Operational Risk Analyst

Role Overview

The Operational Risk Analyst supports the Operational Risk department, in the Bank’s 2nd Line of Defence activities in relation to the management of operational risk across all entities of the IB group.

This includes:

· Assisting the team with the implementation of the Operational Risk Management framework;

· Supporting 1st Line of Defence;

· Recording of risks in existing and new business and products and associated Action plans;

· Raise awareness and promote positive risk culture with all stakeholders.

The ideal candidate will have experience in risk and control and an understanding of a positive risk culture. They should have an interest in understanding the ‘big picture” of the markets ABC is in and the overall trends. There will be a focus on accurate capture of operational risks, and improvements of the control environment, and resolution of issues/actions.

What You Will Be Doing

1. Operational Risk Management

· Support the implementation of the group-wide framework.

· Organization and facilitation of risk management workshops (e.g., RCSA workshops, etc.)

· Coordination and facilitation of the implementation of the various risk management policies and procedures

· Identification of operational risks and the definition of appropriate controls

· Development of action plans to mitigate risks, challenge and test the effectiveness of controls.

· Analysis of risk data such as loss events and other incidents and Key Risk Indicators

· Investigation of risk events and incidents

· Provide day-to-day direction, guidance, training and support to the 1st Line of Defence for operational risk.

2. Quality Control

· Quality control of Operational Risk Management projects

· Ensure capture of Operational Risk Events and Actions are accurately reflected.

3. Change Management

· Participate in the development of new products, business initiatives, and change management projects to ensure risks are captured

4. Cooperation with risk and control functions

· Cooperation with risk and control functions across the unit/group

5. Operational Risk Reporting

· Prepare actionable (consolidated) risk reports for both internal and external stakeholders.

· Prepare Operational Risk Management reporting to the local/group senior management and relevant governance committees

· Reporting on the progress against the approved operational risk management planning

6. Development of operational risk policies and procedures

· Participate in the development of best practices for operational risk management at the group and unit level to ensure that ABC group’s risk management processes are aligned to regulations and industry practices

· Acting as sounding board for new risk management initiatives

7. Raise Awareness for Operational Risk Training

· Conduct training and provide guidance to staff on all aspects of operational risk management.

· Disseminate – and explain – policies and procedures for operational risk management

8. Other

· Carry out “ad hoc” tasks as directed by the Head of Operational Risk

· Provide oversight on the application of the Operational Risk Framework by the 1st Line of Defence

· Assist the business areas with the documentation of operational risk events, with root cause analysis

· Co-ordinate production of Operational Risk Key Risk Indicator data, review and challenge the business

· Review and monitor actions undertaken by the 1st Line of Defence in respect of operational risks and events

· Participate in the preparation of the annual Operational Risk ICAAP as directed by the Head of Operational Risk

· Participate in the annual review of the Operational risk register

· Identify potential areas of operational risk and control weaknesses in the business, propose remedial actions

· Support the Head of Operational Risk in the production of Operational Risk Committee materials

· Attend the Operational Risk Committee and other Committees when requested

· Support the Head of Operational Risk in collation, analysis and reporting of operational risk data

· Participate in testing of the effectiveness of controls

· Build effective relationships with stakeholders

What You Will Bring

Education / Certifications

· Professional qualification in risk management desirable, but not essential

· Evidence of professional development.

Experience

· 2- 5 years experience within financial services sector

· Building and raising awareness of issues and influencing the direction and actions

· Risk experience advantageous

Personal Attributes

· Excellent communication skills both written and verbal

· Ability to influence and drive through an agenda of change, and articulate the benefits to a varied audience

· Strong presentation skills, with the ability to effectively relate theory with practical application of concepts

· Able to interpret and analyse multiple sources of data and provide clear and coherent summary reports

· Confident in the disciplines for delivering change and process management across the organisation

· Ability to learn and adopt new practices and techniques

· Manage a number of complex workflows and respond to urgent requests

· Capable of building constructive working relationships, provide challenge and influence people at all levels of seniority