Operational Risk Controller
Operational Risk Control is mandated to focus on finding an optimal balance between risk and return and - by extension - to evaluate the firm's risk profile relative to an agreed upon risk appetite and in accordance with the firm's earnings capacity. More specifically, ORC's role includes:
- Independent oversight over risk taking activities and pro-active advice related to ensuring effective management of operational risks
- Analysis of risk identifiers and risk drivers to detect potential changes to the risk profile of the respective business line (risk drivers include internal and external loss events, upcoming changes to the regulatory environment as well as legal and tax regime, relevant geo-political changes).
- In depth reviews of businesses, events and key processes to assess the effectiveness of management processes and controls and their adequacy relative to the risk appetite.
Responsibilities
Independent oversight over risk taking activities:
- Participates in projects and initiatives to advise on operational risk matters, challenging assumptions made to ensure desirable balance between risk and return
- Provides advice related to new business proposals and changes to existing businesses and processes
- Advises the management team in the definition and implementation of policies, controls and key risk indicators
- Supports the management team with the definition of a risk appetite and verifies that the agreed risk appetite is in line with the division's overall risk appetite
- Verifies that management and control responsibilities are clearly assigned at various and appropriate levels
- Establishes and maintains business relationships with other control functions as well as subject matter experts
- Monitors available key risk identifiers to facilitate the pro-active identification of material risks or changes in risk exposure (control plan results, audit reports.
- Monitors the profitability of business lines
- Performs independent reviewsrisk assessments to identify potential or emerging material risks
- Conducts post-implementation reviews on newly implemented businesses or workflows
Requirements
- At least 5 years Professional experience (preferably in a WMIB control function) and knowledge of WMIB products and processes
- University degree required.
- ACA, CIMA or CFA beneficial
- An ability to successfully build relationships up and down an organization
- strong written and verbal communication skills including an ability to convey complex and technical issues to senior managers
- Strong analytical and problem solving skills
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