Operational Risk Associate

  • Competitive
  • London, England, United Kingdom
  • Permanent, Full time
  • Commonwealth Bank of Australia (UK)
  • 27 Sep 16

An exciting new opportunity has become available in the London office of Institutional Banking & Markets (IB&M) at the Commonwealth Bank of Australia. CBA has been building and growing partnerships in Europe since 1913. Today, the European operations support the Group by providing a link to an important economic region, in addition to diversifying our earnings, funding, customer and market concentrations.

Our objective is to proactively drive and strengthen the risk management culture within IB&M, with a specific focus on the London branch.  As a Line 1 risk subject matter expert, you will be responsible for building and maintaining a framework to facilitate a strong risk management culture within the Client Coverage Group.

As a Line 1 Risk subject matter expert, your responsibilities will include:

Expertise: Developing an in depth understanding of key risks associated with the IB&M International business, the IB&M risk appetite and how existing (and potential new) controls, processes and procedures could help minimise or mitigate the impact of these risks.

Governance & Assurance: Co-ordination of the London branch Risk Governance Committee. 

Risk Culture: Work with subject matter experts to design and deliver risk related education programs and initiatives to familiarise London branch team members on risk identification and mitigation as well as their responsibilities and accountabilities.

Policy Framework Management: Embedding the organisational risk management framework (ORMF) within the IB&M international business.  This may involve the establishment of mechanisms/metrics such as Key Risk Indicators (KRIs), development of policies, procedures, guidance notes.

Risk Profiling: Proactive identification of control weakness/gaps within the IB&M operating model.  Capturing these weaknesses/gaps in RiskInSite, defining actions and managing to closure.

Incident & Issue Management: Ensure all risk related incidents are captured in RiskInSite, assigned timeframes, assigned a risk owner and managed to closure in accordance with risk management policies.

Analysis/Learnings: Develop an understanding of the underlying causes of identified risks and put in place controls and measures to remove or mitigate these risks.

Monitoring: Liaise with IB&M risk partners (Compliance, AML & Sanctions, Operations Risk) to regular review and monitor the regulatory environment and internal CBA controls to ensure that any updates or changes are reflected in our operating model and the Singapore branch is always up to date and compliant.

Your Skills and Experience:

  • A thorough understanding of the Institutional Banking/Corporate Banking environment and associated products
  • Knowledge of Regulatory Requirements 
  • Ability to analyse trends, identify critical threats and opportunities, diagnose problems and issues and then recommend appropriate actions dealing with the underlying root causes.
  • Strong stakeholder management skills, including an ability to clarify and work with resistance.
  • Proven influencing skills and ability to communicate with different levels of management and diverse stakeholder groups.
  • Proven experience in an Operational Risk environment

If you are interested in this opportunity and fill the requirements, please apply here submitting a copy of your CV. 

Closing date: Friday, 23 September 2016