Operational Risk Analyst

Role Overview

The Operational Risk Analyst supports the Operational Risk department in the Banks 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 groups 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