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.
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)
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.
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:
Review and assess new product requests, highlighting any operational risks and performing post implementation reviews to assess any post go-live operational issues.
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).
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
Typical Decisions taken by Job Holder