Operational Risk Manager, Wealth Management

Description du poste:

About Us

Rothschild & Co is a leading global financial services group with seven generations of family control and a history of over 200 years at the centre of the world's financial markets.

Our expertise, intellectual capital and global network enable us to provide a distinct perspective that makes a meaningful difference to our clients, communities and planet.

We have 4,600 talented specialists on the ground in over 40 countries around the world, enabling us to deliver a unique global perspective across four market-leading business divisions - Global Advisory, Wealth Management, Asset Management and Five Arrows.

As a family-controlled business built on relationships, we place a huge emphasis on our people and finding the right colleagues to take our business forward.

Rothschild & Co is committed to an inclusive and supportive environment where different perspectives are valued. We are focused on the attraction and recruitment, development and retention and progression of high calibre talent to ensure we and our clients benefit from the value of difference.

Rothschild & Co Wealth Management ("WMUK")

At Rothschild & Co Wealth Management we offer an objective long-term perspective on investing, structuring and safeguarding assets, to preserve and grow our clients' wealth.

We provide a comprehensive range of private wealth services to some of the world's wealthiest and most successful families, entrepreneurs, foundations and charities. In an environment where short-term thinking often dominates, our long-term perspective sets us apart. We believe preservation-first is the right approach to managing wealth.

Role Purpose

The Operational Risk Manager acts as a trusted second line risk partner to the business, providing independent oversight, challenge and advice on operational risks. The role is responsible for supporting the effective operation and continuous enhancement of the Risk Management Framework, with a particular focus on Infrastructure and support functions (including the COO Office, UK Operations, IT Applications and Third-Party Vendor Oversight).

The role plays a key part in ensuring that operational risks are appropriately identified, assessed, managed and reported, in line with internal risk appetite, regulatory expectations and good industry practice.

Overview of Role

WMUK operates the Three Lines Model, with the WMUK Risk function positioned in the second line, independent of the business.

The Operational Risk Manager will:
* Provide assurance and oversight of operational risks within defined areas of responsibility
* Identify and assess risks that may give rise to conduct, financial, regulatory or reputational impacts
* Ensure operational risk practices align with relevant regulatory expectations, including FCA requirements relating to governance, operational resilience, outsourcing and control frameworks.
* Implement the Group and Divisional risk management framework; contribute to the improvement of that framework where appropriate
* Work in partnership with other second line assurance functions, both within the Wealth Management division and across the Rothschild & Co Group

* Maintain an external professional network to remain informed of emerging industry risks and regulatory developments, leveraging this insight for the benefit of the business

Responsibilities

Risk framework
* Support the continuous development and enhancement of the Risk Management Framework and embed the core risk principles and behaviors across the business
* Within assigned areas of responsibility, assume ownership for the following key risk management activities:
* Risk Appetite Statement (RAS) - Support executive risk owners in the ongoing monitoring, review and challenge of risk appetite
* Principal Risk Assessment (PRA) - Lead the periodic review and assessment of principal risks, including the identification and assessment of emerging risks
* Risk & Control Assessment (RCA) - Lead the assessment process and provide scrutiny and challenge to the first line assessments, management actions and proposed risk acceptances
* Risk Maturity Assessment - Advise the business in determining target state of risk maturity and the identification and agreement of action plans
* Provide independent advice and effective challenge on risk-related matters, influencing senior decision-making and advocating a proportionate risk perspective in business decisions

Operational control and oversight
* Promoting a well-controlled operating environment, offering support and guidance to risk owners on practices and processes to mitigate operational risks
* Undertake periodic reviews of business areas and practices to identify changes, both current and emerging, to the risk profile
* Investigate and report on, with recommendations, key operational risk issues identified, maintaining a proportionate response and ensuring commercial awareness
* Maintain risk policies and procedures across WMUK with specific focus to operational risk
* Contribute to the creation and delivery of risk training and awareness to the wider business
* Lead the risk oversight arrangements of outsourced and intra-group activities, and undertake periodic reviews of the performance and control effectiveness of the outsourcing providers

Operational risk events
* Support the business in the investigation and analysis of material risk events, advocate for business or process changes required and oversee the tracking of agreed actions to completion
* Provide root cause and trend analysis on risk events to the first line to identify themes and focus areas

Management Information
* Contribute to the setting, tracking and reporting of Key Risk Indicators and Key Control Indicators
* Contribute to the development and production of periodic risk reporting

Audit tracking
* Track and follow up on closing all Audit points (Internal or external).
* Summarise status to the Head of Risk or such other fora as appropriate

Skills and Qualifications Required
* Proven operational risk and/or audit experience, ideally within Wealth Management, Asset Management or a comparable regulated financial services environment
* Experience in implementing or operating within a mature risk framework, particularly
* Demonstrable experience overseeing operational risk in business operations and/or technology
* Strong communication and interpersonal skills and be comfortable interacting with personnel at all levels of seniority throughout the business
* Proven ability to understand, identify, analyse and communicate clearly the operational risks within processes; demonstrably excellent written and verbal communication skills are essential
* Ability to produce draft policies and/or improve existing policies for clarity of purpose and expression and with a view to the practicalities of implementation
* Ability to independently and appropriately challenge business and operational functions across varying levels of seniority
* An understanding of the Wealth and Investment Management business and the environment it operates within is desirable
* Ability to assess the materiality and significance of issues arising in the context of the business