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Trainee - Operational Risk Management

Company not shown
United Kingdom  London, United Kingdom
Internship, Management, English

Job Description:

Description of the Business Line or Department
The UK/EMEA Chief Controls office (CCO), part of LOD1, accompanies SG UK / EMEA management in the development and transformation of its business whilst ensuring non-financial risks are appropriately identified and managed operationally, with a focus:
* Transversal risks management (BCM, Cyber, Outsourcing) for the platform
* Operational Security Management (OSM) functions for GBSU UK (IT, OPER, CLD, COOE functions)
* LOD1 project coordination (e.g. Permanent Control Transformation, Operational resilience) on a transversal basis for the UK and/or EMEA wholesale banking platform
In the UK for SGIL, LOD1 control functions are provided by CCO as a service under the governance and accountability of SGIL management.
Within CCO, the Governance, Risk and Controls team is specifically in charge of:
* Dedicated operational risk management support of GBSU, assisting operational teams in the definition and the setup of their operational and managerial supervision control framework and ensuring that this framework is in adequacy with the risks identified on the concerned perimeter;
* Day-to-day identification, investigation, response / remediation and reporting on key non-financial risks through appropriate channels (incl. op risk systems) and with escalation to relevant stakeholders (e.g. LOD2, senior management);
* Analysis, monitoring and reporting of the results of the managerial supervision controls (evaluations, anomalies and action plans) to senior management and relevant governance fora;
* Co-ordination with other risk specialists (outside of CCO/UK e.g. MARK/NCG UK, head-office operational risk management functions), to support the delivery of appropriate permanent controls measures;
* Coordination of Risk and Control Self-Assessments (RCSA), mapping of Activities, Processes, Risks and Controls (APRC), deployment of the Library of Normative Controls (LNC), and similar activities within GBSU; and
* Preparing and facilitating GBSU's Operational & Conduct Risk committee (OCR), and supporting GBSU's input into SGLB's own non-financial risk governance, supporting deep dives on GBSU-relevant risk topics, transformation activities and regulatory engagement.
* Support operational risk management for the SGIL entity under the direction of SGIL's CBCO (as a service provider).
* Support EMEA region operational risk management activities with a focus on governance, incl. preparation of regular oversight committees, working with local COOs / local OSM teams and GBSU regional management (COO UK/EMEA and Deputy in charge of EMEA regional scope).
Within GRC, Operational Security Managers (OSMs) are the 1st Line of Defence (1LoD) entry point on all matters relating to operational risk management - the present role focuses on GBSU (i.e. Operations, CLD, IT, Facilities/Procurement).
Geographical coverage:
* The role is UK focused
Business Coverage: focus on GBSU in the UK (SGLB, SGIL) and on supporting 12 EMEA locations
Reporting lines: The role reports to the Head of GRC; the Head of GRC reports to the Head of CCO UK/EMEA.
Summary of the key purposes of the role
The OSM (Operational Security Management) team provides 1st Line of Defence expert knowledge and support in the management, oversight, and first level challenge of operational risk across functions. The role is to ensure that GBSU operates within the confines of Group level and local directives on Operational Risk Management, Internal Control (as per PCT programme requirements), and Compliance.
Key objectives - GBSU OSM trainee
* Provide operational support to OSMs in the day to day management of OSM deliveries, focusing on GBSU's identification, assessment, recording & mitigation of operational risk.
* Support OSMs in the oversight and first level challenge of all operational risk related topics, including but not limited to: RCSA process; incident management; Internal Capital Adequacy Process (for entities where this is relevant); KRI reporting; process reviews, outsourcing risk reviews, action plan completion, including CTL and IGAD finding/recommendation progress tracking.
* Support the production of operational risk governance packs to be presented to key senior stakeholders.
* Participate to the implementation and maintenance of the first level (operational) control framework as well as of the supervisory control framework within GBSU (OPER, CLD, IT, COO).
* Recording of operational incidents within the Group's internal incident management platform, and their subsequent handling / management in line with appropriate procedures.
* Assist OSMs and LoD1 managers in addressing queries from 2LoD in relation to non-financial risk management, and collaborate on incident management matters and investigations (as per relevant thresholds).
Summary of responsibilities
Ensure adequate running of the operational risk framework:
* Support OSMs in the day-to-day OSM tasks for GBSU (SGLB, SGIL) and EMEA OSM supervisor on EMEA OSM coordination and regional governance topics.
* Support OSMs in providing oversight and first level challenge of all operational risk related topics (GBSU-focus).
* Preparation of operational risk governance packs to key senior stakeholders (GBSU-focus).
* Support the maintenance and enhancement of the first level control framework (GBSU-focus).
* Support OSMs in challenging GBSU stakeholders on the quality of their operational risk reporting (GBSU focus)
* Support the effective and, where needed, consistent roll-out of projects & ad-hoc tasks e.g. RCSA, PCT, Outsourcing risk reviews (GBSU, with potential support for EMEA).
* Ensure capture of operational errors & incidents and use of relevant risk event collection processes/tool(s) (GBSU).
* Ensure action plans are developed and implemented, with appropriate ownership and achievable deadlines (GBSU)
* Assist in ad-hoc projects or initiatives of the CCO/UK department, as directed by Senior OSMs, Head of GRC, Head of CCO UK/EMEA and, potentially, EMEA OSM supervisor (GBSU, EMEA).
* Support reporting to GBSU management, UK senior management & Paris-based GBSU/RMO on any ad hoc risk issues (GBSU).
* Contribute proactively to KRI initiatives, incl. helping to improve data quality and avoidance of duplication (GBSU)

Candidate Requirements:

* Ability to identify operational risk issues, to summarise them effectively, to escalate in an appropriate/timely manner.
* Ability to establish strong interpersonal skills; confident communication skills; Strong written skills.
* Excellent coordination skills (multi-tasking essential).
* Ability to develop an understanding of GBIS activities in UK, ability to "deep dive" on operational processes and issues.
* Ability to develop an understanding of key appropriate regulations applicable to their perimeter and wholesale banking.
* Ability to work with a degree of autonomy and be responsible for following matters through to completion.
* Team player, must be able to step up and cover broader roles within a team environment

Source: Company website
Posted on: 04 Aug 2022
Type of job: Internship
Industry: Banking / Finance
Languages: English
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