About CLS:
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 information:
- Functional title – Director, Business Process Risk and Control
- Department – Chief Controls Office
- Corporate level – Director, Chief Controls Office - Business Risk and Control
- Report to – Executive Director, Chief Controls Office, Business Risk and Control
- Location – London
What you will be doing:
This is an exciting opportunity for a talented individual to join our newly formed Chief Controls Office (CCO), a dedicated first line risk and control function. This role has arisen due to the expansion of responsibilities, offering the successful candidate the opportunity to make an impact and actively contribute to the evolution of this new group.
As part of the CCO team, you will play a key role:
- Working directly with the Business Process Management Group to critically assess CLS’s business processes to identify risks and define/ enhance associated controls.
- Improving the oversight of risks, bringing subject matter expertise to partner with 1LOD business owners to proactively identify, assess and mitigate risks.
- Providing cross functional oversight across the first line, driving best practices and consistency in control standards for the effective control of risks to within risk appetite.
Driving behaviors to foster a risk-aware and risk intelligent culture where employees recognize their role as risk managers and the importance of the control framework.
What we’re looking for:
The role is a Director level at CLS which is equivalent to a Director or Senior Vice President in some banks.
The Business Process Risk and Control Director is a key member of the CCO team who will work directly with the Business Process Management (BPM) group. The BPM group are delivering a long-term, enterprise-wide initiative involving the mapping of CLS’s business processes. The objective of the initiative is to provide increased transparency and clarity over CLS’s processes; identify process related risks; and identify, define, and enhance associated controls.
This role includes but is not limited to:
- Act as the Risk and Control Lead for the Business Process Management initiative, leading Business owners and stakeholders through process risk and control reviews.
- Support the construction and maintenance of Business Process Maps (including Risk and Control mapping), partnering with relevant 1LOD stakeholders and mapping SMEs.
- Critically review CLS’s business processes to identify risks and define/ enhance associated controls.
- Coordinate and ead cross-functional workshops with business process owners, actors, subject matter experts (SMEs), and 2LOD colleagues to bear out process risks and mitigating controls.
- Drive best practices and consistency in control standards across CLS
- Demonstrable experience in technology related controls is essential (e.g. application specific controls (ITACs) and IT general controls (ITGCs)) with associated knowledge of IT control frameworks.
- Previous experience in business process management initiatives that drive risk identification and control enhancement.
- Contribute to the development, implementation, and enhancement of methodologies and ways of working, with respect to process risk and control assessments/
- Proven ability to adapt and work effectively across diverse business functions/ topics.
- Analyze data and generate insights/ reports related to Business Process Risks and Controls.
- Active engagement with Audit, also 2LOD Risk and Compliance.
- Review remediation plans from a risk/control lens to ensure risks are sufficiently addressed.
- Represent CCO in working groups or Committees as required. Must be an effective communicator, able to understand the detail but adapt the messaging to align with the audience/seniority of the forum including internal Committees, Board presentations and/or Regulatory communications.
- Build strong relationships with peers and senior stakeholders to enable cross functional oversight and develop and implement best practices.
- Share knowledge/expertise with junior members of the team, including coaching and training, driving consistency and ‘added value’.
- Proven experience of managing Internal Audit engagement, control delivery/remediation and audit validation either from a 1LOD ownership perspective or 2LOD/3LOD validation is preferred.
- Knowledge of Financial Services, Financial Markets Utilities or another highly regulated industry sector is essential.
Competencies required for successful job performance:
- Demonstrate enterprise-wide process mindset, linking individual activities to the wider process landscape to see the big picture.
- Comfortable in leading meetings and workshops across a variety of business domains/ functional topics.
- Challenge the status quo, be a catalyst for change, driving and cultivating innovative thinking to solve complex problems. Ability to ‘speak up’, break down barriers and provide constructive challenge.
- Attention to detail is essential, demonstrate high standards to control and oversight of risk.
- Take professional pride in making a difference, being proactive and delivering best in class solutions, creating long term value by addressing root cause issues.
- Build effective working relationships with multiple internal and external stakeholders, negotiating effectively to bring different viewpoints together as appropriate.
- Manage ambiguity, operating effectively and decisively to navigate a path forward.
- Excellent verbal and written communication skills with ability to adapt to the audience (junior/senior, internal/external) to be effective and meaningful, breaking down complex problems in an easy-to-understand manner.
Professional qualifications / certifications
- Qualifications in any of the following specialisms would be beneficial but not essential:
- Risk Management
- Business Process Management
- Internal Audit
- Technology process governance
- Compliance
- Working knowledge of process management practices (including process mapping) as well as knowledge and experience with associated tools (e.g. MS Visio, Aris, Signavio, etc.). would be beneficial
- Highly proficient IT skills in Word, Excel, PowerPoint and PDF.
#LI-KN1
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.
What We Do
In 2022, we celebrate 20 years of delivering unprecedented levels of risk mitigation, liquidity optimization and operational efficiencies.
Trusted by thousands of counterparties within the global FX ecosystem, 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 unrivaled 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 you can put your capital and resources to better use.
Our complementary products are designed to enable you to manage your 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.
