Operational Risk and Controls and Audit
Core Activity
- Development of the firm's key process maps. Act as the lead on the process mapping and control testing of IT processes and applications.
- Identify, assess , analyse and report on the design and operating effectiveness of the principal controls utilised to mitigate key operational risks
- Create and update narratives, flowcharts, performing walkthroughs and testing throughout the year.
- Perform the analysis and review of key control procedures, risk and control matrices, and test plans.
- Prepare MI for management committees and the Board to highlight key risk and controls issues
- Periodic and timely notification to process owners to update narratives; follow-up with process owners and escalate any issues to the Head of Controls/ Head of Operational Risk and Control
- Update the Summary of Deficiencies log report, document action plans and assist process owners on ways to improve their processes.
- Assist with the completion of the relevant Risk Mitigation Program (RMP) points.
- Contribute to the Risk Control Self Assessment (RCSA) process by providing relevant inputs such as control testing outputs, process deficiencies, etc.
- Maintain relationships with the key stakeholders and understand the material operational risks, risk events and Key Indicators with regards to individual functions.
- Contribute to the continuous embedding and improvement of the Operational Risk and Control Framework.
- Acting as an Independent advisor, advise management on risks, processes and controls related to IT processes and applications.
- Work on special operational risk or control-related projects as directed by the Head of Operational Risk and Control/ Head of Controls
- Keep up-to-date with the FCA regulations.
Key contacts/working relationships
- Report to the Head of Operational Risk and Control
- Build good working relationships with process owners and management, communicate effectively and timely and be able to multi task when required.
- Work with outside consultants when necessary on all aspects of the control re-engineering and implementation process and provide additional assistance where needed.
Key outputs and key performance indicators
- Timely completion of assigned tasks.
- Build and maintain positive working relationship with management and the Operational Risk and Controls Department.
- Positive contribution to the Operational Risk and Controls Department.
Skills / experience required:
- 3+ years of business experience, within internal/external audit, controls or operational risk, with some process mapping and control design experience.
- Strong experience of working within the 2nd line (risk management) or 3rd line (audit) functions
- Excellent communication skills and ability to present to Senior Management/key stakeholders
- Strong IT Application Controls and testing experience.
- Broad understanding of Operational Risk Framework and Internal Controls.
- Relevant experience within a reputable financial services firm.
- Relevant Audit qualification (such as CISA/ CISSP/ ACA/ ACCA) preferred
- Willing to learn and ability to apply knowledge in a commercial environment.
Systems used:
- Excellent PC skills including Word, Excel, Visio, Access and PowerPoint.
Personal attributes:
- Good organisational and time management skills.
- Self motivated and capable of working both independently and as part of a team.
- Willing to share ideas or views to create an open and honest team environment.
- Excellent interpersonal and communication skills, both oral and written.
- Ability to interact professionally with people at various levels of an organisation.
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