Operational Risk - 2LoD

Company Description

Crown Agents Bank is a vastly growing and regulated UK bank that connects emerging and frontier markets to the rest of the world, using FX and payments technology. We are transforming the way payments and FX move through emerging markets, reducing friction so that more money gets to those who need it. Emerging markets payments are usually challenging, expensive, unreliable and opaque. Our solutions help fix these pain points. Ultimately, we connect traditionally hard-to-reach regions to global financial infrastructure, giving access to the best prices and the fastest, most reliable settlement.

FX and cross-border payments are often complex and expensive, especially when operating in emerging markets. Crown Agents Bank (CAB) wraps its deep and trusted relationships and strength of network around innovative digital capabilities, and cross-border transaction banking solutions to enable fintech, corporates, governments, development organisations and banks to move money to, from, and across often hard-to-reach markets.

Job Description

To provide 2LoD oversight, advice, challenge and independent assurance to CAB Payment Holdings Plc including Crown Agents Bank Ltd and its subsidiaries / branches (as required) in relation to Operational Risk with particular focus on 3rd party risk management, inter-group outsourcing arrangements, data management and protection, and New Product and Significant Change.

Role Responsibilities:

• To lead in the independent oversight of Operational Risk across the Chief Operating Office (COO) with focus on 3rd party risk management, inter-group outsourcing arrangements, data management and protection, and New Product and Significant Change.
• Supporting the Enterprise and Operational Risk Teams annual planning exercise whilst proactively leading on key initiatives within the COO function with limited supervision from the Head of.
• Provide robust oversight and challenge to allocated Risk and Control Self-Assessments (RCSA), Data Protection Impact Assessments (DPIA’s), Record of Processing Activities (RoPA), incidents, ICAAP scenarios, operational elements linked to Recovery and Resolution Planning and risk assessments performed as part of the New Product and Significant Change process with particular focus on third-party risk management including material and sub-outsourcing.  
• Support the Data Protection Officer (DPO) in discharging their responsibilities under the Data Protection Act and UK GDPR that includes on an annual basis lead the review the Record of Processing Activities (RoPA), privacy notices etc, with peers and 1LoD as required. Ensuring any outstanding audit findings are closed in a timely manner.
• Enhancing and standardising 2LoD owned risk policies and procedures to drive consistency between second line risk owners. Ensure these polices are understood, communicated and embedded and complied with across the Bank. This includes proactive horizon scanning of FCA, PRA and ICO regulatory developments, to ensure findings, changes etc., are adequately covered within the Banks risk Framework and applicable policies.
• Engagement with and training of (where applicable) of 1LoD to ensure policies and procedures adhere to developed standards and guidelines.
• Drive the relationship with the Banks GRC providers including oversight and development of the tool working collaboratively with the AVP.
• Supporting the preparation of risk committee and board papers, as required, including robust management of known audit, assurance and control weaknesses. Drive thematic reviews and provide 2LOD opinion papers, as required, to various committee.
• Support the enhancement of the Banks operational risk control assurance programme including the embedding of requirements of the 2024 Corporate Governance Code including working with other second line risk owners to develop a co-ordinated approach to assurance and controls testing across the business.
• Support the relationship with internal audit.
• Support the embedding of an effective risk culture, encourage risk awareness across the Bank and its activities.
• Provide specialist input in strategic planning, providing evaluation of risk and solutions in order to drive continuous improvement and better linkages between risk types.
• Managing material risk exposures and activities across the Bank in line with Board approved Risk Appetite and Tolerance Limits, framework, policies, procedures and other controls.

Stakeholder Management

• Working in partnership with the business to build effective business relationships, becoming the first point of call from a 2LoD perspective for strategic project engagements – early discussions.
• Provide support and guidance to junior members of the team to build their Enterprise Risk knowledge.
• Work collaboratively across the team to identify knowledge gaps, encourage open dialogue, offer support to one another with a view of working effectively to resolve issues in a proactive manner.

Qualifications

Experience:

• In-depth knowledge of the UK financial services and regulatory framework
• Several years of operational risk management experience at a senior level
• Exposure to outsourcing and critical third party risk management including cloud outsourcing
• Exposure to group structures including branch and subsidiary models

Skills:

• Extensive communication and influential skills, ability to provide constructive challenge
• Solutions driven mind-set
• Ability to take a risk assessed approach to BAU and strategic initiatives
• Capable of developing, enhancing and maintaining frameworks, policies, procedures and processes

Additional Information

• Hybrid working
• Contributory personal pension plan: - Minimum: Employee 2% and Employer 7%. Employer matches contributions in 1% increments to a maximum of: Employee 5% and Employer 10%
• Life Assurance – 4 times annual salary
• Group Income Protection
• Private Medical Insurance – this may include cover for partner and or children at company cost. Cover includes Optical, Dental and Audiology
• Discretionary Bonus
• Competitive Annual Leave
• 2 Volunteering Days
• Benefit Hub