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Would you like to work for one of the World's largest banks in an exciting, dynamic and international environment?
We are currently recruiting for an Operational Risk Manager for our Operational Risk Management Department in Amsterdam.
About MUFG
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 120,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to “be the world’s most trusted financial group” through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.
About MUFG in the European Economic Area
Following the decision taken by the UK in 2016 to leave the European Union, MUFG has taken all of the necessary steps to ensure the continuation of all services to clients, regardless of their location. Clients located in the European Economic Area (EEA) access services through MUFG Bank (Europe) N.V. as well as MUFG Securities (Europe) N.V.
About MUFG Bank (Europe) N.V.
MUFG Bank (Europe) N.V. (MBE) is a fully-owned subsidiary of MUFG Bank, headquartered in Amsterdam. With offices throughout Europe, our teams provide clients with comprehensive financing solutions spanning Coverage & Structured Finance, Capital Markets and Transaction Banking, using MUFG’s global reach to provide bespoke solutions. With 73 green, sustainability, sustainability-linked and transition bond tranches in 2021 and 51 sustainability-linked loans in EMEA in 2021, MUFG is committed to supporting clients to achieve sustainable business growth.
Please visit our website for more information – https://www.mufgemea.com/mbe
Funciton Positioning
Operational risks are part of doing business. Although operational risks are everybody's responsibility, MBE requires organized and independent internal oversight, facilitation of the risk cycle, and advice to the organization. Operational Risk Management (ORM) is an integral part of the MBE Risk Framework and gets increased attention within MBE and in the wider EMEA context. This is triggered by growth/complexity of the operations of MBE, focus of the regulator on ORM topics, changes in the operations, developments in the external environment and regulations that impact operational risks.
ORM forms part of the Risk Management Division (RMD) which is responsible for:
Identification, assessment, monitoring and evaluation of all risks in the bank.
Support and advice in design and deployment of the overall risk management framework, including risk culture, policies, appetite and limits.
Challenge and escalation of risk and/or control issues to the Management Board.
ORM organizationally reports to the Head of RMD, which in turn reports to the Chief Risk Officer (CRO). The Operational Risk Manager reports to the Head of ORM.
Main Purpose of the role:
The Operational Risk Manager will support MBE in ensuring a fit for purpose risk management approach towards the identification, assessment and management of operational risks and issues within the bank, in line with the
ORM Framework. The role is responsible for ensuring that the risk identification and assessment for a specific set of operational risks is effective, and material risks are brought to the attention of senior management in a timely fashion with sufficient quality.
An important part of the role is to act as the ORM sparring partner towards senior management and First Line Risk Champions to guide and support them in managing their operational risks. The VP ORM acts as the business partner for several departments of MBE and amongst others ensures that
The department is aware, and acts upon, identified material operational risks and internal incidents
The Risk & Control Self Assessments are maintained by the department and reviewed / challenged
by ORM
Changes in risks and controls as a result of projects in the departments are timely managed and reflected in the GRC system
The department is able to effectively fulfill their 1LoD role and responsibilities
The VP ORM is responsible to maintain good knowledge of current and upcoming relevant regulations, supporting MBE in planning for timely regulatory compliance on ORM
The VP ORM actively contributes to a risk management culture which is open and considered positive and contributing to the success of MBE and MUFG.
The role includes the following:
Support Head of ORM department in promoting risk culture in the bank.
Take ownership for specific level 2 operational risks and act as the subject matter expert in this field towards the Management Board, relevant division heads and other stakeholders.
Provide expert advice and guidance to the 1st Line to ensure identification, assessment and consistent management of all material operational & IT system risks (including RCSA, SIIs).
Monitor adherence of 1st Line to MUFG’s framework of rules and policies as well as local laws and regulations and ensure embedding of risk management principles and practices in the Bank’s daily business operations.
Escalation of (potential) risk events or regulatory breaches in accordance with MBEs risk governance framework.
Contribute to increased risk awareness in the organisation by providing appropriate training, instruction, and advice.
Contribute to enhancement of (EMEA and MBE) risk management policy house, including drafting, reviewing and updating policies, methodologies, procedures and work instructions.
Provide advice and guidance to ORM team members including motivation, support and the sharing of best practice.
Promote changes to systems, processes and working practices in order to achieve operational control.
Pro-actively develop and maintain relationships with a wide range of key contacts in all areas of MUFG.
In order to be successful in the role, you will need the following:
Academic (master) degree in a relevant field of study, MBA or professional qualification (e.g. CPA/RA/RE) is an advantage
Tangible work experience (min. 8 years); the function requires wide practical experience with risk management in a regulated entity, either in 1st, 2nd or 3rd Line of Defence roles, or risk advisory roles. Good understanding of operational risk management is essential.
Extensive experience in developing risk assessment and maturity assessment methodologies
Experience around product governance in financial institution
Good overview of the operational risk types a bank is exposed to
Strong knowledge and experience of operational risk management in a licensed banking institution
Good understanding of relevant EBA guidelines and regulation in EU
Proficiency in writing and editing policy and procedural documents
Extensive experience of working across departments and functional fields
Experience in preparing presentations to senior management and regulators
Stakeholder management & engagement skills, ability to challenge and ask good questions
Experience in project management and driving initiatives
Fluent language skills in English
Preferred is also experience working with IBM OpenPages
Personal requirements:
Integrity and Responsibility
Balance Risk with Opportunity
Customer Focus
Demonstrate Global Perspective
Professionalism and Teamwork
Drive For Results
Collaborate and Build Partnerships
Communicate Effectively and Professionally
Challenge Ourselves To Grow
Influence and Inspire Others
Lead Change & Seek Continuous Improvement
Think Strategically
Manage and Develop Talent
What do we have to offer:
We offer you a role in one of the largest banks of the world in a growing and international environment. You have various opportunities to develop yourself and we will support you with that by offering various training and development possibilities.
We take into account your home situation and your ambitions and help you to balance work and private life.
Monthly team events.
To work in an ambitious, international environment with colleagues from different countries and cultures, who strive for the best.
Besides that we will offer you:
Gross salary based on experience and consistent with the market
8% holiday allowance and 13th month payment.
30 vacation days per year. Optional you can buy 15 additional days.
Commuting allowance based on annual public transport 2nd class, most economical way, or € 0,23 per km with a max of 75km one way.
€ 5,00 net remote working compensation per day, with a maximum of € 60,00 per month.
Possibility to order a mobile phone (up to € 800,-)
Possibility to order Office Equipment’s for the home office, (up to € 500,-)
Remote Working Policy i.e. Working From Home (WFH) and Remote Working in another Country.
Bicycle plan (fiscal benefit)
Company fitness (fiscal benefit)
Mental health workshops and budget for external courses (i.e. Dutch language classes).
Employee contribution towards Pension insurance (max 5%, currently 2%), our pension scheme is based on a defined contribution scheme.
Training & development possibilities paid by the bank
Additional information:
Acquisition in response to this vacancy is not appreciated.
The role is based in the Netherlands. All candidates need to be willing to relocate to the Netherlands. Internal employees will be supported in case of relocation.
For more information regarding this position you can contact our Talent Acquisition team at recruitment@nl.mufg.jp
We are open to considering flexible working requests in line with organisational requirements.
MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.
We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.