Our client is a international bank based in West London with growth plans for its London operations. They specialise in retail banking and real estate finance.
In conjunction with the business units be responsible for implementing of the Operational Risk policies and processes, to implement Risk control self-assessments (RCSA) and system risk assessments, Scenario Analysis, Key risk indicators, incident capture and effective and meaningful Operational Risk Reporting
Through analysis of risks identified via the RCSA and any other relevant sources, facilitate the development of appropriate action plans by the business units to lines of business on issues related to Risk Assessment.
Undertake evaluation of the RCSA and provide feedback, prior to acceptance by line managers and the Risk function
Periodic review of the effectiveness of Controls used to mitigate the identified risks and where necessary as well as test such controls
Raising and agreeing on the subsequent actions plans emanating from the analysis of controls by the business areas, and tracking the plans to completionMaintain the Risk Register for the Bank and review quarterly, in line with Audit and Risk Committee reporting
Assist with the configuration and rollout of the Group Operational Risk system, in strong partnership with the Group Head of Operational Risk.
Prepare reports for management that measure risk profiles/risk appetite and highlight key risks/themes/trends
Raising awareness/profile of Operational Risk Management across all locations and act as the point of reference on all matters pertaining to Operational Risk
Tracking of outstanding actions arising from reports by regulators, internal and external auditors and other internal reports
Keep up to date with developments in the market, regulators, risk environment, etc.
To develop own professional expertise through on the job training, formal training and providing training to the team and staff
Provide strategic and tactical consulting to lines of business and branches on issues related to Risk Assessment and the Controls Assessment
Communicate significant issues to the CRO and make recommendations when weaknesses are identified
Investigate and report any Risk-related regulatory breach and propose remedial action
Assume additional responsibilities and lead special projects as assigned
Become an expert and go to person for staff for the system that is used to manage operational risk (currently Arc Logics)
Experience in Implementation of Operational Risk Assessment systems
Strong knowledge and understanding of business functions
A deep understanding and practical application of Operational Risk as a discipline within a banking environment, and the subsequent benefits from such implementation
Experience or understanding of the requirements and production of an annual ICAAP
Experience of having worked in both large and small institutions and comfortable in working with little supervision and taking responsibility, in a smaller organisation