Operational Risk Manager - Liquid Investments

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Date: Jan 3, 2021

Location: New York, NY, US

Company: New York Life Insurance Co

 

A career at New York Life offers many opportunities. To be part of a growing and successful business. To reach your full potential, whatever your specialty. Above all, to make a difference in the world by helping people achieve financial security. It’s a career journey you can be proud of, and you’ll find plenty of support along the way. Our development programs range from skill-building to management training, and we value our diverse and inclusive workplace where all voices can be heard. Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and service, supported by our Foundation. It all adds up to a rewarding career at a company where doing right by our customers is part of who we are, as a mutual company without outside shareholders. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

 

The Risk Manager – Liquid Investments position is within the Asset Management Risk Team which is part of New York Life’s Office of Risk Management. The position reports to the Chief Risk Officer of Asset Management. The Asset Management Risk Team is responsible for the oversight of the enterprise risk framework within a multi-boutique structure which includes traditional and alternative investment businesses. The team provides leadership in the formulation, modification, and implementation of enterprise risk policies, procedures, systems, and reporting for the identification and monitoring of risks.

 

Primary Duties and Responsibilities include:

  • Oversee the risk management practices of the asset management boutiques focused on strategies which are largely composed of daily liquid securities
  • Assist in the measurement, aggregation and monitoring of relevant risk metrics and analytics related to areas including liquidity and derivatives
  • Perform counterparty and securities lending risk assessments (e.g., policy review, exposures, collateral management, etc.)
  • Participate in the risk identification and assessment of operational processes (e.g., trade order management, settlements, valuation, etc.) by identifying and evaluating potential risks, either direct or indirect as well as identifying changes in risk within the operating environment
  • Work with business leaders, legal and compliance as well as auditors to develop and refine controls as well as written policies and procedures that strengthen the control environment while maintaining business effectiveness
  • Monitor SEC and other regulatory developments relevant to risk management and determine the potential impacts to the business

 

The candidate must have a strong background in portfolio and operational risk management within liquid investment products, primarily fixed income, including a fundamental understanding of derivatives.  The following are attributes and skills that are desired in candidates:

  • Risk management leadership within the asset management space
  • Exceptional project management and communication skills with the ability to effectively manage stakeholder expectations and convey control and risk matters to business leaders
  • Strategic and tactical thinker who is pro-active and works with a sense of urgency; detail-oriented while being able to see the ‘big picture’, self-starter who can make decisions and set priorities
  • Evaluate processes and related controls and consider appropriateness and alternatives while balancing the needs and functions of the business with regulatory and fiduciary considerations
  • Strong analytical, technical and problem-solving skills
  • Ability to work cooperatively with other internal departments and external service providers
  • Ability to work under pressure, multitask, prioritize and be flexible

 

Desired Skills and Experience:

  • Experience working with portfolio managers/traders or other front office asset management stakeholders   
  • Strong knowledge of operational risk management practices
  • Expertise of fixed income and derivative instruments
  • Counterparty risk evaluation
  • Strong knowledge in portfolio liquidity evaluation
  • Experience designing and implementing operational risk programs including risk and control self-assessments
  • Development and management of Key Risk (KRI) and Key Performance (KPI) indicators
  • A minimum of 7-10 total years
  • Bachelor’s degree is required and course work in Accounting, Finance, or Economics is preferred; MBA from a strong academic institution is a plus
  • CPA, CFA, PRM, and/or FRM designations preferred. Audit or compliance certifications a plus
  • Proficiency in, Microsoft Office suite of products, especially Excel and PowerPoint Bloomberg are a plus

#LI-MD1

EOE M/F/D/V

 

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Job Requisition ID: 82613 


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