Director, Operational Risk Manager

About CLS:

CLS is the trusted party at the centre of the global FX ecosystem.  Utilized by thousands of counterparties, CLS makes FX safer, smoother and more cost effective.  Trillions of dollars’ worth of currency flows through our systems each day. 

Created by the market for the market, our unrivalled global settlement infrastructure reduces systemic risk and provides standardization for participants in many of the world’s most actively traded currencies.  We deliver huge efficiencies and savings for our clients: in fact, our approach to multilateral netting shrinks funding requirements by over 96% on average, so clients can put their capital and resources to better use.

CLS products are designed to enable clients to manage risk most effectively across the full FX lifecycle – whether through more efficient processing tools or market intelligence derived from the largest single source of FX executed data available to the market.

Our ambition to make a positive difference starts with our people.  Our values – Protect, Improve, Grow – underpin everything that we do at CLS and define and shape a supportive and inclusive working environment in which everyone is encouraged to be open and forward-thinking.

Job purpose 

This position is to support the Operational Risk team by being responsible for coverage of the Operations and Business Development & Client Engagement divisions (which include Operations, Resilience, Workplace Services, Client Engagement, Product and Human Resources) from a 2LOD operational risk perspective ideally with subject-matter-expert (SME) knowledge of Operations, HR and/or business continuity and recovery-related subjects. An Operational Risk Manager is expected to work independently with his/her stakeholders in 1LOD and in Business Risk & Control (BRC) to drive, guide and partner with them to facilitate implementation of the operational risk framework and deliverables while maintaining communication and engagement with the broader Operational Risk Management team.

Major duties and Responsibilities of the job

The primary role of the individual is focused on the following:

• Support refinements of ORM and ERM framework by educating and engaging with stakeholders to implement the framework
• Provide 2nd Line of Defense review and challenge across the CLS Risk Taxonomy in all components of the ORM Framework whist assisting business partners with their identification of process / control related issues which may surface during the completion of the risk self-assessment.
• Work with business partners to facilitate the completion of business risk-self assessments and targeted operational risk assessment in projects
• Perform root cause analyses on identified risk events to recommend improvements to prevent risk events from re-occurring in future.
• Analyze and identify trends in the key risk indicators, Incidents and Issues Management reported to Risk Management.
• Driving and instilling a good Risk Culture with stakeholders
• Actively participating in relevant governance fora as required (i.e., the Operational Risk Council)
• Manage stakeholders at all levels of the corporation

Strategic

• Monitor Framework adherence and develop tools/communicate requirements to key stakeholders to ensure adherence with ORM risk policies, procedures and best practices
• Interface with key stakeholders and Senior Management Committees
• Partner with area subject matter experts and executive management to ensure appropriate ORM governance
• Identify and appropriately escalate operational risks that exceed risk appetite.
• Identify opportunities for process improvements to deliver increasing operational efficiencies
• Participate as part of business project workstreams to provide ORM subject matter expertise and guidance

Operational

• Works with business units to establish, maintain and continuously improve risk management capabilities across CLS.
• Facilitates and participates in enterprise-wide risk assessments and recommendations.
• Conducts risk management education and training as appropriate.
• Collaborate with business units to minimize operational issues emanating from CLS

Leadership

• Act as stakeholders’ main point of contact representing ORM – creating opportunities to provide education related to ORM topics and “lead by example” (i.e., timely resolution of items that need to be addressed, providing suggested solutions/guidance when required/appropriate, taking initiative to manage required deliverables and stakeholder resources/capacity)

Knowledge, skills and abilities 

Competencies required for successful job performance

• Good judgement and decision-making skills
• Excellent communication & Influence
• Teamwork & Professionalism
• Able to work independently, as required

Qualifications / certifications

• Background/subject-matter-expert (SME) of Operations, HR and/or business continuity and recovery-related subjects (able to articulate anticipated areas of risk, knowledge of industry practice/standards related to relevant processes and practices)
• Experience in MS Office suite, including Excel, Word, Powerpoint and Visio, RSA Archer, Reporting Platform including PowerBi or Tableau
• Minimum 10 years of relevant work experience

 #LI-DK1

Our commitment to employees:

At CLS, we celebrate diversity and consider this to be one of our strongest assets. We are committed to fostering an environment in which everyone feels comfortable to be who they are, and inclusion is valued. All employees have access to our inclusive benefits, including:

• Holiday - UK/Asia: 25 holiday days and 3 ‘life days’ (in addition to bank holidays). US: 23 holiday days.
• 2 paid volunteer days so that you can actively support causes within your community that are important to you.
• Generous parental leave policies to ensure you can enjoy valuable time with your family.
• Parental transition coaching programmes and support services.
• Wellbeing and mental health support resources to ensure you are looking after yourself, and able to support others.
• Affinity Groups (including our Women’s Forum, Black Employee Network and Pride Network) in support of our organisational commitment to embrace and always be learning more about DE&I.
• Hybrid working to promote a healthy work/life balance, enabling employees to work collaboratively in the office when needed and work from home when they don’t.
• Active support of flexible working for all employees where possible.
• Monthly ‘Heads Down Days’ with no meetings across the whole company.
• Generous non-contributory pension provision for UK/Asia employees, and 401K match from CLS for US employees.
• Private medical insurance and dental coverage.
• Social events that give you opportunities to meet new people and broaden your network across the organisation.
• Annual flu vaccinations.
• Discounts and savings and cashback across a wide range of categories including health and retail for UK employees.
• Discounted Gym membership – Complete Body Gym Discount/Sweat equity program for US employees.
• All employees have access to Discover – our comprehensive learning platform with 1000+ courses from LinkedIn Learning.
• Access to frequent development sessions on a number of topics to help you be successful and develop your career at CLS.