Senior Vice President, Operational Risk New Product Approvals
BBVA
full-time
Posted on:
Location Type: Hybrid
Location: New York City • New York • United States
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Salary
💰 $190,000 - $210,000 per year
Job Level
About the role
- Locally implement the corporate procedures regarding the NFR product/service admission process
- Manages the product introduction phase (i.e. pre-BASPAC)
- Secretariat of the local product/service admission committee (i.e. BASPAC)
- Advises the business on product admission requirements
- Analyze and evaluate whether a proposal should be processed through the BASPAC and/or other appropriate governance workflow
- Manage the initiatives in scope for BASPAC regarding new businesses, products, services, operations or outsourcing, among others
- Review control frameworks, processes, and policies/procedures to determine if risks have been appropriately mitigated prior to product/service launch
- Maintenance of all BASPAC documentation including presentation materials, meeting minutes, product supporting documentation, stipulations and conditions identified by subject matter expert teams, and the master catalogue of products and services
- Project manages the collection of required documentation and approvals
- Manages follow ups and BASPAC actions items
- Liaises with the Corporate team for all matters of new products/services
- Review completed documentation to identify risks, challenge results, and ensure compliance with governance requirements (i.e. holistic 2LOD oversight)
- Develop reporting dashboards and provide new product/service reporting to various governance forums
- Implement a formal post launch monitoring process to align with regulatory expectations
- Point of contact for all new product/service inquiries (e.g. regulators, auditors)
- Stay abreast to the latest regulatory requirements for product admission
- Continuously improve the process to identify efficiencies and improve the internal client experience
- Proactive participation in the strategic plans and projects related to new products/services
- Socialize the knowledge for operational risk management in NYB and BSI
Requirements
- Bachelor's degree required; postgraduate degree in the financial field (MBA or similar) valued
- Knowledge of US regulatory expectations for new product admission
- Knowledge of Internal Control and Operational Risk frameworks of the BBVA Group, specially oriented to CIB
- Knowledge of BBVA Group Non-Financial Risk management methodology
- Knowledge of risk and control models
- Knowledge of BBVA Ecosystem
- Knowledge in Corporate Banking business (global markets, syndicated and corporate loans, trade finance, supply chain finance, corporate transactional services, etc.) and its interaction with other business and support units
- Interaction with Bankers, Traders, Risk, Operations teams, Internal Auditors, Compliance Officers, Technology, and Operational Risk Managers, among others
- Knowledge on the design of the structure of an NFR model
- Extensive Work experience in the industry is crucial
- Experience gained in USA investment banking, specifically CIB products/services, is valuable
- Detailed knowledge of USA regulations
- Professional experience: New product admission process within the financial services industry
- Corporate & Investment Banking products
- Internal Control / Operational Risk / Compliance / Internal Audit or Non-Financial Risks area/projects
- Audit/Consulting areas/projects of/for Financial Institutions
- Risk management methodologies
- Fluent English required; Proficiency in Spanish valued
Benefits
- generous employee benefits package
- discretionary bonus
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard Skills & Tools
risk managementoperational risk frameworksinternal control frameworksproduct admission processregulatory compliancereporting dashboardsdocumentation managementprocess improvementfinancial analysisproject management
Soft Skills
communicationcollaborationanalytical thinkingproblem-solvingstrategic planningclient experience improvementproactive participationinterpersonal skillsorganizational skillsattention to detail
Certifications
Bachelor's degreeMBA or similar postgraduate degree