A leading investment firm is seeking an Operational Risk Analyst to join their team in a newly created role.
The Operational Risk Analyst will play a pivotal role in identifying, assessing, monitoring, and mitigating operational risks while ensuring robust oversight of outsourcing arrangements. The role involves developing and maintaining frameworks to manage operational risks and third-party risks, ensuring compliance with regulatory requirements, and embedding operational resilience principles to protect critical business services.
The Operational Risk Analyst will report into the Head of Risk and work closely with various business units to promote a culture of risk awareness and ensure compliance with regulatory frameworks.
Key Duties & Responsibilities:
Operational Risk Management
- Maintain, implement and enhance the Operational Risk Management Framework
- Identify and assess operational risks across the organization, conducting comprehensive risk and control assessments across various business units and processes.
- Develop and maintain key risk indicators to monitor operational risk levels and prepare risk reports for relevant committees and the board.Analyze operational risk incidents to determine root causes and identify potential improvements, collaborating with business units to implement corrective actions.
- Perform scenario testing for the internal capital adequacy assessment
Operational Resilience:
- Develop and implement the organisation’s Operational Resilience Framework.
- Identify critical business services and map their dependencies, including third-party and technology interconnections.
- Perform impact tolerance assessments to determine the organization’s ability to absorb shocks and recover quickly.
- Perform scenario testing for operational disruptions and evaluate the effectiveness of resilience measures.
Outsourcing Oversight:
- Develop and maintain the outsourcing oversight framework in line with regulatory requirements.
- Conduct due diligence on third-party providers during onboarding and ongoing reviews.
- Monitor outsourcing arrangements to ensure adherence to service-level agreements, risk mitigation and performance standards.
- Maintain a comprehensive outsourcing register and facilitate regulatory reporting for outsourcing activities.
Continuous Improvement:
- Stay updated on industry trends, best practices, and regulatory changes related to operational risk management.
- Suggest enhancements to existing risk management processes and tools.
The role requires:
- Bachelor’s degree in Finance, Risk Management, Business Administration, or a related field. A relevant professional risk certification (e.g., FRM, CRM) is a plus.
- Proven experience in operational risk, operational resilience, or a related area within financial services.
- Strong understanding of regulatory frameworks, including DORA, CBI Outsourcing Guidelines, and operational resilience requirements.
- Experience in conducting risk assessments, scenario testing, and vendor due diligence.
- Strong analytical and problem-solving skills.
- Excellent communication and interpersonal abilities, including stakeholder management.
