Prestigious International Bank based in the City of London, are looking to recruit a Chief Risk Officer (CRO).

Main purpose of the role will involve;

• Accountable to the Deputy Chief Executive Officer & COO on a day to day basis and the Bank`s governing body for oversight of risk management.
• Provide oversight and challenge of the Bank`s systems and controls in respect of risk management.
• Ensure the adequacy and accuracy of risk information and risk analysis to the Bank`s governing body.
• Report on the Bank`s risk exposures relative to risk appetite and tolerance, and the extent to which the risks inherent in any proposed business strategy and plans are consistent with the appetite and tolerance. In the event that business strategy or plans exceed the risk appetite and tolerance, to provide challenge.
• To react to the changing environment and point out any risks involved in this changing environment.
• Have responsibility for both Operational and Treasury Risk Management. For Treasury - drawing up and explicitly stating the bank`s approach to risk, and defining trading limits and the areas of the market that the firm can have exposure to.
• Monitoring the separation of duties between front and back office in conjunction with the auditors.
• Take ownership of the Bank's compiling of the ICAAP, ILAAP and RRP.
• Lead in the management of all aspects of Risk and Risk Types and institutionalisation of an effective risk management regime.

Main responsibilities will include;

• Prepare and maintain the Bank`s Risk Management Framework.
• General risk management including operational, treasury, credit, interest rate, exchange rate, market, strategic etc.
• Maintain the Risk Register.
• Meet with and liaise with the regulator as required. Prepare meeting notes as required. Ensure the Regulatory Reporting Department is compliant with the requirements of the regulator.
• Prepare the monthly Risk Management Report
• Complete reports for the Audit, Risk and Compliance Committee in respect of credit, operational risk, treasury and other high level matters as appropriate.
• Review all credit applications and make recommendations
• Monitor maturity profile of the loan book, discounts and bonds and the quality of the whole credit portfolio. Prepare a credit quality report for the Audit, Risk and Compliance Committee at least annually.
• Identify developing risk concentrations and other situations that need to be studied through stress testing and other techniques.
• Regularly review the Bank`s credit and other processes to ensure they comply with both internal and external regulatory practises
• Regularly review and comment as necessary on outstandings under approved limits whether of a credit or treasury nature. This includes limits covering countries, sectors, medium term, counterparties, position, intraday, and other such limits
• Review the counterparty limits and monitor any changes in the market in respect of the quality of such exposure.
• Monitor the bond portfolio daily assessing risk under various interest rate and maturity scenarios.
• Monitor the liquidity profile daily, bringing any concerns to the attention of management/committees including assessment of the funding profile
• Assess the level of interest rate risk including scenario analysis.
• Prepare the Market Risk Policy in conjunction with Treasury.
• Monitor the risk dashboard/matrix to ensure all escalation events are acted upon.
• Monitor the development and compilation of the Internal Capital Adequacy Assessment Process (ICAAP), the Individual Liquidity Adequacy Assessment Process (ILAAP) and the Recovery and Resolution Plan (RRP).
• Monitor the development and compilation of the Contingency Funding Plan (CFP) and the Pillar 3 Statement.
• Review the annual report and accounts of the Bank.
• Overview of risk exposure profile and P&L reports (Treasury)
• VAR as a common measure of risk exposure alongside modified duration, but not as a sole measure of risk exposure (Treasury).
• Independent validation of market pricing and pricing and VAR models (Treasury)
• Management of the Deputy CRO and responsibility of the Credit Risk Team.

To be considered for this position, ideal candidates must have the following experience and skills;

• Significant generalist broad based Risk knowledge (especially in Credit Risk due to Corporate Lending focus of the bank)
• Knowledge of Operational Risk an advantage
• Experience of Market Risk including Treasury Risk
• Extensive knowledge of Banking (preferably Commercial Banking) and working in a regulated environment
• Deep knowledge of the UK regulators' approach to risk, including the development of the ICAAP, ILAAP and RRP documents.
• Demonstrable experience of Risk, Compliance, Accounting and Audit procedures
• Experience of influencing and advising Senior Management on Risk e.g. on the Bank`s risk exposures relative to risk appetite and tolerance
• Evidence of providing challenge e.g. where business strategy or plans exceeded the risk appetite and tolerance
• Experience of developing or reviewing ICAAP, ILAAP and RRP documents.
• University degree/ professional qualification in finance and banking
• ACIB / Institute of Risk Management or other appropriate Risk Management qualification