Operational Risk Analyst

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Key Responsibilities (but not limited to):

To assist the Senior Manager Operational Risk for the tasks as under :

• Ensuring that the operational risk management framework (ORMF) of the Bank is fit-for-purpose and fully meets regulatory requirements.
• Developing and embedding the key components of the ORMF – RCSA programme, OR Event management, Key Risk Indicator Reporting, Scenario analysis.
• Establishing and maintaining appropriate operational risk management systems, policies and procedures, and, where necessary, developing the infrastructure to support the operational risk framework.
• Providing Bank-wide training in the Bank’s operational risk framework, including the preparation of suitable guidance material for staff reference.
• Providing guidance and support to the business and support areas on all operational risk matters, including improving their procedures to mitigate operational risks appropriately.
• Improving the methodology used for determining operational risk exposure, bringing it in line with the requirements of Head Office, and, where appropriate, establishing an appropriate back-testing framework.
• Implementing an appropriate operational risk scenario assessment programme.
• The configuration and introduction of the operational risk system (ORC & Incident Manager) to automate some of the routine ORMF processes and drive ownership and embedding of the ORMF.
• The development and monitoring of the policy and framework for Third Party Risk Management and Outsourcing.
• Assist in bank’s Operational Resilience programme from Risk perspective.

Take a lead role in:

• Supporting OR senior manager to conduct Internal control self-assessment in line with Head Office guidance.
• Documenting and managing Operational Risk Incidents, tracking progress with remedial actions.
• Third Party Risk Management –embedding the process and procedures for TPRM, and working collaboratively with FinTech department on operational resilience and the implementation of TPRM Policy.
• Facilitating the Risk Control Self-Assessment (RCSA) annual review programme with departments to ensure that all material operational risks are identified, measured, monitored and controlled effectively. Where appropriate, challenge the business and support areas’ self-assessments.
• Maintaining and developing the Bank’s KRI reports for operational risk. Including collation of the bank-wide KRI reports for RiskCo.
• Utilizing external operational risk databases and other sources to support the implementation of RCSAs and KRIs in the Bank. Where appropriate, ensuring that the Bank’s submissions to external databases are timely and accurate.

Responsibility for the provision of policy, tools, techniques and support to enable conduct and compliance risk to be managed in the first line. Conduct monitoring and reporting to assess the design and effectiveness of first line controls and ensure consistency of definitions and measurement of conduct risk. To ensure policy and processes meet legal and regulatory requirements, identify opportunities to improve the framework and collaborate with the First Line of Defence to implement and embed changes.

Skills, Experience and Qualifications

• Educated to degree in numerate/financial/accounting discipline and/or appropriate professional qualification level.
• At least three year experience of implementing operational risk management frameworks, including a good knowledge of the methodologies for measuring and managing operational risk, in a commercial banking/treasury environment. Including the techniques for scenario and stress assessments.
• Working knowledge of wholesale banking and treasury products. Good understanding and experience of operational processes around such products.
• Familiarity with the PRA and FCA regulatory framework for operational risk. Excellent communication skills, both written and verbal, in English.
• Proficiency in evaluating bank processes and identifying weaknesses and risks.
• Good team skills, in particular the ability to work closely with the business and support areas whist maintaining independence.
• Able to influence and drive change.
• A desire to take responsibility and show initiative.
• An ability to work under pressure.
• An eye for detail.
• Strong problem solving skills. Willingness to have a hands-on approach, working in a small team environment.