Chief Risk Officer – SMF4

Quantitative Risk and Finance
Published
28th February 2019
Location
London, United Kingdom
Job Type
Permanent
Salary
Competitive

Description

Our client, a UK Subsidiary Retail and Commercial Bank are searching for a new Chief Risk Officer in London.

Reporting to the CEO, the Chief Risk Officer is accountable for the Bank's day to day risk management in line with the Risk Governance Framework, and the Board Approved Risk Appetite Framework while providing oversight to the Bank's systems and controls.

Chief Risk Officer should:

  • Ensure that the data used by the firm to assess its risks are fit for purpose in terms of quality, quantity and breadth;
  • Provide oversight and challenge of the firm's systems and controls in respect of risk management;
  • Provide oversight and validation of the firm's external reporting of risk;
  • Ensure the adequacy of risk information, risk analysis and risk training provided to members of the firm's governing body;
  • Report to the firm's governing body on the firm's risk exposures relative to its risk appetite and tolerance, and the extent to which the risks inherent in any proposed business strategy and plans are consistent with the governing body's risk appetite and tolerance. The Chief Risk Officer should also alert the firm's governing body to and provide challenge on, any business strategy or plans that exceed the firm's risk appetite and tolerance; and
  • Provide risk-focused advice and information into the setting and individual application of the firm's remuneration policy

Responsibilities related to Business and Risk Strategy

  • Guide the Board and Senior Management in the execution of their risk management responsibilities
  • Provide a risk-focused viewpoint to strategic planning and other activities of the Board and Senior Management
  • Study, analyse and report on risk related trends and key elements of regulation that may impact the Bank's business
  • Alert the Board, and provide challenge on, any business strategy or plans that are outside the Bank's risk appetite.

Responsibilities related to Risk Assessment, Management and Control

  • Maintenance of a RGF in line with the Bank's size, business model and operational complexity
  • Review the Risk Management Framework, policies and procedures at least annually
  • Provide risk management oversight and ensure the bank is safe and sound
  • Assess capacity and capability of the Bank's systems and controls
  • Provide guidance to improve systems, policies, processes and management tools as needed
  • Ensure that the risk function is appropriately resourced
  • Review and challenge new products from a risk perspective

Responsibilities related to Risk Analysis

  • Develop a Risk inventory and Risk register
  • Responsible for formulation/review, in consultation with the CEO, of the Credit Policy, Credit Manual, Asset Classification & Provisioning Policy, Collateral Management Policy & Risk Governance Framework
  • Responsible for review of ICAAP and ILAAP
  • Leading the response on regulatory queries vis a vis the Risk Management Framework upon CEO request
  • Leading the Risk & Control Self-Assessment (RCSA) across the bank
  • Ensure that risk related models and methodologies are appropriate for bank's use and are reviewed and validated on a periodic basis
  • Oversee the Operational Risk Management Framework
  • Monitor, control and escalate limits and policy breaches
  • Capital and liquidity stress testing
  • Development / regular upkeep of scoring/rating and other risk models
  • Approval of Scoring/Rating of all eligible advances

Reporting and communication responsibilities

  • Ensure accuracy and completeness of risk reports and their submission
  • Report to the Board Risk Committee on risk exposures relative to its risk appetite and ensure the adequacy of risk information, analysis and training provided to members of the Board
  • Maintain proactive communication with regulators, in consultation with the CEO
  • Escalate where appropriate key risk concerns directly to the Chairman of the Board Risk Committee
  • Communicate relevant risk issues to the Group CRO
  • Member of EXCO, ALCO, Chair of CROC and RCC. Also, invitee to the BRC, BACC and the Board.
  • Reporting exceptions in the daily/weekly/monthly reports to the CEO

For any more information please contact ryannorquoy@bsmgroup.com

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