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Operational Risk Manager, Permanent, Hybrid, London
The purpose of this role is to support the maintenance and embedding of operational risk frameworks, processes and reporting into the 1LoD (as an integrated component of the Enterprise Risk Management Framework). The role holder will also need to act as the point of contact for their 1LoD Directorates to provide relevant advice and expert challenge around their risk and control environment.
Key Accountabilities
- Be a trusted 1LoD risk partner to the Chief Operating Office Directorate, cultivating effective relationships and networks ensuring rapid escalation of risks/issues.
- Facilitate the implementation & embedding of the operational risk framework and policies within your directorates, in line with regulatory requirements and industry good practice.
- Support the development of the directorate's risk & control environment, including both their Principal Risks and Directorate Risk & Control Self-Assessment (RCSA) processes, ensuring accurate, complete, timely and meaningful reporting to the relevant risk management committees.
- Lead local Risk Review Meetings with the Exec of the directorate highlighting Risk and Control profiles and any gaps within the business area.
- With the support of 2LoD Risk, assess Risk Maturity within 1LoD Directorates and regularly evaluate against the Risk Maturity Model.
- Support operational risk, issue management, incident / event management and risk acceptance processes, together with associated aggregation and reporting activities.
- Support the Pay.UK's incident & event reporting processes, ensuring that actual/potential losses, fix details and root cause analysis are reported accurately and timely to internal management and our regulators.
- Make risk meaningful and relevant to your stakeholders, supporting the 2LoD in delivering training and awareness materials, sharing best practice in clear easy to understand language.
- Maintain full awareness of and conformance to the Risk Management Framework as well as other relevant Technology and change frameworks.
Skills, Experience & Qualifications
- Significant experience working in a First Line Risk team
- Risk related professional qualification – CISI, ICA, CII, Institute Risk Management or similar professional body
- Experience of maturing industry good practice Operational Risk Management Frameworks
- Demonstrated experience in developing and implementing risk programmes within a 3LoD environment, including risk management technology
- Experience in developing effective RCSAs, controls and issues to mitigate risks
- Familiarity with UK regulatory requirements related to risk management and an understanding of operating a risk and control framework in a regulated business
- Ability to interface with stakeholders effectively to establish relationships and become a trusted advisor
- Ability to produce reports
- Capable of challenging constructively and professionally
- Demonstrated ability to plan and manage own workload in a challenging environment
- Interpersonal skills with the ability to interact across, and manage abroad range of stakeholders including senior stakeholders
- Good people management skills
- Effective negotiating skills coupled with the ability to communicate ideas clearly to stakeholders
- Effective communication and presentation skills to express complex and abstract concepts
- Ability to shape and define new programmes of work
- Experience in projects and programmes specifically implementing change and /or transformation programmes across the enterprise.
At Pay.UK, we value diversity and inclusivity. Research has shown that candidates from underrepresented groups may hesitate to apply unless they meet all the requirements listed. We encourage all qualified candidates to apply, regardless of how closely their skills and experience match the requirements. We are committed to supporting accessibility needs and creating a welcoming environment for all employees. Become part of our team and contribute to the creation of an inclusive work environment that values everyone's unique input.
Who we are
Pay.UK maintains and develops the UK retail payment systems and standards that are core to the economy being able to function on a day-to-day basis.
From Bacs to Faster Payments and cheques – we act as the single operator for all UK retail payments. We put the needs of consumers and businesses at the heart of everything we do, working in the public interest to ensure that the systems the country relies on for its banking transactions are safe, open, innovative and resilient.
Our payment systems underpin the services that enable funds to be transferred between people and institutions. In 2024, the UK's retail payment systems processed 11 billion transactions worth over £10 trillion through Bacs Direct Credit, Direct Debit, Faster Payments, and cheques, and our Current Account Switch Service has facilitated over 9 million switches since it's launch in 2013.
Every day, individuals and businesses use the services we provide to get their salaries, pay their bills and make online and mobile banking payments. Our vision for the future is to enable a vibrant economy, with Pay.UK delivering the best-in-class payment infrastructure and standards for the benefit of consumers and businesses nationwide.
Benefits & Additional Information
- 12% Non-contributory pension
- Discretionary annual bonus
- 30 days annual leave (excluding bank holidays)
- Private medical insurance, life assurance, income protection, health cash plan, dental insurance, Bupa medicals etc
- Employee assistance programme
- Cycle to Work Scheme
- Season ticket loan
- Annual fitness subsidy of up to £500 per annum
- Working from home policy - minimum 40% in the office (eg. 2 days in the office over a 5 day working week)
Please note:
- Some of our benefits are only available to colleagues upon successful completion of the probationary period.
