Head of Line 1 Risk - Retail Banking and Wealth Management JS Careers is currently partnering with a leading retail banking and wealth management firm for the appointment of their Head of Line 1 Risk. Reporting into the Chief Controls Officer, the role will be responsible for leading a high-performing team of line 1 risk, compliance, and assurance professionals. Your function will ensure the continued embedment of the Non-Financial Risk Management framework for the retail bank and wealth management business in Australia, including coverage of operational risk & controls, regulatory compliance, risk-in-change, reporting & governance, and assurance.
This is a true business-aligned role, where you will be responsible for designing and embedding a robust control framework, leading and performing line 1 assurance activities, and being a trusted adviser to the business.
Key responsibilities:
Leading a team of line 1 risk, compliance, and assurance professionals in embedding operational risk policies and processes. Lead the ongoing management of such processes through the identification, assessment, and mitigation of all non-financial risks.
Assess the control environment and develop a program for testing the operational effectiveness of existing controls and their compliance with group standards and external regulatory obligations.
Prepare and facilitate regular training sessions to ensure the business is updated on key risk controls. Consult with the front office leadership team on new products and processes from an operational risk perspective.
Act as the key point of contact with the regulatory bodies and external auditors on operational risk matters. Provide comprehensive reporting to senior executives, boards, and line 2 risk on the management of line 1 risks.
Suitable candidates will possess:
Relevant tertiary qualifications in finance, accounting, economics, law, etc.
Significant (10+ years) operational risk or internal audit experience, ideally gained within a retail or wealth management environment.
Knowledge of the local regulatory framework would be advantageous.
Proven experience leading and guiding a team of risk or internal audit professionals.
Solid understanding of back-office operations such as loans administration, settlements, credit decisioning, and fraud risk within retail banking.
Excellent communication skills, with the ability to foster effective stakeholder relationships and work closely with the business and second line.
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