Operational Risk Manager - Insurance experience essential
Our client is a global bank, who is achieving fantastic growth and success. Due to this growth they are searching for an Operational Risk Manager to join their highly skilled team in London.
- Group Insurance is made up of several teams including finance/risk/compliance as well as business development including CMB / Protection & Wealth. Group Insurance has approximately 80 members of staff working in London, on a hot-desking arrangement. Group Insurance is responsible for overseeing the various insurance businesses within the Group. It is a busy and fast paced environment, where colleagues are both friendly and supportive of each other.
Management of Risk
- The Operational Risk Manager will ensure the fair treatment of customers is at the heart of everything the bank does, both personally and as an organisation.
- The Operational Risk Manager will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
- This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.
- Also by addressing any areas of concern in conjunction with entity management and/or the appropriate department.
Observation of Internal Controls
- The Operational Risk Manager will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
- The Operational Risk Manager will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term 'compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.
- This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.
- Undergraduate or post-graduate degree in suitable field.
- Formal operations, finance or risk management qualifications are desirable.
- Knowledge and understanding of Insurance and the external business environment in which it operates.
- Strong awareness and understanding of banking internal control and operational risk framework as well as industry best practice for risk management techniques, processes, control standards and measures.
- Broad understanding of insurance regulations is desirable.
- Experience in the risk management is desirable, preferably within insurance.
- Previous risk reporting experience desirable.
- Understanding of enterprise wide risk management frameworks.
- Ability to prioritise conflicting demands and strong in problem solving capabilities.
- Capacity to form effective relationships and influence at all levels of an organization.
- Ability to articulate clear and persuasive recommendations.
- Strength of conviction to identify and raise issues and justify concerns to ensure appropriate action is taken.
- Proactive and resilient in a dynamic and constantly changing international environment.
- Role model and ambassador for Regulators, Insurance function and the wider Risk function.
- Takes personal accountability, is decisive, uses common sense and empowers others.
- Strong written and verbal communication skills. Must be able to work and influence senior levels of the Operorganisation.
- Risk and Issues Management
- Stakeholder Management
This is an excellent opportunity for an Operational Risk Manager to work for an industry leading, dynamic and forward thinking organization, offering excellent progression and development opportunities.
If you feel that you have the necessary skills and experience to succeed in the role of Operational Risk Manager then please apply now for immediate consideration.