Operational Risk Analyst

3 days ago

London, UK, United Kingdom Zenith Bank Limited. Full time

About Us:

Zenith Bank (UK) Limited (ZBUK) is a subsidiary of Zenith Bank PLC, the most profitable bank in Nigeria with an established trajectory of superlative performance, as well a strong pedigree of innovation, resilience, and market dominance. On an annual basis, Zenith Bank PLC amasses a string of notable awards; one of the most recent being listed as the sole Nigerian brand on the World’s top 100 companies in 2023 by the World Finance Magazine.


Zenith Bank (UK) Limited (ZBUK) was set up with a clear strategy to leverage trade and investment flows between Nigeria and Europe, by providing intermediary banking services and facilities for trade-related working capital and capital expenditure.


Zenith Bank recognizes the importance of leveraging a highly skilled workforce to achieve its strategic and operational goals. The bank is committed to providing an environment that is conducive for effective performance by availing all staff the necessary learning opportunity. We value the well-being of our staff and we encourage them to strike a balance between their work and personal lives, thereby creating a healthy atmosphere for personal development and career success.


With the introduction of new services here in the UK and our unparalleled knowledge of business with Africa, our 5 year strategy ensures “Controlled Growth” as we aim to become the Bank of choice for businesses wishing to transact in the African continent.


Role Overview:

The operational risk function is required to lead and promote a positive culture of learning and continuous improvement by promoting “Do it once, Do it right” across the Bank. The aim being to drive the bank towards operational excellence and best in class practices of process understanding, documentation and control with appropriate innovation and efficiency. All the activities within Operational Risk need to be fulfilled with this broad objective in mind.


More specifically, Operational Risk fulfils the role of engagement on and monitoring of Operational Risk KRI’s, RCSA’s and Risk Events at Zenith Bank (UK) including appropriate, escalation and supporting remediation activities.


The role holder is expected to be influential, proactive, problem-solving self-starter who needs little direction holding both the gravitas and thoughtful engagement to promote collaboration and collective solutions across the bank.


Regulatory Responsibilities:

Ensuring compliance with the Conduct Rules set out below.


Risk Control Responsibilities:

  • Support the CRO in building and developing a positive risk management culture across the Bank, working with employees continuously to ensure risk awareness is embedded and robustly understood.
  • Ensure all EUC controls and processes are fully documented, appropriately controlled, backed up and verified.


Operational Risk

  • Lead and host regular events and operational risk workshops including strong early engagement with new recruits on operational risk to “set the tone” for expected behaviours in respect to controls across the Bank.
  • As the second line of defence, develop the banks operational risk management capability to investigate root causes and promote prompt, effective and lasting solutions.
  • Lead the oversight and challenge of the banks operational risk registers, KRIs, RCSA’s and risk events to ensure operational risks are identified, assessed and mitigated.
  • Assist 1st line of defence in improving the control environment as part of operational risk management.
  • Ensure reporting is effective, thoughtfully crafted, robust, data is accurate, breaches are promptly identified, escalated in a timely and effective way and appropriate early warning tools are installed and effective.


Risk Identification

  • Drive the Risk Control Self-Assessment (RCSA) process, Risk Event process, Key Risk Indicators and the High-Level Risk Register, maintaining reports within the Bank’s Operational Risk system of issues and actions; tracking actions to completion and challenging the business on the information captured to ensure matters are clear and easily interpreted.
  • Working with colleagues across the bank in coordinated and consistent approach to both the application of the operational risk discipline and resolution of operational risk issues.
  • Ensure that the Operational Risk framework is kept up to date with Risk Registers, KRI’s and Risk Events.


Monitoring

  • Provide relevant and accurate MI on the operational risks in the business units.
  • Maintain and update the Operational Risk internal Procedures and Policies, in conjunction with the CRO. Support other risk staff on similar documents as “one team”.
  • Enhancement and automation of risk reports and tools with Excel functions and VBA (where appropriate).


Escalation

  • Assist with the gathering and analysis of KRI management information to identify areas of risk in ZBUKs business activities, working with the business to ensure that appropriate action is taken.
  • To assist in providing reports for EXCO, Board Risk Committee and the Board.


Additional responsibilities

  • Keeping up to date with industry best practice and regulatory developments where this affects the risk management of the organisation, particularly with respect to operational risk.
  • Develop identification and monitoring on all aspects of Operational Risk including – Cyber, IT Security, Compliance, Financial Crime & Conduct Risk.
  • To assist with other analytical and project work and ad hoc duties assigned to them.
  • REP018 return ownership.


Skills and Experience Required:

  • Strong knowledge of and experience in a range of risk management disciplines and internal controls.
  • Attention to detail - to pick up on errors and produce accurate work.
  • Driven, ambitious, self-starter who can grasp a concept quickly and deliver a reasoned investigation and analysis.
  • Grasp of the reasons for a strong control environment and operates with this mentality.
  • Experience of, or significant exposure to, working in a Trade Finance environment.
  • Personable and approachable to all levels of employees.
  • Good understanding of the principles of risk management and risk management techniques.
  • Understanding of the use and risks associated with Interest Rate Futures, Foreign Exchange, Interest Rate Swaps, Bonds and CDs, Wholesale Money Market and Trade Finance Products.

Software Knowledge required / desired:

  • Microsoft Office package MS Excel Advanced (Essential) VBA (Desired).
  • MS Word and MS Outlook.

Specific knowledge desirable/not necessarily required:

  • IT framework and Cyber risk knowledge.
  • Temenos (T24), Calypso, Eurobase-Siena.
  • Accounting knowledge.


This is a permanent position paying up to £65,000 based on experience.

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