Head of Operational Risk (London)
To £95,000 + Bonus + Benefits
The private bank and London branch operation of a global banking group is looking for a Head of Operational Risk. There are 40 people in the bank in London and one direct report into the role.
SKILLS AND EXPERIENCE REQUIRED
- MUST HAVE: At least 4 years of experience in a senior risk role preferred in corporate risk management roles at a bank,
- MUST HAVE: At least 4 years of prior leadership position or as a No2 in corporate roles at an established bank,
- MUST HAVE: Excellent knowledge and experience of both operational and regulatory risk and must be able to obtain SMF4 and FCA approval.
- MUST HAVE: In-depth knowledge of banking products and services within a private bank and smaller London Branch of international bank, including the rules and regulations in the domestic and international landscapes
- Able to understand the Group's business model and strategic objectives and translate them into plans for Group Risk's organisational units
- Strong interpersonal skills, and excellent verbal and written communication skills
- Demonstrated managerial, leadership and facilitation skills,
- Credible advisor - thorough understanding of banking products and services as well as industry and regulatory standards, e,g, Basel, etc,
- Collaborative partner - ability to communicate effectively, clearly and concisely at all levels (internally and externally)
- Good presentational skills,
- Ability to manage relationships across different entities and regions (e,g, divisions, departments, etc,)
Reporting to the Global Head of Risk and dotted line to General Manager in London, as a second line of defence, the Head of Risk Management, London Branch is responsible to plan, develop and direct the implementation of risk management strategy and framework for the London Branch to ensure that risks undertaken are within the Risk Appetite of the Group. You will oversees all aspects of the Branch's second line of defence risk management functions and ensures effective implementation of the Group Enterprise-Wide Risk Management framework. You will ensure that the Branch complies with all banking laws, regulations, and internal policies and procedures as related to the role. You will also act as an advisor to the General manager, Senior Management and Risk Committees of the Branch in all material areas of risk (internal, as well as external events impacting the branch). Responsibilities include:
- Covers all risks undertaken by the Branch inclusive of Credit Risk, Operational Risk, Market Risk, Asset Liability Management (as well as other risks outlined in ICAAP).
- Plays a primary role in addressing requirements of local regulators with respect to risk matters of the Branch.
- Actively participates as a Member/ Chair of Risk Committees and other senior management committees as appointed by the Board of Directors.
- Executes all responsibilities of a Head of Risk for the Branch according to lawful and ethical standards as stipulated in the Group's policies and procedures.
- Ensure all risks undertaken are within the approved Risk Appetite of the Group.
- Assist to ensure that all shared financial targets set by the Board are met as relevant to the Branch
- Manage and control departmental expenditure within agreed budgets.
- Review and provide insightful and forward-looking views of the salient risk issues/matters of the covered entities to the General Manager and Risk Committees.
- Oversee the establishment of the Branch's risk policies, frameworks and procedures to support the stated business strategy.
- Oversee the planning and implementation of risk technology to address both regulatory and business needs,
- Build and maintain strong relationships with the Senior Management, business unit heads and business support heads, Ensure relationships are strategically forward-looking, highly collaborative and productive,
- Oversee and provide constructive challenge to the first line of defense in managing the risks of the covered entities,
- Introduce, promote and constantly evolve within a culture that adopts best practices for risk management in the covered entities with the highest standards of quality and integrity,
- Keep constantly abreast of market and regulatory developments that impact the covered entities' risk profile and capital levels, Make recommendations for suitable changes as required,
- Align effective risk governance to regulatory requirements and business needs.