AVP, Operational Risk (Wealth Management / Custody)

Office Status : Hybrid NYC

Overview

An international financial institution is seeking an Assistant Vice President, Operational Risk to join its wealth management and custody division. This is a second-line role with responsibility for overseeing operational risk frameworks, enhancing governance, and ensuring compliance with regulatory expectations. The position offers exposure to senior stakeholders, complex custody operations, and the opportunity to shape risk management practices at scale.

Responsibilities

• Provide second-line oversight of operational risk across custody operations, acting as a subject matter expert (SME).
• Review and challenge first-line risk assessments, control testing, loss event data, and issue management.
• Support risk governance committees through reporting, analysis, and development of risk appetite metrics and thresholds.
• Review and challenge Risk & Control Self-Assessments (RCSAs) for the custody business, ensuring robust risk identification and measurement.
• Monitor emerging risks, facilitate scenario analyses, and oversee third-party risk management (including sub-custodian networks).
• Evaluate and challenge the effectiveness of risk controls, proposing mitigation measures when necessary.
• Monitor Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs), investigating breaches or anomalies.
• Oversee issue and incident management, ensuring timely escalation and remediation of operational risk events.
• Support regulatory reporting, audits, and exams to ensure compliance with internal frameworks and external requirements.
• Partner with first-line business teams, Compliance, and Legal to advise on risk mitigation and strengthen the operational risk culture.

Seniority level

Mid-Senior level

Employment type

Full-time

Job function

Finance

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