VP - Operational Risk Management


VP - Operational Risk Management

Job Title: VP - Operational Risk Management
Contract Type: Permanent
Location: London
Salary: £80,000 - £110,000 +bonus + bens
Start Date: ASAP
Reference: PW093672
Contact Name: Phillip Wood
Contact Email:
Job Published: January 27, 2017 18:52

Job Description

The independent Operational Risk Management (iORM) functions effectively monitor, assess and challenge material risk and key control issues within business divisions and infrastructure functions of the Bank. They effectively plan iORM activities to focus on material operational risks, operational decisions, change initiatives and concerning trends/emerging risks.

The team perform independent oversight of the implementation and embedness of the Group's Operational Risk management framework within the business divisions and infrastructure functions. They independently monitor the Operational Risk profile of the business divisions and infrastructure functions. They also independently assess material risks and/or key controls (as required), providing challenge, approval or veto as appropriate.

The independent Operational Risk Management (iORM) function is organised according to a divisional and regional (including Legal Entities) matrix.

Key responsibilities:

  • Contribute to the prioritisation of independent oversight, monitoring and assessment activities on a risk-basis through completing a quarterly risk priority and coverage plan for Corporate Banking and Securities.
  • Perform iORM activities.
  • Oversee the implementation of the operational risk management framework (ORMF) by business divisions and infrastructure functions e.g. perform relevant level 2 (ORMF) controls, as required by policies, to quality assure the implementation of the operational risk framework review quality assurance scorecard for trends on data issues, review divisional “use test” of ORMF components.
  • Monitor the operational risk profile e.g. review end-to-end process risk assessments and material operational risk information.
  • Assess key risks and controls e.g. review lesson learned and approve risk acceptances.
  • Measure quality and timeliness of execution against risk priority plan.
  • Provide effective and demonstrable challenge to the risk owners, where required.
  • Provide clear, demonstrable and risk-based challenge.
  • Measure evidence of effective challenge and resolution.

You will have:

  • A robust understanding of operational risk management practices and requirements.
  • A good knowledge of Investment Banking products processes and controls.
  • Strong influencing and negotiation skills.
  • Strong interpersonal skills

You will be:

  • An experienced operational risk professional.
  • Assertive, confident and articulate.
  • Experienced interacting with management.

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