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- Tasks: Lead the bank's Operational Risk management and ensure best practices are followed.
- Company: Join an international bank in the heart of London, focused on excellence.
- Benefits: Enjoy a full-time role with opportunities for growth and development.
- Why this job: Make a real impact on risk management while collaborating with diverse teams.
- Qualifications: Degree in Business, Finance, or related fields; relevant experience required.
- Other info: Ideal for proactive individuals eager to learn and adapt in a dynamic environment.
The predicted salary is between 43200 - 72000 £ per year.
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Direct message the job poster from IPOE Consulting
Founder & MD @ IPOE Consulting – Let\’s team up for excellence! AKA the running recruiter.
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 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’s 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 the 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 process like ICAAP, Pillar 3 or other internal/external engagement as appropriate
- Maintain reasonably good understanding of business products and service offering as well as the associated key process and controls
- Maintain a good understanding of the sound industry practices and regulatory expectations such as Basel, PRA and keep Management abreast of emerging trends, areas of concerns, notable external events, material changes in regulatory environment
- Establish and maintain good relationship 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 product, 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
#J-18808-Ljbffr
Operational Risk VP employer: IPOE Consulting
Contact Detail:
IPOE Consulting Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Operational Risk VP
✨Tip Number 1
Make sure to familiarize yourself with the latest industry best practices and regulatory expectations related to Operational Risk Management. This knowledge will not only help you in interviews but also demonstrate your commitment to staying updated in this ever-evolving field.
✨Tip Number 2
Network with professionals in the banking sector, especially those involved in Operational Risk. Engaging with them can provide insights into the role and may even lead to referrals or recommendations that could boost your application.
✨Tip Number 3
Prepare to discuss specific examples of how you've contributed to risk management frameworks or policies in your previous roles. Being able to articulate your hands-on experience will set you apart from other candidates.
✨Tip Number 4
Showcase your communication skills by practicing how to present complex risk management concepts clearly and concisely. This is crucial for the role, as you'll need to convey important information to various stakeholders effectively.
We think you need these skills to ace Operational Risk VP
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities and requirements of the Operational Risk VP position. Familiarize yourself with the key tasks mentioned in the job description, such as developing risk management frameworks and maintaining relationships with stakeholders.
Tailor Your CV: Customize your CV to highlight relevant experience in financial services, operational risk management, and any consulting or auditing roles you've held. Emphasize your understanding of Basel principles and your ability to develop effective risk management policies.
Craft a Compelling Cover Letter: Write a cover letter that showcases your passion for operational risk management and your proactive approach to problem-solving. Mention specific examples from your past experiences that demonstrate your skills in communication, collaboration, and training development.
Highlight Key Skills: In your application, be sure to emphasize your excellent writing skills, ability to deliver presentations, and your experience in managing governance documentation. These are crucial for the role and will help you stand out as a candidate.
How to prepare for a job interview at IPOE Consulting
✨Understand the Operational Risk Framework
Make sure you have a solid grasp of the Operational Risk management framework and policies. Be prepared to discuss how you would develop and maintain these documents to align with industry best practices.
✨Showcase Your Communication Skills
Since excellent communication is key for this role, practice articulating your thoughts clearly. Prepare examples of how you've effectively communicated complex information in previous roles, especially in governance and normative documentation.
✨Demonstrate Stakeholder Engagement
Be ready to talk about your experience in engaging with various stakeholders. Highlight instances where you successfully gained buy-in for risk management initiatives or collaborated with HR on performance appraisal processes.
✨Stay Updated on Regulatory Trends
Familiarize yourself with current regulatory expectations such as Basel and PRA. During the interview, mention any recent trends or changes in the regulatory environment that could impact operational risk management.
