Head of Risk
Duties and responsibilities:
- Responsible for the management and development of a robust Risk function, to meet its requirements under regulatory or directional requirements from the regulator.
- Providing guidance and assistance to management and relevant staff with the identification, assessment, understanding, management, monitoring and communication of significant internal and external risks.
- Ensure each internal/external risk is identified, assessed, reported and monitored and assist the CEO in managing and mitigating those risks
- Advise the board of directors on the risk management policy and process and any deviations from the risk management policy
- Report on any significant risk event to the board of directors in a timely manner.
- Implement the risk management framework approved by the board of directors
- Maintain the risk register
- Carry out periodic risk reviews of the organisations activities to ensure that its employees and third parties are meeting the required standards in respect of applicable legislation and internal controls.
- Provide monthly reports to the board of directors;
- To be responsible for corporate governance involving appropriate external risk reporting to stakeholders.
- Communicate the risk management policy, process and roles within the business.
- Provide training and support in the area of risk management to the team
- Support the board of directors in promoting a culture of risk awareness, identification and management at every level within the business.
- To take constant steps to analyse and fix any areas open to litigation, including liaison with legal counsel. Occasionally, the Risk Manager will have to testify on behalf of the business.
- Working with functional teams to ensure complete reporting on the risk profile to Executive Management and the Risk Committee of the Board of Directors.
- Working with external suppliers to ensure complete reporting on the risk profile to Executive Management and the Risk Committee of the Board of Directors
- Reviewing key performance indicators/metrics and assist management in the early identification of risk trends.
- Partners with the executive management team and relevant staff to prepare risk self-assessments including analysis of stated controls, identifying gaps and creating action plans
- Leads development and annual planning for RM activities, budgets and resources
- Provide assistance to the board of directors and volunteers, liaising with committees as required.
Requirements:
- A minimum of 5 years’ experience in Risk Management in Financial Services or other relevant sectors
- A professional qualification relevant to the role.
- Strong interpersonal and organisational skills
- Experience in leading a team of people, people development and coaching.
- Capable of leading a Board through key issues and facilitating solutions/mitigating actions with them
- Capable of organizational influence in leading the staff through required changes to better position the business in all regulatory matters
- Excellent written and oral communication skills
- Efficient and well organized with exceptional attention to detail
- Have good analytical ability and demonstrated project management skills
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