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Operational Risk |
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Just a few years ago 'risk' within financial
services meant credit risk and market risk, with liquidity risk emerging as
a separate discipline in its own right. All other risks fell under the aegis
of various different departments, if anywhere. People risks were looked
after by the HR departments, systems risks were the concern of the IT
department and the Organisation annd Methods team looked at the risks
surrounding processes. In recent years the interconnections between these
various risks have come to be recognised and the concept of operational risk
has grown to draw all of these risks together and to identify the potential
impact that they have on the more traditional risks.
I can help you to look at the overall governance
that acts as the 'glue' to bring together the various elements of your risk
framework or to help you build the individual elements of that framework. I
have carried out interim management roles, both in governance and operational
risk, facing off to business units and helping them to identify, assess and
monitor their risks, as well as identifying and creating appropriate controls to
mitigate those risks.
Below you will find some examples of the work
that I have done in this area: |
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Barclaycard |
As interim Head of Governance for the whole
company I was responsible for:
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thought-leadership on good governance and
risk management throughout the company;
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creation and roll-out of a communication
plan for risk and governance across the company (including Basel II and
SOX);
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design and roll-out of an accreditation
programme on risk management and governance;
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standardisation of tools and templates for
use throughout company and introduction of change control for these;
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creation of effectiveness check-lists for
Entity Level Controls for SOX compliance.
This role, within a team of 20, involved
liaison with staff at all levels in the organisation, including discussions
with Board members re approach and prioritisation. |
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I designed and implemented an integrated
governance and risk dashboard for the Operating Committee of the Corporate
and Investment Banking division. This pulled together all aspects of
Operational Risk (risks, controls and incidents), assurance and governance
and was supported by a comprehensive set of Key Risk Indicators and
governance components. |
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Group Operations is the power-house of the bank,
responsible for all in-sourced services for the three main customer-facing
Divisions. As interim Head of Operational Risk within Group
Operations I was responsible for helping the risk function to take the next
step on the journey to become fully devolved into the business. This
involved changing the role of the department from a collection of risk
partners and practice leaders into a Risk Academy, establishing best
practice and developing staff by way of secondments and other training and
by creating close links with the Institute of Risk Management.
One cornerstone of this Risk Academy is a
Risk Practitioner Programme, accredited by City & Guilds. Other modules,
included Financial Sanctions, AML and Internal Fraud.
I also redesigned and documented the
processes within the Regulation and Policy Compliance team. |
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Barclaycard |
Interim management position as Risk Partner
within a team of 16, responsible for helping Board and programme managers
within a Business Unit to identify and manage all operational risks. Role
included:
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defining and refining controls to meet
regulatory requirements;
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helping business to define business
continuity plans;
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working with business to develop risk and
governance maturity model;
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development of an accreditation system for
business risk awareness;
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development and implementation of a risk
communications plan.
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