Network & Counterparty Risk Manager 5/5/2020
Brown Brothers Harriman
JOB DESCRIPTIONAPPLY NETWORK & COUNTERPARTY RISK MANAGER
At Brown Brothers Harriman, we believe no job is too big or small for any of us to handle if it helps our clients. We value passionate, committed people who enjoy collaborating with others to find new solutions to complex business challenges. We are looking for the type of person who speaks their mind, truly listens and steps outside their role to add value wherever they can. Someone who is driven to get things done and views obstacles as an exciting challenge that demands a creative solution. Above all, we seek someone who takes great pride in their work and is inspired and motivated by their role in protecting and enhancing our client s financial well-being.
If you are looking for an entrepreneurial environment where you can learn and thrive, Brown Brothers Harriman is the right place for you
JOIN US AS A NETWORK RISK MANAGER
Brown Brothers Harriman is currently recruiting Network Risk Manager to join our Network Management Team. In this role you will be responsible for managing Brown Brothers Harriman s network of sub-custodian and correspondent bank relationships in over 90 markets and for delivering global market insights to our clients in alignment with our clients global investment objectives. Consistent with that mission, the global NCRM team is organized around three primary functions: Bank Relationship Management, Global Markets Information, and Risk Management.
The Network Risk Manager is responsible for the execution of the risk and regulatory framework for the department. Working closely with the Head of the Network Risk Group as well as the Department Head, the Risk Manager is responsible for ensuring that our Network Management program (including Oversight & Monitoring, Markets Products, and Client Reporting) incorporate regulatory requirements and external and internal Risk Best Practices.
As a liaison to our internal subject matter experts in OGC, Compliance, Risk, and Regulatory groups, the Network Risk Manager will keep abreast of regulatory changes impacting our Network Management Program (e.g., regulations impacting our subcustodian & clearing bank network, our clients, or BBH). In this capacity, the Risk Manager will ensure that the Management Team has a comprehensive understanding of the regulations impacting our Network and will work closely with the teams to ensure they are properly incorporated in our policies, procedures and deliverables.
Additionally, the risk manager is responsible for the delivery of our internal and external risk reporting. This may include required Foreign Custody Manager (FCM) reporting to our 40 Act Clients, Oversight Board Presentations, annual client due diligence packages, as well as reporting to internal oversight committees.
SOME OF YOUR KEY RESPONSIBILITIES INCLUDE:
RISK MANAGEMENT (36 - 50%)
* Maintain a strong understanding of risk and regulatory developments impacting our bank network.
* Act as a facilitator of contractual negotiations, maintaining ownership to track and monitor and advising the group when changes are required.
* Perform risk management responsibilities in collaboration with broader Network Management Risk team to ensure execution of best practices around contingency planning, business continuity planning, annual due diligence reporting and requirements, etc.
* Act as the primary in response to new regulations or risks impacting our network either directly or via regulatory change impacting our clients. Act as central lead on ensuring our network program is updated accordingly (including establishing internal working committee groups across network to assess potential impact, developing recommendations on changes required, establishing subcustodian and/or client communication plans, etc).
* Through active participation and internal market forums ensure that BBH s regulatory advocacy groups reflect a practical understanding of the operation of our subcustodian and cash clearing bank network.
* Serve as an active participant in cross divisional and industry working groups to support, assist and advocate on the review and analysis of regulatory matters related to our subcustodian and cash clearing bank network.
* Represent the Network Management group in the handling of market, bank and infrastructure disruptions impacting our subcustodian and cash clearing bank network and as a Network representative on the firm wide Event Response.
REGULATORY/COMPLIANCE (36 - 50%)
* Maintain knowledge of applicable laws and regulations governing the administration of our clients through the bank network (e.g., AIFMD, 17f-5, 17f-7, UCITS V, CSDR,etc).
* Lead annual assessment of subcustodians and cash clearing bank due diligence/monitoring policies, protocols and best practices to ensure they reflect current and evolving risk, regulatory and compliance considerations as well as internal policy requirements.
* Act as lead on the Network Management s compliance monitoring plan.
* Act as liaison to our global depository and trust function groups to ensure we maintain an awareness of the requirements on our bank network derived from this client group and perform the annual review of the service level document with these BBH entities and communicate to the groups material events.
* Coordinate with internal departments (e.g., OGC, Depositary Bank, Risk and Compliance) to ensure compliance with regulatory changes impacting the bank network.
* Ensure all Network products and reports comply with our risk and regulatory reporting requirements and the reporting of new risk considerations.
REPORTING (20 - 35%)
* Contribute to the preparation and presentation to oversight committees on risk reporting, escalation items and overall policy and protocols for the bank network.
* Participate in the preparation and delivery of client reporting such as quarterly Foreign Custody Manager (FCM) and subcustodian network reporting to our 40 Act clients and other regulated funds.
* Maintain information for standardized use in client due diligence and Request for Proposal responses received on BBH s subcustodian network.
* Document developments relating to risk and regulatory matters operating in global markets via network of subcustodian and cash clearing banks for purpose of presenting to our internal oversight committees and for client due diligence discussions.
* Maintain and update information on subcustodian assignments for global custody clients in department database for client reporting and account opening requests.
MANAGEMENT (20 - 35%)
* Act as a Network escalation point for our clients and internal partners.
* Lead staff in development of risk awareness and fostering a risk-aware culture.
* Assist in promoting a greater understanding of the risk and regulatory matters impacting the network of banks and markets to the department.
* Prepare materials for internal department notification and education, as well as speaking points for client engagement on risk and regulatory matters and/or for use in driving discussions with our subcustodian and cash clearing bank network.
* Participate client due diligence/board meetings to discuss risk and regulatory compliance priorities for the subcustodian bank network.
* Foster an innovative and inclusive team-oriented work environment.
* Bachelor s degree in finance or related discipline required.
* 7+ years of relevant work experience.
* Experience in the financial services industry.
We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, age, genetic information, creed, marital status, sexual orientation, gender identity, disability status, protected veteran status, or any other protected status under federal, state or local law.