Requisition ID 36168 Office Country United Kingdom Office City London Division Risk Management Full-Time/Part-Timeโ Full Time Contract Type Regular Contract Length Posting End Date 03/11/2025
Purpose of Job
The purpose of this role is two-fold. Firstly, to lead a team of Operational Risk (โOpRiskโ) professionals to enhance and continually develop the Operational Risk vision and strategy for the Bank to ensure it is sustainable and remains fit for purpose.
Secondly, to develop, drive, maintain and provide oversight of an institutional wide Operational Risk Framework for the Bank, that is both efficient and effective. This consists of a network of policies, processes, procedures, reports and responsibilities that are used to monitor and manage the operational risks of the Bank.
The Head of Operational Risk role will be the primary person responsible for ensuring the Bank has an active and robust operational risk management approach. Operational Risk is a business-critical component for the Bankโs three lines of defence model and is regarded as being a core & essential competence by stakeholders, rating agencies, clients, counterparties and other interested parties and impacts all aspects of the Bankโs critical operations. The Head of Operational risk is tasked with ensuring the Bankโs approach to Operational Risk is in accordance with good practice and aligns with the needs of the Bank.
The role is based in the second line of defence, providing independent oversight of the risks identified and managed by the business. It involves embedding the OpRisk framework and practices into the Bankโs operations and developing plans and strategies to ensure OpRisk culture is continually improved, through the innovative use of technology and aligning with external good practice.
Background
The strategy and vision for Operational Risk needs to be enhanced and developed to keep alignment with key internal and external developments, prioritising and delivering recommendations to enhance the Bankโs operational risk culture and capabilities.
The Bankโs Operational Risk Management Framework is the main mechanism through which key risks are identified and assessed and continue to be actively monitored. This is achieved through the use of risk appetite, risk indicators and key controls, and managed at levels acceptable to the Bankโs Risk Committee.
The objective of this role is to enhance and operate a robust Operational Risk Management framework across the Bank that is:
Organised in a way to allow risks to be assessed robustly and logically Utilised by the business to ensure that the framework is appropriate to the risks we face Integrated into business process and procedures. Dynamic, allowing issues to be addressed on a timely basis in changing circumstances.
This role works closely with other teams across the Bank to ensure the effective day-to-day management of operational risks across the enterprise.
The role also works with senior stakeholders internally (VPs, Managing Directors, Directors, Team leaders) and externally to deliver on its mandate.
Accountabilities & Responsibilities
The Head of Operational Risk is responsible for the strategic development and oversight of effective operational risk management activities across the Bank, where OR frameworks are deployed in order to improve the risk and control environment and reduce the impact of operational risk incidents.
They will continuously engage with the business and teams across the bank in both strategic developments as well in the review and challenge of risk information, with escalation of issues, via Director, Operational Risk Management, to the Risk Committee. Key responsibilities include:
Develop OpRisk management tools & methodologies in line with best practice approaches, the โOR Frameworkโ. Ensure the OR Framework, policy, guidelines and standards are maintained to meet changing EBRD needs and best practice alignment. Design and deliver OpRisk awareness training and support bankwide. Develop and maintain an operational risk network across the bank to support execution. Ensure Senior Management review and assess their key operational risks and the effectiveness of key controls on a regular basis, with actions identified to address any deficiencies. Provide best practice mitigation advice to ensure effective plans are in place to manage operational risks. Partner and challenge business areas to ensure analysis of incidents is conducted to identify root causes and trends, with effective management of action plans. For core risk issues that arise, ensure these are appropriately managed according to the OR Framework and in accordance with policy. Lead reviews of Risks and Risk Appetite, making