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Operational Risk Associate

  • Location: City of London
  • Salary: £40,000 + Benefits per year
  • Job Type:Permanent

Posted about 1 year ago

  • Sector: Credit Risk & Analytics
  • Contact: Edward Manson
  • Contact Email:
  • Contact Phone: 07779001748
  • Expiry Date: 08 December 2022
  • Job Ref: EM/19527

​Job purpose

The operational risk team support risk-based decision-making by the Board and Executive management through the design, operation, and monitoring of the Risk Management Framework ('RMF) and the Operational Risk Management Framework (ORMF), including monitoring compliance with the Banks Risk Appetite Statement (RAS) and related underlying policies, while co-ordinating related assurance, oversight and challenge activities.

The Operational Risk Associate will be required to support the Operational Risk Team, driving the development, implementation, and maintenance of the Bank’s 2nd line of defence.

A key aspect of this job is the development of operational risk skills, so a commitment to learning and development is a must as the successful candidate will be expected to undertake and successfully complete operational risk certification.

Key responsibilities and accountabilities

• Developing and maintaining strong relationships with key stakeholders

• Management and oversight of the end-to-end Events Management process

• Tracking closure of RCSA & Risk Event actions, ensuring Risk Events trigger a review of corresponding RCSA risks & controls.

• Maintaining master RCSA and Risk Event inventories and other Operational Risk records and data.

Policy Framework and Governance:

• Supporting the Operational Risk Lead with the management and update of the:

1. Operational Risk Management Framework

2. Risk Event Standard

3. Risk and Control Self-Assessment Standard

4. Model Governance Policy

5. Product Governance

Inventory maintenance:

• Risk Event Management: ensure policy & process understanding, undertake analysis of test and assurance activities, embedding within the respective units.

Essential qualifications & experience

• Familiarity with banking products and processes.

Desirable qualifications & experience

• Operational Risk Management from a first line of defence perspective or equivalent.

Essential competencies

• Structured thinking and analytical skills, ability to express ideas succinctly.

• Competent in the use of end-user computing tools including Microsoft Excel, Word, PowerPoint & Teams.

• Strong interpersonal and communication skills.

• A team player who is creative and adaptable.

Key success factors

• Create consistent high-quality output.

• Willingness to develop Operational Risk skillset.

• Understand and influence key stakeholders

• Maintain good working relationships with all areas of the Bank.

• Excellent communication, organisational and interpersonal skills.

• Roll up their sleeves where necessary.

• Undertake professional development to close skill gaps.

Please note, should feedback not be received within 28 days due to the large volume of applications, unfortunately, your application has been unsuccessful. However, we may be in touch with similar relevant opportunities.