Head of Risk Oversight

Head of Risk Oversight

Shift Pattern:

Standard 40 Hour Week (United Kingdom)

Scheduled Weekly Hours:

40

Corporate Grade:

B - Senior Vice President

Reporting Line:

(UK Division) Risk - 2nd Line

Location:

UK-London

Worker Type:

Permanent

Overall Purpose of Role

The Head of Risk Oversight is a senior leadership role within Group Risk Management, reporting to the Chief Risk Officer, LMEC, with a matrix reporting line to the Chief Risk Officer, LME. The role supports the CROs by managing the Group Risk Management team day to day, driving delivery of the CROs risk management strategy, improving the quality and consistency of second-line oversight, and providing continuity of support across LMEC and LME.

The role is responsible for turning agreed priorities into practical delivery plans, clear team accountabilities and measurable improvements in the way risk oversight, resilience, governance, reporting and management information operate across LME and LME Clear.

The role will ensure that Group Risk Management operates as an effective second line of defence, providing consistent standards, credible challenge, timely escalation and decision-useful risk insight to senior management, Board committees and regulators. It will place particular emphasis on enterprise-wide risk oversight, non-financial risk, operational resilience, technology risk and change risk.

The Head of Risk Oversight will support the LMEC and LME Chief Risk Officers as required in governance forums. The role provides continuity, execution discipline and senior support to the CROs so that the function remains focused on agreed priorities and measurable improvement. This role will deputise for the respective CRO’s when required in key governance forums.

Responsibilities

Functional Leadership and Delivery

• Support the CROs by managing the Group Risk Management team day to day and ensuring activity is focused on agreed priorities.

• Translate the CRO strategy into clear plans, delivery milestones, team accountabilities and measurable outcomes, ensuring progress is tracked and delivery issues are escalated early.

• Lead team planning, prioritisation, workflow management and quality control, ensuring outputs are clear, consistent, accurate and suitable for senior management, Board and regulatory scrutiny.

• Support team development, resource planning and capability uplift, including recruitment, performance input, coaching and the development of stronger second-line judgement and challenge capability.

Risk Standards, Appetite and Oversight

• Own and maintain risk oversight standards, risk appetite, risk taxonomy and associated risk policies, ensuring they remain fit for purpose and aligned to regulatory expectations.
• Lead the review and approval cycle for risk standards, policies and appetite statements, coordinating input from the LMEC and LME Chief Risk Officers, Group Risk Management, senior stakeholders and first-line functions.
• Drive consistent application of risk appetite, risk standards and escalation expectations across LME and LME Clear, including the use of clear tolerances, escalation triggers, KRIs and risk-based decision-making.

Risk Reporting, MI and Insight

• Own the production and continuous improvement of risk reporting for senior management, executive committees, Board committees and regulators, ensuring outputs are clear, accurate, timely and action-oriented.
• Lead the development of risk MI, dashboards and risk intelligence to provide forward-looking insight on the Group’s risk profile, emerging risks, control issues and risk appetite performance.
• Ensure material risk issues are escalated promptly to the CROs and relevant senior stakeholders, with clear analysis of impact, ownership, response and decision requirements.

Risk Governance and Committee Effectiveness

• Maintain and improve the design and operation of risk governance arrangements, including committee structures, terms of reference, agendas, decision records, action tracking and escalation routes.
• Ensure CROs and senior stakeholders are effectively briefed ahead of key governance forums and that outputs meet the required standard for senior management, Board and regulatory scrutiny.
• Strengthen the quality and consistency of risk governance artefacts, including papers, minutes, actions, decisions and follow-up reporting.

Second Line Challenge and Business Engagement

• Provide guidance, support and effective second-line challenge to first-line business and support functions on the identification, assessment, management and escalation of material risks, with particular focus on non-financial, resilience, technology and change risk.
• Work with the first line and senior stakeholders to ensure risk management practices are applied consistently and that ownership of risk and controls is embedded effectively.
• Support change risk management and major programme oversight by ensuring material risks, dependencies, controls and delivery issues are identified, assessed and escalated appropriately.
• Strengthen oversight of operational resilience, technology risk and cross-entity dependencies, ensuring weaknesses are visible, owned and addressed through clear management actions.

Regulatory, Board and Senior Stakeholder Support

• Advise and support the CROs, senior management and Board committees on risk oversight, resilience, risk appetite and material risk matters across LME and LME Clear.
• Support regulatory engagement on risk management matters, ensuring responses are well evidenced, consistent and aligned to the Group’s risk framework and governance arrangements.
• Represent the CRO perspective in senior forums, Board committee preparation and regulatory meetings as required, providing continuity of leadership and risk management oversight.

Academic and Professional Qualifications Required

• Educated to degree level.

Required Knowledge and Level of Experience

• Background in financial markets, with experience in risk oversight, non-financial risk, operational resilience, technology risk, governance or change risk.
• Experience in leading risk management teams.
• Experience at an exchange group or financial market infrastructure is desirable.
• Experience of operating in a second line of defence role.
• Experience of financial services regulation and engagement with regulatory bodies.
• Financial risk experience is beneficial but not essential; experience in technology risk, operational resilience, non-financial risk oversight or risk governance would be advantageous.
• Professional training or qualification in risk is desirable.

Skills set and Core Competencies Required for Role

• Strong ability to engage with all departments throughout the business to understand their key processes and risks.
• Strong ability to engage with colleagues and maintain a culture of openness and transparency.
• Ability to engage with senior management and the Board, articulating complex issues clearly and supporting effective decision-making.
• Ability to manage regulatory engagement professionally and credibly.
• Strong communication skills, both written and verbal.

The LME is committed to creating a diverse environment and is proud to be an equal opportunity employer. In recruiting for our teams, we welcome the unique contributions that you can bring in terms of education, ethnicity, race, sex, gender identity, expression & reassignment, nation of origin, age, languages spoken, colour, religion, disability, sexual orientation and beliefs. In doing so, we want every LME employee to feel our commitment to showing respect for all and encouraging open collaboration and communication.