Senior Manager, Operational Risk recruitment

Overview

The Clearing House needs to provide robust and prudent risk management in order to meet its overriding objective: to provide Clearing Members with a central counterparty of the highest quality and to safeguard the interests of the company's shareholders and contributors to its Clearing Funds.

The goal of the Risk Management department is to manage the risk appetite of the Company in a manner which:

Is prudent in risk management terms;
Is robust operationally;
Is consistent with its regulatory status and responsibilities;
Is in line with market best practice;
Supports the company's development initiatives in clearing new products and markets; and,
Is aligned with Board expectations and Member demand.

Responsibilities

Manage on day to day basis the Operational Risk and Permanent Control (ORPC) Frameworks in order to provide on a regular basis (quarterly)
• a reliable and up-to-date assessment:
i. of the operational risk profile
ii. of the effectiveness of the key controls
• the summary of the losses and near losses (including major incidents)
• the status of the actions contributing to risk reductions / control improvements

Ensure effective coordination and support to departments (Risk Owners and Correspondents) to guarantee a consistent implementation of the ORPC framework across the company

Analyse, in coordination with Risk Owners, the major projects / new products / new services impacts on the operational risk profile

Contribute to losses, near losses and major incidents analysis / impact on risks and controls

Verify to the Board that the operational risk tolerance (2nd level of control on Op Risk) is respected and managed through the risk acceptance process

Contribute to the ORPC function improvement by enhancing the existing component of the framework, developing new ORPC component and updating the ORPC documentation

Provide regular training and awareness sessions on ORPC

Request ORPC system reporting changes/improvements

Required skills and experience

- Strong practical experience in the operational environment in an international financial institution
(e.g. Risk Mgt / Operations / Control / Trading)
- Strong experience of operational risk - RCSA, Loss Incident Mgt, Scenario analysis, Risk Indicators
- Knowledge of Basel II / Basel III issues and requirements - Focus on operational risk latest evolutions
- Degree qualified/risk professional
- Quantitative background (mathematics/finance/economics)
- Specific knowledge of risk management techniques
- Strong conceptual and practical knowledge of operational risk management
- Experience of operational risk frameworks and systems
- Logical approach to addressing issues and problem solving
- Effective communication skills

Additional Information

LCH.Clearnet is the leading independent clearing house group, serving major international exchanges and platforms, as well as a range of OTC markets. It clears a broad range of asset classes including: securities, exchange traded derivatives, energy, freight, interbank interest rate swaps credit derivative swaps, and euro and sterling denominated bonds and repos; and works closely with market participants and exchanges to identify and develop clearing services for new asset classes. LCH.Clearnet Group Ltd is owned 83% by users and 17% by exchanges.