Risk Oversight Control Officer
The Risk & Control Officer (RCO) reports to the UK Head of Process & Control (UK P&C).
There are separate Head Office P&C organisations, supporting Corporate Banking (CB), Wealth Management (WM) & Retail Banking (RB) business lines. Within these business lines there are also specific P&C / Business Control functions in Global Markets, Asset Based Finance & Clearing as well as some present in other second line of defense departments. They are all driven by the bank-wide strategic pillars Sustainability, Reinventing the Customer Experience and becoming a Future Proof Bank. The P&C functions supports the bank’s strategic pillars by ensuring maximum control, efficiency, business relief and transparency.
The mission of UK P&C is aligned to the mission of Head Office Process & Control (HO P&C) to safeguard the banks license to operate and optimally control and support the daily operations as well as the strategic journey across CB & WM.
UK P&C are responsible for identifying and delivering improvement proposals for possible strategic change within the risk framework and for its implementation in the first line. It is the centre of expertise for first line risk control topics and applies an integrated approach to the knowledge and execution needed to facilitate the business ambitions of both CB & WM, thus freeing up as much time and resources as possible for the direct benefit of the client relation.
The UK P&C function is responsible for ensuring that those senior staff who are appointed as Senior Manager Functions under the UK Regulatory Senior Managers & Certification Regime (SMCR), have the required information to be able to discharge their duties and demonstrate reasonable steps to the Financial Conduct Authority (FCA).
The RCO will assume delegated risk ownership and provide expertise on strengthening ORM first line responsibilities and co-ordinate with second line (Operational Risk) on training and instruction of risk control requirements and risk assessments. The ownership of the risk control framework remains with 2LoD.
The RCO will be responsible for securing the UK Branches License to Operate by ensuring that the UK business lines have their ‘House in Order’. The incumbent will be required to take ownership of risk and control related issues and provide regular reporting and MI. They will also be accountable for oversight of all UK non-financial risks and responsible for supporting the 1st line of defense in BAU execution of change.
The RCO will be expected to provide expert input and support the business lines in change activities both in relation to regulatory changes as well as implementation of any identified remediation fixes required to further strengthen the control framework.
The RCO will contribute to ensuring demonstrable adherence to policies relating to license to operate activities. This will be achieved in close cooperation with the UK Executive Committee members, first line commercial staff, local and Head Office Compliance and the UK P&C team by providing regular MI, holding meetings, challenging the accountable business heads from a subject matter expert perspective on relevant topics, and other related tasks.
The RCO will primarily support the ABN AMRO Bank N.V, UK Branch (AAB UK) activities as well as give additional support when required to the ABN AMRO Asset Based Finance N.V., UK Branch (ABF), collectively the UK Branches. This is to ensure that the UK Branches operate in an efficient and coordinated way to eliminate duplication of effort.
In addition, the RCO will ensure continuous dialogue between the relevant Head Office teams liaising on a regular basis to ensure adequate insight into activities being performed at Head Office, which have a direct relevance to the UK Branches, to allow Senior Managers in the UK to effectively meet their regulatory obligations.
The RCO will take responsibility in the 1st line of defense for defining effective, relevant and complete:
• Risk Self Assessments (RSAs)
• Risk Dashboards
• Systemic Integrity Risk Analysis (SIRA)
• Financial Crime Fraud Risk Assessment
• Issue Management and Tracking (IMAT)
• Incident Reports, including following up on Events and Near Misses
• Change Risk Assessments (CRAs)
• Strategic Risk Assessment (SRA)
• Management Control Statement (MCS)
Areas of focus will be:
• Non-financial Risk Management;
• Audit Management & Regulatory;
• Compliance, Legal & HR; and
• Change Management.
ABN AMRO is an enterprising bank with a primary focus on Northwest Europe. We serve clients in the retail, private banking and corporate banking sectors. We are also present internationally in a number of specialist activities, such as Corporate and Commercial Banking, Asset Based Finance and Clearing.
At ABN AMRO we have a clear purpose: Banking for better, for generations to come. The shift towards sustainability is one of the most important challenges of our time. Supporting our clients at times that matter has always been our role and our responsibility. Together, we aim high and work towards lasting relationships that are relevant and responsible, both now and in the future. We want to be the bank that leads the way.
Our strategy goes far beyond financial value: we want to accelerate the transition to sustainability. We do this by supporting and advising our clients in order to facilitate their sustainability shift. Our commitment to clients, employees, investors and society calls for clear direction, focus and dedication.
We concentrate on our three strategic pillars:
- Support our clients’ transition to sustainability
- Reinvent the customer experience
- Build a future-proof bank
Our strategy requires a culture of working together and permanent learning. It’s only with this mindset that we unleash the best in ourselves to deliver a high standard of performance. ABN AMRO’s culture is the catalyst for the evolution in which we find ourselves: our people are imaginative, trust each other and do just that little bit extra to help clients.
ABN AMRO UK is part of the Corporate Banking business line and operates the following businesses in the UK:
- Corporate and Institutional Banking which includes Corporate Banking, Clearing, Global Markets - Sales & Trading and Financial Institutions
- Commercial Banking which includes Asset Based Finance and International Desk, which provides transactional banking services
Our business lines are supported by a number of functions such as Risk, Compliance, Legal, IT, Finance (Including Tax), Business Management and Human Resources. We currently employ approx. 380 people in the UK.
• An excellent and demonstrable track record of understanding risk related business functions and UK financial regulations
• In depth knowledge of financing constructions, operational risk management, process development and management
• Strong working knowledge of financial crime risk and demonstrable ability to perform detailed risk assessments
• Preferred knowledge of ABN AMRO Bank organisation structure, products, processes, systems and objectives
• Demonstrable understanding and awareness of compliance, regulatory and legal framework
• An ability to work with and manage expectations of senior management and key stakeholders
• Good interpersonal skills and excellent service orientation
• Manages own time to meet agreed targets; develops plans for short-term work activities in own area
• Good credibility, trustworthiness, problem solving, task management and self-management competencies
• Excellent team player, pro-active and with a strong focus on working together to achieve results
• Discretion and confidentiality
• Ability to interact professionally and with credibility with all levels of stakeholders (internal and external if necessary)
• Excellent face-to-face, telephone, and written communication skills
• Comfortable with working in an environment of change, with flexible approach to new challenges
• Ability to remain professional and calm under pressure and frustration
Joining ABN AMRO means working on meaningful projects. Projects that have an impact on our clients. Working with a wide range of people with different backgrounds, opinions and ideas. In the UK, in the Netherlands or elsewhere in our international network. We offer an environment where you will be challenged on a daily basis - professionally as well as on a personal level - so that you can grow to become the professional you want to be.
Are you interested? Please apply via the button below.
For more information please contact Niki Champion, Senior Resourcing Partner, UKrecruitment@uk.abnamro.com, +44 203 192 9342.