Head of First Line Risk
4 weeks ago
Job Description
Job Purpose:
This role is the First Line counterpart of the Country Chief Risk Officer Drive the development of a strong Risk culture and Control environment in the country. To ensure an appropriate and effective control environment within all Front Office and Support activities but, specifically:The identification of all financial and non-financial risks introduced into FABThe introduction and embedding of appropriate and effective risk mitigants to ensure that the inherent risk profile remains within the agreed risk appetite. To oversee the production of timely, relevant and complete management information which will enable the Country Management to assess the effectiveness of their respective control functions in relation to their individual regulatorily prescribed’ and allocated responsibilities. Work closely with the 2nd Line of Defense to support further embedding and maturity of the 3 Lines of Defense model and evolve a robust ‘Risk and Compliance’ culture across the 1 Line of Defense. Drive business head risk owners in the embedding of a comprehensive Conduct Risk framework to enable the identification, mitigation, management and reporting of Conduct Risk; and Drive clarity and collaboration across both the first and second lines of defense by introducing unified MI and systems that encourage and drive best practice. Execute all actions required based on relevant internal and external audits and work with the business for timely closure of Audit issues.Key Accountabilities:
Ownership of the branch’s control framework to deliver reduced risk of non-financial control breaches, incorporating cross-functional supervision of non-financial risks (both operational and conduct related) within the First Line of Defense, to deliver: Enhanced governance – the framework must enable the assessment of effectiveness of controls across front office businesses.Control framework optimization – the framework must deliver simplification and delineation of control responsibilities across each front office business, streamline the control design and simplify reporting models.Improved responsiveness – pro-active management and execution of the control framework to meet the review and reporting requirements of the Branch and any individuals who may be held accountable for the business and associated risks by the relevant Regulators. The production and provision of independent MIS and reports that support and enable the branch senior management to assess the appropriateness and effectiveness of their respective operational control environment. Oversees and coordinates the timely and effective production by the Business Heads and Support Units of the annual ‘Risk Control Self-Assessments’ (RCSAs) and ‘Business Risk Assessments’ (BRAs). Oversee the production by the Business heads of any ‘New Product’ approval requests to ensurethey align to the Branch’s ‘New Product Policy’;
Work with Business Heads for the development and implementation of department policies, procedures and controls covering all areas of the business Be proactive - prepared to ‘get involved’ and ‘roll the sleeves up’ to make things happen.
Qualifications
A degree in one of the following disciplines (preferred):FinanceBusiness Management/Administration or Accounting More than 15 years working experience in a financial institution Previous experience in a driving the development and maintenance of a control environment role in a financial services organization is desirable. The candidate will need to demonstrate:Leadership capability to influence and drive senior stakeholders to establish appropriate risk norms and strong control environment.Understanding of what an effective operational control environment looks like and experience in developing / managing an appropriate reporting framework Strong verbal and written communication skillsStrong interpersonal skills and the ability to navigate through a ‘functions led’ organization at all levelsAttention to detail and a well-organized approach to workThe ability to priorities work and perform well under pressureAn analytical approach to problem-solvingProven stakeholder management capabilitiesCapability to manage through influence and the confidence to provide support and challenge to Senior Management and EXCO members Integrity and discretion when handling confidential informationAbility to manage, coach and develop team membersAt all times, demonstrate behaviors consistent with our corporate values of:Customer FirstKnowledgeableEnterprisingCollaborativeTrusted-
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