Senior Risk Manager

Job Description

Overall Purpose of the Role This is a second line of defence role, supporting the CRO in the oversight, monitoring and challenge of financial and prudential risks at the bank, so it can meet its regulatory and legal requirements.  The job-holder will support the development and implementation of a comprehensive and proportionate risk management framework, ensuring the right balance between risk and reward and that the culture of risk awareness is aligned with Charity Bank’s risk appetite and values. The role will provide effective risk challenge to the business and communicate clearly to key stakeholders on the bank’s risk profile, helping to ensure that risk and internal audit arrangements meet regulatory expectations. This is a new role at the bank so the role-holder will have some scope to shape and develop the role.   Dimensions of the Role ·         The role sits within the second line of defence (Risk oversight) with particular focus on financial, prudential, market and operational risk. ·         The role-holder may be asked to deputise for the CRO when required. ·         The role has no direct reports at present, but this may change if the Risk team expands. ·         Internal contacts: most departments but in particular Finance, Treasury, Savings and Credit; Chairs of Audit Committee (AuditCo) and Risk Committee (RiskCo) ·         External contacts: PRA, FCA, internal audit and other professional advisers as required. ·         The role-holder will be expected to attend the Asset & Liability Committee (ALCo) and may be asked to attend and present at other committees such as Executive Committee (ExCo), RiskCo, AuditCo and Board.   Other Requirements ·         Work within and promote the bank’s policies and good risk management practices. ·         Occasional requirements for long/unsociable hours may be required to meet business or regulatory deadlines.   Key Accountabilities   Risk Strategy ·         Develop and embed a strong risk vision, culture and strategy for Charity Bank, integrating risk management into the policies, processes and culture of Charity Bank. ·         Identify and support proportionate risk-taking opportunities, while monitoring Charity Bank’s internal control environment to ensure it remains appropriately designed and resourced for the nature, scale and complexity of its business activities.  ·         Regularly review Charity Bank’s risk management framework to ensure that it meets business requirements, that arrangements are in place for the identification, assessment, quantification, mitigation and reporting of risks across the business and that it is compliant with prevailing regulatory standards. ·         Assist in setting and monitoring of risk appetites, thresholds and limits. Implement effective risk reporting to management, Board and Board committees to evidence compliance with risk appetite, reporting on any exceptions on a timely basis. ·         Work with the CRO to ensure risk assurance arrangements are in place and are appropriate, effective and in line with the three lines of defence risk model. ·         Review business strategy and initiatives in the context of agreed risk appetite and tolerance, providing appropriate challenge.   Financial & Operational Risk ·         Ensure appropriate quantitative methodologies for risk are in place across the bank for key prudential risks, including credit, liquidity/treasury and market/interest rate risk. ·         Ensure appropriate stress and scenario testing is undertaken and consistent with regulatory expectations for the markets and environment in which the bank operates. ·         Provide oversight and, where appropriate, challenge of the liquidity/interest rate risk policies owned by the CFO. ·         In conjunction with the relevant departments, undertake second line reviews of the ICAAP, ILAAP, Recovery Plan, Solvent Exit Analysis, Resolution Pack, and other regulatory documents as required, providing input, challenge and oversight to their production. ·         Oversee the co-ordination, analysis and reporting of operational risk, including the review of department risk registers, and the management of risk events, incidents and associated actions. ·         Support the CRO and the front-line on identifying and managing the financial risks arising from climate change. ·         Oversee the management of the Model Risk Policy including monitoring, reporting and, where applicable, validation of models. ·         Support the oversight of operational resilience, outsourcing/third party risk management and change risk.   Other ·         Keep up to date with prevailing PRA and FCA regulatory requirements and, where appropriate, respond to questionnaires and Consultation Papers ensuring that the business is taking action to adapt to the changing regulatory landscape. ·         Monitor the effectiveness of regulatory reporting processes, ensuring that arrangements are in place to deliver regulatory returns, advices, notifications and applications accurately and within the required deadlines. ·         Support the CRO in developing a good working relationship with the PRA supervision team and promote an open and effective working relationship with the PRA, FCA and other regulatory bodies as required. ·         Work with the CRO, Chair of the Audit Committee and the outsourced Internal Audit function to agree, oversee and monitor the delivery of an appropriate annual internal audit plan. ·         Support the CRO on ad hoc projects.  PERSON PROFILE                                                                                                                           Experience §  Substantial experience in risk management within a UK regulated banking environment, including developing and delivering banking risk management frameworks, and providing effective second line oversight, management and challenge of financial, prudential, market and operational risks. §  Excellent knowledge of PRA/FCA rules and guidance and experience of liaising effectively with the regulator. §  Knowledge of other risk management including operational resilience, outsourcing/third party risk management and climate risk would be advantageous.   Skills §  An ability to deliver results and outcomes. §  Excellent numeracy and attention to detail. §  Strong people-management skills: able to deliver against plans by influencing, leading, empowering and developing others. §  Ability to initiate and manage change. §  Display sound judgement and political awareness. §  Pragmatic approach while maintaining risk standards. §  Able to manage competing priorities and balance stakeholder interests with regulatory and risk considerations. §  Computer literate and IT aware. §  Excellent presentational skills and effective verbal/written communication skills, including the ability to clearly communicate complex risk matters. §  Strong analytical skills, including critical review of financial statements, budgets, business plans and financial models. §  Critical thinking and problem-solving skills. §  Ability to work on own initiative and as part of a team. Knowledge §  Understanding of the needs of and issues facing social sector organisations/the third sector. §  Understanding of banking operational processes, governance and regulatory reporting requirements.  Disposition & Thinking Style §  Supports the principles of equality of opportunity, showing respect for diversity and differences. §  High degree of personal integrity and ability to engender trust. §  Flexible and adaptable, with ability to acquire new skills and respond effectively to changing regulatory expectations. §  Driven, tenacious, and solutions focused. §  Discretion, confidence and resilience. §  Excited by the opportunity to work for a values-based bank. §  Enthusiasm for promoting the mission and values of Charity Bank.