Head of Sourcing Risk
Description of business unit
The Operational Risk team sits within Group Risk and is responsible for 2nd line of defence (2LOD) oversight of operational risks. This team is responsible for the Operational Risk framework and policies, 2 LOD Risk metrics, standardised risk and control libraries, review and challenge of 1st line of defence (1LOD) risk management, annual deep dive reviews, 1 LOD Path to Target review and challenge, review and challenge at committees and steering groups, as well as governance committees such as the Group Operational Risk Committee.
Purpose of the Role
Group Risk independent oversight, review and challenge of sourcing operational risk management (including Cloud solutions) to ensure the adequate identification, assessment, recording and reporting of sourcing risk.
Key Responsibilities include:
- Independent review and challenge of business management and business supplier relationship managers in relation to outsource partner services to ensure the operational risks are being considered and managed appropriately.
- Effectively represent the independent Group Risk view of sourcing operational risk at management risk committees, programme steering meetings, Group governance committees etc. to ensure the right risks are being considered and proposed mitigating controls are challenged.
- Articulate sourcing operational risk perspectives in clear and accessible language both written and verbal to ensure the risks are understood by the different stakeholders (both technical and non-technical).
- Prepare Group Risk insight papers on the sourcing operational risks and review and challenge business management operational risk papers to committees to ensure awareness and understanding of sourcing risks.
- Maintain a clear and comprehensive sourcing Operational Risk framework, policy and standards to ensure business risk managers have clear parameters and guidance within which they must operate.
- Compile, interpret and provide briefing notes on sourcing operational risk reporting metrics monthly and quarterly to highlight and provide independent insight into the issues that are arising.
- Work with the Head of Risk Framework to ensure full alignment of approach to oversight of sourcing operational risk with Group Risk Management Framework and taxonomy.
- Provide advisory to the Group and its committees on sourcing operational risk.
- Annually review and propose the Risk Appetite for sourcing operational risk.
What is the opportunity?
This is a great opportunity to join the Operational Risk team in Group Risk at a time of significant change. This role will be a key participant in the review and enhancement of all aspects of Operational Risk for the Group. This includes the risk framework, risk metrics, risk taxonomy, risk and control libraries, policies, guidance, model of engagement with business units and support units, development and presentation of papers to governance committees etc. The opportunity is here to make a personal mark on the enhancement of Operational Risk for the Group.
Ways of Working
Working at Bank of Ireland doesn't have to mean working in an office to have an impact. Our dedication to enabling colleagues to thrive means that depending on role type you can have choice and flexibility in where you work and live, subject to your role, customer needs and our requirements. We have a hybrid working model, with home, agile hub and office based options available. We will always list a primary location which can be where you go for in person teamwork, and a location where you can best perform your role.
Essential Skills & Experience
Reflecting the senior level of the role and its responsibilities, the individual must be able to demonstrate the following:
- Extensive experience of operating at a senior risk management level in a financial services organisation - e.g. sourcing risk professional, sourcing operational management, sourcing audit lead.
- Proven track record in sourcing risk management in Financial Services.
- Understanding of the key Financial Services industry Sourcing relationships including Cloud services.
- Up to date knowledge of regulatory and industry guidelines for risk management and mitigation in financial services.
Strategic & Leadership:
- An ability to collaborate, challenge and influence at senior levels inside and outside the organisation including senior executive, GEC and Board level; and engaging with regulators and external stakeholders as required. This includes providing strategic risk analysis and risk perspectives to inform key risk and Group decisions on approach to sourcing risk management.
- Credibility, gravitas, resilience and independence to influence proposals or challenge decisions which affect Group exposure to sourcing risk.
- Proven track record in operating effectively with sourcing Management, Group Risk oversight teams and Internal Audit.
- Experience of working with senior executives, building relationships and challenging effectively.
- Extensive experience of leading a team of risk management professionals, including ensuring there are appropriate skills and up to date industry knowledge on the team to provide a best in class second line of defence in the area of sourcing risk management.
- Strong track record in the areas of solving problems, delivering quality, achieving results, thinking strategically and managing change.
- Manage Risk - Leader
- Accountable - Leader
- One Group, one team - Leader
- Agile - Leader
- Champion Transformation - Leader
Where Agency assistance is required Bank of Ireland Recruitment Team will engage directly with suppliers. Unsolicited CVs / profiles supplied to Bank of Ireland by Recruitment Agencies will not be accepted for this role.
Bank of Ireland Group is an equal opportunities employer and is committed to fostering an inclusive workplace which values and benefits from the diversity of our workforce.For further information, and to apply, please visit our website via the “Apply” button below.