Operational Risk Associate Jobs in New York (NOW HIRING)

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.

The incumbent will support the efficient and effective operations of the Operational Risk Management Department.

Including but not limited to:

Expense Budget Management:

• Assist in the planning and management of the departmental annual expense budget, including categories such as consulting fees, consultant fees, legal expenses, training costs,  IT fixed assets expenses, department activity fee and etc.
• Ensure accurate budget forecasting, meticulous expense tracking, and thorough variance analysis.
• Oversee the budget execution status, diligently monitoring allocations and expenditures to maintain strict financial discipline.
• Facilitate procurement processes by reviewing purchasing requests and ensuring strict adherence to established budget constraints.
• Centralize the processing of invoice payment requests, ensuring timely and accurate submissions.

People Management Support:

• Manage the New Hire/Termination Checklist updates, ensuring seamless and compliant onboarding and offboarding processes for department personnel.
• Conduct monthly attendance checks, meticulously tracking and verifying staff attendance for compliance and reporting purposes.
• Maintain the departmental organizational chart, conduct insightful staffing analysis, and coordinate the annual skill assessment process.
• Manage the end-to-end consultant lifecycle, including Consultant New Hire Application approval requests, timesheet approvals, invoice payments, and Consultant Performance Evaluation Reports.
• Coordinate Consultant contract renewals and provide comprehensive support for consultant onboarding and offboarding procedures.
• Manage other relevant consultant-related paperwork, such as open requests, interview reports, and Statements of Work (SOWs).
• Prepare departmental staffing reports, providing insights into team composition and resource allocation.

Training Management:

• Conduct training needs assessments, at multiple levels of analyses, including but not limited to: the department level for its professional areas and the individual employee level to support its talent development;
• Submit, implement, and monitor execution of the annual training plan;
• Ensure the annual training plan covers legally required topics under the department/branch’s expertise
• Ensure the employees and consultants’ timely completion on all relevant mandatory training programs
• Submit training request per program with supporting documents, review and approve training requests, reports and expense reimbursement within the limits of authority
• Follow up with missing attendees, if any, of its initiated mandatory training programs
• Submit required training records to HRD in a timely manner and ensure the documents’ completeness and accuracy

Risk Reporting:

• Compile comprehensive risk management reports summarizing key departmental activities, achievements, and critical operational updates for management review.
• Compile and/or translate various Risk Management reports, including Key Initiative Implementation Status Reports, Major Event Reports and Head Office Reports, ensuring accuracy and timely delivery.

Business Continuity Coordination:

• Acting as the ORD-BCM team’s main departmental point of contact for all business as usual (“BAU”) business continuity related matters
• Promoting awareness of business continuity within their department
• Updating relevant BCM documentation at minimum annually or every time there is a significant change within the department
• Coordinating department participation in BCM exercises

Record Coordination:

• Assisting the Department Head in implementing record management practices, including all aspects of adherence to the requirements in the Policy, the Retention Procedure, the Record Retention Schedule, and related procedures,
• Providing expertise on records management issues and for coordinating the implementation of active records systems and Record Retention Schedule
• Determining whether the addition of a new record type on the Retention Schedule is appropriate, when an Employee determines that Bank records under their control are not included on the RRS, and have a business or regulatory record-keeping requirement,
• Addressing questions that arise and issue escalation, if applicable
• Working with the Department Head to safeguard records following the Record Retention Schedule.

ABAC Points of Contact:

• Assist the Department Head in identifying ABAC Sensitive Parties, ABAC Related Transactions, and ABAC Sensitive Activities in consultation and coordination, as necessary, with the ABAC Manager and LGO.
• Assist the Department Head in identifying and reviewing accounts, expenditures, and disbursements to be incurred by Covered Persons and Third Parties acting on behalf of the Bank, relating in any way to, or for the benefit of, ABAC Sensitive Parties.
• Assist the Department Head in obtaining, and be responsible for obtaining, required approvals and authorizations for all ABAC Related Transactions and ABAC Sensitive Activities.
• Escalate all questions or concerns regarding compliance with the ABAC Policy and this Procedure to the ABAC Officer, ABAC Manager, and/or LGO, as appropriate.
• Assist the Department Head in maintaining open and direct communications with ABAC Sensitive Third Parties regarding Bank transactions and activities involving in any way ABAC Sensitive Third Parties.
• Assist the Department Head in implementing and executing risk-based internal controls and any recordkeeping required by the ABAC Laws, the ABAC Policy, and this Procedure for each Owner Department’s respective transactions and activities.
• Assist the Department Head and responsible Owner Department staff in responding to ABAC-related questions presented in risk assessment questionnaires and other inquiries to ensure that such responses are accurate and complete.
• Act as the primary departmental liaison with the ABAC Manager and LGO.

Department Administrative Support:

• Manage office resource planning, including the efficient procurement of stationery and diligent oversight of the department's asset inventory.
• Oversee IT assets management, ensuring accurate inventory tracking, timely replacements, and strict compliance with all technology security policies.
• Serve as the primary liaison for Head Office Lotus Notes email forwarding requests, ensuring seamless and efficient communication flow between the Head Office and NYB Operational Risk Mangagement Department, within the department and across interdepartmental teams.
• Facilitate the User Access Tracker updates, ensuring accurate and up-to-date record-keeping of system access for critical security and audit purposes.
• Facilitate team-building activities to foster a positive and collaborative work culture.
• Conduct the Annual Abandoned Property Reconciliation process, ensuring meticulous compliance with all applicable regulatory requirements.
• Maintain and regularly update the department's Authorized Signature Lists.
• Administer the OA system application submission process, ensuring accuracy and timely processing.

• Bachelor’s degree in Finance, Accounting, Data Science, Business Administration, Economics, or a related field is required.
• Minimum 4 years of experience in business management, banking operations, or administrative support for AVP level; Minimum 1 years of experience in business management, banking operations, or administrative support for Associate level.
• Strong analytical and problem-solving skills, with the ability to interpret financial and operational data.
• Excellent communication and stakeholder management skills, with experience working cross-functionally.
• Proficiency in Microsoft Office Suite (Excel, PowerPoint, Word) and experience with business reporting tools.
• Strong ability to manage multiple priorities, meet deadlines, and drive process improvements in a fast-paced financial services environment.