Head of Operational & Climate Risk Head of Operational & Climate Risk …

VTB Capital
in London, United Kingdom
Permanent, Full time
Last application, 20 Oct 20
VTB Capital
in London, United Kingdom
Permanent, Full time
Last application, 20 Oct 20
VTB Capital
Job Title: Head of Operational & Climate Risk Corporate Title: Director Business Unit: Risk Management Reporting to: Head of Risk Location: London

The Position

The purpose of this role is to manage the ongoing development of the Operational Risk and Climate Risk frameworks and methodologies across VTB Capital PLC (including Singapore branch), in order to support VTB Capital in achieving its business objectives in a risk aware manner, and in compliance with regulatory requirements.


The role is to develop and implement operational risk and climate risk policies, procedures and education, in order to identify, assess, monitor, mitigate and report operational risks and climate risk exposures within VTB Capital PLC to the relevant governance bodies, thereby enabling senior management to take any required corrective or strategic actions. The role also ensures that VTB Capital PLC complies with Group Operational Risk management standards, providing support both to the Head of Global Operational Risk and Group Risk in the development and rollout of Group Risk methodology and infrastructure. The Operational & Climate Risk team in VTB Capital PLC consists of a single Head of Operational & Climate Risk supported by Operational Risk Champions embedded within each department.  It forms part of the Bank’s Risk Management Department along with Market, Credit and Quantitative Risk teams.         


Principal Responsibilities

The Head of Operational & Climate Risk is responsible for overseeing the implementation of VTBC operational and climate risk framework in the following entities:


VTB Capital PLC (including Singapore Branch)


  1. Management of Operational Risk Framework for VTB Capital PLC

Ensure key operational risks across VTB Capital PLC are identified, assessed, monitored and mitigated on a timely and objective basis. Ensure risk event reports are timely, accurate and include relevant remedial actions. Ensure completion of strategic risk assessments with associated KRI development and risk mitigating action plans. Provide regular management information on operational risk to Risk governance committees and senior management to provide a full understanding of the operational risk status and enable the appropriate actions to be taken. Ensure timely and quality operational risk input into regulatory reporting (eg, ICAAP, CRD IV). Perform scenario analysis and Reverse Stress Testing.        




  1. Management of Climate Risk Framework for VTB Capital PLC

The Board has delegated day to day climate-related risk management and monitoring to PLC Risk Department under the oversight of the appointed Senior Manager.  This includes the following:

  1. Updating the Climate Risk Policy and Framework to include the latest regulatory requirements
  2. Undertake climate scenario analysis and stress testing for transition and physical risks
  3. Monitoring performance against climate-related metrics, goals and targets
  4. Updating climate-related disclosures in the Annual Report
  5. Prepare climate-related management information and reporting to the Board Risk Committee
  6. Ensure training is provided to all staff through annual online training


  1. New product and new business development 

Review and assess new product requests, highlighting any operational risks and performing post implementation reviews to assess any post go-live operational issues.


  1. Ensure Operational Risk best practice is adopted within VTB Capital PLC

As a regular attendee of the VTB Capital PLC risk committee, operations and controls committee and new business forum, ensure and promote operational risk best practice through clear articulation of the policies and methodology and maintaining an effective internal relationship network with key stakeholders. Ensure Operational Risk training is provided to all staff through annual online training. Maintain up to date knowledge of Group Risk requirements and external regulatory changes and their impact on Operational Risk management, in order to ensure risk processes are compliant with these requirements. Remain updated with industry wide developments and best practice through participation in industry forums (eg. AFB).    


  1. Provision of cover for Head of Global Operational Risk

To provide cover for the Head of Global Operational Risk for annual leave and other absences, including attendance and presentation at appropriate committees. 




Key Competencies & Qualifications

  • Academic degree or relevant equivalent working experience in Operational & Climate Risk Management in a managerial capacity 
  • Strong technical knowledge in operational and climate risk frameworks and experience of framework design and implementation
  • Strong knowledge of financial products
  • Strong interpersonal and relationship building skills
  • Excellent communication and leadership skills   
  • Proactive, well-motivated self-starter, able to perform responsibilities with minimal guidance
  • Excellent report writing skills
  • Capable of addressing and resolving issues, achieving consensus as required.





Typical Decisions taken by Job Holder

  • Provide guidance and instruction to departmental operational risk champions to ensure Operational Risk best practice is adopted within VTB Capital PLC
  • Determining the validity of a reportable risk event and the originating department when there are disputes.
  • Validating the content of risk event reports.
  • Escalation of overdue risk event reports
  • Assessment of operational risk in the introduction of new products


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