Operational Risk New Product Approvals Senior Vice President

Main purpose and scope of the job

The BBVA C&IB US NFR team ensures that C&IB's non-financial risk levels are aligned with the Group's strategy and facilitate the development of the business and the profitability of C&IB.

This role will lead the management of the Non-Financial Risk (NFR) Product Admission process for BBVA NY Branch and BSI.

This includes implementation of the Corporate Product Admission model and promoting an appropriate NFR control environment across the organization corresponding to the risks associated with a new product or service.

Duties and Key Responsibilities

Reporting to the US Head of NFR, the main responsibilities of the role are

• 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

Education

• Bachelor's degree required; postgraduate degree in the financial field (MBA or similar) valued

Valuable Knowledge

• 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
• Global Project Management

Skills:

• Ability to produce documentation for Internal Audit and Regulators
• Excellent communication skills to articulate risk due diligence and NFR concepts
• Able to collaborate with stakeholders across multifunctional teams
• Excellent program and project management skills
• Strategic Vision, to understand and participate in the change processes and agile organization of geography
• Capability to generate consensus when different positions arise between business and control functions
• Ability and empathy to participate in a multidisciplinary team
• Capacity for continuous learning and proactivity
• Ability to produce senior management reporting through the use of key performance and key risk indicators

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

With respect to this position in our New York Office, the expected base salary ranges from $190,000 to $210,000. It is not typical for offers to be made at or near the top of the range. Salary offers are based on a wide range of factors including relevant skills, training, experience, education, and, where applicable, certifications obtained. Market and organizational factors are also considered. In addition to salary and a generous employee benefits package, successful candidates are eligible to receive a discretionary bonus.

*Employment eligibility to work with BBVA in the U.S. is required as the company will not pursue visa sponsorship for these positions