Description
We have an immediate need for an Operational Risk Specialist with a strong Insurance/Asset Management background.
The client is looking for someone with a positive can do attitude and excellent communication and Stakeholder Management skills.
Background and Purpose
This role is for a seasoned Risk professional in the Operational Risk Team at the client Head Office within the Group Risk Department. The Group Operational Risk Team's prime stakeholder is the Board and Group Risk Committees. The team is charged with articulating the Board's operational risk appetite through the ongoing development of the Group Operational Risk Policy, standards, limits and frameworks and providing insight and assurance regarding the material operational risks across the Group.
As policy owner, the team develops, maintains and provides guidance to the Global Business Units (BUs). As an oversight function, the team reviews, challenges and aggregates material operational risk exposures reported by BUs as well as performs an independent top-down operational risk assessment to provide Group Risk's own view of the material operational risks of the Group and how well they are being managed.
The Group Operational Risk team works alongside the Group Enterprise Risk Management Team, Group Emerging Risk Team, Group Financial Risk Management Team, and Group Actuarial.
Key areas of focus are;
- Developing and maintaining the Group Operational Risk Framework;
- Promoting consistent application of the Framework across the business;
- Offering guidance and support to the business units (BUs) on the associated framework, policies and standards;
- Coordinating the annual governance sign-off relating to Operational Risk;
- Forming an informed view of the overall business' operational risk profile;
- Providing insight and assurance regarding the material operational risks across the Group;
- Reviewing and challenging material operational risk exposures reported by the BUs;
- Aggregating and reporting operational risks against risk appetites to appropriate Risk Committees; and
- Facilitating and coordinating the Solvency II Operational Risk capital scenario processes
Accountabilities
- Participate in the delivery of the following:
- Policies, Standards and Statements relating to Operational Risk Management remain relevant, representative of the business and that they continue to evolve.
- Risk Reporting continues to evolve and provides insight and value to the various Committees
- ORAP
- eGRC Review
- Risk Training
- Thematic Reviews
- Scenarios - 2017 Process
- Scenarios - 2018 developments
- Continue to develop relationships with BUs (currently undertaken via regular calls or one-to-ones)
- Develop further the approach to Risk Training in order to influence Risk training in the BUs and to ensure consistency in risk management awareness and approaches.
- Prepare and facilitate discussions with the BUs on operational risk matters on the Group Operational Risk Leadership Calls. Representing Operational Risk at ERAC, Risk ID GwOS Committees .
- Managing relationships with other Assurance functions via regular meetings and exchanges of information/ideas (ie Group Compliance, GwIA, Group Security and Group Governance).