Director (Risk)

The Director of Risk will lead a Directorate within Risk and Compliance Oversight and report directly to the General Counsel and Chief Risk Officer.

Risk and Compliance Oversight (R&CO) is the second line of defence for the FCA, working with each of the FCA Divisions to ensure the management of Own Risks (operational, execution and public confidence risks) and Risks of Harm is effective to enable the FCA to successfully achieve its strategy and business plan and, hence, its statutory and operational objectives.

The Director will lead their Directorate to oversee the maintenance of the Risk Management Framework, provide ongoing guidance and oversight of risk management across the FCA and oversee the effective operation of the Assurance function.

The Division works in partnership with Senior Management, members of the Board and colleagues across the organisation to manage the internal and external risks to the FCA’s strategy and Annual Workplan and, hence, its statutory and operational objectives.

This is done by:

• supporting and driving effective risk management and decision making

• improving and embedding FCA–wide risk and compliance awareness and understanding

• promoting continuous improvement through quality assurance and lessons learned reviews.

This is an important and exciting role, at a crucial time for the FCA. It will be pivotal in enabling the organisation to rebalance risk and helping senior leadership understand and consciously act upon risk vs opportunity trade-offs.

The role holder will champion risk management at a senior level across the organisation, acting as a partner and critical friend in helping the organisation to continuously mature its approach to risk management. The incumbent will also be responsible for monitoring and reporting on the organisation’s risk profile and recommending ways for key risks to be managed.

The role will require liaison with ExCo, the Board and its sub-committees, key regulatory partners and other relevant external stakeholders. This is a visible, high-profile role with that will require great awareness and dexterity in liaising with stakeholders both internally and externally.

What will the candidate get from the role?

• You will join the Senior Leadership Team at the FCA during an exciting and challenging time of great change in financial services and its regulation.

• You will lead a critical function, holding a high-profile role and be at the centre of many significant issues currently facing the FCA and underpinning the transformation agenda.

• You will gain exposure to not just senior stakeholders in the FCA, but in Government and fellow regulators.

What does the role involve? Key responsibilities:

• Oversight of the organisation’s Risk Management Framework, including the operationalisation of its Risk Appetite Framework

• Lead reporting on the organisation’s risk profile to Executive and Board Committees, including maintenance and continuous improvement of the organisation’s strategic risk registers, recommending ways to manage key risks and identifying risk vs opportunity trade-offs

• Lead the provision of clear, accurate, holistic risk-based advice, guidance and oversight to the organisation, including membership of relevant committees and other forums

• Help the organisation to continuously enhance its risk management capabilities, including researching, developing and utilising innovative analytical techniques / artificial intelligence

• Oversight of the Risk Assurance team, delivering a risk-based assurance plan, providing clear oversight on the management of risks and effectiveness of key controls within the FCA

The responsibilities of the role may include oversight of the Compliance function and the Data Protection Officer in due course and depending on the candidate’s skills and experience.