Operational Risk Controllers - Equities, Fixed Income & Operations

29 Mar 2012
28 Apr 2012
Experience Level
Department Head, Entry Level, Officer
Contract Type

We have three newly created positions for creative professionals with strong influencing skills to work as Operational Risk Controllers covering the Equities, Fixed Income and Operations businesses respectively.

Operational Risk Control (ORC) is an independent function which is responsible for the implementation of the Operational Risk Framework across the Investment Bank. IB ORC is responsible for:

• Providing an independent and objective assessment of Operational Risk arising in the Investment Bank
• Assessing the integrity of each functions process to identify OR and the adequacy of the functions OR management techniques employed
• Assessing whether functions have set clear standards and responsibilities where business processes cover multiple functions Escalate all high and critical operational risks
• Providing independent review on both internal and external events
• Reviewing functions self-certification against control standards and measurement processes
• Assessment of New Business Initiatives
• Raising awareness within the Bank of the importance of our approach to operational risk, as part of the aspiration to embed it into the Bank's culture 

Primary Responsibilities/Function :

The Controller’s primary objective is to ensure the establishment and effectiveness of the IB Control environment within the assigned Business area as well as to ensure all Operational Risks are identified, properly assessed and recorded in the Operational Risk Inventory, and have adequate remediation plans to reduce the risks to an acceptable level.

Risk Controller responsibilities:

• Develop and execute the ORC strategy for the assigned portfolio
• Proactively supervise the identification, assessment, measurement, mitigation and monitoring of operational risk in the assigned portfolio
• Escalation of high and critical risks and those not adequately addressed to the Global/Regional Head of IB ORC
• Lead root cause analysis on internal operational risk events and, where deemed relevant, benchmarking analyses on events that occurred in the industry
• Stay abreast of industry news and regulatory developments pertinent to the assigned portfolio to facilitate a more proactive approach to risk identification and mitigation
• Partner with the business and to continually improve our operational risk control processes and business operating models; support business growth; and make informed cost/benefit decisions
• Coordinate with other risk control functions and leverage Group Internal Audit, Legal and Compliance and external reviews to develop a complete and integrated view of risk
• Provide expert guidance on the development of relevant policies and control documentation
• Help promote and instil a culture of operational risk management and operational excellence across the assigned portfolio
New Business Requests / Enabling business growth
• Support controlled business growth activities for Equities / FI / Operations business initiatives
• Review and assess new business proposals on a risk adjusted basis. Review the proposed impact on the control environment, ensuring that all operational risks are identified and addressed, and report and escalate relevant issues.
Thematic risk reviews
• Support the Equities / FI / Ops (EMEA) Risk Review programme
• Plan and perform structured risk reviews on key risk areas supporting the ORC objectives of enabling business growth, risk control and cost containment 


We are looking for candidates with strong relationship building, communication and analytical skills who have demonstrated an ability to work effectively with and influence people up, down and across organizations.

The candidate must be a self starter and entrepreneurial with relevant experience in a global organization and strong knowledge of capital markets and trading activity across multiple product lines and cross-product support functions – on a front-to-back basis. These roles require specific technical knowledge of trading products and Operations functions and significant relevant experience.

• Control expertise - Must possess strong knowledge of internal control design, traded product front-to-back processes, cross product support (incl. roles and responsibilities) and risk management principles.
• Functional experience - Must have experience in one or more of trading, product control, middle office, operations, business management, risk control and auditing (ideally combined with more recent functional experience); good knowledge of traded product information technology.
• Product knowledge – must have strong technical knowledge of equity products, a solid foundation in the building blocks of traded products, the functioning of capital markets and investment banking activities.
• Business experience – Must have experience in a global, multicultural, performance-driven organization; Must have experience in process and organizational design; Knowledge of Basel II and Sarbanes-Oxley preferred
• Industry experience – Must have knowledge of banking/securities industry regulatory, legal and accounting frameworks in UK and EMEA.
• Must have strong written and verbal communication skills with the ability to communicate complex issues succinctly and clearly to non-technical persons; Report writing for senior audience
• Ability to influence and persuade senior management and peers to adopt ideas
• Strong team building, relationship management, and project management
• Strong business analysis and problem solving skills. Ability to easily to manipulate and analyse broad range data
• Demonstrable professional integrity and a strong work ethic
• Comfortable with ambiguity
• Self starter with a track record of success and progression


UBS can offer you an environment geared towards performance, attractive career opportunities, and an open corporate culture that values and rewards the contribution of every individual. UBS is an Equal Opportunity Employer. We respect and seek to empower each individual and support the diverse cultures, perspectives, skills and experiences within our workforce.