At a Glance
- Tasks: Lead the Operational Risk Framework and ensure effective risk management across the Bank.
- Company: Join a leading bank focused on innovation and risk management.
- Benefits: Competitive salary, professional development, and a dynamic work environment.
- Other info: Opportunity for career growth and to influence best practices in banking.
- Why this job: Make a real impact in shaping the Bank's risk culture and practices.
- Qualifications: 8+ years in Operational Risk Management and a relevant degree.
The predicted salary is between 80000 - 100000 € per year.
The Senior Operational Risk Manager is responsible for the Operational Risk (OR) Framework, Line 2 oversight of Operational Risk, and is responsible for ensuring that OR is effectively managed and controlled across the Bank and supporting an effectively functioning Enterprise Risk Management Framework (ERMF).
SMF4 CRO prescribed responsibilities for Fighting Financial Crime (fraud aspects only), Business Continuity Planning and Resolution Planning are delegated to the Senior Operational Risk Manager. Provides leadership, knowledge and experience to the Bank to enable effective management and control of OR within the ERMF. Supports the CRO and the Risk function in ensuring that an effective OR function is in place, supporting 1st Line teams with appropriate coaching, monitoring and aggregating information objectively for the executive and board.
Ensuring all Operational Risks are managed and controlled across the Bank within a clear taxonomy that informs and protects EAB through effective lessons learned and other feedback loops that build and maintain an effective risk culture across EAB, complementing the wider ERMF.
Principal Accountabilities & Duties:- Oversight: Ensures that 1st Line OR controls and processes effectively mitigate OR in accordance with Board-Approved Risk Appetite and are appropriately recorded and refreshed in the Banks Risk Register / Risk Map. Owner of the OR Framework, including the bank's approach to Risk & Control Self-Assessment (RCSA) processes, OR Assurance, and OR issues, event reporting, consolidation, analysis and feedback. Chairs the Operational Risk Committee, and makes presentations to other committees such as ERCC. Secretary to ERCC. Prepares and provides Risk MI Reporting on OR. Ensures that the OR Framework meets regulatory requirements.
- Challenge: Challenges 1st Line with regard to any new or existing OR, (including Operational Resilience) controls and processes. Works closely with 1st Line to identify new risks, concentrations of risk, trends, variances and anomalies, and ensure that risk mitigation is in place. Reviews and assesses OR event reports, drives effective and clear root cause analysis, corrective actions and provides effective feedback through lessons learned. Challenges results of 1st Line risk assessments within RCSAs. Performs 2nd Line reviews of specific areas and investigations when required by the CRO, or CEO. Ensures that new initiatives, functions and systems, as well as technological change is adequately assessed in terms of OR.
- Coordination: Maintenance of Operational Risk and Fraud Policies, supports the renewal of the ERMF. Ensuring Operational Resilience and OR practices are complementary, effectively coordinated and not duplicative. Maintenance of New Business Policy, Product Library, and coordination of the New Products approval process. Ownership of the Bank’s Fraud Risk Management approach. Education of EAB staff in OR matters, supporting the ERMF. Supports CRO in preparation for ERCC, Board Audit and Risk Committee (BARC) and follow-up on Actions.
- Risk & Regulatory Duties: Maintains knowledge of applicable regulatory requirements through effective horizon scanning. Reports policy/procedure breaches and areas of potential non-compliance and suspicions promptly upon identification in accordance with the Bank's Risk and Compliance policies and formal/informal escalation paths. Executes and tests all controls within own area to minimise risk of policy, procedure, risk appetite and/or regulatory breaches. Identifies new risks/control gaps within own area via own RCSA.
- Training & Competence: Completes all annual mandatory regulatory refresher training as per the Bank's training plans and deadlines. Proactively seeks to self-develop by completing technical and behavioural training required for role. Leads Risk Induction programmes for the Bank, ensuring new joiners grasp (among other things) the risk culture of EAB.
- Data Governance: Appointed Data Steward supporting the Data Owner in representing the interests of the Data Domain and responsible for the application of the Data Governance Policy within Risk.
- 8 years + in Operational Risk Management role in banking environment
- Higher education qualification BSc, BA or equivalent
- Fully conversant with the interactions between Risk Appetite, the control environment, event/incident management, the RCSA process and the effective aggregation of data into informative and forward-looking risk registers/maps, dashboards and board papers.
- Demonstrable effectiveness in coaching, training and influencing best practices.
- Good knowledge of Banking structures, business models, products, processes and Enterprise Risk Management.
- Deep understanding of Bank transaction processing flows, control frameworks, accounting.
- Awareness of developments in financial markets, wider Risk practices, and regulation.
Operational Risk Senior Manager in City of London employer: Europe Arab Bank
As an Operational Risk Senior Manager at our esteemed bank, you will thrive in a dynamic work culture that prioritises collaboration and innovation. We offer competitive benefits, including professional development opportunities and a commitment to fostering a strong risk management culture, ensuring that you can grow your career while making a meaningful impact in the financial sector. Located in a vibrant city, our bank provides a supportive environment where your expertise in operational risk will be valued and recognised.
StudySmarter Expert Advice🤫
We think this is how you could land Operational Risk Senior Manager in City of London
✨Tip Number 1
Network like a pro! Get out there and connect with people in the banking and risk management sectors. Attend industry events, join relevant online forums, and don’t be shy about reaching out on LinkedIn. You never know who might have the inside scoop on job openings!
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of Operational Risk Management. Be ready to discuss how you’ve tackled challenges in previous roles and how you can bring that experience to the table. Practice common interview questions and think about how they relate to the job description.
✨Tip Number 3
Showcase your expertise! Create a portfolio or a presentation that highlights your achievements in Operational Risk Management. This could include case studies, reports, or any relevant projects you've worked on. Bring this along to interviews to really impress the hiring team.
✨Tip Number 4
Don’t forget to apply through our website! We’ve got loads of opportunities waiting for you, and applying directly can sometimes give you an edge. Plus, it’s super easy to keep track of your applications and updates from us!
We think you need these skills to ace Operational Risk Senior Manager in City of London
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Operational Risk Senior Manager role. Highlight your relevant experience in Operational Risk Management and any leadership roles you've held. We want to see how your skills align with our needs!
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 you can contribute to our team. Be sure to mention specific experiences that demonstrate your expertise.
Showcase Your Achievements:When detailing your past roles, focus on your achievements rather than just responsibilities. Quantify your successes where possible, like improvements in risk management processes or successful training initiatives. We love numbers!
Apply Through Our Website:We encourage you to apply directly through our website for the best chance of getting noticed. It’s super easy and ensures your application goes straight to us. Don’t miss out on this opportunity!
How to prepare for a job interview at Europe Arab Bank
✨Know Your Operational Risk Framework
Make sure you have a solid understanding of the Operational Risk Framework and how it integrates with the Enterprise Risk Management Framework. Be prepared to discuss specific examples of how you've managed operational risks in previous roles, as this will show your expertise and readiness for the position.
✨Demonstrate Leadership Skills
As a Senior Operational Risk Manager, you'll need to lead and influence others. Think of instances where you've successfully coached or trained teams on risk management practices. Share these experiences during the interview to highlight your leadership capabilities.
✨Prepare for Technical Questions
Expect questions that dive deep into your knowledge of risk appetite, control environments, and incident management. Brush up on the RCSA process and be ready to explain how you've aggregated data into risk registers or dashboards. This will demonstrate your technical proficiency and analytical skills.
✨Stay Updated on Regulatory Changes
Show that you're proactive about keeping up with regulatory requirements and industry trends. Discuss any recent changes in regulations that could impact operational risk management and how you've adapted to them in your previous roles. This will reflect your commitment to compliance and continuous learning.
