Risk Manager
£80,000 - £90,000 + Bonus + Benefits
City of London

They are a highly regarded mid-size investment bank with over 270 employees. They have a commercial culture but are also highly collegiate and promote excellence in everything they do. They now have a newly created key role within their risk management department.

To be considered for this role, you should meet the following criteria:

  • Sound understanding of the key non-financial risks to which an investment firm is exposed and proportionate measures to manage those risks
  • Sound understanding of the role of the second line within a three lines of defence model
  • Strong awareness of the UK regulatory regime and key regulatory initiatives as they extend to non-financial risks and risk management processes (e.g. Operational Resilience, IFPR, Consumer Duty)
  • An understanding of environmental, social and governance risk (ESG) and the application of a risk framework to manage those risks
  • Experience in the design, operation and development of an enterprise wide risk management framework, preferably within a financial services firm
  • Experience in applying quantitative and statistical methods to the management of non-financial risks, to enable informed decisions on risk management to be undertaken
  • Ability to apply a logical approach to the quantification of risks and advise on pragmatic ways in which to manage risks
  • Experience of working with stakeholders of different types across an organisation, particularly those at department head and senior management level
  • Experience in implementing new regulatory regimes, including Operational Resilience
  • Ability to communicate complex subject matters effectively (verbally and in writing) to a diverse audience
  • Ability to question, actively listen, identify key points and reach and objective conclusion
  • Ability to independently prioritise work, while providing transparency to the Enterprise Risk Manager
  • Strong academic background, with a numerical, statistical, economic or financial degree.

The Risk & Compliance department, is responsible for providing 2LD monitoring, surveillance, oversight, challenge and advice as well as appropriate escalation and reporting on regulatory, market, credit, liquidity and operational risks facing the firm. Its role as an independent function includes ensuring the firm operates within the Board approved risk appetite through ongoing identification, assessment, management, monitoring and reporting of risk throughout the firm. The Risk Manager is part of the Risk team, which is focused on the maintenance and operation of the enterprise wide risk management framework and management of non-regulatory risk. Responsibilities include:

  • Day to day operation of second line processes and enforcement of policies to identify, assess, manage, monitor and report on non-financial risks across the firm, including: *operational risks including operational resilience, *cyber and information security risks, *environmental, social and governance risks, *reputational risks, *strategic risks, *people risks, *harms to clients, consumers and markets
  • Providing oversight, challenge and advice to first line business units on the management of non-financial risk within their respective business areas, to promote effective systems and controls, including: * control testing, * thematic reviews, * action tracking, * reporting of loss events, * risk and control self-assessments
  • Escalating risk issues, including breaches of risk appetite and risk tolerance to the Enterprise Risk Manager
  • Undertaking regular and ad-hoc assessments of specific non-financials risks, using quantitative and statistical modelling techniques where appropriate, providing recommendations for improved management of risks
  • Preparing regular reports and presentations for management, executive and Board level committees on risk profile and material risk issues (including attending those committees as required)
  • Identifying and implementing ways to mature the management of non-financial risks within the firm, specifically, within the second line of defence
  • Providing guidance and mentoring in the development of other members of the risk team
  • Providing critical review and advising on the development of firm-wide risk management policies, including provision of training to first line business units as required
  • Providing support in the first line implementation of the FCA Operational Resilience regime, and business continuity and disaster recovery arrangements
  • Responding to first line queries on the application of risk management policies to their business units, particularly those from department heads and senior management
  • Working constructively with the Compliance team to ensure regulatory risk (including financial crime and conduct risks) are effectively managed
  • Fostering strong relationships with key stakeholders across the firm, while maintaining the independence of the second line
  • Promoting and contributing to the maintenance and development of a positive risk culture across the firm