Our client, a famous Fund is offering a 2 months contract (with possibility of extension until 2 years) as Operational risk management officer.
The candidate has to build an acceptable loss data set from the available internal data which will satisfy the criteria for the migration into the new operational risk system and also the regulatory requirements under the standardised approach for calculating the operational risk capital.
The Group needs to develop policies, procedures and automated controls; to ensure the compliance with the minimum standards for the use of loss data under the standardised approach for calculating the operational risk capital;
to ensure the soundness of data collection and the quality and integrity of the data in order to generating capital outcomes aligned with the Bank's operational loss exposure;
to strengthen the capture the proper identification, collection and treatment of internal loss data linked to the Bank's current business activities, technological processes and risk management procedures;
to update the documentation the procedures and processes for the identification, collection and treatment of internal loss data, which will be reviewed by internal audit;
to map its historical internal loss data into the relevant Level 1 supervisory with documented criteria for allocating losses to the specified event types;
to include information for credit and markets risk related operational risk events, recoveries, gross loss amounts, drivers of causes, grouped losses and recovery definitions as well as reference dates of operational risk events, including the date when the event happened or first began ("date of occurrence"), where available;
the date on which the bank became aware of the event ("date of discovery"); and the date (or dates) when a loss event results in a loss, reserve or provision against a loss being recognised in the bank's profit and loss (P&L) accounts ("date of accounting");
define the items which are clearly excluded from the gross loss computation of the loss data set; to maintain and strengthen automated controls around the loss database and the associated monthly operational risk report production in preparation of the use of a dedicated software.
The perfect candidate has a University degree, preferably in finance, business administration, economics, or IT; at least 3 years' relevant experience gained within a bank or other financial institution.
Relevant experience could include operational risk management or audit, compliance testing, quality assurance; strong proficiency in Microsoft Excel and Microsoft Access, and data management skills required;
comprehensive understanding of internal loss data within the operational risk management function; independent judgment with strong analytical, risk assessment and auditing skills;
ability to analyze large amount of information / data; self-motivated along with the ability to bring projects and reporting to conclusion.