Up to £150000 per annum
11 days ago
Our client, a prestigious International Bank based in London are looking to recruit a Chief Risk Officer to join their expanding Risk department. The Risk department's responsibility is to identify, measure, assess and manage risk on behalf of the London Branch within the established London Branch risk appetite. The CRO is responsible for establishing the London Branch risk appetite and ensuring that it is aligned to the Group Risk appetite and the London Branch business as agreed with the London Branch Exco. This position will report into the CEO - UK as well as having a functional line to the Group CRO in Head Office. The CRO is expected to embed and drive the Risk culture for the London Branch with support from the CEO - UK where necessary.
Main responsibilities will include;
- Responsibility for management of the UK branch's risk management processes in the UK
- Advice on risk strategy and oversight of current risk exposures and ensure that residual risk is within risk appetite.
- Development of metrics to be used to monitor the branch's risk management performance.
- Ensure all risk limits (i.e. Market Risk Limits, Treasury Credit Limits and Issuer Risk limits) as sanctioned by the Group are complied with.
- Ensure all risk limits for London branch are monitored and reported on a consolidated basis to Group market Risk Head.
- Ensure all policies as defined at Group level including any local regulatory addendums are complied with.
- Ensure Liquidity risk limits for London branch as delegated by Group ALCO are complied with.
- Head of Risk to partake as a member of the Branch ALCO and provide oversight through the ALCO process.
- Provide challenge to First Line assessment of conduct risk embedded in the construction of new products or services for clients.
- Provide challenge to strategic decisions where potential client detriment is not adequately assessed.
- Provide reports to the senior management body of the state of the risk culture within the London Branch.
- Provide oversight and challenge of the design and execution of scenario and stress testing with a focus on positive client outcomes.
- Quantify aggregate Branch wide risk exposure and provide advice to Senior Management on the costs and benefits of managing risks
- Approve/Decline and Recommend Credit Proposals emanating from all the business Units.
- Ensure and maintain sound Credit Portfolio, hence minimizing losses and maximizing return on assets and shareholders' equity
- Developing, managing and refining qualitative and quantitative risk reporting in all risk areas which meets the needs of the London Branch
- Working closely with the CEO - UK and Senior Managers across the business moulding a high-achieving, well-controlled organisation which can achieve targets safely;
- Continuously overseeing, developing, enhancing and embedding the Branch's risk framework for managing risks across the Branch, ensuring that processes are fit for purpose;
- Together with the London Branch Exco and GCRO, setting the London Branch risk appetite (including but not limited to operational risk, market risk, liquidity risk and conduct risk) and implementing key risk indicators in order to monitor their performance in relation to the same.
- Embedding a positive culture of confident and informed risk-taking through training, communication and promotion of the agreed risk framework and in line with the Branch's risk appetite;
- Manage the London Branch Risk framework and monitor developments in real time to provide the right level of attention and action to Bank issues.
- Assesses and communicates information regarding business risks with functions across the organisation.
To be considered for this position, ideal candidates must have the following experience and skills;
- Minimum of 10 years' experience of working within Risk Management in the Financial Services sector with a focus on a holistic risk management process for the Branch including but not limited to operational risk, market risk, liquidity risk, credit risk and conduct risk.
- Strong technical knowledge as well an ability to translate this into practical solutions for the Bank.
- A strong ability to influence senior management both in London Branch and at Head Office.
- Leadership skills including the ability to manage risk and control activities in a financial operation and including an extensive understanding of Operational, Market, Liquidity, Credit and Conduct risk.
- Considerable knowledge and experience of best practice risk management and governance frameworks, methodologies and emerging practice in relation to the UK financial services.
- The ability to liaise closely with senior management by conveying and explaining operational or business information fluently and coherently in one-to-one and group situations.
- Proven ability to oversee a number of risk types, including credit, market, operational, investment, regulatory and strategic risk