Head of Operational Risk
Shawbrook is a specialist UK lending and savings bank founded in 2011 to serve the needs of SMEs and individuals in the UK with a range of lending and savings products.
We differentiate ourselves by concentrating on markets where our specialist knowledge and personalised approach to underwriting offer us a competitive advantage. This supports attractive stable returns and sustainable growth and benefits businesses and consumers in parts of the market which continue to be poorly served by traditional high street banks. Fundamental to our success is a relationship focus which puts the interests of our customers and business partners at the heart of everything we do, built on a culture which stresses the use of our experience and judgement to make decisions that balance risk, return and customer need.
We are looking for a Head of Operational Risk to join our growing business. As the Head of Operational Risk you will assume responsibility for the delivery of key group risk obligations including the embedding operational risk management programme, the operational risk requirements within the bank’s ICCAP, operational risk appetite and recovery plan and resolution pack plus being accountable to the enterprise risk director for the delivery of these key initiatives. The Head of Operational Risk will support the enterprise risk director in ensuring that the bank’s operational risk management framework is designed and operating effectively and evidenced through an effective enterprise risk management committee. You will also lead elements of the ERMC oversight of the operational risk profile.
- Ensure the operational risk function supports the bank’s customer facing areas in accurately identifying and managing operational risks that result in appropriate products and services being created and distributed through effective channels that consistently deliver a customer experience through secure and available systems which deliver fair customer outcomes.
Strategy and Planning
- Challenge and contribute to the development of short, medium and long-term strategies (including action plans and targets) for the operational risk function, in line with the defined vision, mission, risk appetite and objectives of the bank. Support the implementation for risk function once approved.
- Set and maintain robust standards and practice for regulatory compliance throughout the delivery of the operational risk function’s key obligations and initiatives dealing with any issues promptly and appropriately.
- Implement strong standards and practice in terms of conduct for staff and compliance with the PRA/FCA’s Statements of principles and code of practice.
Risk Management Framework
- Lead the delivery of the bank’s framework for operational risk management and control and is implemented effectively within the bank in line with the board’s risk appetite.
- Oversee the timely management of the group’s responses to 3rd line of defence monitoring and work with the banks 3 lines of defence to define specific measurable requirements.
- Owns the assessment of the risk function’s operational risk principal risk and how it is monitored, managed and controlled effectively and reported to the ERMC using appropriate internal controls aligned to board risk appetite.
- Develop the risk appetite statements for the level 2 operational risks for board approval and implementation.
- Own the design, implementation and follow-up of the risk self-assessment process (1st Line Defence) in coordination with all the business functions ensuring that they have systems and procedures set up to implement and monitor the adherence to risk policies through effective reviews.
- Provide effective leadership in delivering the operational risk function’s key obligations and initiatives in line with the bank’s leadership principles and values.
- Ensure adherence to the promotion of Shawbrook values and good behaviour, fostering respect for other staff members, coherence within the bank and a positive team spirit.
- Develop and lead an active, challenging and committed team for the delivery of the operational risk function’s key obligations and initiatives, managing performance against key deliverables including effective training and development activities in line with the bank’s T&C framework for staff to ensure the function has the appropriate knowledge and skills to operate effectively
Board / Corporate Governance / External Relationships
- Ensures activities operate in accordance with the bank’s policies around corporate governance.
- Ensure activities work effectively within their delegated authority and remit and are communicated to other risk colleagues and the bank’s committees
Experience & Qualification
- Holder of university degree (finance related) and/or the equivalent combination of education and experience. Appropriate professional qualification held
- Significant operational risk experience gained in both SME environments as well as large corporates within the financial services sector
- Strong capability in strategic thinking developing solutions and effective business planning
- Strong commercial and financial acumen
- Ability to operate effectively on operational committees
- Understanding of risk/compliance policies and processes for a financial services business
- Strong understanding of risk appetite and risk management frameworks
- Strong understanding of operational risk and level 2 operational risks.
- Strong understanding of compliance/regulatory requirements in financial services sector
- In depth knowledge of different types of operational risks, systems and processes including risk management frameworks, operational risk within the ICAAP and operational resilience.
- Ability to use appropriate risk/compliance/financial crime systems
- Working in partnership to achieve goals
- Demonstrating excellence, frankness, openness and transparency
- Developing people to support them to be the best that they can be
- Adopting the values and behaviours that exemplify the corporate culture
- Ability to develop strong working relationships with other heads of the risk function, direct reports and key stakeholders across the bank.
- Inspire respect, trust and commitment to business objectives with well-developed leadership and people management skills.
- Demonstrates sound business/professional judgement through strength of character, independence of thought risk awareness and good values and behaviours.
- Works well under pressure and can prioritise and manage multiple and complex projects simultaneously
- High levels of drive, energy and personal commitment to success.
- Creativity and innovation.
- Results orientated, holds self and others accountable.
- Ability to communicate effectively both orally and in writing with all levels of management, regulators, and committees.
- Strong influencing skills with the ability to package and present ideas and gain agreement at a senior management level.
This role is an SB2 within Shawbrook’s internal banding structure