Head of Risk & Compliance

THE COMPANY:

Our client is a successful retail and corporate banking firm.  They are looking for a Head of Risk & Compliance, candidates must have previously held either SMF 4/16 or 17.

THE RESPONSIBILITIES:

• Establish, implement and maintain a comprehensive risk management framework and methodologies to cover all internal & external risks.
• Prepare and update various risk related policies including but not limited to Risk Appetite Statement, Risk Management Framework, MRM policy, ORM policy, Whistle blowing policy etc.
• Challenge and provide risk sign-off for other key policies from 2LOD standpoint.
• Monitor credit, market, operational, liquidity and other risks in accordance with the Bank’s risk appetite and escalate any breaches/potential breaches.
• Review credit proposals to ensure they meet the Bank’s risk acceptance criteria, are within the Bank’s approved risk appetite, and do not expose the Bank to hidden risks.
• Review the PQI (Portfolio Quality Index) of the asset portfolio periodically and assess inherent credit risk in the portfolio.
• Review and update formats for credit appraisals and conduct periodical review of sector / industry / country exposure of the asset portfolio, in conjunction with Credit teams.
• Recommend industry and product exposure ceiling / limits for approval by respective committees, wherever applicable.
• Independently review and challenge industry banding criteria and levels on a regular basis.
• Develop, monitor and review the internal Credit Rating models to ensure these models are aligned with the market conditions and reflect credit risk properly.
• Maintain the risk registers, ensure root cause analysis of risk incidents, and providing recommendations to management on risk mitigation actions.
• Oversee the execution of the Bank’s Risk Control Self-Assessment, and continued enhancements of the Operational Risk Framework.
• Review the Bank’s risk reporting and propose amendments where necessary in particular to address changes in regulatory requirements.
• Facilitate escalation of any potential PRA regulatory breaches to the relevant fora i.e. Manco, Risk Management Committee.
• Prepare and implement the approach to manage the climate related financial risks in terms of regulatory expectations.
• To act as designated official under Whistle blower scheme.
• Work with other departments to ensure compliance with risk standards and development of risk culture within the Bank including providing training and support to other departments where required.
• Ensure that the bank keeps up to date with developments in risk management requirements.
• Establish, implement and maintain processes and procedures to ensure that emerging and crystallised risks are identified and reported from all staff.
• Manage the risk team on day to day basis.- Co-ordinate with internal audit and ensure that full testing and compliance with all risk management procedures is effective throughout the Bank and escalate if any issues arise in this regard.
• Integrate risk management into all business decisions by ensuring effective risk identification and the creation of cost effective risk mitigations plans and controls by working closely with the business
• Responsible for developing and maintaining Compliance culture within the Bank;
• Create, review and update Compliance policies and procedures in line with regulatory guidelines;
• Programme for Compliance Training and competency development;
• Horizon Scanning and mapping of regulations with relevant business and operations;
• Create, review and update of policies and procedures pertaining to Financial Crime areas including KYC, AML, Sanctions, ABC and Fraud;
• MLRO Report covering Enterprise Wide Financial Crime Risk Assessment and oversight plan;
• Developing a risk-based Compliance Monitoring Plan (CMP);
• Implementation and review of CMP across departments and branches;
• Follow up on action points emanating from Compliance Oversight Reviews;
• Periodic reporting of KRIs and KPIs to Group Compliance

EXPERIENCE REQUIRED:

• Candidates must have previously held either SMF 4/16 or 17.
• Demonstrable experience in a similar Risk Management role within the Financial Services Sector.
• Proven in-depth knowledge and experience of Risk Management practices and Regulations.
• Currency on UK legislation specific to Risk Management.
• Technically competent/qualified Risk Management professional.

For further information please contact Eleanor Gowling