Operational Risk Manager - Challenger Bank

Posted 06 June 2023
Salary Negotiable
Job type Permanent
Discipline Risk & Analytics
Contact NameRichard Williams

Job description

Operational Risk Manager - £50,000-£65,000

The operational risk function is required to lead and promote a positive culture of learning and continuous improvement by promoting "Do it once, Do it right" across the Bank. The aim being to drive the bank towards operational excellence and best in class practices of process understanding, documentation and control with appropriate innovation and efficiency. All the activities within Operational Risk need to be fulfilled with this broad objective in mind.

More specifically, Operational Risk fulfils the role of engagement on and monitoring of Operational Risk KRI's, RCSA's and Risk Events at The Bank (UK) including appropriate, escalation and supporting remediation activities.

This senior role incorporates wider responsibilities including the production of reg reports, Recovery Plan and Resolution Pack, in close coordination with the CRO and support staff. Consequently, the role requires competent engagement at all levels of the Bank from new joiners to the Senior Executive and Board level.

The role holder is expected to be an influential thought leader, a proactive problem solver and a self-starter who needs little direction holding both the gravitas and thoughtful engagement to promote collaboration and collective solutions.

Regulatory Responsibilities:
  • To exercise the Certified Regime 'Significant management function' in accordance with the FCA and PRA's Certification Regime requirements - ensuring compliance with the Conduct Rules set out below.
Risk Control Responsibilities:
  • Support the CRO in building and developing a positive risk management culture across the Bank, working with employees continuously to ensure risk awareness is embedded and robustly understood.
  • Provide cover for and assist in other Risk analytical and project work and ad-hoc duties assigned by the Chief Risk Officer including providing cover for CRO absences from time to time.
  • Help with production of reg reports, Recovery Plan and Resolution Pack in close coordination with the CRO.
Operational Risk
  • Lead and host regular events and operational risk workshops including strong early engagement with new recruits on operational risk to set the tone for expected operational risk management behaviours across the Bank.
  • As the second line of defence, develop the banks operational risk management capability to investigate root causes and promote prompt, effective and lasting solutions.
  • Lead the oversight and challenge of the banks operational risk registers, KRIs and risk events to ensure operational risks are identified, assessed and mitigated.
  • Assist 1st line of defence in improving the control environment as part of operational risk management.
  • Ensure reporting is effective and robust, data is accurate, breaches are promptly identified, escalated in a timely and effective way and appropriate early warning tools are installed and effective.
Risk Identification
  • Drive the Risk Control Self-Assessment (RCSA) process, Risk Event process, Key Risk Indicators and the High-Level Risk Register, maintaining reports within the Bank's Operational Risk system of issues and actions; tracking actions to completion and challenging the business on the information captured to ensure matters are clear and easily interpreted.
  • Working with colleagues across the bank in co-ordinated and consistent approach to both the application of the operational risk discipline and resolution of operational risk issues.
  • Ensure that the Operational Risk framework is kept up to date with Risk Registers, KRI's and Risk Events.
  • Provide relevant and accurate MI on the operational risks in the business units.
  • Maintain and update the Risk Department's internal Procedures and Policies, in conjunction with the Senior Assistant Manager and the Manager.
  • Enhancement and automation of risk reports and tools with Excel functions and VBA where appropriate.

  • Assist with the gathering and analysis of KRI management information to identify areas of risk in business activities, working with the business to ensure that appropriate action is taken.
  • To assist in providing reports for EXCO, Board Risk Committee and the Board.
Skills required:
  • Strong knowledge of and experience in a range of risk management disciplines and internal controls.
  • Familiarity with key regulatory submissions, Recovery Plan and Resolution Pack.
  • Attention to detail - to pick up on errors and produce accurate work
  • Driven, ambitious, self-starter who can grasp a concept quickly and deliver a reasoned investigation and analysis.
  • Grasp of the reasons for a strong control environment and operates with this mentality
  • Experience of, or significant exposure to, working in a Trade Finance environment
  • Knowledge of Regulatory practices within Finance desirable
  • Personable and approachable to all levels of employees
  • Good understanding of the principles of risk management and risk management techniques
  • Understanding of the use and risks associated with Interest Rate Futures, Foreign Exchange, Interest Rate Swaps, Bonds and CDs, Wholesale Money Market and Trade Finance Products.
Software Knowledge required / desired:
  • Microsoft Office package MS Excel Advanced (Essential) VBA (Desired)
  • MS Word and MS Outlook