Job Title:	Director, Derivatives Risk & Control - London
Reference:	1075046
Salary:	£95k+
Location(s):	London
Industry(s):	Financial Services
Advertiser:	Hays - Accountancy & Finance
Employment Type:	Contract / Permenent
Posted:	03-02-2010

Description:

 
Job Purpose


This role is within Global Markets EMEA Operations and involves leading a team of 6 people managing the daily Operational Risk and Control function within Derivatives, FF&O,  Commodities and FX.  The Operational Risk and Control team are responsible for working in collaborative partnership with LOB Operations to monitor, improve and risk assess the control environment.
 
Key Responsibilities
 
·        Perform risk assessments of key product and processing groups within Operations.
·        Analysis, oversight, and escalation of all breaks and performance risk indicators.
·        Supervision of work load and priorities to manage daily risk and control tasks and ensure that standards for accuracy and timeliness are met.
·        Participate in the audit planning process, understand concerns raised, review mitigation plans and provide follow up for timely resolution.
·        Perform SOX quarterly attestation and review process for all key controls identified.
·        Work with line management to identify Operational Risk incidents and provide timely reporting into the Incident reporting database.  Review follow up actions items for completeness and ensure actions are incorporated into daily control processes.
·        Identify, monitor and track resolution of key risk identified including environmental risks.
·        Produce monthly MIS reporting for Operational Risk and Control functioning including both qualitative and quantitative analysis.
·        Monitor and review balance sheet substantiation and monthly provisioning process.
·        Maintain and regularly test Business Continuity Plans, participate in market wide Business Continuity initiatives.
·        Coordinate New Product Review process and represent LOB at various product Risk Forums.
·        Perform regulatory transaction reporting quarterly testing and provide LOB representation at Transaction Reporting Oversight Group.
·        Create an environment that supports and recognises continuous process improvement.
·         Responsible for the setting of and review of performance objectives for direct reports. 
·         Responsible for providing guidance in documenting training and development plan for direct reports.
·         Develop and sustain a culture of teamwork and collective achievement of departmental goals and objectives.


 
Competencies:
·         Must have excellent attention to detail.
·         Extensive knowledge of operational processes within Derivatives.
·         Strong control Operational Risk Management background.
·         Dynamic, positive and resourceful. 
·         Knowledge of financial, accounting principles and regulations governing Global Market activities.
·         Proven people leadership skills and hands-on line management experience.
·         Ability to communicate effectively (both oral and written).
·         Confidence in escalation and reporting to management.
·         Self-motivated and pro-active approach to problem resolution.
·         Ability to successfully react to workload changes and business demands.
·         Ability to work well under pressure with deadlines and conflicting priorities.
·         Ability to communicate clearly to team members, management and internal partners from other functions.

Knowledge and skills:
·         Complete understanding of reconciliation and operational risk and controls.
·         Strong management and planning skills.
·         Good product knowledge and understanding of Global Markets businesses.
·         Local industry qualifications relevant to Operations and Operational Risk
·         Degree or 10 years relevant Operations experience.
·         Process improvement/Six Sigma experience desirable.