Operational Risk & Control Middle Office recruitment

Global Markets Middle Office delivers control functions and is responsible for providing assurance over data and processes used to record risk, P/L, balance sheet and financial results in support of Global Markets, Corporate Treasury and Corporate Investments businesses. Within this, the Global Middle Office Operational Risk Control team (which is also aligned to the Global Operations Risk and Control group) is responsible for:

•         Providing quality assurance around Middle Office key control processes

•         Providing an independent assessment of control and risk issues for senior management

•         Working with Middle Office line management to strengthen the control environment and improve control processes

•         Embedding a risk awareness culture across the Global Markets Operations

•         Providing an oversight responsibility across regulatory processes within Middle Office

The group is required to deliver higher quality, detailed and analytical, objective assessments of operational events that occur across the Middle Office globally, to determine what went wrong, what has/is being done about it and have the discipline to follow up to ensure that the remediation did indeed happen. All packaged formally in a consistent and cohesive way that is readily presentable to senior stakeholders. The group also conducts preventative analysis using data points we have access to but (due to resource constraints) are underutilised (eg the PCS repository, training and education). There are also reporting requirements from the group (both internally and externally facing).

Responsibilities  Reactive

• Analyse ops losses as and when they happen, facilitating the full and objective control gap assessment in collaboration with the LoBs who have experienced the Operational Event.

• Structured documentation on findings and route cause analysis, to a very detailed extent

• Development and tracking of control gap remediation plans

• On-going testing and validation of remediation works post-implementation

• Stakeholder engagement across all levels of seniority and high quality presentation of issues and next steps

Proactive

• Development of a framework for the efficient management and reporting of Ops Losses and Self Identified Issues

• Data mining on existing sources of control metrics (e.g. Process Control Standards) to interpret and evaluate the Middle Office’s control performance against best practice

• Improving our outward reporting and engagement across the MO

• Standardising our brand in the deliverables we produce

• Establish and maintain robust relationships with key stakeholders across all functional support groups

• Taking a leadership position to identify new ways of evolving our groups ORC offering by performing VoC and or proactively implementing new ideas within the group.

SkillsEssential (demonstrable evidence will be sought in interviews)

Prior experience at a minimum within a Middle Office in a like-for-like Financial  

•         Institution

•         Knowledgeable in Global Markets products or support functions – a detailed understanding of the end to end trade lifecycle

•         Experience of at least one of the core asset classes (Credit, Rates, Equities, Commodities)

•         Exemplary control awareness of trading, trade support, PL production practices and Financial Control

•         Analytical and objective problem solver. Able to understand / learn complicated concepts and apply objective analysis to determine route cause and put forward recommendations for remediation

•         Multi-tasking skills and effective prioritisation with communication of rationale to interested (and sometimes conflicting) parties

•         Excellent people /stakeholder management skills at all levels of seniority.

•         Communication - Ability to deal and communicate at all levels within the organisation. Advanced written, verbal and presentational skills. Ability to discuss and defend risk-based conclusions or recommendations with senior management and or product line SMEs. Able to tune in to the way a particular discussion is unfolding and able to choose when to take discussion off-line rather than being oblivious to the sensitivities / complexities of the discussion

•         Ability to engage with and influence cross functional groups and navigate complex political landscapes and to facilitate changes to control environment e.g. through review of incidents and losses.  Ability to challenge in a firm yet constructive and non- confrontational manner

•         Proactive, self-starter - ability to establish relationships quickly, based on credibility, delivery and the eagerness to help

•         Flexible approach to scope of role - enthusiasm to take on new and different tasks in dynamic environment

•         Must be hands-on – this is not a high level generalist role

•         Intellectual curiosity, always able to challenge the status quo and use fact-based argument there in

•         Highly professional presentation skills (verbal and written). Objective and level headed in approach

•         High proficiency in PowerPoint, Word and Excel

•         Detail oriented, demonstrating a high degree of accuracy

•         Perseverance to manage issues through to fruition with minimal supervision

•         Personal Effectiveness

o        Energy Drive - Takes personal ownership for delivering superior services to clients. Demonstrates personal commitment to and excitement about the work we do. Sets high performance expectations for people. Has an implicit sense of urgency in one’s self and creates a sense of urgency in others.

o        Decisiveness - Acts decisively even when faced with ambiguous or crisis conditions. Acts quickly in getting things done. Continuously measures organisation performances and takes corrective action. Knows when to seek help and or escalate

Courage - Demonstrates courage to express and defend unpopular decisions. Maintains a constructive positive outlook even when plans are thwarted.

o        Character - Holds himself/herself to the same high standards of integrity that he/she demands of the organisation. Acts as a role model for the kind of behaviour he/she expects from others. Conveys high personal standards informally e.g. in conversation and demeanour. Behaves in a way that leads others to trust him/her.

Preferred

•         Experience of one or more support functions within a  (such as Operations, Finance, Front Office Business Management)

•         Regulatory environment – understanding of the regulatory environment as it applies to operations and specifically for transaction reporting and client money