Operational Risk Associate

2 months ago

London, UK, United Kingdom British International Investment Full time

British International Investment is the UK’s development finance institution, owned by the UK Government. With a mission to solve the biggest global development challenges, we aim to create a virtuous circle of investment and impact. Your contribution will be essential.

It won’t be easy: we do the hardest work in the most complex markets. Be prepared to test your skills, get creative and say your piece as you take on high-profile work as part of a diverse team of exceptionally smart, passionate people.

In return, you can take your career to all-new places in a culture that rewards curiosity and collaboration, and balances high performance with wellbeing.

BII at a glance

75 years supporting sustainable business growth in developing and emerging markets

£8.1 billion in net assets

1,400+ businesses invested in

950,000 workers in the businesses we support

£9 billion in new investments planned in the next 5 years

600+ people in our diverse global team

3 key development objectives: Productive | Sustainable | Inclusive

Team and role overview

Risk management is critical to every aspect of our businesses at BII. The Risk Office is central to identify, mitigate and manage risk and maintain transparency with all stakeholders. As one its key pillars, the Operational Risk team is responsible for the design and implementation of BII’s overall operational risk management framework, including:

Supporting risk owners in the identification and prioritisation of risks, enabling them to make informed decisions about which risks require additional attention, and ultimately resulting in a reduction in the potential impact of risks to BII
Provide BII-wide risk reporting to the Operations Committee, Risk Committee, Board and Shareholder, enabling these bodies to understand the main risks facing BII and how they are being managed, and to direct management to take further action if required
Continuous improvement of BII’s risk framework, given this is an area where external expectations are evolving over time.

The role of the Operational Risk Associate is to support the Operational Risk Director in delivering these responsibilities, with a particular focus on reporting and managing the tools in place to assess operational risks at BII (such as risk register, risk event reporting and key risk indicators). The Operational Risk Associate will initially have responsibility for BII’s corporate teams but is expected to provide back-up coverage of BII’s investment and impact teams.

Purpose

Ownership and responsibility of Operational Risk for the teams covered, including key stakeholder in Corporate functions. The Operational risk associate is also the subject matter expert for operational risk systems and interact with a wide range of internal stakeholders in the Risk team, technology, corporate functions and investment teams.

Responsibilities

Operational Risk Management

  • Be the Operational risk lead, initially for Corporate functions. This includes management of BII’s risk register programme, lead risk register reviews and risk event management for those teams.
  • Working with risk owners to ensure that risks are identified and assessed appropriately, and following up on proposed action plans to ensure they are implemented.
  • Conduct root-cause analysis and analyse trends in risk events, recommending actions to reduce the likelihood of future errors.
  • Review key risk indicators and metrics as an input to risk assessments.

Governance Risk Management and Compliance (GRC) System

  • Become a subject matter expert on Riskonnect, BII’s GRC software.
  • Become the Risk team point of contact for Riskonnect, including access management.
  • Keep the information in the tool relevant and propose enhancements.
  • Be the SME for building and extraction of reports from Riskonnect.

Reporting

  • Produce periodic risk management presentations for BII’s governance committees and Board Risk Committee
  • Support the Operational Risk team to deliver timely and good quality risk management reports to the CRO, Operations Committee, Risk Committee of the Board and Shareholder
  • Quarterly submission of process risk metrics, part of the monitoring of BII’s RAS
  • Develop and produce new reports, including risk events, key risk indicators, risk appetite and risk-related actions

Ad-hoc projects

  • Support BII’s Risk Director in the deliver of projects, focused on enhancements to BII’s risk framework or mitigation of specific high-priority risks

Risk Culture

  • Be an agent of risk culture dissemination, including design and provide training to stakeholders.

The candidate
Technical skills

  • Proven operational risk or risk reporting experience, ideally in the financial services sector
  • Ability to apply operational risk assessment techniques including risk control self-assessment (RCSA)
  • Ability to gather, analyse, evaluate and present risk management data, including risk events and key risk indicators
  • Ability to prepare and present concise oral and written reports
  • Analytical rigour and attention to detail, in particular when preparing reports and analysing data.
  • Working knowledge of PowerBI is desirable. Riskonnect or Salesforce based GRC tool is not required but the successful candidate should be willing to become an expert on it.
  • Personal Skills
  • Organisational skills and ability to plan and manage multiple tasks concurrently and independently.
  • Ability to communicate clearly and concisely, both orally and in writing.
  • Ability to manage a project to deliver solutions/capabilities that meet business requirements.
  • Ability to work across all levels within the organisation and provide constructive challenge to risk owners.
  • Ability to establish and retain effective working relationships with stakeholders.

Passionate about Emerging Markets and the role of Development Finance Institutions.
Candidates should be strongly motivated by BII’s development mission and ideally demonstrate some commitment to development or social goals through previous executive or non-executive activity.

Our cultural values

We look for team members who aspire, as we do, to work at our best and to be:

  • Impact-led, commercially rigorous
  • Tenacious in the face of challenges
  • Collaborative and caring

British International Investment is committed to diversity and inclusion and welcomes all applicants regardless of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity, race, religion or belief, sex, sexual orientation or educational background.

Please provide a cover letter with your application

Salary: Competitive

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