Operational Risk Officer
6 days ago
Key Responsibilities:
This position involves supporting the Head of Risk in the following areas:
- Developing, implementing, managing, and ensuring compliance with the company's risk framework, processes, and procedures.
- Enhancing and maintaining the operational risk framework.
- Building and nurturing strong relationships with operational teams (e.g., IT, Business Transformation, Procurement), acting as the primary point of contact to facilitate effective communication, collaboration, and influence.
- Leading operational risk analysis, managing risk events, and preparing risk reports.
- Providing second-line oversight by engaging in stakeholder meetings, project boards, and risk reviews.
- Leading the ORSA (Own Risk and Solvency Assessment) process, including the creation of quarterly and annual reports.
- Presenting operational risk reports to relevant Operations and Risk Committees.
- Conducting annual reviews and updates of risk frameworks and policies.
- Planning and executing the quarterly Risk & Control Self-Assessment process.
- Developing and maintaining the Risk Register, ensuring it is accurate, up-to-date, detailed, and effectively used by the business.
- Coordinating the regular production and analysis of key risk information and Management Information (MI).
- Implementing the Risk Appetite Framework, including collecting quarterly metrics.
- Assisting in the management of incidents and performing root-cause analysis.
- Conducting special risk assessments for areas with potential risk exposure to the business.
- Supporting Operational Resilience activities, including the development of the annual testing plan and participation in test scenarios.
- Aiding the implementation of the business's Risk Framework across Group companies.
- Assisting with the completion of RMT-related regulatory returns, including Statutory Reports & Accounts, Lloyd's Oversight Principles, and Head Office's Control Self-Assessments.
- Providing coaching, mentoring, and succession planning to support the career development of the team.
- Ensuring awareness and compliance with the PRA & FCA Standards of Conduct.
- Staying informed about and complying with the rules, regulations, and requirements of relevant regulatory, statutory, and supervisory bodies in the business's operational regions.
- 5 + years experience working in operational risk.
- Experience working within Insurance/London Market is preferred insurance or financial services.
- Strong stakeholder engagement experience.
- Excellent communication skills, both orally and in writing.
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