Our client, a prestigious International Bank based in the City are looking to recruit a Head of Operations Risk & Fraud. The selected candidate will assist the Country CRO within the existing London Risk department and will be expected to harness a strong Operational & Fraud Risk governance framework. The job holder will assist in developing and implementing an integrated Operational risk, Fraud risk and Business Continuity management strategy; framework and control system to ensure the London office operates within an agreed risk appetite and complies with its internal policy and external local regulatory obligations.

Main responsibilities will include;

• In conjunction with, and as required by the CRO, manage the comprehensive risk reporting framework (covering risk profile of the London office, macro risks factors, risk mitigations plans etc.) for Operational Risk and Fraud Risk for the UK and Group Risk Committee
• Produce regular reports for London's senior management on London's risk profile with mitigation plans. Assist the CRO & the relevant London based Committees in the taking appropriate decisions to manage the risk profile within the set appetite
• Formulation, implementation and delivery of the London office's risk strategy in line with the vision, mission, values and priorities
• Maintain, execute and continuously improve London branch's risk management strategy, frameworks, limits, and tolerances to assess and mitigate the risk exposures, and to ensure the London office operates within its pre-defined risk appetite, aligned to the group's risk & business strategy
• Develop and effectively implement risk policies (Operational risk, Fraud Risk and Business Continuity Management), procedures and controls covering all areas of London office so that all relevant procedural/legislative requirements fulfilled while delivering a quality, cost-effective service
• Assist in development and implementation of risk monitoring, models and control systems and process in partnership with group risk heads and business heads to support risk-based decision making
• Oversee the London office's Operational Risk Management; reporting operational risk profile, ratifying and recommending relevant Operational Risk management actions and mitigation strategy
• Roll-out the bank's policy re Operational Risk Management in the London office
• Facilitate the KRI & RCSA process with the Businesses in London office incl. threshold definition and the ongoing monitoring of KRI's
• Review loss and incident data incl. actuals, near miss or potential events across London branch and provide the necessary guidance to the businesses in completing the incident reports as per the required standards
• Monitor KRI data specific to London office re breaches against acceptable thresholds; review the corrective actions taken in regard to breaches
• Implement the risk assessment procedures across London branch and monitor / review corrective actions for loss incidents. Review root cause analysis and corrective actions; monitor status of corrective actions
• Prepare the reports for the submission to local Compliance/Fin Crime for regulatory reporting purposes if required
• Roll out the Bank's Group Business Continuity framework in London branch ensuring the implementation and periodic reviews of the relevant tools (Business Impact Analysis, Business Continuity plans/tests, Crisis Management plans, Call tree maintenance, etc)
• Oversee the London office's Fraud Risk Management; reporting Fraud risk profile, ratifying and recommending relevant Fraud Risk management actions and mitigation strategy.
• Roll-out the bank's policy re Fraud Risk Management and the Fraud risk Framework in London office
• Review prevention controls in the local business operating environment
• Review root cause analysis and corrective actions; monitor status of corrective actions incl. recovery across London office
• Roll-out the fraud risk monitoring and reporting framework in London office
• Prepare reports for the submission to local Compliance/Financial Crime for regulatory reporting purposes if required
• Monitor the periodical review of the products and processes and provide risk mitigation controls while ensuring the accurate identification of risk exposure in new products and services to ensure that risk implications are appropriately considered and mitigated (PPGs/Country Addenda)

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

• Must possess excellent verbal and written communication skills and be confident in dealing with senior management, auditors, regulators and other stakeholders to ensure constructive dialogue and productive outcomes
• Must have a proven track record in operational risk management
• Have the ability to work independently and make decisions in a pragmatic and fully thought through manner within the governance structures of the organization
• The incumbent should be conversant with the regulatory and compliance requirements around management of operational risk, Fraud and Business Continuity and will demonstrate an ability to develop innovative solutions, to ensure strong and effective control processes that meet and exceed minimum standards
• A strong team player who will be able to demonstrate that they can engage positively and productively with local stakeholders and at Group level (including the Group operational management teams and other support functions) to ensure a strong and effective Operational risk, Fraud and Business Continuity management culture is maintained throughout the branch
• Bachelor's degree in Finance or related discipline (Master's degree in Business Administration, or a related discipline is preferred)
• 8 years plus relevant experience in the Banking sector within at least 6 years within Operational Risk
• Professional Certification in a related discipline is preferred
• Knowledge and experience in the UK regulatory environment