Operational Risk Officer Operational Risk Officer …

Rothschild & Co
in London, England, United Kingdom
Permanent, Full time
Last application, 20 Feb 20
Competitive
Rothschild & Co
in London, England, United Kingdom
Permanent, Full time
Last application, 20 Feb 20
Competitive
Rothschild & Co is one of the world’s largest independent financial advisory groups. We provide M&A, strategy and financing advice, as well as investment and wealth management solutions to large institutions, families, individuals and governments, worldwide.

Rothschild & Co

Rothschild & Co is one of the world’s largest independent financial advisory groups. We provide M&A, strategy and financing advice, as well as investment and wealth management solutions to large institutions, families, individuals and governments, worldwide.

Having been at the centre of the world's financial markets for over 200 years, we can rely on an unrivalled global network of trusted professionals and decision makers.  This means that we have in-depth market intelligence, bringing us closer to current issues than any other global financial institution.

Our 3,800 talented employees spread across in 50 offices around the world have a strong track record of outstanding execution in three business lines: Global Advisory, Private Wealth and Asset Management, and Merchant Banking.

It is this combination of scale, local knowledge and intellectual capital that allows us to provide a distinct perspective and effective long-term solutions for our partners.

Rothschild & Co Wealth Management (“WMUK”)

At Rothschild & Co Wealth Management we offer an objective long-term perspective on investing, structuring and safeguarding assets, to preserve and grow our clients’ wealth.

We provide a comprehensive range of private wealth services to some of the world’s wealthiest and most successful families, entrepreneurs, foundations and charities. In an environment where short-term thinking often dominates, our long-term perspective sets us apart. We believe preservation-first is the right approach to managing wealth.

Overview of Role

  • Provide assurance and oversight of all operational risks; identify and assess areas which might give rise to other conduct, financial, regulatory or reputational risks
  • Implement the Group and Divisional risk management framework; contribute to the improvement of that framework where appropriate
  • Work in partnership with other second line assurance functions, both within the Wealth Management division and across the Rothschild & Co Group
  • Drive forward productivity and working smarter initiatives in the risk landscape
  • Maintain professional external network to understand risks facing the industry generally and leverage this for the firm in order that appropriate plans can be developed

Responsibilities

Operational control and oversight

  • Promoting a controlled operating risk environment, offering support to the risk owners and departments on practices and processes to mitigate operational risks
  • Undertake periodic reviews of current business landscape to identify changes to the risk profile and new operational risks
  • Investigate and report on, with recommendations, key operational risk issues identified, maintaining a proportionate response and ensuring commercial awareness is maintained
  • Maintain policies and procedures across WMUK with specific focus to operational risk
  • Provide a training schedule to the wider business on operational risk awareness
  • Provide risk assessments on new products and change initiatives to ensure all key risks have been identified and managed
  • Assist with the monitoring of outsourcing arrangements and undertake periodic reviews of the performance and control effectiveness of the outsourcing providers
  • Act as the local DLP coordinator, addressing incidents of data leakages detected by the DLP system

Risk framework

  • Contribute to the WM Division’s Operational risk function by mapping risks across WMUK and designing (or, where appropriate, improving) the risk framework to identify, monitor and implement controls to mitigate those risks
  • Administer the regular control and risk owner sign off process (RCSA), ensuring that all sign-offs are completed and reviewing the output with WM Divisional Operational Risk
  • Advise business and operational functions on risk-related issues and advocate the risk perspective in decisions made by the business

Operational risk events

  • Undertake the investigation and analysis of WMUK risk events and actively contribute/champion business or process changes required.  Oversee the tracking of agreed actions to completion
  • Participate in the periodic Wealth Management Operational Risk meetings, escalate as appropriate to Head of Risk and Governance

Management Information

  • Contribute to the setting and tracking of KRIs and ensuring adequate reporting of all key operational risks
  • Develop and produce periodic WMUK Risk report
  • Undertake periodic monitoring of the top risks for the business on a regular basis

Audit tracking

  • Track and follow up on closing all Audit points (Internal or external).
  • Summarize status to the Head of Risk and Governance or such other fora as appropriate

Skills and Qualifications Required

  • Compliance, business control/risk, operational risk or audit background, or comparable first-line of defence experience, with exposure to Asset Management or Wealth Management; preference will be given to candidates with experience in the business, i.e., first-line of defence roles (e.g., operations or change management professionals
  • Demonstrably excellent written and verbal communication skills are essential; ability to produce draft policies and/or improve existing policies for clarity of purpose and expression and with a view to the practicalities of implementation
  • Proven ability to understand, identify, analyse and communicate clearly the operational risks within a process; ability to recommend appropriate and proportionate improvements to a process to mitigate the risks identified
  • Direct experience in collaboratively working with the business, either support functions or front office, preferably both; ability to independently and appropriately challenge business and operational functions and across varying levels of seniority
  • Exhibit strong communication and interpersonal skills and be comfortable interacting with personnel at all levels of seniority throughout the business
  • Experience in undertaking live operational risk incident investigations, providing guidance and resolution; experience in drawing upon legal/regulatory principles (treating customers fairly, conduct risk, etc.) in solving practical problems
  • Thorough understanding of the Wealth and Investment Management business and the environment it operates within; ability to assess the materiality and significance of issues arising in the context of the business

 

 

 

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