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Head of Front Office Control

  • Location

    City of London, London

  • Sector:

    Operations & Middle Office

  • Job type:

    Permanent

  • Salary:

    £110000 - £120000 per annum

  • Contact:

    Scott Duerden

  • Job ref:

    SDHFOC01_1635325540

  • Published:

    about 1 month ago

Our client, a prestigious international bank based in the City of London, are looking to recruit a new Head of Front Office Control.

Main purpose of the position includes;

  • To ensure an appropriate and effective control environment within all Front Office activities but, specifically: The identification of all financial and non-financial risks introduced into the bank and the introduction and embedding of appropriate and effective risk mitigants to ensure that the inherent risk profile remains within the agreed risk appetite;
  • To oversee the production of timely, relevant and complete management information which will enable the 'UK' SMF employees to assess the effectiveness of their respective control functions in relation to their individual 'prescribed' and 'allocated' responsibilities;
  • Work closely with the 2LOD to support further embedding and maturity of the 3LOD model and evolve a robust 'Risk and Compliance' culture across the 1LOD;
  • Support business head risk owners in the embedding of a comprehensive Conduct Risk framework to enable the identification, mitigation, management and reporting of Conduct Risk; and
  • Drive clarity and collaboration across both the first and second lines of defence by introducing unified MI and systems that encourage and drive best practice.

Other responsibilities will include;

  • Ownership of the branch's control framework to deliver reduced risk of non-financial control breaches, incorporating cross-functional supervision of non-financial risks (both operational and conduct related) within the First Line of Defence, to deliver:
  • Enhanced governance - the framework must enable the assessment of effectiveness of controls across front office businesses
  • Control framework optimisation - the framework must deliver simplification and delineation of control responsibilities across each front office business, streamline the control design and simplify reporting models;
  • Improved responsiveness - pro-active management and execution of the control framework to meet the review and reporting requirements of the Branch SMF population and the UK Regulators;
  • The production and provision of independent MIS and reports that support and enable the branch senior management to assess the appropriateness and effectiveness of their respective operational control environment;
  • Oversees and coordinates the timely and effective production by the Business Heads and Support Units of the annual 'Risk Control Self-Assessments' (RCSAs) and 'Business Risk Assessments' (BRAs).
  • Oversee the production by the Business heads of any 'New Product' approval requests to ensure they align to the Branch's 'New Product Policy';
  • Be proactive - prepared to 'get involved' and 'roll the sleeves up' to make things happen.

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

  • A degree in one of the following disciplines (preferred): Finance or Business Management
  • Previous experience in a control environment role in a financial services organisation is desirable, but not essential
  • The candidate will need to demonstrate:
  • Understanding of Banking / Financial Services governance from a UK legislative and regulatory standpoint
  • Understanding of what an effective operational control environment looks like and experience in developing / managing an appropriate reporting framework
  • Understanding of the UK's 'SMCR' requirements and what is needed to support the annual attestation of 'fitness and propriety'
  • Strong verbal and written communication skills
  • Strong interpersonal skills and the ability to navigate through a 'function's led' organisation at all levels
  • Attention to detail and a well-organised approach to work
  • The ability to prioritise work and perform well under pressure
  • An analytical approach to problem-solving
  • Capability to manage through influence and the confidence to provide support and challenge to Senior Management and EXCO members
  • Integrity and discretion when handling confidential information
  • Ability to manage, coach and develop team members

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