IBRC Strategy Lead
CLS is the trusted party at the centre of the global FX ecosystem. Utilized by thousands of counterparties, CLS makes FX safer, smoother and more cost effective. Trillions of dollars’ worth of currency flows through our systems each day.
Created by the market for the market, our unrivalled global settlement infrastructure reduces systemic risk and provides standardization for participants in many of the world’s most actively traded currencies. We deliver huge efficiencies and savings for our clients: in fact, our approach to multilateral netting shrinks funding requirements by over 96% on average, so clients can put their capital and resources to better use.
CLS products are designed to enable clients to manage risk most effectively across the full FX lifecycle – whether through more efficient processing tools or market intelligence derived from the largest single source of FX executed data available to the market.
Our ambition to make a positive difference starts with our people. Our values – Protect, Improve, Grow – underpin everything that we do at CLS and define and shape a supportive and inclusive working environment in which everyone is encouraged to be open and forward-thinking.
Job purpose - major duties and responsibilities of the job
We are seeking a high performing, and highly motivated professional with a background in operational risk and control to help build out the In-Business Risk & Control (IBRC) function. This role will be part of an enterprise IBRC function and will reside within the COO Division. The specific responsibilities of this role include the following:
- Assist with, monitor and report on audit issue remediation across the first line divisions, including review of action plans and issue closure documentation for completeness, accuracy and effectiveness and completion of periodic updates in a timely manner
- Support first line divisions with raising incidents and operational issues and defining appropriate action plans
- Support first line divisions with completing and evidencing control testing and risk & control self-assessments
- Support first line divisions with completing process mapping for all activities ensuring risks and controls are effectively mapped, articulated and captured in risk and control artifacts and inventories.
- Support the IBRC function with leading the Third-Party Management Remediation (TPMR) enterprise wide.
- Act of point of contact for both second and third lines, attending and contributing to relevant internal forums and continuous monitoring sessions
- Assist in preparing reports and MI for both internal and external audiences
- Consult and advise IBRC management with organizational and operating model design
- Identify opportunities for process improvements to deliver operational efficiencies and greater risk mitigation and issue remediation
- In partnership with IBRC Management and Human Resources conduct skills and capacity assessments of the first line divisions on a regular basis
- Consult with IBRC Management, Human Resources, 2LoD and 3LoD in developing training and ongoing education programs.
- Contribute to divisional IBRC teams to capture staffing requirements and succession planning
- Lead maturation of risk and control inventories by helping first line teams improve articulation and identify gaps
- Support IBR&C team in driving the culture of engagement, teamwork and accountability.
- Support IBRC management in communications and the preparation of related materials regarding the maturation of the IBRC function.
- Support IBRC Management is the creation and sharing of key statistics, trends, and other relevant observations.
Knowledge, skills and abilities - competencies required for successful job performance
- Significant experience in a financial institution with exposure to risk & control and remediation processes
- Ability to operate in an independent manner
- Excellent communication and facilitation skills, ability to work across business units and departments
- Experience in evaluating staff for risk and control skills.
This role can be based in either NYC or New Jersey locations.
Expected full-time salary range between $170,000 - $250,000 + variable compensation + 401(k) match + benefits.
*Note: Disclosure as required by NY Pay Transparency Law of the expected salary compensation range for this role.
Our commitment to employees
At CLS, we celebrate diversity and consider this to be one of our strongest assets. We are committed to fostering an environment in which everyone feels comfortable to be who they are, and inclusion is valued. All employees have access to our inclusive benefits, including:
- Holiday - UK/Asia: 25 holiday days and 3 ‘life days’ (in addition to bank holidays). US: 23 holiday days.
- 2 paid volunteer days so that you can actively support causes within your community that are important to you.
- Generous parental leave policies to ensure you can enjoy valuable time with your family.
- Parental transition coaching programmes and support services.
- Wellbeing and mental health support resources to ensure you are looking after yourself, and able to support others.
- Affinity Groups (including our Women’s Forum, Black Employee Network and Pride Network) in support of our organisational commitment to embrace and always be learning more about DE&I.
- Hybrid working to promote a healthy work/life balance, enabling employees to work collaboratively in the office when needed and work from home when they don’t.
- Active support of flexible working for all employees where possible.
- Monthly ‘Heads Down Days’ with no meetings across the whole company.
- Generous non-contributory pension provision for UK/Asia employees, and 401K match from CLS for US employees.
- Private medical insurance and dental coverage.
- Social events that give you opportunities to meet new people and broaden your network across the organisation.
- Annual flu vaccinations.
- Discounts and savings and cashback across a wide range of categories including health and retail for UK employees.
- Discounted Gym membership – Complete Body Gym Discount/Sweat equity program for US employees.
- All employees have access to Discover – our comprehensive learning platform with 1000+ courses from LinkedIn Learning.
- Access to frequent development sessions on a number of topics to help you be successful and develop your career at CLS.