At a Glance
- Tasks: Lead risk strategy and frameworks for a platform-based banking business.
- Company: Dynamic banking platform focused on regulatory capability and innovation.
- Benefits: Hybrid working, competitive pay, and opportunity to shape risk governance.
- Other info: Flexible contract with potential for long-term opportunities.
- Why this job: Make a significant impact in a strategic role within a growing bank.
- Qualifications: Senior risk experience in regulated banking and strong PRA/FCA engagement.
The predicted salary is between 58349 - 71315 £ per year.
We are seeking an experienced Interim Chief Risk Officer to support a platform-based banking business as it develops its regulated banking capability and progresses towards authorisation. The CRO will work closely with the leadership team to define the organisation's risk strategy and risk profile and establish the governance, frameworks and capabilities expected of a regulated bank. This is a strategic but hands-on role. The successful candidate will bring significant senior risk experience from within a regulated banking environment together with strong PRA and FCA engagement experience. They will be comfortable advising senior leadership and the Board while also taking ownership of developing and implementing the required risk frameworks.
Key responsibilities
- Risk strategy and framework
- Define and develop the bank's overall risk strategy and enterprise risk management framework.
- Establish an appropriate risk taxonomy, risk appetite framework, policies, limits and supporting governance.
- Assess the risk profile arising from the business model, operating model, customers, products and platform-based infrastructure.
- Advise and constructively challenge leadership on the appropriate risk profile for the future bank.
- Translate risk appetite into practical limits, controls, monitoring and management information.
- Establish appropriate risk governance, escalation and Board reporting arrangements.
- Regulatory engagement and authorisation
- Provide senior risk leadership as the organisation progresses through the bank authorisation process.
- Support the leadership team in preparing for regulatory engagement, meetings, reviews and challenge.
- Act as a credible senior risk representative in interactions with the PRA and FCA as required.
- Anticipate and help address regulatory questions relating to the business model, risk profile, governance and financial resilience.
- Ensure the risk framework and associated documentation can demonstrate that the organisation understands and can effectively manage its material risks.
- Capital and liquidity
- Lead or provide senior oversight of the development of the ICAAP.
- Lead or provide senior oversight of the ILAAP and wider liquidity risk framework.
- Ensure capital, liquidity and risk appetite are appropriately aligned to the business plan and financial forecasts.
- Provide effective challenge over stress testing, scenarios, assumptions and management actions.
- Support the development of appropriate capital and liquidity governance and monitoring.
- Risk capability and implementation
- Establish proportionate frameworks for the bank's key financial and non-financial risks.
- Develop appropriate KRIs, risk reporting, management information and escalation thresholds.
- Help establish an effective three lines model with clear responsibilities across Risk, Compliance, Finance, Operations and Technology.
- Identify gaps against the required future-state risk environment and establish a prioritised roadmap to address these.
- Support the design of the longer-term risk operating model including capability and resourcing requirements.
- Support the transition to a permanent CRO and risk function as the organisation develops.
Essential experience
- Previous experience as a CRO, Deputy CRO or equivalent senior risk leader within a UK regulated bank.
- Strong understanding of the risk management requirements and expectations applying to regulated banks.
- Significant experience of direct PRA and FCA engagement.
- Strong enterprise risk management and risk governance experience.
- Demonstrable experience of developing or materially enhancing risk appetite frameworks.
- Strong ICAAP and ILAAP experience including stress testing, capital and liquidity risk.
- Experience advising and constructively challenging Boards and executive leadership teams.
- Experience presenting complex risk matters to Boards, Risk Committees and regulators.
- Ability to translate a developing business model into a clear, proportionate and defensible risk profile.
- Experience establishing or significantly developing risk frameworks rather than solely operating within established environments.
- Sufficient breadth to provide effective challenge across financial and non-financial risks.
- Strong written skills and experience producing Board and regulatory documentation.
Location: London - hybrid
Working days: 1-2 days per week, with flexibility to increase
Contract length: 3-6 months
Chief Risk Officer employer: BDO LLP
As a leading insurance company, we pride ourselves on fostering a dynamic and inclusive work environment that prioritises employee growth and development. With a focus on collaboration and innovation, our London and Manchester offices offer a unique opportunity to engage in meaningful work while enjoying the flexibility of mainly remote arrangements. Join us to be part of a team that values your contributions and supports your career aspirations in a thriving industry.
StudySmarter Expert Advice🤫
We think this is how you could land Chief Risk Officer
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like BDO LLP. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace Chief Risk Officer
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to BDO LLP.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on BDO LLP's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at BDO LLP
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with BDO LLP.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at BDO LLP will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former BDO LLP employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
