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Operational Risk-Associate

Gurgaon, HR
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  • Banking & Finance
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Job Details

RBS operates a Three Lines of Defence risk management model, where the independent Second Line is accountable for owning and developing the risk and control frameworks and tools, which the First Line uses to discharge its responsibilities. The Second Line is accountable for overseeing and challenging the First Line on the effective management of its risks. Externally, the role of the Second Line is pivotal from a regulator perspective, and influences how for example the Prudential Regulation Authority and Financial Conduct Authority assesses and perceives the conduct and risk culture within firms.Part of the Second line of Defence, Operational Risk (OR) at RBS is responsible for undertaking a leadership role with business areas to provide forward looking, value adding capability to achieve a robust risk management culture, which includes maintaining an Operational Risk Management Framework (ORMF) that enables the consistent identification, assessment, management, monitoring and reporting of operational risk.The role is responsible for supporting the design, development, delivery and maintenance of the OR framework for the Bank to execute key Second Line of Defence activities; in particular, providing a consistent approach to the assurance of OR Policy Chapters, encompassing data capture / quality control, investigation, reporting & analysis, per the key responsibilities detailed below.Interacting with business-facing 2LOD Operational Risk teams on the validation of first line of defence (1LOD) compliance with identified minimum standards; and ensuring clear, simple, quick and consistent communication with relevant OR teams to meet key regulatory and internal reporting and deadlines, including escalation of non-compliance exceptions.In addition, the role holder must apply and continually develop subject matter knowledge, especially with regards to RDAR, ORMF, the OR Policy Chapters, and key elements of the OR toolkit, such as the Operational Risk Directory, Causal and Product Catalogues, Impact Classification Matrix, and Risk & Control Assessments.The role holder will be responsible forRisk based assurance activity necessary to evidence and improve 1LOD compliance with OR Policy Chapters, together with the identification of gaps and exceptions; completing associated activities to remediate / reduce the materiality of these gaps, and improve the quality of data captured. Ensuring outcomes are value-add to the end user and test definitions are clear and fit for purpose.Taking all appropriate action to ensure the capture, and on-going management, of OR Policy Chapter related data on ORBIT is sufficiently robust to support its use as a key risk management tool for both internal and external regulatory insights and reporting.Working with business facing risk teams to ensure full adoption of the Banks OR Policy Chapter methodologies, resulting in a consistent approach to all OR Policy activities.Interacting with the central policy-owning teams & business facing risk teams on the validation of events / associated impacts resulting from OR Policy aligned activities.To liaise with various stakeholders (including Risk Infrastructure, Risk Solutions) as required for effective analysis.Provide key stakeholders (various 2LOD teams) with relevant MI and reports, maintain a central repository for MI and reports; and undertake analysis along with sample sets, test reports, assurance reports in-line with the policy assurance framework, with identification of key themes that may emerge overtime.To adhere to minimum standards reporting for the risk framework while performing management information reports & analysis. Implement consistent risk reporting requirements for customer facing businesses, committees and the Board.The role holder will also support in the following function s key deliverablesCompliance with regulatory requirements relative to OR Policy Chapters, where appropriate. For example, through accurate and timely provision of loss data insight reports.Providing support as required to the central OR Policy Owners to respond to OR Policy queries from the businesses.Whilst no formal line management responsibilities exist, the role holder will support in providing day-to-day coaching and management of more junior staff.Customer ExpectationsMeeting and exceeding customer and stakeholder expectationsReputation Build, safeguard and uphold the reputation of RBS Group across all stakeholders investors, public, staff, clients, etc.Risk, Efficiency and ControlSetting clear goals, internal controls, risk management, business efficiency, improvement and effectivenessRisk ManagementComplies with relevant policies, testing and certifying (or considers and escalates) the adequacy and effectiveness of the controls on an agreed basis.Establishes and documents (or follows and/or maintains) operating procedures which include relevant controls to meet Bank and local policy requirements. Line of DefenceThe second line of defence is responsible for oversight and development of a robust risk and controls framework as well as providing assurance of the established Policies and controls.Actively consider the inherent, material risks of the business/ organisation. They should analyse the risk profile and seek confirmation that the risks are being appropriately identified, assessed and mitigated to the desirable level. Develop and embed robust risk and control frameworks which meet the strategic needs of the group, including communication, training and awareness.Conduct suitable assurance to evidence 1LOD compliance with policies/ responsibilities.Provide senior executives and relevant risk committees (e.g. OREC) with appropriate MI and reports, including escalating concerns where appropriate. Risk CultureSet the tone by promoting appropriate business and risk aware behaviours and requiring compliance with all statutory and regulatory requirements and RBS Group policiesConduct RiskTo be accountable for ensuring you understand, uphold and promote the Conduct risk standard pillarsEmployee ConductCorporate ConductMarket ConductConduct towards our customersOperating Disciplines and Controls Support the establishment and maintenance of operations, controls, risk assessments and assurance programmes together with the monitoring of risk and controls to identify, assess and manage any material risks which may arise in relation to the operation of ELDM. Experience What previous experience is required for the role?EssentialDesirable4+ years of working in a Global Bank with broad knowledge of the financial services operational landscape.Experience of managing relationships and communicating with Businesses and Functions across a variety of issues; with evidence of ability to add value to these issues.Ability to work to tight deadlines and manage a number of conflicting and frequently changing priorities.Knowledge of OR management processes.Experience of assessing; managing; and reporting operational risks. Technical Capabilities What are the specific skills, knowledge and abilities required for the role?EssentialDesirableProfessional oral and written communication skills (English)Skills in Microsoft products (Excel, Word, PowerPoint)Numerate with proven analytical skills (including root cause analysis)Understanding of Operational risk , and risk in general, and its role in a financial organisationAnalytical with ability to critically assess business and technical controls for their effectivenessAbility to derive meaning from analysis and communicate to stakeholders including business audience.Knowledge of regulatory requirements with respect to Operational Risk (e.g. Basel II and Sarbanes Oxley 404).
Additional Degree: BA (Arts) | B.Com. (Commerce) | B.Pharm. (Pharmacy) | B.Plan. (Planning) | B.Sc. (Science) | BBA/ BBM/ BBS | BCA (Computer Application) | Diploma-Other Diploma | B.Ed. (Education) | BHM (Hotel Management)

Experience: 4-8


Finance/Budgeting | Financial Analysis
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