We are inviting applications for Head of Risk for an international Bank based in city of London. Our client is in Wholesale Banking very established Bank in UK. This is a permanent position starting immediately.
Key Responsibilities:
The primary responsibilities of the position are to:
· Risk Management Framework and Monitoring of Risk Limits:
o Establish, implement and maintain a comprehensive risk management framework and methodologies to cover all internal & external risks.
o 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.
o Challenge and provide risk sign-off for other key policies from 2LOD standpoint.
o Monitor credit, market, operational, liquidity and other risks in accordance with the Bank's risk appetite and escalate any breaches/potential breaches.
· Credit Risk Assessment:
o 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.
o Review the PQI (Portfolio Quality Index) of the asset portfolio periodically and assess inherent credit risk in the portfolio.
o 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.
o Recommend industry and product exposure ceiling / limits for approval by respective committees, wherever applicable.
o Independently review and challenge industry banding criteria and levels on a regular basis.
o Develop, monitor and review the internal Credit Rating models to ensure these models are aligned with the market conditions and reflect credit risk properly.
* Operational Risk Management:
o Maintain the risk registers, ensure root cause analysis of risk incidents, and providing recommendations to management on risk mitigation actions.
o Oversee the execution of the Bank's Risk Control Self-Assessment, and continued enhancements of the Operational Risk Framework.
· Mid Office/ Market Risk Management
o Supervise and review the activities of the Head Mid Office in particular and all mid office activities in general
o Review the daily mid-office reports and ensure that operational limits pertaining to market risk are maintained.
o Ensure all breach monitoring and reporting is complied with
* Regulatory Compliance:
o Review the Bank's risk reporting and propose amendments where necessary in particular to address changes in regulatory requirements.
o Facilitate escalation of any potential PRA regulatory breaches to the relevant fora i.e. Manco, Risk Management Committee.
o Prepare and implement the approach to manage the climate related financial risks in terms of regulatory expectations.
o To act as designated official under Whistle blower scheme.
* Risk Culture, Co-ordination and Team Management:
o 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.
o Ensure that the bank keeps up to date with developments in risk management requirements.
o Establish, implement and maintain processes and procedures to ensure that emerging and crystallised risks are identified and reported from all staff.
o 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.
o 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.
* HR Deliverables:
o To manage a team of operational staff towards achieving performance targets.
o To develop and coach staff and raise their competence to be best in class on a sustainable level.
o To train and cross-train staff through job rotation and relief assignments to increase job depth and job width and to facilitate career progression and succession plans