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Operational Risk Manager

Information About This Job

Job Title: Operational Risk Manager
Contract Type: Permanent
Location: Edinburgh
Contact Name: Ben Kinley
Contact Email:
Job Published: 10 months ago

Job Description

We are looking to hear from risk management professionals for an Edinburgh based role as an Operational Risk Manager within in a well known asset management firm.


About The Role

Operational Risk is one of the functions which is part of the Risk Function and includes Compliance and Investment Risk.

Reporting to a Senior Operational Risk Manager the primary purpose will be ensuring the team develops and successfully implements the operational risk framework making sure risks to the business are effectively identified, assessed and managed.  The Operational Risk Manager will be responsible for direct reports.


Key Responsibilities

  • To ensure members of the Operational Risk team understand clearly what is expected of them and are engaged and developed appropriately in their roles

  • To undertake core operational risk management processes when required:

    • Analysing risk event information, and supporting and challenging the business to devise and implement controls to mitigate the reoccurrence of risk events

    • Assisting risk owners with improvements and enhancements to the design of end to end processes and the robustness of the controls and to be proactive in promoting possible solutions to manage any residual risks

    • Providing insightful analysis and interpretation of risks and challenging the business units with the identification and management of operational risks and reporting on key operational risk issues and actions, as appropriate

    • Co-ordinating, supporting and challenging business units in the completion and update of RCSAs

    • Performing trend / root cause analysis on operational errors, identifying points of failure, followed by pragmatic advice and rigorous follow through in strengthening controls to prevent reoccurrence

    • Undertaking ‘deep dive’ reviews of significant risk events and including attending risk event meetings, producing meeting summaries and following up with the business to ensure actions are completed

    • Reviewing key risk indicators for coverage and effectiveness, identifying, red and/or amber conditions and ‘path to green’ actions

    • Escalate key risk themes, issues, and areas of concern to Senior Operational Risk Managers and local management

  • Contribute to the delivery of Operational Risk Pillar II ICAAP activities

  • Provide credible challenge to senior managers (locally and across the branch network) to make risk informed key business and strategy decisions

  • Contribute to the delivery of risk management information for use by a number of stakeholders including the Board, clients and external bodies

  • Create, maintain and develop positive working relationships with all stakeholders, internal and external, to support the achievement of key outcomes, including representing Operational Risk at key ad-hoc/project meetings

  • Liaise with Business Lines to ensure successful embedment of the operational risk framework and embed a positive risk culture 

  • Keep up to date with regulatory requirements and industry best practice in operational risk management

  • Develop relationships within the business and provide advice, support and challenge to ensure embedment of the operational risk framework


Key Relationships

  • Legal entities, branch networks, regional and global Risk Management teams

  • Lines of business management

  • Internal Audit, Compliance, Quantitative and Risk Reporting


Skills & Experience

  • Excellent practical understanding and experience of operational risk management and framework and with strong commercial awareness

  • Communication experience with a range of stakeholders and strong stakeholder management skills, with ability to influence others and to challenge without being confrontational, adapting their approach to the audience and circumstances

  • Strong verbal and written communication skills

  • High attention to detail, excellent problem-solving and analytical abilities

  • Sound knowledge of Asset Management

  • Excellent organisational skills, ability to ensure deadlines are met and can effectively prioritise team workload


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