Principal Risk Officer, Operational Risk, London, United Kingdom

European Bank for Reconstruction and Development (EBRD)

EBRD London

Requisition ID

32804

Office Country

United Kingdom

Office City

London

Division

Risk Management

Contract Type

Regular

Contract Length

Posting End Date

25/11/2022

Purpose of Job

Exciting opportunity for a Principal position in a developing OpRisk team at EBRD. The team has the objective of implementing an approved transformation plan to fully embed op risk into the organisation. Fully staffed the OpRisk team will be six dedicated to this task. The purpose of this role is to develop, establish, implement, maintain and enhance a framework consisting of a network of processes, procedures, reports and responsibilities that are used to monitor and manage the operational risks of the Bank. These include governance, day-to-day management practices such as the collection and analysis of key risks, control issues and incident data. The role acts as a second line of defence providing independent oversight of the risks identified and managed by the business and includes challenging the business areas in their assessment and monitoring of their risks, control effectiveness and action plans.

Active, robust operational risk management is a business necessity and is regarded as being a core competence by stakeholders, rating agencies, clients, counterparties and other interested parties.

Accountabilities & Responsibilities

Principal Risk Officer will work under the supervision of the Associate Director and /or Director, with varying levels of supervision depending on experience and relevant task. They are expected to demonstrate considerable ability to work un-supervised and exercise their own decision making ability, escalating as necessary.. To continuously engage with the business in reviewing and challenging Oprisk information, with escalation of issues, via Associate Director, Operational Risk Management, to the Risk Committee. This can be broken down to the following key responsibilities:

  • Independently advise and educate colleagues across the Bank with regards to their roles and responsibilities as per the operational risk policy and framework requirements. Ensuring businesses adequately and appropriately identify, manage, mitigate, report and escalate per requirements
  • Responsible for the implementation of certain aspects of the operational risk plan across selected departments, supporting MDs on improving risk culture and the management of their operational risks, including challenging outputs and actions.
  • Partner with business areas to represent the views of ORM at internal committees and working groups to share opinions and influence decisions based on sound OpRisk Management knowledge and processes.
  • Review and make autonomous decisions and report on analysis of incidents, issues and business indicators / metrics for key control monitoring and take action as necessary where any business appears to be operating, or to be at risk of operating, outside the established risk appetite.
  • Perform deep dive root cause analysis of material issues and incidents or support the business own investigation, coaching to ensure appropriate analysis and challenge as needed.
  • Proactively identify OpRisk knowledge gaps across the Bank and design and supervise the delivery of effective training to address these gaps.
  • Supervise and quality-assure the drafting of key ORM guidelines, procedural documents and intranet information pages to ensure that there is no inconsistency in message or outcome.
  • Contribute to developing the OpRisk Management System in order to drive product development ensuring the system meets current and future EBRD OpRisk Management requirements.
  • Develop, implement and maintain management information reporting to allow senior business leaders to make more informed business decisions.
  • Develop external relationships of similar and of regulated organisations to keep abreast of good practice.
  • Conduct other activity as requested by the Director ORM.

Knowledge, Skills, Experience & Qualifications

  • Degree level or equivalent and qualification in a risk related discipline (including Accountancy, Risk Management, CFA) useful.

  • Experience of working in Risk Management with a significant number of years in operational risk or control functions within a financial services organisation.
  • Banking product knowledge and Development bank experience will be advantageous.
  • Knowledge of Operational Risk Management Frameworks and systems.
  • Strong drive and self-starting mentality, able to manage a number of varied and complex tasks, resilient attitude towards conflicting priorities and challenges, getting things done quickly and to a high standard (as befits the very senior stakeholders involved.
  • Expertise in translating risk and control information / issues into simple messages and then into professional documents for onwards consumption.
  • Demonstrable skills in picking up the unfamiliar
  • A strong team player, who works collaboratively with others, but able to take ownership where required.
  • Strong analytical skills.
  • Strong relationship management skills and the confidence and ability to challenge business leaders in their risk mitigation measures.
  • Excellent oral and written communication skills, confident presenter
  • Demonstrate Strong skills in planning, organising, presentation and collaboration.
  • Among peers be an agent of operational risk culture dissemination across the Bank.

What is it like to work at the EBRD?

Our agile and innovative approach is what makes life at the EBRD a unique experience! You will be part of a pioneering and diverse international organisation, and use your talents to make a real difference to people’s lives and help shape the future of the regions we invest in.

The EBRD environment provides you with:

  • Varied, stimulating and engaging work that gives you an opportunity to interact with a wide range of experts in the financial, political, public and private sectors across the regions we invest in;
  • A working culture that embraces inclusion and celebrates diversity;
  • An environment that places sustainability, equality and digital transformation at the heart of what we do.

Diversity is one of the Bank’s core values which are at the heart of everything it does. A diverse workforce with the right knowledge and skills enables connection with our clients, brings pioneering ideas, energy and innovation. The EBRD staff is characterised by its rich diversity of nationalities, cultures and opinions and we aim to sustain and build on this strength. As such, the EBRD seeks to ensure that everyone is treated with respect and given equal opportunities and works in an inclusive environment. The EBRD encourages all qualified candidates who are nationals of the EBRD member countries to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. As an inclusive employer, we promote flexible working and expecting our employee to attend the office 50% of their working time.

Tags: banking, financial services, product development, risk management