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SalaryJob Description
Job Title: Deputy Chief Risk Officer (Deputy CRO) - UK
Industry: Banking
Location: United Kingdom
Salary: Competitive Salary Package + Benefits
Purpose of the Role:
The Deputy Chief Risk Officer (Deputy CRO) is a pivotal leadership role within the bank, directly reporting to the Chief Risk Officer (CRO). The Deputy CRO will collaborate closely with the CRO, assisting in the oversight and management of various risk functions. This position plays a crucial role in ensuring the effective implementation of risk management strategies and policies across the organization.
Key Responsibilities:
Risk Management Oversight:
- Assist the CRO in developing and implementing risk management strategies and policies across the organization.
- Provide oversight and guidance on credit risk, market risk, operational risk, regulatory compliance, financial crime, and conduct risk functions.
- Ensure the maintenance and implementation of a robust risk framework and infrastructure to identify, assess, and mitigate risks effectively.
- Collaborate with stakeholders to develop risk policies, procedures, and guidelines in alignment with regulatory standards and industry best practices.
Leadership and Team Management:
- Build and lead a high-performing risk management team, providing coaching, mentorship, and guidance to team members.
- Foster a culture of accountability, professionalism, and continuous improvement within the risk management function.
- Coordinate with other departments to ensure effective communication and collaboration in managing risks across the organization.
Strategic Planning and Decision Support:
- Collaborate with senior management to develop the bank's strategic direction from a risk perspective.
- Provide timely and insightful risk-related advice to the Executive Committee, Board of Directors, and other key stakeholders.
- Assist in the development of risk appetite statements and risk tolerance levels, ensuring alignment with the bank's overall objectives.
Regulatory Compliance and Governance:
- Stay abreast of regulatory developments and ensure compliance with relevant regulations, including FCA, PRA, and Bank of England requirements.
- Assist in the preparation and submission of regulatory reports, ensuring accuracy and timeliness.
- Support the CRO in fulfilling Senior Management & Certification Regime (SMCR) responsibilities and obligations.
Risk Reporting and Analysis:
- Develop and deliver comprehensive risk reports to senior management and the Board, highlighting key risk exposures and mitigation strategies.
- Conduct in-depth analysis of risk data and trends to identify emerging risks and areas for improvement.
- Ensure the accuracy and reliability of risk-related information and reports produced by the risk management team.
Cross-Functional Collaboration:
- Collaborate with internal audit, compliance, finance, and other departments to ensure effective coordination and integration of risk management activities.
- Liaise with external stakeholders, including regulators, auditors, and industry associations, as needed.
Experience and Qualifications:
General:
- Broad-based banking experience, particularly in a UK-based, foreign-owned institution.
- Experience in managing risk areas within a financial institution with a focus on emerging markets products.
- Proactive with excellent communication and influencing skills, particularly at the Senior Management level.
- Ability to anticipate issues, provide clear guidance, and identify solutions effectively.
- Analytical skills to assess data and interpret its impact on the bank.
Qualifications/Education/Training:
Required:
- Degree educated at honors level or equivalent, or a member of a relevant professional institute.
- Possess relevant business experience.
- Previous experience working in a Deputy CRO or similar senior risk management role within a UK-based bank
Desirable:
- Postgraduate business or management qualification.
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