Job Title:         Head of Enterprise Risk Management-UK

 

Client:             Banking

 

Location:         United Kingdom

           

Salary:             Competitive Salary Package + Benefits

 

Role Purpose:

Enterprise Risk Management (ERM) is a framework that provides the Bank with the ability to understand, address and manage its interrelated financial risks in the most effective way. ERM allows the Bank to appreciate its overall risk profile and ensures a better understanding of the interrelationships between different risk types (i.e., operational, market, credit, strategic & business etc). ERM will aim to improve the way the various risk specialists work with each other in forming the overall risk picture.

 

The purpose of the ERM function is to ensure that the Bank’s processes are conducted in accordance with the highest standards by providing independent objective oversight, challenge and assurance. Through a systematic approach, the function helps the Bank accomplish its objectives by evaluating and reporting on the effectiveness of risk management, controls and governance processes.

 

Reporting directly to the CRO, the Head of ERM is responsible for full oversight of the Operational Risk and Market Risk functions, thereby ensuring the safety and soundness of all operations and the systems of internal controls.

 

The function performs activities on the following schedule:

Daily

• Management of the Operational Risk and Market Risk teams.

 

Monthly

• Provide secretarial support to the Bank’s Enterprise-Wide Risk Management Committee “EWRMC”.
• Carry out Enterprise-Wide Risk Reporting and produce related MI.
• Attend and contribute to Bank-Wide Committees such as Risk Committee, ALCO, NPAC, Operations Committee and CCAC.
• Internal Audit Issues Tracking.
• External Audit findings tracking.
• Tracking of Bank-Wide issues (i.e., S166, self-identified by business heads etc).
• Engage with the outsourced Internal audit function to ensure that audit findings are being closed within target dates and that Audits reviews are not being delayed.

Quarterly

• Controls Activities – Control assurance testing summary document to be submitted to the BARCC.
• Attend Information Security Committee.

Annually

• Oversight of the RCSA Process which will be managed by the Operational Risk Manager.
• Liaison with Group Internal Audit during their annual visit.
• Maintenance of the Bank’s Risk Taxonomy.
• Develop and maintain an Enterprise-Wide Risk Management Policy.
• Project manage the ICAAP.

MI

• Monthly report to EWRMC, Operations Committee, CCAC and RC.
• Ad hoc quarterly reports to BARCC.

Ad Hoc

• “Deep dive” reviews and investigations requested by Exco and/or the Board.
• Policy Reviews.
• Involvement in risk related Bank-wide projects.
• Further embed Operational Resilience into the Operational Risk Framework. Provide effective second line challenge to the COO who owns the Operational Resilience Framework.
• Keep abreast of regulation which might materially impact the risk profile of the Bank.
• Deliver Bank-Wide risk training to help embed a strong risk culture.
• Continuous improvements of Enterprise-Wide Risk processes.
• Strengthen Cyber Security knowledge so that second line of defence oversight of the IT team remains effective.
• Deputise for CRO.
• Provide cover for the Operational Risk Manager as well as the Market Risk Analyst.

Assist the CRO in ensuring a strong and proactive risk management culture is embedded in the Bank and instill a culture of risk awareness to encourage good risk management practices throughout the organisation.

Monitor major and critical risk issues, track developments and escalate to CRO.

Cross functional liaison with Compliance and Internal Audit on risk matters to ensure there is an integrated risk/audit/compliance road map or framework to mitigate these risks.

Provide input into the ICAAP and assisting the CRO with the review of relevant risk related Regulatory Risk Returns (as appropriate).

Provide risk commentary and analysis for the CRO and targeted Management Information for informed decision making and submissions to relevant board and management committees.

Assisting CRO in the provision of risk education and training to all staff, supported by effective risk policies, procedures and documentation in place.

Involvement in new product development, new initiatives and activities from an operational risk perspective to identify any potential issues for the Bank prior to implementation.

 

Membership of Governance and other Key Committees

Executive Sub Committees: Invitee to Executive Risk Committee, ALCO and CCAC.

 

Experience

Technical

• Technical experience examples.
• In-depth knowledge and experience of risk function, particularly operational risk.
• Detailed knowledge and understanding of core banking, accounting and other IT systems.
• Regulatory rules and legislation – PRA, FCA and Bank of England.

General

• General experience and background experience for successful execution of the role.
• Banking experience, particularly in a UK-based, foreign owned institution.
• Emerging markets experience.
• Ability to anticipate operational risk issues, identify solutions quickly and provide clear guidance to mitigate the risks.
• Analytical skills to assess data and interpret the potential impact of operational risks on the Bank.

Qualifications/Education/Training

Essential        

• Degree educated; or
• Relevant business experience   

Desirable

• Degree in Finance, Economics or similar
• Member of a relevant professional institute

Key Competencies

Market Knowledge	Awareness and understanding of the wider business, economic and market environment in which the Bank operates: Knowledge of the regulatory and legislative developments affecting the UK and African banking market that the Bank operates in Knowledge of the competitive environment the Bank operates in – countries, customer and competitors – and any risk implications associated
Business Strategy & Business Model	Awareness and understanding of the Bank business strategy: Ensuring the business plan is compliant with the regulatory rules and regulations and considers known risks. Ensure that risk processes and procedures are embedded in the business model. Business continuity plan tested and maintained from a Risk perspective
Risk Management & Control	Identify, assess, monitor, control and mitigate risks to the Bank: Identify and analyse all risks which could impact the Bank. Assist in development of mitigating courses of action to counter the risks should they arise: Second line of defence in Risk Framework
Financial Analysis & Costs	Interpret the Bank’s financial information, to identify key issues based on this information and to put in place appropriate controls and measures: Zero Regulatory fines
Governance Oversight & Controls	Assess the effectiveness of the Bank’s arrangements to deliver effective governance, oversight and controls in the business and, if necessary, to oversee changes in these areas: Provide risk governance, ensuring an effective risk governance framework is in place
Regulatory Framework & Requirements	Awareness and understanding of the regulatory framework in which the Bank operates and the regulatory requirements and expectations: Ensuring the Bank is compliant with UK legislation, regulations and regulatory permissions. Input into Regulatory Reports, including ICAAP, Recovery Plan and Resolution Pack (RRP) Horizon monitoring and regulatory radar Comply with FCA and PRA conduct rules
Per Regulators Conduct Rules	Acts with Integrity, due skill, care and diligence. Is open and cooperative with the Regulators. Pays due regard to customers interests and treats them fairly. Observes market conduct standards.

 

Key Performance Indicators

• { "@context" : "https://schema.org/", "@type" : "JobPosting", "title" : "Head of Enterprise Risk Management (ERM) - UK", "description" : "

  Job Title:         Head of Enterprise Risk Management-UK

   

  Client:             Banking

   

  Location:         United Kingdom

             

  Salary:             Competitive Salary Package + Benefits

   

  Role Purpose:

  Enterprise Risk Management (ERM) is a framework that provides the Bank with the ability to understand, address and manage its interrelated financial risks in the most effective way. ERM allows the Bank to appreciate its overall risk profile and ensures a better understanding of the interrelationships between different risk types (i.e., operational, market, credit, strategic & business etc). ERM will aim to improve the way the various risk specialists work with each other in forming the overall risk picture.

   

  The purpose of the ERM function is to ensure that the Bank’s processes are conducted in accordance with the highest standards by providing independent objective oversight, challenge and assurance. Through a systematic approach, the function helps the Bank accomplish its objectives by evaluating and reporting on the effectiveness of risk management, controls and governance processes.

   

  Reporting directly to the CRO, the Head of ERM is responsible for full oversight of the Operational Risk and Market Risk functions, thereby ensuring the safety and soundness of all operations and the systems of internal controls.

   

  The function performs activities on the following schedule:

  Daily

  • Management of the Operational Risk and Market Risk teams.

   

  Monthly

  • Provide secretarial support to the Bank’s Enterprise-Wide Risk Management Committee “EWRMC”.
  • Carry out Enterprise-Wide Risk Reporting and produce related MI.
  • Attend and contribute to Bank-Wide Committees such as Risk Committee, ALCO, NPAC, Operations Committee and CCAC.
  • Internal Audit Issues Tracking.
  • External Audit findings tracking.
  • Tracking of Bank-Wide issues (i.e., S166, self-identified by business heads etc).
  • Engage with the outsourced Internal audit function to ensure that audit findings are being closed within target dates and that Audits reviews are not being delayed.

  Quarterly

  • Controls Activities – Control assurance testing summary document to be submitted to the BARCC.
  • Attend Information Security Committee.

  Annually

  • Oversight of the RCSA Process which will be managed by the Operational Risk Manager.
  • Liaison with Group Internal Audit during their annual visit.
  • Maintenance of the Bank’s Risk Taxonomy.
  • Develop and maintain an Enterprise-Wide Risk Management Policy.
  • Project manage the ICAAP.

  MI

  • Monthly report to EWRMC, Operations Committee, CCAC and RC.
  • Ad hoc quarterly reports to BARCC.

  Ad Hoc

  • “Deep dive” reviews and investigations requested by Exco and/or the Board.
  • Policy Reviews.
  • Involvement in risk related Bank-wide projects.
  • Further embed Operational Resilience into the Operational Risk Framework. Provide effective second line challenge to the COO who owns the Operational Resilience Framework.
  • Keep abreast of regulation which might materially impact the risk profile of the Bank.
  • Deliver Bank-Wide risk training to help embed a strong risk culture.
  • Continuous improvements of Enterprise-Wide Risk processes.
  • Strengthen Cyber Security knowledge so that second line of defence oversight of the IT team remains effective.
  • Deputise for CRO.
  • Provide cover for the Operational Risk Manager as well as the Market Risk Analyst.

  Assist the CRO in ensuring a strong and proactive risk management culture is embedded in the Bank and instill a culture of risk awareness to encourage good risk management practices throughout the organisation.

  Monitor major and critical risk issues, track developments and escalate to CRO.

  Cross functional liaison with Compliance and Internal Audit on risk matters to ensure there is an integrated risk/audit/compliance road map or framework to mitigate these risks.

  Provide input into the ICAAP and assisting the CRO with the review of relevant risk related Regulatory Risk Returns (as appropriate).

  Provide risk commentary and analysis for the CRO and targeted Management Information for informed decision making and submissions to relevant board and management committees.

  Assisting CRO in the provision of risk education and training to all staff, supported by effective risk policies, procedures and documentation in place.

  Involvement in new product development, new initiatives and activities from an operational risk perspective to identify any potential issues for the Bank prior to implementation.

   

  Membership of Governance and other Key Committees

  Executive Sub Committees: Invitee to Executive Risk Committee, ALCO and CCAC.

   

  Experience

  Technical

  • Technical experience examples.
  • In-depth knowledge and experience of risk function, particularly operational risk.
  • Detailed knowledge and understanding of core banking, accounting and other IT systems.
  • Regulatory rules and legislation – PRA, FCA and Bank of England.

  General

  • General experience and background experience for successful execution of the role.
  • Banking experience, particularly in a UK-based, foreign owned institution.
  • Emerging markets experience.
  • Ability to anticipate operational risk issues, identify solutions quickly and provide clear guidance to mitigate the risks.
  • Analytical skills to assess data and interpret the potential impact of operational risks on the Bank.

  Qualifications/Education/Training

  Essential        

  • Degree educated; or
  • Relevant business experience   

  Desirable

  • Degree in Finance, Economics or similar
  • Member of a relevant professional institute

  Key Competencies

  Market Knowledge	Awareness and understanding of the wider business, economic and market environment in which the Bank operates: Knowledge of the regulatory and legislative developments affecting the UK and African banking market that the Bank operates in Knowledge of the competitive environment the Bank operates in – countries, customer and competitors – and any risk implications associated
  Business Strategy & Business Model	Awareness and understanding of the Bank business strategy: Ensuring the business plan is compliant with the regulatory rules and regulations and considers known risks. Ensure that risk processes and procedures are embedded in the business model. Business continuity plan tested and maintained from a Risk perspective
  Risk Management & Control	Identify, assess, monitor, control and mitigate risks to the Bank: Identify and analyse all risks which could impact the Bank. Assist in development of mitigating courses of action to counter the risks should they arise: Second line of defence in Risk Framework
  Financial Analysis & Costs	Interpret the Bank’s financial information, to identify key issues based on this information and to put in place appropriate controls and measures: Zero Regulatory fines
  Governance Oversight & Controls	Assess the effectiveness of the Bank’s arrangements to deliver effective governance, oversight and controls in the business and, if necessary, to oversee changes in these areas: Provide risk governance, ensuring an effective risk governance framework is in place
  Regulatory Framework & Requirements	Awareness and understanding of the regulatory framework in which the Bank operates and the regulatory requirements and expectations: Ensuring the Bank is compliant with UK legislation, regulations and regulatory permissions. Input into Regulatory Reports, including ICAAP, Recovery Plan and Resolution Pack (RRP) Horizon monitoring and regulatory radar Comply with FCA and PRA conduct rules
  Per Regulators Conduct Rules	Acts with Integrity, due skill, care and diligence. Is open and cooperative with the Regulators. Pays due regard to customers interests and treats them fairly. Observes market conduct standards.

   

  Key Performance Indicators

  • It has come to our attention that clients and candidates are being contacted by individuals fraudulently posing as Antal representatives.  If you receive a suspicious message (by email or WhatsApp), please do not click on any links or attachments.  We never ask for credit card or bank details to purchase materials, and we do not charge fees to jobseekers.