Head of Operational Risk

Reporting directly to the Chief Risk Officer, the Head of Operational Risk will be responsible for the operational risk management function of the MeDirect Bank Malta and MeDirect Bank Belgium. The Head of Operational Risk will assist the CRO in identifying, assessing, monitoring, managing and reporting on the Bank’s operational risks.

Malta * Full-time

Duties and responsibilities

  • Heading the Operational Risk Management function of the Group and of its entities MeDirect Bank Malta and MeDirect Bank Belgium s.a. / n.v. (in short, “the Group and its Entities”)
  • Responsible for leading and driving the team to further strengthen the operational risk management framework of the Group and its Entities
  • Owning and driving the process of embedding the Operational Risk framework throughout the business areas of the Group and its Entities, and contributing to the risk and control culture of the organisation through knowledge sharing and awareness
  • Organising and facilitating workshops across the Group and its Entities for mapping of key business processes, the identification and assessment of inherent business risks and controls
  • Taking a lead role in the completion of the annual Risk and Control Self Assessment (RCSA) exercise of the Group and its Entities; perform operational risk control assurance testing as required
  • Recommending and implementing improvements to the RCSA process to support the maintenance of a robust control environment across the Group and its Entities
  • Monitoring progress of action plans to improve the risk and control environment arising from risk assessments, risk monitoring, internal and external audits and regulatory inspections across the Group and its Entities
  • Ensuring business continuity plans remain fit for purpose and organise tests to ensure the control environment is appropriate
  • Conducting business impact analysis and risk assessment to identify critical business functions within the Group and its Entities
  • Reviewing and assessing potential risks associated with new products and processes within the Group and its Entities
  • Developing and establishing Key Risk Indicators, and tracking and reporting this dashboard of metrics to the management team and the Board of the Group and its Entities
  • Overseeing all Operational risks including management information, key risks and trends, reporting to the CRO, the Executive Committee, the Board of Directors and regulatory bodies of the Group and its Entities
  • Producing scheduled and ad hoc risk reports to specific stakeholders and present the information where required
  • Leading the yearly Internal Control Report process (based on RCSAs, facilitated and challenged by Operational Risk) of MeDirect Bank Belgium s.a. / n.v.  along NBB’s requirements
  • Owning all Operational Risk policies within the Group and its Entities and ensure standards meet regulatory requirements
  • Ensuring oversight of risk controls are in place and are available to all interested parties in the Group and its Entities with updates appropriately controlled and audited
  • Ensuring effectiveness of major incident recovery and testing is undertaken periodically within the Group and its Entities
  • Leading operational risk awareness programmes by proactively communicating emerging risks, policies and frameworks, including training within the Group and its Entities

Required knowledge, skills and experience

  • Master’s or Bachelor’s degree or equivalent by experience
  • 10+ years of relevant work experience in the area of operational risk management in a financial institution
  • Proven experience in setting up risk assessment methodologies and in performing and/or facilitating RCSAs
  • Strong verbal and written communication skills in English, including the ability to articulate ideas and views to all levels of an organisation
  • Excellent interpersonal skills: be able to work in a team environment, but also be comfortable with working independently, with a good deal of autonomy and self-initiative
  • Demonstrate personal integrity, honesty, reliability, respect and commitment
    Willing to travel occasionally within Europe

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