The function of the Senior Risk Officer is to assist in ensuring that the UK Risk Department meets its objectives as detailed above.
The Senior Risk Officer has the following responsibilities:
Set Standards and Best Practices
• Assist with ensuring risk policies set globally as well as locally are applied and adhered to
• Assist with in optimising systems and procedures to implement and monitor the adherence to the risk policies and appetite of the bank and other related procedures and guidelines
• Assist in ensuring that systems and procedures are effectively identifying, measuring, monitoring and controlling credit risk, as well as non-financial risks incurred by the bank
• Assist in evaluating risk management frameworks and the assessment and measurement of risk
• Assist with managing local risk processes to ensure an integrated approach, operational efficiency, effectiveness and the application of best practice
Monitor and assist with Management of the Risk Processes
• Assist with ensuring the existence of independent risk management processes and discipline and consistency with risk standards, policy and appetite
• Assist with monitoring control processes for financial and non-financial risks.
• Assist in identifying risk control weaknesses, report them and require corrective actions as necessary.
• Respond to or escalate recognised and potential risk issues to the appropriate persons as soon as they are discovered.
Monitor and Assist with Managing Risk Exposure Across AAB UK and ABF UK
• Analyse content of the (monthly) Risk and (quarterly) Enterprise Risk Management dashboards submitted by 1st and 2nd line risk owners
• Assist with the full embedment of the Risk Management Framework in the UK including all Operational Risk instruments
• Review and analyse Operational Risk Incidents reported to UK Risk and ensure they are captured within AGRC and reported to the UK Risk Committee
• Assist with monitoring operational risk regularly including participating in the completion of the country-wide annual Risk Self-Assessment (RSA) process
• Assist with Local and Entity Level Control Assessment requirements
• Assist in the preparation of a country-wide Strategic Risk Assessment (SRA) annually
• Participate in the preparation of a country-wide Risk Appetite Statement annually with quarterly reviews and updates as necessary and translate updates into the ERM reporting tool
• Facilitate the Change Risk Assessments process with the Change owners advising on Operational Risk issues and monitoring registration of evidence of mitigation to address risks registered during the assessment.
• Coordinate 2nd line assessment of new products and product reviews.
• Review credit proposals presented to the ECRO by the Transaction Banking Hub and approve within personal credit authority or make recommendations for approval.
Representation, Networking, and Knowledge Transfer
• Foster a transparent, risk conscious culture via the development and maintenance of a network of internal and external relationships.
• Provide transparency and internal visibility of the risk competence.
• Assist with internal risk management training offerings.