Head of Risk Management (SMF4)

  • Location

    West End, London

  • Sector:

    Operations & Middle Office

  • Job type:


  • Salary:

    £145000 - £155000 per annum

  • Contact:

    Scott Duerden

  • Contact email:


  • Job ref:


  • Published:

    about 1 year ago

Prestigious International Bank based in the West End of London, are looking to recruit a new Head of Risk Management who will hold the SMF4 function. 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 Head of Risk 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. In establishing the risk appetite, the Head of Risk will work closely with all control functions within the London Branch. You will also be responsible for establishing, implementing and maintaining adequate risk management policies, processes and procedures, including effective procedures for risk assessment which identify the risks relating to the London Branch's activities, processes and systems.

Key Requirements:

Taking a proactive approach with respect to the London Branch's risk strategy and managing all risk functions relating to the London Branch. This includes establishing a country level risk appetite in consultation with London Branch Exco and Group Chief Risk Officer (CRO).

  • Accountable to the CEO - UK for the oversight of risk management for the London Branch.
  • Fully independent of the branch's individual business units.
  • Maintain appropriate procedures for risk identification, measurement and assessment as well as procedures for risk management.
  • Chair the London Branch Risk Committee and ensure it is an effective and fit for purpose Risk committee.
  • Responsible for the risk management framework including the maintenance of the operational risk management, market risk management, liquidity risk management, and other risks such as conduct risk management.
  • Ensure that the appropriate M.I is collated and the data used by the branch to assess its risks are fit for purpose in terms of quality, quantity and breadth.
  • Provides oversight and challenge of the branch's systems and controls in respect of risk management.
  • Provides oversight and validation of the branch's reporting of risk and ensuring controls are adequate to proactively manage current risks as well as forward looking risks.
  • Work with and implement strategies put forward by functional reporting line; Group CRO at Head Office.

Main responsibilities will include;

  • Developing, managing and refining qualitative and quantitative risk reporting in all risk areas which meets the needs of the London Branch Exco in order to support effective decision making in line with the London Branch risk appetite
  • 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
  • Partnering effectively with third parties, regulatory bodies and others as appropriate and serving as a role model for high personal and corporate ethical values and standards of integrity in line with the Bank's core values
  • Providing essential input as a member of senior management and the executive committee and credibly challenging the management of current issues and the development and implementation of strategy
  • Managing and participating in key decision making processes such as strategic planning, new products and services, compensation design with a particular focus on ensuring conduct risk is considered, identified and mitigated.
  • Regularly and on an ad hoc basis, evaluate the risks faced by the branch and its overall risk profile with a particular focus on process controls.
  • Ongoing evaluation of existing risks as well as the identification of new or emerging risks. Measurement should include both quantitative and qualitative elements.
  • Internal risk controls remain fit for purpose
  • Collaborating with the relevant stakeholders (both internal and external) e.g. Group Risk, Internal Audit, Regulator to identify and implement best practices across the London Branch.
  • 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.
  • Manage the Operational Risk Function.
  • Effectively manage staff using appropriate management skills.
  • Provide mentoring to staff as well as opportunities to develop skills and knowledge.
  • Ensure compliance of the team with relevant internal and external regulation as announced from time to time through official communication channels.
  • Assigning tasks and delegating duties.

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, 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 and Conduct risk.
  • Excellent communication (both verbal and written) and Presentation skills in particular targeting the relevant business area with a clear message.
  • Excellent command of written and spoken English. Exceptional time management skills with the ability to thrive whilst working under pressure from a variety of different business units.
  • 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.
  • Exercise oversight over governance, risk and control arrangements in a financial operation.
  • Problem solving and decision making skills, with the ability to analyse complex information to identify the key issue/action and drive resolution
  • In addition to the duties listed, the employee may, from time to time, be required to perform other duties assigned by the line manager
  • Proven ability to oversee a number of risk types, including credit, market, operational, investment, regulatory and strategic risk
  • Excellent knowledge of MS Office skills in Word, Excel and PowerPoint
  • Should have a positive "can do" attitude combined with a flexible approach to the tasks required
  • An ability to use own initiate and prioritise work.

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