The Risk Oversight Unit (ROU) is a small but high profile team that is responsible for the design, implementation and ongoing management of the Bank’s Risk Management Framework.  The Framework is designed to ensure that the Bank manages business risk within agreed tolerances and that management has adequate information to take action to control and mitigate risk across the organisation.  The Unit co-ordinates the compilation and assessment of risk management information on risk across the Bank, and provides support to business areas in the application of effective risk management methods.

Reporting to the Head of the Risk Oversight Unit (ROU), the Risk Manager will be accountable for the design and implementation of an effective Bank-wide Risk Management Framework that is consistent, efficient and aligned with the Bank’s strategy and Core Purposes.

Job Description

Proactively develop and implement operational risk management concepts, methodologies and tools commensurate with the Bank’s risk profile and industry practice.

Develop and implement effective reporting requirements and processes for the identification and escalation of risks and incidents to the Bank’s Risk Committee that includes appropriate monitoring of actions to mitigate and control those risks.

As Risk Relationship Manager, provide support, guidance, assistance and challenge to selected business areas in applying the Bank’s risk methodologies, developing risk assessments, and ensuring that appropriate risk management actions are pursued in the Bank’s best interests.

Responsible for the development, implementation and continuous assessment of Bank-wide Operational Risk Standards (High Level Policies).

Support the Head of ROU in providing various briefings to the Audit Committee, Court and Deputy Governor, Monetary Policy in their responsibilities for risk management including the annual Turnbull Attestation.

Manage the Bank’s Corporate Insurance programme.

Represent the Bank in working groups designed to further the development of risk management practices amongst the community of central banks.

Skills/experience required 
 

A qualified risk professional with a solid understanding of operational risk in financial services institutions.

Experience in developing and implementing risk standards or methods across an organization in areas outside of the job holder’s direct line of accountability.

Good diplomatic and listening skills combined with an ability to provide effective constructive challenge so as to reach a collaborative solution in the Bank’s best overall interests.

Awareness of the major business and policy risk issues faced by Central Banks.

Experience of managing a firm’s Corporate Insurance programme.

An understanding of how effective risk management can enhance decision making, and contribute to business planning and budgeting for an organisation.

Strong communication and presentation skills, comfortable in working with the highest levels of senior management, including Bank of England Governors and Court members.

Closing date for applications is May 6th 2008.

To apply, please click here.