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Operational Risk and Risk Control Manager

Employer
Zenith Bank Limited.
Location
UK
Salary
Competitive
Closing date
23 Jul 2022

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Sector
Accountancy
Contract Type
Permanent
Hours
Full Time
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About Us:

Zenith Bank (UK) Limited (ZUK) is a subsidiary of Zenith Bank PLC, one of the top banks in Nigeria. The bank was set up with a clear strategy to leverage trade and investment flows between Nigeria and Europe, by providing intermediary banking services and facilities for trade-related working capital and capital expenditure.

Zenith Bank recognizes the importance of leveraging a highly skilled workforce to achieve its strategic and operational goals. The bank is committed to providing an environment that is conducive for effective performance by availing all staff the necessary learning opportunity. We value the well-being of our staff and we encourage them to strike a balance between their work and personal lives, thereby creating a healthy atmosphere for personal development and career success.

With the introduction of new services here in the UK and our unparalleled knowledge of business with Africa, our 5 year strategy ensures "Controlled Growth" as we aim to become the Bank of choice for businesses wishing to transact in the African continent.

Responsibilities:

The operational risk function is required to lead and promote a positive culture of learning and continuous improvement by promoting "Do it once, Do it right" across the Bank. The aim being to drive the bank towards operational excellence, appropriate innovation and efficiency. All of the activities within Operational Risk need to be fulfilled with this broad objective in mind.

More specifically, Operational Risk fulfils the identification, monitoring, escalation and remediation of Operational Risk items at Zenith Bank (UK).

This senior role incorporates wider responsibilities including contributions to selected executive committees. The role holder is expected to be a thought leader and proactive operator solving problems and driving improvements across their domain. A self-starter who needs little direction and holds both the gravitas and thoughtful engagement to promote collaboration and collective solutions.

Regulatory Responsibilities:
  • To exercise the Certified Regime 'Significant management function' in accordance with the FCA and PRA's Certification Regime requirements - ensuring compliance with the Conduct Rules set out below.


Risk Control Responsibilities:
  • Support the CRO in building and developing a positive risk management culture across the Bank, working with employees continuously to ensure risk awareness is embedded and robustly understood.
  • Provide cover for and assist in other Risk analytical and project work and ad-hoc duties assigned by the Chief Risk Officer including providing cover for CRO absences from time to time.
  • Ensure all EUC controls and processes are fully documented, appropriately controlled, backed up and verified.
  • Lead the production of ICAAP, ILAAP, Pillar 3, RAS, Recovery Plan and Resolution Pack in close coordination with the CRO.


Operational Risk
  • Lead the implementation of regular events and operational risk workshops including strong early engagement with new recruits on operational risk to set the tone for expected operational risk management behaviours across the Bank.
  • As the second line of defence develop the banks operational risk management capability to investigate root causes and promote prompt, effective and lasting solutions.
  • Lead the oversight and challenge of the banks operational risk registers, KRIs and risk events to ensure operational risks are identified, assessed and mitigated.
  • Assist 1st line of defence in improving control environment as part of operational risk management.
  • Ensure reporting is effective and robust, data is accuracy, breaches are promptly identified, escalated in a timely and effective way and appropriate early warning tools are enabled.


Risk Identification
  • Drive the Risk Control Self-Assessment (RCSA) process, Risk Event process, Key Risk Indicators and the High Level Risk Register, maintaining reports within the Bank's Operational Risk system of issues and actions; tracking actions to completion and challenging the business on the information captured to ensure matters are clear and easily interpreted.
  • Working with colleagues across the bank in co-ordinated and consistent approach to both the application of the operational risk discipline and resolution of operational risk issues.
  • Ensure that the Operational Risk framework is kept up to date with Risk Registers, KRI's and Risk Events.


Monitoring
  • Provide relevant and accurate MI on the operational risks in the business units.
  • Maintain and update the Risk Department's internal Procedures and Policies, in conjunction with the Senior Assistant Manager and the Manager.
  • Enhancement and automation of risk reports and tools with Excel functions and VBA where appropriate.


Escalation
  • Assist with the gathering and analysis of KRI management information to identify areas of risk in ZBUKs business activities, working with the business to ensure that appropriate action is taken.
  • To assist in providing reports for EXCO, Board Risk Committee and the Board.


Additional responsibilities
  • Keeping up to date with industry best practice and regulatory developments where this affects the risk management of the organisation, particularly with respect to operational risk.
  • Develop identification and monitoring on all aspects of Operational Risk including - Cyber, IT Security, Compliance, Financial Crime & Conduct Risk
  • To assist with other analytical and project work and ad hoc duties assigned to them
  • Manage and prioritize own workload.


Skills Required:·
  • Strong knowledge of and experience in a range of risk management disciplines and internal controls.
  • Familiarity with key regulatory submissions including ILAAP, ICAAP, Pillar 3, RAS, Recovery Plan and Resolution Pack.
  • Attention to detail - to pick up on errors and produce accurate work
  • Driven, ambitious, self-starter who can grasp a concept quickly and deliver a reasoned investigation and analysis.
  • Grasp of the reasons for a strong control environment and operates with this mentality
  • Experience of, or significant exposure to, working in a Trade Finance environment
  • Knowledge of Regulatory practices within Finance desirable
  • Personable and approachable to all levels of employees
  • Knowledge of Basel II, Basel III, Risk and Capital requirements
  • Good understanding of the principles of risk management and risk management techniques
  • Understanding of the use and risks associated with Interest Rate Futures, Foreign Exchange, Interest Rate Swaps, Bonds and CDs, Wholesale Money Market and Trade Finance Products.


Software Knowledge required / desired:
  • Microsoft Office package MS Excel Advanced (Essential) VBA (Desired)
  • MS Word and MS Outlook

Specific knowledge desirable/not necessarily required:
  • IT framework and Cyber risk knowledge
  • Temenos (T24), Calypso, Eurobase-Siena, aCCelerate
  • Accounting knowledge


This is a permanent position paying up to £75,000 based on experience
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