At a Glance
- Tasks: Support operational risk management and promote a positive risk culture across the bank.
- Company: Join a leading financial institution focused on risk management and innovation.
- Benefits: Competitive salary, professional development, and opportunities for career advancement.
- Other info: Dynamic role with opportunities to influence change and build relationships.
- Why this job: Make a real impact in managing operational risks and shaping the bank's future.
- Qualifications: 2-5 years in financial services with risk management experience preferred.
The predicted salary is between 45000 - 55000 £ per year.
The Operational Risk Analyst supports the Operational Risk department in the Bank’s 2nd Line of Defence activities in relation to the management of operational risk across all entities of the IB group. This includes:
- Assisting the team with the implementation of the Operational Risk Management framework
- Supporting 1st Line of Defence
- Recording of risks in existing and new businesses and products and associated action plans
- Raising awareness and promoting a positive risk culture with all stakeholders
The ideal candidate will have experience in risk and control and an understanding of a positive risk culture. They should have an interest in understanding the big picture of the markets the organization operates in and the overall trends. The focus will be on accurate capture of operational risks, improvement of the control environment and resolution of issues/actions.
What You Will Be Doing
- Support the implementation of the group-wide framework
- Organization and facilitation of risk management workshops (e.g., RCSA workshops, etc.)
- Coordination and facilitation of the implementation of the various risk management policies and procedures
- Identification of operational risks and the definition of appropriate controls
- Development of action plans to mitigate risks, challenge and test the effectiveness of controls
- Analysis of risk data such as loss events and other incidents and key risk indicators
- Investigation of risk events and incidents
- Provide day-to-day direction, guidance, training and support to the 1st Line of Defence for operational risk
- Quality control of Operational Risk Management projects
- Ensure capture of Operational Risk Events and actions are accurately reflected
- Participate in the development of new products, business initiatives and change management projects to ensure risks are captured
- Cooperation with risk and control functions across the unit/group
- Prepare actionable risk reports for internal and external stakeholders
- Prepare Operational Risk Management reporting to the local/group senior management and relevant governance committees
- Reporting on the progress against the approved operational risk management plan
- Development of operational risk policies and procedures
- Participate in the development of best practices for operational risk management at the group and unit level to ensure that the organization’s risk management processes are aligned to regulations and industry practices
- Act as a sounding board for new risk management initiatives
- Raise awareness for operational risk training
- Conduct training and provide guidance to staff on all aspects of operational risk management
- Disseminate and explain policies and procedures for operational risk management
- Carry out ad‑hoc tasks as directed by the Head of Operational Risk
- Provide oversight on the application of the Operational Risk Framework by the 1st Line of Defence
- Assist business areas with documentation of operational risk events and root cause analysis
- Coordinate production of Operational Risk Key Risk Indicator data, review and challenge the business
- Review and monitor actions taken by the 1st Line of Defence in respect of operational risks and events
- Participate in the preparation of the annual Operational Risk ICAAP as directed by the Head of Operational Risk
- Participate in the annual review of the operational risk register
- Identify potential areas of operational risk and control weaknesses in the business and propose remedial actions
- Support the Head of Operational Risk in the production of Operational Risk Committee materials
- Attend the Operational Risk Committee and other committees when requested
- Support the Head of Operational Risk in collation, analysis and reporting of operational risk data
- Participate in testing of the effectiveness of controls
- Build effective relationships with stakeholders
What You Will Bring
Education / Certifications
- Professional qualification in risk management desirable but not essential
- Evidence of professional development
Experience
- 2–5 years experience within the financial services sector
- Experience in building and raising awareness of issues and influencing direction and action
- Risk experience advantageous
Personal Attributes
- Excellent communication skills, both written and verbal
- Ability to influence and drive change, articulating benefits to a varied audience
- Strong presentation skills, relating theory to practical application
- Ability to interpret and analyse multiple sources of data and provide clear, coherent summary reports
- Confidence in delivering change and process management across the organisation
- Ability to learn and adopt new practices and techniques
- Manage a number of complex workflows and respond to urgent requests
- Capability to build constructive working relationships, challenge and influence people at all levels of seniority
Operational Risk Analyst employer: Bank ABC
As an Operational Risk Analyst at our esteemed bank, you will thrive in a dynamic work environment that prioritises employee development and fosters a culture of collaboration and innovation. We offer comprehensive training programmes, competitive benefits, and opportunities for career advancement, all while being part of a team dedicated to enhancing operational risk management across the organisation. Join us in our vibrant city location, where your contributions will be valued and recognised, making a meaningful impact on our operations and the financial services sector as a whole.
StudySmarter Expert Advice🤫
We think this is how you could land Operational Risk Analyst
✨Tip Number 1
Network like a pro! Reach out to folks in the industry, attend events, and connect on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching the company and its risk management practices. Be ready to discuss how your experience aligns with their needs and how you can contribute to a positive risk culture.
✨Tip Number 3
Practice your responses to common interview questions, especially those related to operational risk. Use the STAR method (Situation, Task, Action, Result) to structure your answers and showcase your skills effectively.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive about their job search.
We think you need these skills to ace Operational Risk Analyst
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Operational Risk Analyst role. Highlight your experience in risk management and any relevant skills that match the job description. We want to see how you can contribute to our positive risk culture!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about operational risk and how your background aligns with our needs. Let us know what excites you about working with StudySmarter!
Showcase Your Communication Skills:Since excellent communication is key for this role, make sure your application reflects your ability to convey complex ideas clearly. Whether it's in your CV or cover letter, we want to see your strong written skills in action.
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen on joining the StudySmarter team!
How to prepare for a job interview at Bank ABC
✨Know Your Risk Management Framework
Familiarise yourself with the Operational Risk Management framework that the bank uses. Be ready to discuss how you can contribute to its implementation and improvement. This shows that you understand the role and are prepared to hit the ground running.
✨Prepare for Scenario-Based Questions
Expect questions that ask you to analyse risk events or incidents. Prepare examples from your past experience where you've identified risks, developed action plans, or improved controls. This will demonstrate your practical understanding of operational risk management.
✨Showcase Your Communication Skills
Since the role involves raising awareness and training others on operational risk, be prepared to showcase your communication skills. Think of examples where you've successfully influenced stakeholders or facilitated workshops, as this will highlight your ability to engage with various audiences.
✨Understand the Bigger Picture
Research the financial services sector and current market trends relevant to the bank. Being able to discuss how these trends impact operational risk will show that you’re not just focused on the details but also understand the broader context of your work.
