About this role
Title: Designated Person, Operational Risk Management, Vice President
Job Description
Business Overview
The Risk & Quantitative Analysis (RQA) group provides independent oversight of BlackRock’s fiduciary and enterprise risks. RQA’s mission is to advance the firm’s risk management practices and deliver independent risk advice and constructive challenge to drive better business and investment outcomes. While fulfilling this mission, RQA provides quantitative analysis and evidence-based insights to many of BlackRock’s businesses, helping to promote the spread of best practices across the firm. RQA promotes BlackRock as a leader in risk management by providing independent top-down and bottom-up oversight to help identify investment, counterparty, operational, regulatory, technology, and third-party risks.
RQA is committed to investing in our people to promote both individual accomplishment and a strong collaborative environment. As a global group, our goal is to create a culture of inclusion which encourages teamwork, innovation, diversity and the development of future leaders. We actively engage in discussions on career growth and work with team members to understand how personal passions and strengths connect with our purpose.
The Role of Designated Persons (“DPs”) in BlackRock Asset Management Ireland Limited (“BAMIL”)
The Company’s principal activity is managing collective investment schemes, authorised by the Central Bank of Ireland (“CBI”) as a UCITS management company pursuant to the UCITS Regulations and as an alternative investment fund manager (“AIFM”) pursuant to AIFMD regulations. The Company acts as an AIFM and UCITS management company to unit trusts and common contractual fund structures. As required by the Central Bank of Ireland (CBI), BAMIL has appointed a number of DPs who are responsible for monitoring and overseeing the six key managerial functions in line with applicable regulatory requirements.
The DPs report to a member of the Management Committee and have specific responsibilities to the Board and its Committees. The purpose of the role is to monitor and oversee the ongoing performance of BAMIL’s Operational Risk Management function. The DP for Operational Risk Management (ORM), supported by the local risk function, 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 enterprise risk framework, including facilitation of risk and control self-assessments, risk profiling and risk indicators.
Key Responsibilities:
The successful candidate will be a senior vice president responsible for overseeing the performance of the function and implementing risk management processes to ensure that operational risks remain within the Board approved risk appetite. As DP ORM they will have the following responsibilities:
· Responsibility for the oversight, monitoring and control of BAMIL’s Operational Risk Management Function
· Work closely with the Chief Risk Officer and the local risk function to design, implement and oversee the company’s risk management framework
· Responsibility for second line oversight of third party and outsourcing risk, technology risks and the management of operating events.
• Ensure that the risk profile for operational risk is aligned with the Board-agreed risk appetite and that disclosed to stakeholders
· Communicate regularly with senior management and other DPs to review material operating events or material operational risks identified by them, or reported to them, during their day-to-day activities.
· Coordinate with the Chief Operating Officer to ensure that oversight of delegates is in line with the Board-approved Outsourcing and Operational Resiliency Frameworks.
· Ensure timely and appropriate reporting to the Management Committee and Board.
• Present corporate and enterprise risk analysis (including Operational Risks) to the Risk and Management Committees.
• The role is subject to the Fitness & Probity Regime and the Individual Accountability Framework (IAF)
Requirements of the Role
• Minimum 10 years' relevant experience required.
• Expertise in relevant regulatory requirements for enterprise and operational risk management (e.g., Central Bank of Ireland, U.K. Financial Conduct Authority, UCITS and AIFMD, etc.) and ability to influence the evolution of the risk framework to meet heightened regulatory expectations.
• Demonstrable knowledge and track record in the implementation of enterprise risk management frameworks
• Proven ability developing and evaluating risk scenarios, overseeing operating events, remediation of controls, applying Risk and Control Self Assessments or Risk Indicators to manage and monitor risk as required
• Experience working with regulators and board of directors
• Excellent technical and regulatory knowledge - Risk Qualification or equivalent
• Leadership and strength of character to offer healthy challenge is essential
• Strong analytical, organizational and planning skills with ability to prioritize workloads and progress multiple tasks.
• Strong written and verbal communication skills.
• Prior Designated Person experience beneficial.
Our benefits
To help you stay energized, engaged and inspired, we offer a wide range of employee benefits including: retirement investment and tools designed to help you in building a sound financial future; access to education reimbursement; comprehensive resources to support your physical health and emotional well-being; family support programs; and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.
Our hybrid work model
BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.
About BlackRock
At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being. Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.
This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.
For additional information on BlackRock, please visit @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock
BlackRock is proud to be an Equal Opportunity Employer. We evaluate qualified applicants without regard to age, disability, race, religion, sex, sexual orientation and other protected characteristics at law.
