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Operational Risk Analyst

Lloyd Recruitment Services Ltd
Closing date
31 Jan 2022

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Contract Type
Full Time
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Operational Risk Analyst

** Salary: £40-60K ** Permanent opportunity **

A brilliant opportunity has arisen, in an expanding, London based organisation, as they are recruiting an Operational Risk Analyst.

Operational risk analysts are responsible for carrying out review and evaluating new processes or revised processes to ensure the appropriate risk management oversight and infrastructure exist to measure, monitor, and control such risks.

  • Enhance and review Operational Risk Management related policies, manuals, and procedures.
  • Offer input into development of processes, models, tools and systems required for the implementation of Operational Risk Management ("ORM") policies, to meet UK regulatory expectations and banking practice.
  • Develop Operational Risk Appetite KRIs and responsible for monitoring and reporting of related MI.
  • Coordinate with departments for conducting Root Cause Analysis for KRIs breaching thresholds and implementation of Action Plan within the defined timeline.
  • Collate Operational Risk Incidents for analysis, monitoring and reporting to senior management and various committees, covering both UK subsidiary and wholesale branch.
  • Conduct Root Cause Analyses ("RCA") on identified risk incidents and recommend and monitor Corrective Action Plan ("CAP").
  • Maintain Operational Risk Incident Register and update the register in a timely and accurate manner.
  • Work with Head - Operational Risk with planning and schedule Risk and Control Self-Assessment ("RCSA") program in the Bank.
  • As part of RCSA program, conduct risk and control assessment of all existing activities of the Bank including outsourcing activities to analyse inherent risk, residual risk and control effectiveness in the activities.
  • Conduct RCSA of new / modification in activities, before their launch / go-live into business operations, including the annual review process.
  • Provide input to Head - Operational Risk for conducting Scenario analysis and stress testing for Operational Risk and assist with the same.
  • Be the main point of contact for the Risk team for coordinating all the operational risk management related activities of the Bank with all the departments and functions.
  • Monitor development in the industry best practices for the management of operational risks, their analysis and suggestion to senior management and relevant committees for their implementation.
  • Preparation of Operational Risk section of Risk Management Committee ("RMC") Pack, convening of RMC for Subsidiary & wholesale branch, preparation and circulation of minutes in a timely, effectively and accurate manner.
  • Assist CRO with preparation of Risk Management pack, notes for the senior management and board committees.
  • Submission of any other reports of UK subsidiary and Wholesale branch required by Head Office and UK regulator.
  • Support Head - Operational Risk with calculation of Operational Risk Capital and coordination with Regulatory Reporting team.
  • Provide input w.r.t. Operational Risk for Internal Capital Adequacy Assessment Process ("ICAAP") exercise.
  • Assist CRO with preparation of PRA / FCA communication on Operational Risk related matters.
  • Support all business units/ functions/ departments on areas where they need clarification or to understand better in order to comply with ORM framework.
  • Support Head - Operational Risk with ORM sensitisation / training program across the Bank for development and maintenance of Operational Risk Management culture.
  • Support and coordinate with auditors in their audit / review process for the effective implementation of ORM policy and procedures.

  • Minimum undergraduate level
  • Strong skills in Microsoft Excel, Word, Outlook and PowerPoint
  • Minimum 3 years Operational Risk or related experience in a UK banking environment
  • Technical knowledge of Operational Risk Management principles and procedures.
  • Experience of Operational Risk reporting ideal but not essential.
  • Understanding and working prior experience of Operational Risk techniques such as incident management processes, root cause analysis, risk and control assessment.

NB: Lloyd Recruitment Services would like to thank you for taking the time to apply to this vacancy. However, unfortunately due to a high number of applications, we are only able to respond to shortlisted applicants. If you have not heard from us within seven days, please assume that you have not be shortlisted on this occasion. However please do join our Facebook community, to be the first to see our new positions.
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