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- Tasks: Lead the bank's Operational Risk management and ensure best practices are followed.
- Company: Join an international bank located in the vibrant City of London.
- Benefits: Enjoy a dynamic work environment with opportunities for professional growth and development.
- Why this job: Make a real impact on risk management while collaborating with diverse teams.
- Qualifications: Degree in Business, Finance, IT or related fields; relevant experience in Financial Services is essential.
- Other info: Ideal for proactive individuals eager to learn and thrive in a fast-paced setting.
The predicted salary is between 72000 - 108000 £ per year.
International Bank based in the City of London. As an Operational Risk Manager, you will be responsible for ensuring that the bank adopts and embeds industry best practice for the management of Operational Risk. You will support with the ongoing development and maintenance of Operational Risk management framework and policies and by providing independent advice and oversight on the first line of defence (1LoD) Operational Risk management activities.
Key responsibilities will include:
- Develop and maintain the Operational Risk management document suite (framework and policies) to ensure they are effective, up-to-date and in line with common or leading industry practices or regulatory expectations.
- Develop a balanced Operational Risk management scorecard to measure the effectiveness of Operational Risk management practices across the bank at a department and individual level.
- Drive enhancement to the bank’s processes for capturing Operational Risk events to ensure that they are being completely reported in the Operational Risk management system.
- Continuously enhance and execute the Operational Risk management training programme consisting of various modules on key Operational Risk management topics and induction training for new joiners.
- Carry out the annual review of the bank’s risk appetite statement (RAS) and risk limit(s) for Operational Risk.
- Independently oversee the effectiveness of 1LoD execution of Operational Risk Management programme like RCSA, KI, Risk Event, External Events, Scenario Analysis, Control Management and provide independent advisory and challenges as appropriate.
- Drive or support the production of Operational Risk 2LoD reporting on the overall Operational Risk profile and the internal control environment of the UK operations.
- Act as or support the committee secretary for the Bank’s Operational Risk & Resilience Committee (ORRC), ensuring the meetings are effectively organised, operated and minuted.
- Provide ORM contribution to initiatives and into other Bank-wide processes like ICAAP, Pillar 3 or other internal/external engagement as appropriate.
- Maintain a good understanding of business products and service offerings as well as the associated key processes and controls.
- Establish and maintain good relationships with business, infrastructure areas, Business Risk & Control (1B) as well as 2LoD control oversight functions.
Requirements:
- Degree educated in Business Administration, Finance, Economics, IT, Law or other equivalent.
- Solid relevant experience in Financial Services, Audit or Consulting.
- Prior direct work experience in Business, Operations or other infrastructure groups is beneficial.
- Solid understanding of Basel Operational Risk Capital Requirement, BCBS Principles for sound Operational Risk management, Common ORMF as well as industry best practices around ORMF components.
- Excellent overall knowledge of Financial Services products, services, processes and Risk Management principles.
- Proactive, flexible and adaptable with a desire to learn and develop.
- Excellent communication skills with solid writing skills mainly for key governance and normative documentation and the ability to deliver compelling, well-structured presentations.
- Team player.
Operational Risk VP (2LoD) employer: IPOE Consulting
Contact Detail:
IPOE Consulting Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Operational Risk VP (2LoD)
✨Tip Number 1
Network with professionals in the financial services sector, especially those who have experience in operational risk management. Attend industry events or webinars to connect with potential colleagues and learn about the latest trends and best practices.
✨Tip Number 2
Familiarise yourself with the specific regulatory frameworks and guidelines mentioned in the job description, such as Basel and PRA. This knowledge will not only help you in interviews but also demonstrate your commitment to understanding the industry's standards.
✨Tip Number 3
Prepare to discuss your experience with developing and maintaining risk management frameworks. Think of specific examples where you've successfully implemented policies or improved processes, as this will showcase your practical skills during the interview.
✨Tip Number 4
Research StudySmarter's values and culture to align your responses during the interview. Understanding our mission and how we operate will help you articulate why you're a great fit for the team and how you can contribute to our goals.
We think you need these skills to ace Operational Risk VP (2LoD)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in Operational Risk Management, particularly in the financial services sector. Emphasise your understanding of Basel requirements and any direct work experience in Business or Operations.
Craft a Compelling Cover Letter: Your cover letter should reflect your passion for Operational Risk Management and your ability to develop and maintain risk frameworks. Mention specific examples of how you've successfully implemented best practices in previous roles.
Showcase Your Communication Skills: Since excellent communication skills are crucial for this role, ensure that your application demonstrates your ability to write clearly and persuasively. Include examples of key governance documents or presentations you've created.
Highlight Collaborative Experience: This position requires effective collaboration with various stakeholders. In your application, provide examples of how you've worked with different teams to enhance risk management processes or training programmes.
How to prepare for a job interview at IPOE Consulting
✨Know Your Operational Risk Framework
Make sure you have a solid understanding of the Operational Risk management framework and policies. Be prepared to discuss how you would develop and maintain these documents, ensuring they align with industry best practices and regulatory expectations.
✨Demonstrate Stakeholder Engagement Skills
Highlight your experience in engaging with various stakeholders across the bank. Discuss how you would ensure buy-in for the Operational Risk management scorecard and how you plan to work with HR to embed it into performance appraisals.
✨Showcase Your Analytical Skills
Be ready to talk about your approach to measuring the effectiveness of Operational Risk management practices. Prepare examples of how you've previously developed metrics or scorecards that provide insights into risk management performance.
✨Communicate Clearly and Effectively
Since excellent communication skills are crucial for this role, practice articulating your thoughts clearly. Be prepared to present complex information in a straightforward manner, especially when discussing governance documentation and committee materials.
