Senior Officer, Operational Risk – ESM

Position Objective:

To maintain and enhance the operational risk management framework within the Risk Department of the European Stability Mechanism (ESM), operating under the designated Board approved ‘High Level Principles of Risk Management’, Risk Policy and Risk Appetite Statement. In addition, to interface directly with key operational areas to ensure that operational weaknesses are proactively addressed.

Key Accountabilities:

• Operational risk management framework
  • Develop and update operational risk policies, guidelines and directives
  • Maintain and upgrade the methodology for identifying, assessing and monitoring operational risks: classification, level of description, listing the financial impact, mitigation and the level of control
  • Contribute to identifying sources of operational risk in business processes
• Operational risk control
  • Agree plans for developing operational risk management in the ESM and implement them
  • Provide second line of defence oversight of the management of key operational risks, including fraud, risks pertaining to  payment systems, information systems security risks, business continuity plans, and outsourcing arrangements
  • Interface directly with key operational areas to ensure that appropriate actions following operational risk incidents are agreed and contribute to the optimisation / improvement of business processes
  • Escalate any resourcing constraints that could lead to delayed or incomplete deliverables
• Operational risk monitoring and reporting
  • Provide clear and concise operational risk reports and statistics to internal and external stakeholders
  • Establish the “dashboard” with key risk indicators and methodology for calculating / reporting
  • Contribute to the construction of an information system: development of a database of incidents, determining the process of capturing data into existing systems, etc.
  • Build, maintain and strengthen partnering with business functions to collect, aggregate and report risk information
  • Perform quality control on risk report content and ensure clear communication of underlying risks
• Continuous improvement
  • Monitor, evaluate and challenge the organisation’s success in managing its operational risks
  • Make proposals to improve the coverage of operational risks and action plans
  • Prepare operational risk educational material and conduct training
• Advice and support on operational risk
  • Provide all functions in ESM with appropriate operational risk management methodology
  • Conduct ad hoc studies and reviews of new / important risk topics, and of best practice at other similar institutions

Location: Luxembourg

Deadline: 18/07/2014 23:59

Read more and apply here.