VP - Risk & Control Assessment Framework Manager


VP - Risk & Control Assessment Framework Manager

Job Title: VP - Risk & Control Assessment Framework Manager
Contract Type: Permanent
Location: London
Salary: £85000 - £120000 + bonus +bens
Start Date: ASAP
Reference: PW239232
Contact Name: Phillip Wood
Contact Email:
Job Published: January 27, 2017 18:50

Job Description

This role is for an experienced operational risk professional to join the Group ORM team in London reporting to the Head of R&CA Framework.  They will have with a deep knowledge of Risk & Control Assessment (R&CA) within a mature Operational Risk Management Framework (ORMF) in a tier 1 global bank. 

This role will appeal to someone who seeks to make an impact by applying their knowledge and experience to the R&CA Framework design and implementation support to help strengthen the Bank’s Operational Risk Management Framework (ORMF), system and practices to enable risk based decision-making across 1stLine of Defense and enhance 2nd Line of Defense risk governance and control assurance. 

The successful candidate will be responsible for transitioning, enhancing and embedding a new R&CA Framework from 3LoD Project into Group ORM and R&CA System requirements, within an ambitious timeframe, and ensure R&CA complies with the regulatory expectations and industry leading practice.

As the new R&CA Framework is embedded into the Bank as a ‘run-the-bank’ process, this role will focus upon integration with related ORMF components. Specifically Risk Appetite, Risk Acceptance, Self-identified Issues, Risk Reporting, Risk Governance and Capital Model.

Key Responsibilities:

  • Mange and develop the Group ORM R&CA team, circa 6 R&CA Analyst / AVPs.
  • Manage the transition, enhancement, syndication, approval, integration and embedding of R&CA framework from 3 Lines of Defense Program into ORM Framework and RtB operating model.
  • Determine priorities and manage resources to deliver enhancements in accordance with timeline for functional releases of R&CA System.
  • Ensure a detailed workplan is developed and timeframes are delivered against.
  • Ensure the R&CA framework, including process, policy and procedure, is developed to a mature standard which meets Regulatory requirements and industry best practice.
  • Enabling and monitoring R&CA implementation through engaging, influencing and training Divisional and Infrastructure Control Officers and their ORM teams.
  • Represent Group ORM to DB Regulators and industry bodies on the topic of R&CA framework as required.
  • Establish R&CA Centre of Excellence to provide R&CA SME support to 1 & 2 Lines of Defense across DB.
  • Provide SME input to R&CA Strategic tool development, testing and releases.
  • Support the R&CA integration into ORM Capital Model.
  • Design and execute assurance processes over R&CA Policy requirements.

The role will be based in London & will require working with ORM teams in UK, Germany, APAC and US, as well as 1LoD teams globally. 

You will have:

  • Experience in Operational Risk Management Framework, specifically R&CA / RCSA, concept, design, development, enhancement, implementation, oversight and assurance
  • Operational Risk Management Framework design and implementation experience in top tier financial services organisation
  • Experience in project management and change management
  • Proven strong influencing and stakeholder management skills with senior levels (MD’s and D’s).
  • Experience with developing and implementing assurance methodology for Operational Risk Management Framework requirements
  • Experience in solving complex R&CA reporting requirements, including vertical aggregation, horizontal ‘Front to Back’ / ‘end to end’ mapping, Region, Country, Legal Entity, Risk Type and Control Type
  • Appreciation of the regulatory environment in EMEA, UK, US and APAC and the lead regulator perspectives on Operational Risk

Highly Desirable:

  • Understanding of AMA requirements for Operational Risk Management
  • Experience developing and implementing inherent and residual risk scoring and aggregation methodologies
  • Experience developing, facilitating or conducting independent 2LoD R&CA challenge / validation process
  • Experience with establishing and maintaining R&CA taxonomies and libraries, including process, risk, control, cause and risk drivers

You will be:

  • Confident and articulate with excellent communication skills, comfortable presenting to senior stakeholder audiences (MD’s and D’s) eg, Divisional Control Officers, Risk Type Owners
  • Highly effective at influencing and relationship management to facilitate agreement on design
  • Highly effective at time management, multi-tasking and prioritization in order to meet agreed deadlines
  • Effective at operating professionally and maintaining focus under pressure
  • Pro-active, self-motivated and results-focused
  • Engaging and effective in dealing with difficult stakeholders who have conflicting interests

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