JOB SUMMARY

This role covers a range of risk, compliance and control activities within the risk management team designed to identify and mitigate operational risk within the DMO and provide assurance that both existing business and new initiatives are being carried out in accordance with good practice and in line with agreed policies and procedures. One of the main responsibilities is following up risk incidents to ensure that root causes are identified and encouraging team leaders to put mitigations in place to avoid reoccurrence.
It is envisaged that this role would suit candidates with an academic background who can demonstrate a genuine interest in pursuing a career in risk management. Previous experience in a similar role is not essential however all candidates will require excellent communication skills, be well-organised and have a strong work ethic in order to be successful in this busy team.
The DMO is committed to supporting learning and development. Full training will be available to the successful candidate.
The jobholder will be a member of the Operational Risk team, which consists of a team of four. The Operational Risk team form part of the overall Risk team, which includes Credit & Market Risk and Legal functions. The functions report directly to the Head of Risk.
The Operational Risk team is central to reducing risk, through second line-of-defence risk management. The team has a visible standing in the organisation with all key stakeholders. The team is friendly and supportive. There is a collaborative approach to achieving the teams’ objectives.

TECHNICAL SKILLS

We’ll assess you against these technical skills during the selection process:

• MS Office experience including Excel

NATIONALITY REQUIREMENTS

This job is broadly open to the following groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements

MAIN RESPONSIBILITIES

Once fully trained, the successful candidate will be expected to be involved in the following areas:

• Risk Reporting: includes quarterly meetings with the business teams on risk status; monthly collating/investigation/ recording of incidents and follow-up checks on completion of mitigating actions; monthly progress of audit treatment actions. Regular and ad-hoc risk investigation and analysis and activities to raise risk and controls awareness, particularly at team leader level.

  Following up risk incidents to ensure that root causes are identified and encouraging team leaders to put mitigations in place to avoid reoccurrence.

• Carrying out regular compliance testing in relation to trading activity, investigating and reporting of exceptions as necessary.

• Present reports and be an active member of the Operational Risk Committee.
• Controls Group coordination, advising project managers of areas to prepare for and taking an active role in review and challenge of new initiatives.
• Various administrative/team functions including secretarial duties for both the Operational Risk Committee and the Controls Group, auction compliance duties, policy reviews and ad-hoc papers/data analysis as required.