Head of/AVP/SM Operational Risk

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Our Client is A European Based Insurance Firm

Reporting directly to the CRO, the incumbent will be working in a brand new role and will be responsible for performing Operational risk assessment for all legal entities. As part of this role, the jobholder will be expected to:



  • Ensure an effective ERM Framework through establishing, implementing and maintaining the Operational Risk management for identifying, assessing and managing operational risk and review related policies in line with Group Operational Risk policy and standards as well as all other related regulatory and professional requirements.
  • Manage the process for setting the operational risk appetite.
  • Design and develop all mechanisms and tools for performing risk assessment including business /functional risk appetite and stress and scenario testing for Operational Risk.
  • Provide a 2nd (line) opinion on key operational risk decisions including systems, controls, people and processes including BCP, internal controls, outsourcing, models and key inherent operational risk matters as well as providing information to CRO and/or operational risk related committees to enable a decision to be made on whether or not to proceed, in accordance to Ageas governance structure. 
  • Set and agree firm-wide operational risk priorities
  • Act as the operational risk adviser to the firm, and in particular to guide senior management in their operational risk management responsibilities,
  • Establish a process and awareness for embedding operational risk
  • Bring an operational risk focused viewpoint to strategic planning and other activities of senior management
  • Facilitate the implementation of the operational risk processes, providing, coaching and guidance to business line management
  • Manage the process for setting the operational risk appetite.
  • Monitor and manage the firm’s overall exposure to op risk including working with the business line and other functions to mitigate operational risk
  • Ensure a consistent approach to operational risk across the lines of business and functions
  • Co-ordinate appropriate and timely reporting of op risks reports
  • Co-ordinate op risk input to the risk committee and the board on the firm’s risk profile, control infrastructure and any control failings, weaknesses and actions taken
  • Co-ordinate input to the regulators on the relevant operational risk matters
  • Liaise with key control functions including IA, Compliance and Actuarial 



  • A degree holder ideally in the engineering/ finance related discipline supplemented with operational management qualification (e.g Audit, CERA).
  • In-depth knowledge of the Insurance / Banking Operations, Products and Processes. 
  • Proven strong people and process management skills including stakeholder management skills and an ability to work successfully with senior managers across the business
  • A strong background within internal control and the review and development of operational risk policies and procedures.
  • Due to the nature of the role, the preferred candidate must have hands on experience designing and conducting risk appetite, risk assessment and control, particularly related to insurance and technology business.