNY Mellon have been at the forefront of finance, expanding the financial markets while supporting investors throughout the investment lifecycle. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments and safeguards nearly one-fifth of the world's financial assets. BNY Mellon remains one of the safest, most trusted and admired companies. Every day our employees make their mark by helping clients better manage and service their financial assets around the world. Whether providing financial services for institutions, corporations or individual investors, clients count on the people of BNY Mellon across time zones and in 35 countries and more than 100 markets. It's the collective ambition, innovative thinking and exceptionally focused client service paired with a commitment to doing what is right that continues to set us apart. Make your mark:

EEO Statement:

BNY Mellon is an Equal Employment Opportunity/Affirmative Action Employer. Minorities/Females/Individuals With Disabilities/Protected Veterans. Our ambition is to build the best global team - one that is representative and inclusive of the diverse talent, clients and communities we work with and serve - and to empower our team to do their best work. We support wellbeing and a balanced life, and offer a range of family-friendly, inclusive employment policies and employee forums.
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