Group Risk provides strong independent oversight and management of the Group`s credit, market and operational risk strategies. We have responsibility for credit risk management information, credit & market risk underwriting as well as strategic oversight and management of challenged portfolios. The purpose of the Division is to maintain a robust risk culture, in support of the Group`s strategic goals, by ensuring that the appropriate structures, systems, policies and controls are in place to provide effective management of credit, market and operational risk. In delivering these objectives we aim to support the Group in optimising returns over the longer term on the Group`s risk assets through robust asset selection and management of risk.
Purpose of the Role
The role of Head of Operational Risk & Compliance has responsibility for Operational Risk, Regulatory Risk, Compliance Risk, Conduct Risk, Financial Crime and Regulatory Relations. It also encompasses responsibility for the office of the Group Data Protection Officer, ensuring adequacy of resources, budgetary matters and ongoing support& development.
The purpose of the role holder is to:
- Lead the effective management of the Group`s Operational Risk and Compliance agenda
- Develop strategies to appropriately mitigate operational and compliance risks to support the Group in achieving its strategic objectives
- Provide expert advice and guidance to Senior Managers on all matters related to Operational , Regulatory, Compliance and Conduct Risk and have a key oversight role in relation to material subsidiaries, including BoI UK plc and NIAC
- Development and articulation of the Operational Risk, Regulatory and Compliance Risk Management Strategy and Framework for the Bank of Ireland Group, ensuring this is fit for purpose, meets industry benchmarks and regulatory expectations
- Driving the delivery of the strategy for the management of operational risk regulatory and compliance risk in the Group, including influencing the wider strategic change programmes
- Responsible for the Office of the Group Data Protection Officer and overseeing the strategy in relation to Data Protection, to enable the Group to meet its Data Protection obligations under the Regulations
- Responsible for building productive working relationships and securing co-operation with relevant Divisions/Functions/Business Units and Strategic Partners on all matters relating to Operational Risk, Regulatory and Compliance Risk
- Leading a culture of risk management and control across the Group, ensuring all employees have an awareness and appreciation of the importance of their operational risk and compliance responsibilities
- Responsible for the early identification of significant regulatory issues that could materially impact earnings or reputation risk, ensuring that the Organisation is perceived as professional, competent and responsive with high ethical standards
- Represent the Group at a Senior level with relevant stakeholders locally and globally
- Acting as a senior interface with Regulators, Rating Agencies and other key stakeholders as appropriate, participating in relevant committees, task forces and meeting fora
- Overseeing internal and external governance, regulatory and industry reporting requirements for Operational Risk and Compliance, including the Board Risk Committee, Central Bank of Ireland, Single Supervisory Mechanism and Banking Payments Federation Ireland
- Providing strong leadership and management oversight of direct and indirect reports and third parties, as applicable, to ensure execution of key priorities, in line with the Group`s Risk Framework
- Accountable for formulating and executing risk strategy consistent with our ambition to be a truly customer centric Organisation and consistent with the Group`s purpose and values
- Overseeing the Group`s efforts to address operational risk and compliance related audits, reviews, and examinations. Facilitating corrective actions as appropriate
- Providing Executive and Non-Executive decision makers with an understanding of the risk profile of the Bank, keeping them apprised on Operational Risk, Compliance and Regulatory matters so that they can effectively execute their executive responsibilities
- Ensuring that the Function has developed and implemented effective and efficient training programmes for business and support staff relating to compliance with applicable laws, regulations and internal policies and to reflect best practices expectations
- Facilitating high levels of employee engagement through an environment of learning, development and personal growth
- Acting as a role model of Operational Risk and Compliance culture across the Group
- Maintaining a continuous study of applicable laws, regulations, and industry best practice standards to ensure the Function and Group has an informed and up-to-date understanding of new and emerging requirements
- Proven track record as a Senior Manager with 15+ years at management level with previous experience as a senior manager across a selection of Operational Risk, Compliance and Business or relevant Control Functions
- Understanding of the key risks facing the Group and awareness of broader legal issues.
- Strong academic background with relevant primary degree/professional qualification
Essential Skills & Experience
- Well-developed technical and analytical skills combined with a deep understanding of regulatory requirements
- Considerable knowledge and experience of best practice risk management and governance frameworks, methodologies and emerging practices in relation to the Financial Services Industry
- Ability to provide intellectual rigour in challenging and guiding business decision-making
- Strategic orientation, founded on the ability to embrace business and people management objectives with strong commercial acumen
- Record of achievement of ambition with respect to the articulation and fulfilment of business vision and objectives
- Strong integrity with all levels of business and Operational Risk & Compliance policydevelopment, implementation and recommendations
- Excellent people management skills with a proven capacity to lead a large and diverse group of professionals
- Awareness of own and team`s development needs and ability to progress professionally and remain current
- Strong energy and drive with the desire to achieve superior performance
- Achieving Results
- Making Decisions
- Thinking Strategically
- Managing Change
This is a designated PCF 12 role under the Central Bank of Ireland Fitness and Probity legislation.
Bank of Ireland Group is an equal opportunities employer and is committed to fostering an inclusive workplace which values and benefits from the diversity of our workforce.
Where Agency assistance is required Bank of Ireland Recruitment Team will engage directly with suppliers. Unsolicited CVs / profiles supplied to Bank of Ireland by Recruitment Agencies will not be accepted for this role.
- Full UK/EU driving license preferred
- Car Preferred
- Cover Letter Required