VP, Credit & Market Risk Policy Oversight

  • GBP10000 - GBP60000 per annum
  • London, England, United Kingdom
  • Permanent, Full time
  • Charles Levick
  • 12 Aug 17

Leading global bank are looking for an experience Senior VP with strong Risk Management background (ideally across multiple disciplines, e.g. Risk, Credit, Market) with a strong Risk & Controls Policies basis, to act as a lead Policy influencer across the Corporate and Investment Banking business.

My client, a tier 1 investment bank is seeking a highly organised individual with proven drafting and document analysis/interpretation skills and the ability to demonstrate a practical application of a document and drive improvements in context of a framework and the business impacted to join their Risk department as a VP, Risk Oversight, Policy Oversight

Role Purpose

* Scope
I. Policies and Standards issued by 2nd line of defence ("LOD") Risk as defined under Enterprise Risk Management Framework, applicable to Risk functions reporting to the Chief Risk Officer ("CRO").
II. Procedures issued by Risk functions reporting to the CRO, in respect of any Policy in place.
* Within Risk Oversight (link here), the Policy Oversight function was created in 2017, with the purpose of driving quality, effectiveness and consistency across Risk Policies, Standards and Procedures. The role will encompass oversight at Group framework level to ensure accurate inclusion of businesses and entities in to the Scope. The role focus is a diverse and significant range of Risk-issued and Risk-impacting documentation with specific phases of delivery through flow and structural enhancement against global and regulatory contexts. Initial focus is Risk-owned policies, standards & procedures, ensuring detailed and structural review & challenge of documentation, working with stakeholders in the Risk teams for technical subject matter expertise, document owners and procedure/controls teams to ensure cohesive and practical approach from framework down to controls. The role will require a high level of attention to detail whilst applying a strong strategic and structural lens, considerable influencing of owner/stakeholders, using strong-expert level drafting and document analysis skills. The role encompasses analysis/commentary of some MI pertaining to the documentation and related breaches at a senior business level, including working with individual issues management teams to understand/influence risk trends against policy compliance.

Key Accountabilities

* Adherence to the Enterprise Risk Management Framework and to the Principal Risk Frameworks. Drive consistency of the policy framework, ensuring Policies, Standards & Procedures are clear, concise & practical. Challenge/influence change where appropriate.
* For Risk Policy framework owned by Risk: maintain governance oversight to annual policy and standard updates. Monitor and track timeliness and status of policies, standards and procedure reviews, initiate reviews and make initial updates against organizational and strategic framework requirements. Manage technical content updates via policy-writers/owners and ensure final approvals/publications.
* Own and maintain mappings between Policy and Standards. Ensure mappings between Standards (Key Controls) and Controls Assessments are being driven by the controls teams. Timely and appropriate follow up and escalation of trends or specific increased risks, including overdue items
* Review completeness and accuracy of framework inventory; engage owners accordingly. All in-Scope Policies and Standards to support senior management's oversight and governance of Risk.
* For all other Policy Frameworks: review all policies that impact Risk, contribute to robust and effective challenge, ensuring appropriate Risk stakeholder groups are engaged for expert technical review. Escalate increased risk trends.
* Innovate structural enhancements to the procedures and control environment working with 1LOD/2LOD; Group and BI teams to develop the clear connectivity from Framework down to controls/procedures
* Oversee revisions to Risk policies, standards and Risk procedures. Provide oversight to optimise quality, consistency and practical application of drafting. Act as a key contact for core functions across all lines of defence. Coordinate challenge and represent, if necessary, the Risk user teams. Drive Risk procedures interrelation with Standards and Controls
* For Risk, provide oversight for the Chief Risk Officer to Defaults, Waivers, Breaches: Monitor and track management of DWBs of Policy and Standards, working with individual controls/issues management teams to assess trends, challenges to resolution or risk of overdues. Identify and escalate increased risk trends as appropriate and drive optimal outcomes across Risk
* Manage impacts arising from the integration of the businesses into the Group and framework to ensure consistency. Provide framework level, structural and drafting subject matter expertise to key stakeholders. Review and challenge proposals, provide solutions as appropriate. Play a key leadership role in driving a cohesive approach and outcomes at and Group level
* Prepare and deliver MI and trend analysis or reports to Risk & Controls Committee and senior stakeholders on topics managed within the role
* Act as central point of reference for management of the team's document sharing tools
* Stakeholder management and leadership

Person Specification
Essential:
* Proven very strong or expert-level business language (written and verbal) with proven drafting and document analysis/interpretation skills.
* Able to demonstrate a practical application of a document and drive improvements in context of a framework and the business impacted
* Strong experience and proven track record across a range of risk or control disciplines
* Strong risk or control mindset, with a clear understanding of the application of governance and control structures
* Capability to provide robust and balanced independent challenge
* Experience of developing procedures or policy or governance frameworks and driving effective change either for strategic initiatives or for ad-hoc issues