BlackRock Operational Risk Director in Budapest, Hungary
BlackRock is one of the world’s preeminent asset management firms and a premier provider of global investment management, risk management and advisory services too institutional, intermediary, and individual investors around the world. BlackRock offers a range of solutions — from rigorous fundamental and quantitative active management approaches aimed at maximizing outperformance to highly efficient indexing strategies designed to gain broad exposure to the world’s capital markets. Our clients can access our investment solutions through a variety of product structures, including individual and institutional separate accounts, mutual funds and other pooled investment vehicles, and the industry-leading iShares® ETFs.
At BlackRock we are building something great in Budapest, our new global technology and Innovation hub, where we want to shape a culture in which challenge, development and innovation happen every day. Our mission as an organsiaiton is create a better financial future for our clients and BlackRock Budapest will enable this, through a relentless drive to make ourselves and our communities better. We are a diverse bunch of people who like to analyse, reinvent, and enhance how we work, and all in the pursuit of a better experience for our colleagues and clients. We offer The excitement to be a founder in a start-up with the security of a global, leading organization, where you will find innovation and inclusion are our competitive advantages. There are limitless problems to solve and opportunities for learning and development, alongside a team of clever and caring colleagues. Our culture is one of respect, challenge and stretch and we expect and value feedback. We believe that people reach their best potential when the different facets of their home, work and community are all cared about. We will have a fun, fast paced work environment located in cutting edge facilities, with competitive and innovative benefits, and the ability to define your role, pursue your aspirations and shape your future within Hungary and beyond.
BlackRock is seeking an experienced operational risk professional to represent RQA Enterprise Risk in its new Budapest office. This individual will be responsible for local implementation of the BlackRock’s enterprise risk management framework, policies and procedures. The person will be part of BlackRock’s EMEA Enterprise Risk management team, which is centered in London, and will work directly with BlackRock’s Budapest-based business units and senior management to help manage and control operational risks. BlackRock believes that the individual in this role should be able to engage effectively with local management and be able to influence the operational risk culture across the business.
The focus of the Enterprise Risk Team within RQA is on those risks which directly impact the corporate entity (i.e. BlackRock, Inc., or one of its subsidiaries), rather than the fiduciary risks assumed by funds/clients, such as investment risks and counterparty risks. The scope has typically been enterprise-wide, rather than fund- or product-specific, and has covered operational risk, corporate market risks, as well as other important areas like model risk and country risk. As part of the Enterprise Risk Team, the global Operational Risk team is responsible for all aspects of operational risk, including error investigation and resolution, new product and business change risk assessments, risk reporting / analysis and the maintenance and development of the operational risk framework, including facilitation of risk and control self-assessments.
The enterprise risk function remains closely engaged with the evolving regulatory environment and supervisory expectations, to ensure that BlackRock’s internal risk and control frameworks remain consistent with these, and to co-ordinate regulatory initiatives from an RQA perspective (for example, capital and liquidity assessments).
Finally, the Enterprise Risk team works with Finance, Compliance, Internal Audit and other control-related teams to ensure an integrated, efficient and complete approach to the risks and controls of the firm from an enterprise standpoint.
• Based in Budapest, the candidate will work closely with regional RQA team leaders, regional control function heads, and management of the businesses located in Budapest. It is expected that the individual will work closely with the Budapest Chief Operating Officer and Head of the Budapest office.
• Display strong leadership in helping to establish a strong operational risk management framework and culture - development and active promotion of the risk management framework and BlackRock risk-aware culture, including roll-out of operational risk framework tools and training.
• Analyse and report on operating events and errors arising across the business, ensuring data accuracy, integrity and consistency in the Operational Risk database.
• Analyse risk data and work with business areas to identify error root causes, material risks and control issues/themes and agree mitigating actions. Undertake risk reviews and advise on changes to processes and procedures across the business.
• Provide oversight and challenge to business areas on risk management, design and effective operation of controls, including Risk & Control Self Assessments.
• Provide support for the development of risk appetite and risk profiling, production of risk reporting for the Enterprise Risk team, Committees and Boards.
• As a member of the global RQA function, participate in global or regional risk initiatives, as required.
• Provide support for the operation of the risk and control management framework including the development of key risk scenarios and modelling for operational risk capital.
We are looking for people who are:
• Curious: You like to learn new things and have a healthy disrespect for status quo
• Brave: You are happiest outside your comfort zone
• Passionate: You feel personal ownership for the work you do and an aspiration to be better
• Open: You value and respect input from other
• Experimental: You make mistakes, but learn from them
• Geeky: You want to outsmart the problem.
You should have:
• Substantial experience in the financial industry, ideally a minimum of 10 years within a risk management function, preferably in an operational risk or an enterprise/corporate risk capacity. Experience within asset management is preferred but not essential.
• Able to work independently as member of a small team in a satellite RQA location.
• Displays courage of convictions and understands and acts according to BlackRock’s high fiduciary standard.
• Strong front to back knowledge of transaction lifecycle and associated risks & controls.
• Excellent analytical skills; critical thinking and problem solving skills.
• Excellent communication and presentation skills and an ability to work with all levels of the organization.
• Self-starter who is proactive and entrepreneurial; i.e. innovative and creative
• Enthusiasm and energy combined with a clear sense of how to “make it happen” through teamwork, engagement and commitment.
• Good negotiation skills and ability to resolve conflict between teams or individuals so that functional / organizational objectives are achieved.
• Proven leadership skills and ability to manage multiple responsibilities concurrently.
• Accuracy and attention to detail.
• Strong PowerPoint and Excel skills including report and graphics creation.
• Degree required. Advanced degree desirable.
Job Function: Risk Management
Organization: Risk and Quantitative Analysis
Title: Operational Risk Director
Primary Location: EMEA-Hungary-Budapest
Requisition ID: 172769
Job Posting: Sep 13, 2017, 8:57:35 AM
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