The purpose of this role is to support the Head of Governance and Policy Risk in discharging their accountabilities through delivery of an array of expertise to CROs, Single Point Contact leads for Operational Risk ("OR") and others across the Second-Line, as well as to relevant First-Line colleagues.
This role includes development, enhancement and delivery of the Operational Risk Type Framework ("ORTF") and associated policies and standards, and delivery of training.
Operational Risk spans an array of potential for financial loss and negative impact on our clients and providers of capital. A developed understanding of this potential and the business case for minimising loss and impact is a requirement for this role.
From a regulatory perspective, under Section 320 of the European Union Capital Requirements Regulation (CRR) banks are required to demonstrate the ability to identify their exposures to Operational Risk and have in place an appropriate system of monitoring and control, Understanding this and other relevant regulatory requirements and guidance in respect of Operational Risk is a requirement for this role.
While the majority of risk management is done in the First-Line, the Group Operational Risk Team (GORT) team is accountable for monitoring and ensuring that Operational Risk is appropriately identified, assessed, understood/calibrated, controlled and managed, with Risk Appetite clearly articulated and supported by appropriate stress testing. GORT is also responsible for ensuring appropriate escalation, follow-up and learning from Operational Risk Events / Incidents.
Working in partnership with Country and Regional Second-Line Operational Risk experts, those charged with Operational Risk management in the First-Line and identified SMEs enterprise wide the team is charged with ensuring the adequacy of – and adherence to - a comprehensive Operational Risk Type Framework.
The role-holder is required to understand the role and responsibilities of the GORT team as a whole and how these are discharged by the team, actively contributing to development and improvement in the same, as well as to remain informed of pertinent industry and organisational developments.
The role-holder is responsible for supporting the development and enhancement of the OR framework, policies and standards to support all Businesses and Functions in line with the Operational Risk strategy.
This will be achieved through delivery of the following:
· Advice & Engagement: Offering a point of deeper expertise around more technical areas of operational risk, including subject matter expertise
· Governance: Develop and inculcate the right policy, process, technology and governance architecture, in partnership with ERM and Group Management where appropriate. Training: To support the Head of Governance & Policy in the development and execution of OR training. This consists of communication, delivery and timely feedback to ensure appropriate enhancements at Group and Country level.
· Support: Continuous collaboration with first and second lines to ensure the management and embedment of OR framework and policies. In terms of specific Governance and Policy responsibilities:
· Governance: Support appropriate governance and routines (committees, forums and other) to support the GORT's mandate.
· Training: Development of the content for Operational Risk training, partnering with Learning & Development for the delivery thereof.
· Risk Appetite: To support Risk Appetite definition for Operational Risk, ensuring the same informs risk identification and control design, where relevant, and proactively providing input and advice as to how to address any breaches.
· People & Risk Culture: Drive the engagement with Operational Risk enterprise-wide, supporting a culture that recognises and reflects Operational Risk in its operating model and its decision making
· Continuously enhance the OR framework and methodology, keeping abreast of external practises through research and participation in industry forums.
· Support the development of OR training to raise the overall skillsets of the function (both technical and soft skills); this to include development and execution of training interventions, e.g. report writing and soft skills
· Adhere to such other process and governance requirements as requested by line management, from time to time.
· Ensure all activity adheres to the Risk Management Framework, with a specific focus on ensuring an effective framework for the management of Operational Risks within the team as they pertain to the role.
· Demonstrate an awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role.
· Deliver 'effective governance'; capability to challenge colleagues effectively; and willingness to work in an open and cooperative manner.
The role holder will have experience in Operational Risk management within the Banking industry, including relevant regulation and industry trends. In particular, the role holder will demonstrate:
A rigorous and analytical approach to risk management
Experience in enhancing frameworks and policies
Proven experience in the development and delivery of training framework, polices and procedures
Experience of business partnering, including the ability to synthesise and articulate complex and technical topics clearly to diverse audiences
Ability to manage a diverse and challenging stakeholder community / team
Proven experience with co-ordination of many dependencies in a complex, large-scale environment
Excellent oral, written communication and presentation skills
Specific strong competence in the use of Excel for analysis of complex data and PowerPoint for communication purposes
Ideally the role holder will have specific experience of Operational Risk frameworks and have an in-depth knowledge of some of the key organisational and operational challenges faced by a Second-Line Operational Risk function. Experience of balancing cost targets with delivery need, as well as regulatory requirements, would also be helpful