Manager-Operational Risk
LCI Consulting Inc.
- Bridgetown
- Not disclosed
- Permanent full-time
- Updated 25/10/2024
- Human Resource
The Manager, Operational Risk will lead a team of Risk Officers and Risk Assistants, focusing on effective risk identification, measurement, monitoring, and reporting while ensuring alignment with the organisation’s strategic objectives and compliance requirements.
Title: Manager, Operational Risk
Organization: Confidential
Work type: Full Time Employment
Work location: Barbados (In Office/On Site)
Job Summary / Primary Role Objective:
The Manager, Operational Riskwill lead a team of Risk Officers and Risk Assistants, focusing on effective risk identification, measurement, monitoring, and reporting while ensuringalignment with the organisation’s strategic objectives and compliance requirements. The Manager,Operational Riskwill also develop and implement an effective communication strategy to foster a culture of risk management within the Group. The ideal candidate will have strong banking industry knowledge, excellent analytical and communication skills, and a deep understanding of financial services regulations and risk management.
Key Responsibilities:
Business Development and Strategy Execution:
Assist theChief Risk and Compliance Officerin developing and communicating the Group and/or entity Risk Appetite statement.
Collaborate with business lines to ensure effective governance and control over operational risk in alignment with the Group’s risk appetite, policies, and procedures.
Develop strong partnerships with senior management to facilitate compliance with operational risk management requirements.
Risk Advisory and Reporting:
Act as the subject matter expert, providing guidance and direction on Operational Risk matters to enhance client confidence and relationship management.
Prepare and distribute reports related to operational risk and compliance to relevant stakeholders.
Operations Management:
Lead the development and implementation of mechanisms for effective identification, measurement, monitoring, and reporting of operational risk, including KPI reporting and analyses.
Create and maintain Operational Risk Corporate Policies as required.
Conduct gap analyses for operational risk to identify key areas for additional monitoring.
Identify, assess, and report on the operational risk inherent in all material products, activities, policies, processes, and systems.
Human Resources and Team Management
Manage, supervise, mentor, coach, and train employees under your remit, coordinating and evaluating their performance.
Appraise subordinates bi-annually on objective, measurable performance; continually train and monitor employees' job performance and service standards.
Compliance and Risk Management
Assist the Chief Risk and Compliance Officer in the development, implementation, and execution of the Risk Management Framework with a focus on Operational Risk.
Ensure integration of key requirements and practices as outlined in regulatory guidance.
Identify and maintain remedial action plans to mitigate identified risks.
In conjunction with the Chief Risk and Compliance Officer, develop and execute activities for Independent Review of operational risk across key functions.
Assess the reasonableness and design of scenarios and assumptions used in operational risk stress testing; lead key activities surrounding operational risk stress testing.
Assist in creating an effective communication strategy to promote a culture of risk management within the Group, ensuring the Risk Framework is consistently applied.
Requirements
Qualifications and Experience:
Bachelor’s Degree in Banking and Financeor a related field
A minimum of 5 years’ related experience managing operational and liquidity risk within a financial environment.
Professional Certification in Risk Management (RIMS) or equivalent.
A Master of Business Administration would be an asset.
Skills and Abilities:
Ability to think strategically
Excellent analytical skills
High level of skill in utilising Microsoft Office suite of products
High level of verbal and written communication skills
Strong skills in building and maintaining positive working relationships
Strong knowledge of the banking industry and regulatory guidelines
Deadline:
The deadline for submission of applications is Wednesday October 30, 2024.