Head of Group Wide Risk
Overview of Role
The Head of Group Wide Risk, will be responsible for enhancing the strategic framework for the risk organization to ensure that enterprise wide risks are appropriately identified, analyzed and reported to the Executive and Board level audiences. Additionally, the role involves providing expertise and oversight of the various group wide and group level initiatives required by the Board, Executive, industry or Regulatory needs working in conjunction with the Business Heads of Risk and functional risk teams globally. The Head of Group Wide Risk, will additionally be responsible for providing analytical support and greater industry knowledge to the Risk Management team more widely.
The role comes about through the evolution of the Risk Management department in recent months with the notable successes requiring greater engagement and analysis of the Groups activities in a changing environment.
Principal Responsibilities Accountabilities
- Execute the global enterprise risk management strategy under the supervision of the Global Head of Risk, improve and embed risk thinking in all the management processes of the firm and broaden the understanding of material risks the Group faces in a dynamic market and Regulatory landscape
- Coordination of analysis around the impact of Regulatory change on Group. This will work in conjunction with the Regulatory change team in the business both within Risk and more widely in the Group
- Central analytical capability including Groups strategy support, risk appetite framework and design, stress testing, scenario analysis and reverse stress testing, capital modeling and associated risk-return metrics
- ICAAP improvements to design and oversight with implementation in conjunction with Risk COO and Risk advisory and Infrastructure teams
- Implementation of industry best practices through the Risk advisory team
- Work with the global head of risk and the other regional heads of risk to develop and communicate new methodologies, metrics and processes in order to constantly improve the risk framework of the firm
- Executive and Board papers and presentations
- Help the Global Head of Risk provide key deliverables to improve overall risk management
- Assist in managing and developing the Risk team skills more widely to ensure sustainability and quality of the service
- Ad hoc projects as required
Responsibilities include:
- Communicate with and challenge regional executives, businesses, auditors, regulators and Group Risk in order to influence business direction and decision making in relation to the firm’s risk appetite and strategy.
- Ensure that the risk processes are robust, including working with the functional Heads of risk and Business Risk Heads
- Ensure that the key exposures of the firms are appropriately identified and modeled more widely than simply direct credit, market or liquidity risk i.e. strategy, legal, regulatory, financial, competition, client etc
- Actively participate and provide leadership in the challenge and review processes for the key governance bodies of the region (Board Risk Committees, Group Risk and Capital Committee, Business risk committee, new product committees,other)
- Enhance the control processes around the oversight of our credit relationships, liquidity risks and market exposures. Note : The business does not extend credit nor take conscious market risks, however has to both review the counterparty exposure to open transactions and the potential risks from counterparty failure on liquidity and hence inherited possible market exposure.
- Understand the Regulatory arena and the impact of upstream Regulatory risks on the business lines, both current and prospective
- Develop strong working relationships across the Risk, Control and Business lines to ensure alignment of priorities and foster collaboration
- Develop talent within the risk team and manage to high performance standards
- Work with the global head of risk and the other regional heads of risk to develop and communicate new methodologies, metrics and processes in order to constantly improve the risk framework of the firm
Competencies
- Excellent leadership skills to manage a small team of risk specialists and work with the broader Risk Management department including;
- Lead and motivate staff, ensuring they focus on the highest value activities across the firm and to ensure that the optimum structure and team are in place
- Provide clear direction and education on market practices and standards
- Excellent oral and written communication skills to be able to build both strong internal and external relationships.
- Communicate to senior management across a range of business areas to influence business direction and decision making including Executive and Board members through articulate reports, presentations and dialog
- Ability to influence across the organization and in a matrix management environment, understanding the motivation of various stakeholders and gaining support across the organization
- Create strategic objectives for risk management including short and medium term priorities, linking business objectives to Group and risk’s broader strategic goals
- Good sense of judgment to challenge commercial decisions where needed
- Act as a change agent in the business
- Able to adapt quickly to a new environment and can rapidly steer team towards determined objectives and goals
- Sound risk management knowledge of Financial Institutions/Brokers including credit, market, operational, liquidity risks and capital planning in both business as usual and non normal conditions
- Sound knowledge of financial products and markets
- Good knowledge of stress testing and scenario analysis techniques
- Good and current knowledge of Regulatory landscape
- Good understanding of risk models and measures.
- Ability to multi-task and work under pressure as part of a team.
- Ability to work in a collaborative manner
- Ability to see the “whole picture” and recognize the impact of activities across the organization
- Strong skills in analysis, data gathering, interpretation and application
- Strong project planning and prioritization ability
- Strong business process management skills
- Experience of working successfully in different cultures in a sensitive manner in order to create strong relationships with senior leadership
- Juggle priorities, multi task and execute at speed
- Strong understanding of the business and ability to relate to traders and business managers
- Clear strategic thinker
- Budgetary and resource management
Professional/Technical Skills
- Decision-making skills including the ability to evaluate/review trade-offs.
- Must possess the technical know-how, business awareness and analytical skills coupled with an understanding of risk/reward dynamics and how they interact to generate sustainable profitable growth
- Ability to maintain a high level perspective, while at the same time focus on the detail
- Ability to manage and influence across multiple geographies
- Ability to work in a fast-paced and complex environment with tremendous breadth and reach.
- Operate under impeccable ethical standards and integrity
Qualifications Experience
- Bachelor’s degree with a specialization in Business, Mathematics, Finance and or Economics; MBA preferred
- Minimum 8-10 years of experience within the wholesale Risk Management and / or business consulting sector
- Proven record of numerical analysis and wide ranging thinker
- Proven record of achievement in leading an enterprise-wide risk management discipline
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