Operational Risk Manager

This range is provided by IPOE Consulting. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more.

Base pay range

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Founder & MD @ IPOE Consulting – Let’s team up for excellence!

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. This will include ensuring buy-in from bank-wide stakeholders and working with HR team to embed this in the performance appraisal process.
• Drive enhancements 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, including a formal observation report to each department.
• 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), and ensure the meetings are effectively organised, operated and minuted, committee materials are well designed and prepared, communication and correspondence are adequately managed, committee actions are closely monitored and followed up, records and administrations are well maintained.
• Provide ORM contribution to initiatives and into other Bank-wide processes like ICAAP, Pillar 3 or other internal/external engagement as appropriate.
• Maintain a reasonably good understanding of business products and service offerings as well as the associated key processes and controls.
• Maintain a good understanding of sound industry practices and regulatory expectations such as Basel, PRA and keep Management abreast of emerging trends, areas of concern, notable external events, material changes in regulatory environment.
• Establish and maintain good relationships with business, infrastructure areas, Business Risk & Control (1B) as well as 2LoD control oversight functions to promote effective collaboration as well as sound understanding and effective embedding of ORMF Framework and its principle expectations across the bank.

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 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.

Seniority level

Mid-Senior level

Employment type

Full-time

Job function

Management and Other

Industries

Banking

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