Head of Risk - Risk Management - Corporate Banking
Position: Head of Risk
Division: Risk Management
About us: We are a Global Financial Services firm with international offices across Africa, Asia, Europe and the Middle East.
As the Head of Risk, you will have overall responsibility for identifying, monitoring and managing the various risk profiles associated with the operations in the UK.
You will create, review and recommend a risk management strategy for the UK and define the risk appetite and risk policies for the UK within overall Group risk policies
- Implement and manage Group Risk measurement methodologies to quantify risks in a consistent manner across the UK covering credit, portfolio, market, liquidity operational and regulatory risks;
- Monitor and escalate emerging risks, changes to regulation, changes to the risk profile, the proposed or actual adoption of new products and distribution channels or any other factors that affects the branch's risk profile to Group Risk in a timely and proactive manner.
- Prepare such policies and procedures as are required for the operation and management of the framework (with reference to ensuring alignment with Group and Local regulatory requirements) and oversee their implementation;
- Maintain the framework by making such changes as are necessary in response to:
- Changes in business conditions or the Group's risk appetite
- Changes in regulation
- Changes in technology
- Implement a regime to monitor the ongoing effectiveness of the risk framework in risk, regulatory and operational terms (including Group measurement and reporting requirements), recommending such changes as may from time to time be required;
- Periodic review of metrics and processes for the collation and production of KRI and EWI reports and implement or enhance as necessary; raise risk alerts to Group Risk and initiate remedial action agreed by Group Risk
- Attend or chair risk and other control or oversight committees set up for the UK;
- Stay abreast of local regulatory developments and industry best practice, introducing revisions to the framework in response to both;
- Input to the development of risk management practice and policies across the wider Group.
- Work closely with the Compliance and Internal Audit Departments to ensure the work of all areas mesh together with no gaps and appropriate "3 level" controls are maintained across all areas of the business;
- Assist operational teams with risk issues, notably Disaster Recovery planning to ensure robust procedures and systems are in place;
- Participate in and contribute to, management meetings for the UK;
- Regulatory liaison in conjunction with Head Office and UK CEO;
- Hold meetings with direct reports and assess their performance as well as the department's overall performance with Group Risk and UK CEO on a regular basis.
- Take decisive action to ensure speedy resolution of unresolved grievances or conflicts within the Risk Management team.
- Maintain a close and collaborative relationship with colleagues in Group Risk.
- Oversee development and implementation of new processes and procedures (including requirements mandated by Group) with respect to Risk Management and be the point of reference for all matters concerning risk. Drive the continuous improvement of risk controls, process efficiency and reporting standards.
- Monitor effectiveness of and enhance and develop processes and procedures in conjunction with Group Risk Management to improve effectiveness of risk management at branch.
- Review and process queries / proposals relating to all aspects of Risk Management.
- Critically evaluate limit proposals covering all functional risks and submit for approval by Group Risk/Group Credit supported by business rational and qualifying / supporting comments.
- Liaise and work with Operations, Group Risk, Information Technology, Treasury and Finance to ensure appropriate support is given to the implementation of Branch and Group Risk Management requirements
- On a dynamic basis research and study trends in international markets with respect to all aspects of risk management to ensure early warning indicators are in place to communicate emerging risks and minimize losses to the Bank
- Remain up to date on all aspects of regulatory limits, controls and requirements and Central Banks and regulators in the UK.
- Proactively manage credit portfolio risk by executing Group Portfolio Management Framework :
- Prepare Risk Appetite metrics along with the UK business strategy agree with Group Risk on a yearly basis and monitor compliance on a monthly basis.
- Apply ad-hoc event driven and regular stress testing and take management mitigating actions agreed by Group Risk.
- Oversee & control rating and risk pricing model outputs created by RMs and ensure compliance with use test requirements.
- Manage the cross border country risk as per the UK Risk Policy
- Monitor and maintain risk relevant data quality, provide data quality attestation to Group Risk on a regular basis
- Ensure the portfolio complies with sustainability risk policy
- Provide and continuously improve regular Portfolio MI reporting
- Support Group risk regarding updating on emerging sector trends and industry benchmarks (Watch list, NPL trends etc...)
- A superior knowledge of Credit, Market (including IRRBB), Liquidity, Operational, Counterparty, Reputational and other financial and non-financial risks that might expose the Bank to loss
- Ability to operate and perform in a diverse environment under general direction, guidelines and rules.
- Superior negotiation skills cross functionally and externally.
- Superior communication skills both interpersonal and for communicating messages across and up and down levels.
- Ability to reflect on own performance and seek out the counsel of peers, subordinates, seniors and external reviewers to enhance performance
- Develop leadership and talent within the organization with associated performance management as required by the Bank from time to time
- Comply with all applicable legal, regulatory and internal compliance requirements including, but not limited to, the UK Compliance manual; Compliance Policies and Procedures and; the Anti Money Laundering & Counter Terrorist Financing Policy and Procedures Manual.
- in accordance with the Branch Governance manual, contribute to and comply with the Branch's Risk Framework, consider Risk Appetite and promote a positive Risk Culture:
- Understand and effectively perform your role under the Three Lines of Defence principle to identify, measure, monitor, manage and report risks.
- Ensure systematic good outcomes for clients in accordance with Conduct Risk policy.
- Support the framework of RCSA, KRI, Incident reporting and remediation, as appropriate, in accordance with the Operational Risk Management requirements.
- Ensure Branch complies with all Group Risk reporting requirements
- Maintain appropriate knowledge to ensure to be fully qualified to undertake the role. Complete all mandatory training provided by the Bank and attain and maintain the required levels of competence.
- Attend mandatory (internal and external) seminars as instructed by the Bank.
- Ensuring high standards of data protection and confidentiality to safeguard commercially sensitive information. Maintaining utmost confidentiality with regards to customer and internal bank information obtained during the course of business and provide such information on a need to know basis only to Senior Management, Audit and Compliance functions, and relevant Regulators.
- Maintains high professional standards to uphold the bank's reputation and to strengthen its market leadership position.
- All other ad hoc duties and/or activities related to the bank that management may request of the employee from time to time
Education and Experience Requirements:
- University graduate (Bachelors degree) preferably with a Major in Finance, Banking, Economics, Mathematics, or Business Administration (related field of study), Masters preferred
- Additional recognized qualification in financial Risk Management
- 15+ years Risk Management experience at a large Corporate bank in the UK
- Excellent knowledge and understanding of Risk Management
- Sound capabilities in a Functional Management role preferably in a multinational environment
- Solid international experience either in an international posting or working internationally involving interaction with diverse environments and different cultures.
- Demonstrated ability to manage cross functional relationships.
- Required Special Skills:
- Excellent oral and written communication skills
- Commercial approach to managing risk
- Strong analytical capability and "hands on" approach to understanding and analysing risks.
- Familiar with the balanced scorecard approach.
- Good presentation skills.
- Ability to work with stakeholders from diverse cultural backgrounds.
- Ability to manage a variety of groups, each with their own objectives to achieve a common goal.
- Superior negotiation skills