Business Title: Market Risk Operational Risk Analyst Grade: Grade 6 Business Unit: UK Year: 2017 PURPOSE: * To support the ongoing implementation of the Operational Risk Framework across all of Market & Traded Credit Risk. * To enhance the control environment within MTCR, with particular focus on ensuring effectiveness and suitability of controls to meet all regulatory and internal policy requirements. * Ensure effective management of Operational Risk within MTCR including ensuring the proper functioning of embedded controls.
Key Roles and Responsibilities
RESPONSIBILITIES: Operational Risk * Support the ongoing development of the MTCR Operational Risk Framework (ORF). * Assist with the management of the MTCR Operational Risk Excellence (OPEX) Forum. * Review and challenge the existing process to identify the gaps on Systems Design, Systems Control, Process Design and Process Control. Propose effective process controls where there are material risks of process control failure. * Engage closely with other Operational Risk teams across different functions to share the lessons learnt, best practice and to ensure consistency across the functions where possible. * Draft risk acceptance papers as necessary for tabling at FM PGC, with follow up and tracking to completion. * Ensure compliance with Operational Risk policy & procedures. * Work closely with Market Risk Regulatory & Governance Analyst on the alignment between the ORF and the Prudential Compliance Framework
Strategy * Support the strategic plan for Financial Markets and SCB Group with respect to UK PRA regulatory requirements and Operational Risk requirements * Support the MTCR Regulatory Affairs and Market Risk Capital team in the annual audit of Market Risk Governance. In particular, where audit findings require updates to the ORF, assist with the closure of audit points. Business * Support the strategic intent and collective agenda for Market & Traded Credit Risk Management. * Support the Function's capabilities, skills and infrastructure to meet ongoing business needs and plans with respect to market risk capital and regulatory requirements. * Provide risk information/updates to Operational Risk Committee / FM PGC as appropriate. Processes * Continuously improve the operational efficiency and effectiveness of Market & Traded Credit Risk processes. * Identify processes with potential for high operational risk, with the aim of improving these processes and controls to reduce the residual risk. People and Talent * Uphold and reinforce the independence of the Function from those whose primary responsibility is to maximise short-term revenues and profits. * Lead through example and support the appropriate culture and values within the Function and across the wider organisation.
Key Stakeholders Internal - Global Head, Market & Traded Credit Risk and direct reports (incl. Chair, OpEx Forum) - Head, Operational Risk, Financial Markets - Head of Risk Reporting & Management Information - Head of Regulatory Reporting - Head of Market Risk Analytics - Group Treasury - Group Internal Audit External - Prudential Regulation Authority (PRA) - The Group's external auditors
Qualifications and Skills
KNOWLEDGE AND SKILLS: Market Knowledge: Experience in the banking industry, including demonstrated success in a similar role. Some knowledge related to Market and Traded Credit Risk is desirable, with in depth knowledge and experience of Operational Risk.
Business Strategy and Model: Ability to appreciate the wider context, spot key risks & potential implications, and identify appropriate controls to mitigate risks. Experience of spotting linkages and understanding the connections between processes.
Risk Management and Control: Demonstrated ability to understand the potential operational risks associated with processes, with experience of designing and implementing suitable controls to effectively manage such risks. Well-organised and able to co-ordinate input from others. Expertise in process design and control.
Regulatory Framework and Requirements: Awareness and understanding of the regulatory framework in which the firm operates, and how this feeds into the control environment. Awareness of regulatory concepts such as market risk capital requirements, Risk Weighted Assets (RWAs), stress testing.
Non-technical Skills: Significant relationship management experience - with external stakeholders at the most senior levels. Strong communication skills, excellent interpersonal skills and multi-cultural awareness and sensitivity.
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