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Vice President - Operational Risk (2LOD)

Location London
Department Risk Management
Mergefield Title {Mergefield Value}
Mergefield Title {Mergefield Value}

This is a Permanent, Full Time vacancy that will close in {x} days at {xx:xx} BST.

Risk Management department is responsible for developing, maintaining and promoting the Bank’s Enterprise Risk Management Framework (ERMF) and activities, and for providing independent second line of defence (2LoD) oversight for Traded Market Risk, IRRBB & FX Risk, Operational Risk and Model Risk management activities as well as the project management activities (i.e. project risk) in the Bank. Market Risk. As a Vice President - Operational Risk (2LOD), you will be responsible for ensuring that the Bank adopts and embeds industry best practice for the management of Operational Risk. You will support with the ongoing development and maintenance of Operational Risk management framework and policies and by providing independent advice and oversight on the first line of defence (1LoD) Operational Risk management activities. This is a full time permanent position.

Key responsibilities

  • Develop and maintain the Operational Risk management document suite (framework and policies) to ensure they are effective, up-to-date and in line with common or leading industry practices or regulatory expectations
  • Develop a balanced Operational Risk management scorecard to measure the effectiveness of Operational Risk management practices across the Bank at a department and individual level. This will include ensuring buy in from Bank-wide stakeholders and working with HR team to embed this in the performance appraisal process
  • Drive enhancement to the Bank’s processes for capturing Operational Risk events to ensure that they are being completely reported in the Operational Risk management system 
  • Continuously enhance and execute the Operational Risk management training’s programme consisting of various modules on key Operational Risk management topics and induction training for new joiners
  • Carry out the annual review of the Bank’s risk appetite statement (RAS) and risk limit(s) for Operational Risk
  • Independently oversee the effectiveness of 1LoD execution of Operational Risk Management programme like RCSA, KI, Risk Event, External Events, Scenario Analysis, Control Management and provide independent advisory and challenges as appropriate, including a formal observation report to each department
  • Drive or support the production of Operational Risk 2LoD reporting on the overall the Operational Risk profile and the internal control environment of the UK operations
  • Act as or support the committee secretary for the Bank’s Operational Risk & Resilience Committee (ORRC), and ensure the meetings are effectively organised, operated and minuted, committee materials are well designed and prepared, communication and correspondence are adequately managed, committee actions are closely monitored and followed up, records and administrations are well maintained
  • Provide ORM contribution to initiatives and into other Bank-wide process like ICAAP, Pillar 3 or other internal/external engagement as appropriate
  • Maintain reasonably good understanding of business products and service offering as well as the associated key process and controls
  • Maintain a good understanding of the sound industry practices and regulatory expectations such as Basel, PRA and keep Management abreast of emerging trends, arears of concerns, notable external events, material changes in regulatory environment
  • Establish and maintain good relationship with business, infrastructure areas, Business Risk & Control (1B) as well as 2LoD control oversight functions to promote effective collaboration as well as sound understanding and effective embedding of ORMF Framework and its principle expectations across the Bank

Requirements

  • Degree educated in Business Administration, Finance, Economics, IT, Law or other equivalent
  • Solid relevant experience in Financial Services, Audit or Consulting. Prior direct work experience in Business, Operations or other infrastructure groups is beneficial
  • Solid understanding of Basel Operational Risk Capital Requirement, BCBS Principles for sound Operational Risk management, Common ORMF as well as industry best practices around ORMF components
  • Excellent overall knowledge of Financial Services product, services, processes and Risk Management principles
  • Proactive, flexible and adaptable with desire to learn and develop
  • Excellent communication skills with solid writing skills mainly for key governance and normative documentation and the ability to deliver compelling, well-structured presentations
  • Team player

Having a presence in the UK for more than 90 years, Bank of China London Branch has been providing an excellent financial service to the market and maintain its competitive edge as an international bank operated in the UK. It has employees in over 33 countries, and it is one of the most internationalised overseas branch in the Bank of China Group. The Bank values the diversity of its employees and aims to create an inclusive environment where everyone can speak up and enjoy the equal opportunities to grow both personally and professionally.  

We strive to offer you a continuous learning environment and we will invest in your development. We provide personalised and varied learning tools to support your growth and career through: 

  • access to the best in class qualifications from leading professional bodies such as the Professional Bankers Certificate and Green & Sustainable Finance Certificate from the Chartered Banker Institute 

  • 24/7 on-demand access to over 600 e-tutorials to build and refresh core and advanced banking knowledge 

  • regular pan-bank stay connected sessions to keep in touch with what is going on across the bank and build your network 

  • exploring your unique and collective strengths and development areas to become the best version of yourself using the globally renowned Insights personality profile 

  • developing our People Managers to help coach and guide you towards success, through our 9-month People Manager Development Programme  

  • encouraging a “growth” personal mindset and promoting continuous professional development (CPD) through annual events such as Learning at Work Week 

  • embracing change in a fast-moving industry and encouraging a forward-looking perspective on career development to “future-proof” your career 

  • promoting cross cultural intelligence and to seek out diverse and inclusive perspectives on challenges faced and their solutions 

We provide an attractive and comprehensive benefits package, offering flexibility that can enable you to select the benefits that suits your needs, including: 

Celine Luo
Assistant Vice President, Financial Crime and Compliance

Bank of China is a great platform for everyone who wants to gain different knowledge and self-development. I started as a Junior Associate and had the opportunities to gain invaluable working experience in two different departments. I am happily working here, as an Assistant Vice President in the Financial Crime and Compliance department. I believe I will continue to grow here, not only in my career development but also in my personal wellbeing.

Daniel Shulakov
Senior Associate,
Credit Management

I joined Bank of China as a university graduate and I believe I have found the best place for me. From the first day my priority was always to learn. This was quickly recognised by my department, which provided me with the platform to grow, and my colleagues have been very helpful in the guidance they have provided me with along my journey. There are ample opportunities to grow with the Bank and it all depends on how much one would like to develop themselves.

Rita Cobbold
Vice President – Head of Customer Due Diligence, CFU Middle Office

I have been working at Bank of China for almost 8 years. In March 2022 I was promoted to VP - Head of Customer Due Diligence and I lead the CDD Unit. There are so many great things about working for the company. My favourite is probably the Bank’s commitment to identifying talent and nurturing them to develop into great leaders. The Bank embraces employees of all experience levels, backgrounds, and beliefs. They understand the value of a diverse team and make efforts to hire a variety of people. Working here has really enhanced my knowledge, my understanding of different cultures, leadership skills and a sense of direction for the future.

Jamie Robinson
Assistant Vice President – Sales, Financial Markets

As a 20-year veteran at Bank of China, I have seen huge growth and progress within that time. Through hard work and perseverance, I was given the opportunity to progress through the ranks, utilising the training and development facilities and absorbing the experience from a diverse range of colleagues. This has been invaluable to develop my soft skills and become a well-rounded professional.

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