Work type: Full-Time Employment

Work location: Barbados (In Office/On-Site)

Job Summary/

Primary Role Objective:

Our client, a leader in the financial services sector, is seeking a strategic Manager, Operational Risk to join their dynamic Risk and Compliance team. This critical role, reporting directly to the Chief Risk and Compliance Officer is responsible for the implementation and execution of the operational risk management framework across the Group of Companies.

The Manager, Operational Risk will lead a team of Risk Officers and Risk Assistants, focusing on effective risk identification, measurement, monitoring, and reporting while ensuring alignment with the organisation’s strategic objectives and compliance requirements. The Manager, Operational Risk will also develop and implement an effective communication strategy to foster a culture of risk management within the Group. The ideal candidate will have strong banking industry knowledge, excellent analytical and communication skills, and a deep understanding of financial services regulations and risk management.

Key Responsibilities:

1. Business Development and Strategy Execution:

• Assist the Chief Risk and Compliance Officer in developing and communicating the Group and/or entity Risk Appetite statement.
• Collaborate with business lines to ensure effective governance and control over operational risk in alignment with the Group’s risk appetite, policies, and procedures.
• Develop strong partnerships with senior management to facilitate compliance with operational risk management requirements.

2. Risk Advisory and Reporting:

• Act as the subject matter expert, providing guidance and direction on Operational Risk matters to enhance client confidence and relationship management.
• Prepare and distribute reports related to operational risk and compliance to relevant stakeholders.

3. Operations Management:

• Lead the development and implementation of mechanisms for effective identification, measurement, monitoring, and reporting of operational risk, including KPI reporting and analyses.
• Create and maintain Operational Risk Corporate Policies as required.
• Conduct gap analyses for operational risk to identify key areas for additional monitoring.
• Identify, assess, and report on the operational risk inherent in all material products, activities, policies, processes, and systems.

4. Human Resources and Team Management

• Manage, supervise, mentor, coach, and train employees under your remit, coordinating and evaluating their performance.
• Appraise subordinates bi-annually on objective, measurable performance; continually train and monitor employees’ job performance and service standards.

5. Compliance and Risk Management

• Assist the Chief Risk and Compliance Officer in the development, implementation, and execution of the Risk Management Framework with a focus on Operational Risk.
• Ensure integration of key requirements and practices as outlined in regulatory guidance.
• Identify and maintain remedial action plans to mitigate identified risks.
• In conjunction with the Chief Risk and Compliance Officer, develop and execute activities for Independent Review of operational risk across key functions.
• Assess the reasonableness and design of scenarios and assumptions used in operational risk stress testing; lead key activities surrounding operational risk stress testing.
• Assist in creating an effective communication strategy to promote a culture of risk management within the Group, ensuring the Risk Framework is consistently applied.

Requirements

Qualifications and Experience:

• Bachelor’s Degree in Banking and Finance or a related field
• A minimum of 5 years’ related experience managing operational and liquidity risk within a financial environment.
• Professional Certification in Risk Management (RIMS) or equivalent.
• A Master of Business Administration would be an asset.

Skills and Abilities:

• Ability to think strategically
• Excellent analytical skills
• High level of skill in utilising Microsoft Office suite of products
• High level of verbal and written communication skills
• Strong skills in building and maintaining positive working relationships
• Strong knowledge of the banking industry and regulatory guidelines

How to apply:

Apply at Jobs: Bridgetown Manager-Operational Risk Jobs – caribbeanjobs.com.

Deadline:

The deadline for submission of applications is Wednesday, October 30, 2024.

We thank all applicants for their interest.  However, only shortlisted candidates will be contacted.