Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

Bank of China New York (“BOCNY” or the Bank) Enterprise Risk Management Department (“ERM”) is responsible for managing the Bank’s enterprise risk as a function of second line of defense according to the Bank’s risk governance framework. The Associate will manage the Payments Risk in executing and overseeing the Payments risk management in Settlement and Custody, oversighting the front business units’ Payments risk management, and ensuring the Bank’s risk exposure within risk appetite, and protect the Bank with safe and sound risk management.

Include but are not limited to:  

Risk Governance 

• Administrator of the Payments Risk Committee
• Payments project management office for the department
• Build of strong governance in Payments risk management
• Management of internal audit and regulatory matters Program Execution
• Develop, execute and enhance of the Branch-wide Payments risk management
• Review, update and maintain all Payments related policies and procedures
• Execute Payments risk management processes to identify, measure, monitor, manage and report risks
•  Ensure the effective implementation of the Branch’s payments risk management through training, awareness and monitoring
• Promote sound Payments risk culture across the Branch by supporting and providing oversight to the first line of defense through various Payments risk management

Control Testing & Assessment

• Review and challenge Payments risk assessments conducted by both FLUs and IRM
• Develop Payments risk reports, and provide recommendations to remediate identified deficiencies
• Ensure a timely and efficient remediation plan is developed for Payments risk management issues, and oversee the implementation of rectification
• Implement and ensure execution of the exception management process

Risk Analysis and Reporting

• Aggregate Payments risk profile utilizing the appropriate methodology
• Ensure ongoing communication of risk initiatives to the relevant committees
• Respond to regulatory inquiries related to Payments risk management Management
• Provide training, feedback and professional development opportunities to team members (10%)
• Execute and ensure adherence to all policies and procedures impacting Payments Risk Management
• Ensure adherence to Branch policies and procedures

Project Support

• Support the execution of department strategic objectives

• Bachelor degree required; Master’s degree preferred

• Minimum 2 years of Banking work experience

• Minimum 1 year of Risk Management experience

• Minimum 1 year of Wholesale & Retail Payments or Custody experience

• CFA/CPA/FRM/MBA/PMP preferred but not required

• Bilingual ability in English and Chinese preferred

• Demonstrate Regulatory and compliance knowledge and Financial / banking industry and business line knowledge

• Demonstrate knowledge in Operational and/or Payments Risk Management framework