Head of Operations

Posted 05 December 2023
Salary £140000 - £160000 per annum
Job type Permanent
Discipline Banking Operations
Contact NameWill Goodman

Job description

Prestigious International Bank based in the City of London, are looking to recruit a Head of Operations. Primary responsibility will be to provide effective management and control of end to end processing of all UK based Operations covering Loans Administration and Payments Services. You'll be responsible for the day-to-day running of the team to ensure the efficient operation of all duties and tasks involving in those teams. As a senior member of the UK Operations Management Team, the Head of Operations is expected to actively contribute to function, branch and Group wide projects and initiatives. The role holder will be required to deputise for the UK Head of Operations on occasion.

Main responsibilities of the Head of Operations will include;

  • Responsible for ensuring that loan documentation, credit lines, fees and margins adhere to approved credit sanctions and that there are specific procedures in place to ensure that security and other required documentation are properly maintained and controlled.
  • Periodically review policies, process maps, procedures to cover all core functions across the department.
  • Ensure appropriate SLAs & TATs are established for all core processes
  • Ensuring KRI's are established and reviewed within the Operational Risk & Control Framework.
  • Ensure any services outsourced (either internally or externally) have proper agreements in place, plus effective monitoring and control.
  • Monitoring: monitoring the performance of the team through the performance reporting system & KPIs and take corrective actions wherever necessary.
  • Assessment: assessing the progress made by team members to ensure that they are all working towards achieving a common goal for the organisation.
  • Consultation: giving suggestions and advising the UK Head of Operations for undertaking key changes in the planning of pivotal business strategies and decisions.
  • Planning: Strategic planning to achieve the organization's objectives, as well as planning the activities of various departments and discusses them with the respective heads.
  • Budget Development: overseeing the department budget by considering the short-term and long-term goals of the organisation.
  • Execution: successfully executing various activities and strategies to meet the goals of the organization. Achieved via a result-oriented approach while implementing innovative ideas.
  • Supporting Policies: develop, improve, and direct strategies to support and promote the policies and objectives of the organization.
  • Process Management: mentoring of the inception and incubation of a best in class process, its enhancement and successful implementation.
  • Focus on improving operational efficiency to show year on year improvement in cost, quality and customer service satisfaction.
  • Ensure all incidents (e.g. operational losses, fraud, money laundering) are reported to the Operational Risk/MLRO and seek to mitigate the error, ensure they are satisfactory resolved.
  • Review internal & external Audit reports, ensure follow up and resolution to issues highlighted.
  • Preparation and checking of facility letters prior to issue and signing on behalf of the Bank as an authorised signatory.
  • Checking of security documentation prior to loan drawdowns and follow-up to ensure completion of records.
  • Monitor bilateral and syndicated loan transactions.
  • Liaise with other departments, solicitors, valuers, insurance brokers, monitoring surveyors and customers as and when necessary.
  • Review various reports in relation to Loans Administration duties e.g. outstanding insurance, annual credit reviews due, facilities due to mature etc.
  • Monitor and review all property insurance records.
  • Oversee the ongoing maintenance and the filing of all loan related correspondence.
  • Monitor project developments.
  • Monitor and update commitment fees and ensure entries are processed on a monthly and quarterly basis ensuring 100% accuracy at all times.
  • Liaise with Treasury in London and Head Office for loan booking confirmations and rate advice as required
  • Monitor workflow ensuring tasks are distributed evenly throughout the team guaranteeing all tasks are covered before deadlines
  • Payment creation and authorisation via SWIFT Alliance and Intellect as required
  • Monitor and chase outstanding Payment Queries and resolve issues in a timely manner
  • Payment queries relating to Private Banking customers.
  • Review Nostro and Vostro balances and Reconcile outstanding Nostro account items on a periodic basis.
  • Liaise with the Global operations teams and Customer Services to solve Operational processing problems and identifies the need for escalation of issues.
  • Proactively identify service issues with client facing impact and brings them to the attention of appropriate parties for resolution.
  • Present information clearly and in an appropriate style, clarifying technical information in order that PB customers fully understand operational issues.
  • Approve the daily Agency and clearing files, direct debits, standing orders and managers cheques
  • Booking and maintain time deposits
  • Any other duties as and when required

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

  • Previous T24 operational experience - ESSENTIAL
  • Extensive knowledge and experience of credit documentation and loan agreements gained in the London Market.
  • Experience of supervising a Loans Administration and Payments team in a banking environment
  • In depth knowledge of global Payments procedures and systems; knowledge of The Payment Services Directive and SEPA regulation's.
  • In depth knowledge of SWIFT Alliance message formatting requirements.
  • Experience in conducting Risk Assessments for a department
  • Excellent communication and interpersonal skills.
  • Developed organisational and planning & time management skills.
  • Strong problem solving and analytical skills.
  • Sound judgement, particularly in relation to identifying risks and problem resolution.
  • Good working knowledge of Microsoft Office products.