Head of Operational Risk Salary: c. £70,000 per annum (dependent upon experience) Hours: Full time - 35 hours Contract: Permanent Location: Hybrid (Head Office, West Bromwich) The West Brom are looking to recruit a Head of Operational Risk on a permanent contract. Reporting into the Chief Risk Officer, the post holder will be leading the Society’s Second Line of Defence risk function in providing proportionate oversight of First Line risk management to ensure that Operational Risks are effectively identified and managed within the Board approved Risk Appetites. The post holder will use their specialist knowledge of operational risk management, industry best practice and regulatory standards to lead and develop the Operational Risk team, and to ensure that best practice risk management principles are followed. In addition, contribute to the maintenance and development of the Society’s Operational Risk Management Frameworks. The role will include maintaining and developing a plan of oversight activity, which will include methods such as Risk & Control Assessments, Thematic Reviews and Control Testing, ensuring all activity is co-ordinated with Third Line assurance across the Operational Risk universe. You will present any details surrounding risk oversight data to the Executive Risk Committee and the Board Risk Committee. Key Responsibilities: Responsible for the design and implementation of the Society’s strategy to manage Operational Risk, including its framework and associated policies. Maintaining up to date knowledge of Operational Risk regulatory requirements & best practice and embedding these into our approach. Provide advice and guidance to the business on the application of the Policy to their business areas including core processes such as the management of risk events and risk registers. Review and challenge proposals presented to Executive Committees or equivalent to ensure that there has been adequate consideration of the regulatory requirements and particular focus on the Change and Digital Transformation programme. Report risk in an appropriate way for different audiences, for example, to a Board Risk Committee so they understand the most significant risks, to ExCo and Senior Leaders to ensure they are aware of risks relevant to their parts of the business and to individuals to understand their accountability for individual risks. Analyse and interpret a range of Management Information from departments (Risk Registers, Risk Events, Dispensations and Measurement reporting) as well as the operational risk management system. Lead on the delivery of Operational Risk related regulatory returns including COREP and Operational Risk inputs for the Internal Capital Adequacy Assessment Process (ICAAP). Develop and deliver the Second Line risk monitoring plan for the Operational Risk universe. Lead on the oversight of Operational Resilience using co-source arrangements where required. Lead 2LoD efforts in the oversight of the Society’s transformation agenda, including major business infrastructure changes. Skills and Experience Required: Previous experience of managing and leading a team of specialists. Detailed and broad understanding of the regulatory requirements that apply to a building society in relation to operational risks. Previous experience in retail banking/building society in a risk function, ideally specialising in operational risks. A strong understanding of Risk Management systems (e.g. Riskonnect) and a deep understanding of the Risk and Control Assessment Process. Being customer focused and able to apply the principles of risk management to customer focused risks. Excellent communication (written and verbal) and relationship management skills and able to facilitate workshops and chair meetings, demonstrating an ability to communicate effectively with anyone in any environment, e.g. able to translate complex / technical issues to meet the audience's competency level. Experience at presenting (written and verbal) to Executive and Board Committees. Well organised and able to prioritise workload in line with tight deadlines and work effectively under pressure. What’s in it for you? We wholeheartedly believe that our people are our greatest asset, that’s why in addition to your salary you will be rewarded with a wide range of other benefits: Generous annual leave starting at 25 days 8 bank holidays, (pro rata) Pension scheme where we will augment your contribution by 0.6% (Up to 10.6%) Social club membership – dozens of discounts available for a wide variety of family days out and events Performance related pay scheme Corporate health plan with the option to include family members Discounted travel cards Life assurance provided by the Society at 4 times your salary When we say our people are the West Brom’s biggest asset that doesn’t mean just viewing them as employees. We also recognise they have a life outside work, one that has responsibilities and rewards which the Society respects and supports in ways that aim to bring the best out of them. We operate flexible/hybrid working at our Head Office, our Recruitment team will be happy to share further details of this with you if you are interested in applying for a role. Why choose the West Brom? At the West Brom we appreciate that our employees are unique individuals with differing needs depending on their specific circumstances and stages in life. When we say our people are the West Brom’s biggest asset that doesn’t mean just viewing them as employees. We are proud of our heritage and absolutely believe that the West Brom is a great place to work. The West Brom are a Disability Leader employer and encourage disabled applicants and applicants from diverse backgrounds to apply. We will consider requests to make adjustments to our recruitment process and offer a guaranteed interview to disabled applicants meeting the essential criteria. Should you require assistance please do not hesitate to email careerswestbrom.co.uk. Check out our careers page to find out more about our culture, values and benefits. https://www.westbrom.co.uk/careers. If you share our values and our enthusiasm, then you will find a home at the West Brom. Do it today and click apply Please note – We reserve the right to withdraw our adverts earlier than the original published expiry date, therefore if you are interested please submit your application as soon as possible Head Office: 2 Providence Place West Bromwich B70 8AF. www.westbrom.co.uk The West Brom is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Register no. 104877. ‘the West Brom’ is a trading name of West Bromwich Building Society.