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.

This position is a 2nd line operational risk manager, responsible for establishing appropriate risk management program and processes to effectively measure, monitor and control the relevant risks that may arise from BOCUSA custody business operations. The incumbent will oversee the relevant risk management activities, review and challenge relevant RCSA and Front Line Unit (FLU) risk identification, help develop and monitor operational risk Key Risk Indicators (KRIs), and provide SME input on relevant operational events or issues for root cause analysis and rectification.

Risk Oversight & Governance

Supporting the New Activity /Product Risk Management Team Lead to:

• Provide second line oversight of operational risk across custody operations.
• Review and challenge risk assessments, control testing, loss event data, and issue management performed by the first line.
• Participate in risk governance committees and support the development of risk appetite metrics and thresholds for custody-related services and operations.
• Prepare reporting for risk committees for oversight.

Risk & Control Assessment (RCSA)

Support the New Activity/Product Risk Management Team Lead to:

• Review and challenge the FLU RCSA for the custody business to ensure sufficient risk identification, appropriate risk measurement, and RCSA results as the subject matter expert (SME).
• Identify emerging operational risks and coordinate scenario analysis where needed.
• Review third-party risk management specific to sub-custodian networks and outsourcing arrangements.

Risk Assessment

• Facilitate and conduct risk assessment as related to the custody business to ensure risk taken is aligned with the bank’s risk appetite.
• Evaluate and challenge the effectiveness of risk control measures and monitor risk, and propose risk mitigation measures as needed.
• Monitor relevant operational risk-related Key Risk Indicator (KRI) and Key Performance Indicator (KPI), promptly investigating any breaches of limits or alert thresholds.

Incident & Issue Management

• Monitor and challenge the effectiveness of issue and incident management.
• Ensure timely escalation and reporting of material operational risk events.
• Assist with analysis and trends related to Key Risk Indicators (KRIs) and operational loss data.

Regulatory Compliance & Reporting

Assisting the New Activities Risk Management/Product Risk Management Team Lead to:

• Support risk reporting to the Operational Risk Committee (ORC), the Risk Management & Internal Control Committee (RMICC) and the Board (USRMC).
• Ensure risk management practices are consistent with the bank’s Risk Governance Framework and the Operational Risk Management Framework.
• Adhere to Regulatory Requirements: Ensure the institution's operational risk management and custody business developments comply with regulatory requirements. Keep abreast of key regulatory guidance and requirements impacting operational risk, BOCUSA branches and custody activities.
• Facilitate regulatory exams and internal/external audit reviews and promptly rectify any identified issues.

Partnership & Advisory

Support the New Activity /Product Risk Management Team Lead to:

• Act as a trusted advisor to the first line custody operations team, providing subject matter expertise (SME) on risk mitigation and control design.
• Partner with Compliance, Legal, and other relevant risk managers within the 2nd line of defense to ensure a coordinated approach to risk management.
• Liaise with Operational Risk Management Framework Governance and Oversight team to facilitate training and awareness sessions for custody operations staff on key operational risk concepts.

• Bachelor’s degree is required for this position
• A minimum of 6 years of experience in the Banking industry and operational risk management, combined with product risk management and in-depth knowledge of custody services business and operations for AVP level; a minimum of 7 years required for VP level
• Knowledge of operational or enterprise risk management concepts, frameworks, methods, and good governance practices
• Familiarity with third-party risk, business continuity and resilience relevant to custody operations
• Understanding of OCC Heightened Standards and related regulatory guidance around operational risk management
• Proficiency in Microsoft Excel, PowerPoint, and other reporting tools
• Experience with GRC tool is preferred
• Proficiency in Mandarin is preferred