Operational Risk VP – Trading Face
This is a fantastic opportunity to work at a top tier investment bank in a dynamic global team. This team is run by the new Global Head of Operational Risk, who is a charismatic, punchy and influential Senior MD who reports to the Global CRO.
You will report in to the Regional Operational Risk Director, who reports in to the Global Head of Operational Risk, who is based in theLondonoffice. This Senior MD runs the Global ORM Committee, the Global New Products Committee. He sits on the Risk Committee, the Legal Executive Committee and is a permanent guest on the Global Operating Committee. He also has a number of other MDs from the business that have a direct reporting line in to him.
Having only recently just joined the company this new MD is highly focused on increasing the pro-activeness of Operational Risk and to reduce losses across the functions. All of the production has now been off-shored allowing for a greater focus on pure risk management. While this is technically a Group role, you will not be sitting in an ivory tower and you will be expected to form excellent relationships with the sales and trading business and all the functions that support this, such as Finance, Operations, and Legal, etc. This will be imperative so that you can challenge the businesses risk assessments and their loss data collation / event reporting in order to really obtain the root cause for these errors.
Responsibilities:
- Proactively assist in Operational Risk Strategy Development across the bank.
- Partner with various business heads/product lines/Front office staff and provide guidance and support on best Practice for Operational Risk.
- Play an active role in designing, establishing, maintaining and updating the operational risk framework, including:
- Prepare a Group Operational Risk strategy for submission to the Group Operational Risk Committee reflecting the Divisional operational risk strategies;
- Align the Divisional limits for consistency with Group Operational Risk Limits;
- Run the Group Operational Risk Committee.
- Scenario Development and Approval.
- AMA (Advanced Measurement Approach) support as appropriate.
- Provide KRI (Key Risk Indicators) Sensitivity and Validation Approvals.
- Self Assessment Validation and Sensitivity Approvals.
- Review, quarterly, the operational risk profile of individual Divisions.
Candidate requirements:
- Background in Product Control, Market Risk, Operations or Operational Risk.
- This role would suit someone who is keen to move away from a line control role in to a more varied position
- A broad experience and understanding of investment banking controls.
- Candidates from non-investment banking firms will also be considered.
- A forceful personality and the ability to keep asking the question until you are satisfied with the answer, or until the right point is actioned.
- Excellent communication skills and the ability to influence stakeholders such as senior traders and heads of functions.
- Career minded and passion to develop and learn.
This really is a unique opportunity in the market right now and anyone who is seeking to work under the supervision of a leading senior risk figure would massively benefit from working in a role like this.
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