Head of Operational Risk

Job Posting Organization:
The European Bank for Reconstruction and Development (EBRD) is an international financial institution that was established in 199

• Its mission is to promote the transition to market economies in countries from Central Europe to Central Asia. The EBRD operates in over 30 countries and employs approximately 2,000 staff members. The organization focuses on fostering sustainable development and enhancing the private sector's role in the economy, with a strong commitment to environmental sustainability and social responsibility.

Job Overview:
The Head of Operational Risk is a pivotal role within the EBRD, tasked with leading a team of Operational Risk professionals to enhance the Bank's Operational Risk vision and strategy. This position is crucial for ensuring that the Bank's operational risk management framework is both efficient and effective. The role involves developing, driving, maintaining, and overseeing an institutional-wide Operational Risk Framework that includes a comprehensive network of policies, processes, procedures, reports, and responsibilities. The Head of Operational Risk will be responsible for ensuring that the Bank's approach to operational risk aligns with best practices and meets the needs of various stakeholders, including rating agencies, clients, and counterparties. This position requires a proactive approach to embedding the Operational Risk framework into the Bank's operations and continuously improving the operational risk culture through innovative technology and alignment with external best practices.

Duties and Responsibilities:
The Head of Operational Risk will oversee the strategic development and implementation of operational risk management activities across the Bank. Key responsibilities include: developing operational risk management tools and methodologies in line with best practices; ensuring the Operational Risk Framework, policies, guidelines, and standards are maintained; designing and delivering operational risk awareness training; maintaining an operational risk network across the Bank; ensuring senior management regularly reviews key operational risks and the effectiveness of controls; providing best practice mitigation advice; partnering with business areas to analyze incidents and identify root causes; managing the Operational Risk Management System and vendor relationships; developing external relationships to align with good practices; representing the department at various Risk and Control committees; and directly managing and developing the operational risk team, including recruitment and performance management.

Required Qualifications:
Candidates must possess a Bachelor’s degree or equivalent, along with a qualification in a risk-related discipline such as Accountancy or Risk Management. A strong understanding of regulatory best practices, including BASEL and ISO 31000, is essential. Previous experience in operational risk or a control-focused role within a financial services organization is required, along with banking product knowledge. Strong analytical skills, relationship management skills, and proficiency in Microsoft Office applications are necessary. Candidates should also demonstrate strong presentation skills, effective communication abilities, and the capacity to develop creative solutions to complex issues. Project management skills and team leadership experience are also critical for success in this role.

Educational Background:
The educational background required for this position includes a Bachelor’s degree in a relevant field, such as finance, business administration, or risk management. Additional qualifications in risk management or related disciplines are highly desirable, as they provide a solid foundation for understanding the complexities of operational risk within a financial institution.

Experience:
The ideal candidate should have substantial experience working in operational risk management or a related control-focused role within the financial services sector. This experience should include a demonstrated ability to engage with senior stakeholders and manage operational risk frameworks effectively. Candidates should also have a proven track record of developing high-performing teams and leading strategic initiatives related to operational risk.

Languages:
Fluency in English is mandatory for this position, as it is the primary language of communication within the organization. Proficiency in additional languages is considered a valuable asset, particularly those relevant to the regions in which the EBRD operates, as it can enhance communication with diverse stakeholders.

Additional Notes:
This position is a full-time role with a regular contract type. The contract length is not specified, but the posting end date for applications is set for March 11, 202

• The EBRD promotes a hybrid workplace model that emphasizes flexibility and inclusivity, allowing employees to balance their professional and personal lives effectively. The organization is committed to diversity and encourages applications from qualified candidates regardless of their background.