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Head of Operational Risk

London, United Kingdom, £ £ - Annual Annual, Permanent


This is an exciting opportunity with a mid-sized International Bank to embed the operational risk framework of the Bank within an agreed time-frame by the execution and adoption of the Operational Risk Management Framework (ORMF), which includes risk identification, assessment, management, monitoring and reporting of operational risks, with particular focus on scenario analysis, capital assessment, risk analytics and insight, risk appetite elements and MI reporting.

The Role:

* Oversight of the Operational Risk team as a second line of defense in the day to day execution and management of the operational risk framework to include key risk management activities such as: Operational Risk Event reporting and error resolution, Risk & Control Self-Assessment, New product risk assessment and change management, setting of Key Risk Indicators and training to the risk owners to promote awareness of operational risk.

* Support the Chief Risk Officer to embed the operational risk framework and strategy for the Bank within an agreed time-frame with emphasis on 1LoD ownership of the risk and control self assessments. This includes refining the Operational Risk governance, top risks reporting, risk appetite & tolerance metrics, strong control inventory framework, capital assessment using the standardised method, scenario analysis and MI reporting.

* Support the Chief Risk Officer to manage and constantly enhance the Risk Management Committee reports to ensure the dashboard on risk performance is well developed and appropriate.

* Own and drive the process of embedding the operational risk framework throughout the business areas and contribute to the risk and control culture of the organisation through knowledge sharing and awareness on the importance of risk management.

* Organise and facilitate workshops for end to end process mapping of key business processes, the identification and assessment of inherent business risks and controls

* Influence and monitor progress of action plans to improve the risk and control environment arising from risk assessments, risk monitoring, internal and external audits and regulatory inspections.

* Engage with stakeholders at Senior Management levels and Risk & Compliance functions providing support for risk-based decision making and assurance that controls are functioning well within the first line of defense.

* Develop and deploy a control framework for management of outsourcing risk and provide oversight, monitoring and challenge to the 1st Line to ensure no degradation in the outsourced service performance that may result in material risk.

* Act as second line of defense to ensure the business continuity plan, scenarios and DR

* Build and maintain credible relationships with internal and external stakeholders including external and internal audit.

* Promote an appropriate culture of awareness and attention to OR throughout the bank in line with evolving regulatory requirements by embedding the three lines of defense and enhancing the OR reporting and governance.

* Give quality advice, guidance and training to the business lines so that the business owners can manage its risks and meet its regulatory obligations

* Be aware, maintain knowledge and adhere to the relevant regulatory and legal obligation of the function managed, including local and wider group policies. This should include an understanding, and the appropriate application of the PRA and FCA requirements and the organisation's commitments.

About you:

- You will have experience of change leadership or transformation within the operational risk environment and/or

- Have been involved with regulators in remediating crystallised incidents and/or

- Have developed a strong operational risk network and knowledge of industry developments and/or

- Have operational risk related qualifications

* Minimum 10 years' Operational Risk Management experience of which a minimum of 5 years has been spent in managerial roles

* Solid quantitative and qualitative analytical skills, attention to detail and strong excel skills;

* Strong communication skills (both written and oral);

* Strong desire to build a career in operational risk management and the entire risk management spectrum

* Proven leadership and interpersonal skills with ability to work with a fair degree of autonomy and demonstrate initiative and a sense of personal accountability, but remain a team player and enjoy contributing in a cooperative environment;

* Ability to work well in a small, collaborative team.

Randstad Financial & Professional encourage applications from individuals of all ages & backgrounds. Appointment will be made on merit alone but candidates must be able to demonstrate their ability to work in the UK. Randstad Financial & Professional acts as an employment agency for permanent recruitment & an employment business for temporary recruitment as defined by the Conduct of Employment Agencies & Employment Business Regulations 2003

Job Details

Not Specified
London, United Kingdom
£ £ - Annual Annual