Job Details

Chief Risk Officer

London, Greater London, United Kingdom, £175,000 - £225,000 , Permanent

Posted: 21days ago


Marcus Donald are currently looking to identify an experienced Chief Risk Officer to join a banking organisation in London. Experience working at this level within the Banking/Financial Services sector is a must. This is a very urgent requirement, with the plan of getting someone started before the current CRO retires, in place.

The UK Risk Department provides, in an integrated way, oversight of credit, market, operational, liquidity, reputational, regulatory and other risks in the UK Chief Risk Officer\'s (CRO) geographical area of control, as outlined in the allocation of roles and responsibilities in the Governance Framework Policy (GFP) and the Entities Risk Charter (ERC).

Chief Risk Officer - Welcome to the digital age!

Within this role you will be adding to the driving force behind transforming the business within delivering on a personal bank in the digital age\'.

There is a phased approach in place over the coming four years. For 2021 the focus will be on strengthening the foundation and building out the desired IT and human capabilities for the future. During 2022 - 2023 you will harvest the benefits from the work done during 2021, while making progress on several fronts. The business will implement a new engagement model for specific client segments, further reduce the number of branches and complete AML remediation efforts. The full benefits from the transformation will be realized by 2024 as a number of larger transformation activities will conclude.

Successful execution of the Bank\'s strategy requires a strong and effective Risk Management Function. This risk profile is managed on the basis of an integrated risk management framework, in which all risk types, cross-risk types and overarching risks are identified in order to provide a single, integrated view of the risk profile of the bank and its various businesses.

Chief Risk Officer - Risk Management Function

The Risk Management Function includes departments for the main risk types; Market & ALM/T Risk, Credit Risk (financial risk types) and Information & Operational Risk Management, Compliance Risk and Security & Integrity Management (non-financial risks). Risk Data & Analytics is a data and modelling enabler for all of Risk Management, centralising and standardising (historical) risk & compliance data to facilitate risk model improvements, reliable risk reporting, data driven analyses and efficient decision making.

The objective of the department is to advise on optimising the risk profile and managing all uncontrolled risks for the local organisation through:
  • providing an integrated overview across the risk taxonomy;
  • providing an integrated management framework of risk across businesses;
  • ensuring a single point of contact towards (local) regulators for risk matters;
  • monitoring and regular reporting of risks in a clear and concise manner; and
  • effecting checks to ensure adoption of policies, plans, rules and procedures to decrease the risk of unexpected losses or damage to the bank\'s financial position and reputation.
Within this role as UK CRO you have a specific focus on matters concerning multiple business lines, such as country wide regulatory risk issues, local funding issues and local country risk issues. Risk management activities (monitoring, reporting, and advice) are performed in close cooperation with the various risk departments on local and central level and encapsulate the full scope of risk factors in the bank\'s Risk Taxonomy, eg credit risk, market risk, liquidity risk, operational risk and business risks.

Ideal Experience required for Chief Risk Officer:
  • University degree in Economics, Econometrics, Business Administration, Statistics, Mathematics or related field or equivalent level of knowledge
  • Experience in risk management (or a similar role) within a banking environment. Expertise in risk management (or a similar role) in an international network environment
  • Managerial experience, leading a team of professionals within a financial institution.
  • Meaningful experience working with relevant external third parties, eg, regulators, rating agencies, investment banks, external auditors, consulting firms
  • Thorough knowledge of finance and related fields, ie, banking and financial instruments; credit and market risk; accounting rules and practices; and financial modelling
  • Thorough understanding of risk management and performance management methodologies
  • Thorough knowledge of Basel II regulation and regulatory capital requirements, as well as other legal and compliance requirements
  • Good understanding of bank IT systems, management information, and reporting systems
  • Sound knowledge of and/or experience with the different lines of business in the relevant geographical scope.
  • Overall vision on the developments in the financial industry and ability to relate this to the relevant geographical scope
  • Ability to represent the bank in a professional manner to all internal (eg management) and external (eg regulatory authorities) stakeholders
  • Uses one modern language (English) in communication with internal parties in:
    • the international organisation
    • formal internal documentation and presentations; and
    • with external parties (eg local regulators, rating agencies, other banks).
    • Depending on the situation in the relevant geographical scope, other language skills may be required.
If this position is of interest, please do not hesitate to contact Lola Reynolds for any questions that may need answering and/or further information regarding the company and role.

Job Details

London, Greater London, United Kingdom
£175,000 - £225,000