The Horizon Group
March 6, 2015
Job Type



Job title: Operational Risk Control Officer - VP
Location: Chicago, Illinois


The operational risk control officer's responsibilities focus on the assessment and mitigation of the operational risks in Global Technology and Operations processes. Activities include control awareness, monitoring and escalation, risk reviews and remediation oversight. This includes the implementation of the Three Lines of Defence (3LoD) framework which will require close partnership with the line to deliver accurate risk assessments and develop and deliver risk mitigation plans.

Operational risk control officer will validate the bank's control policy implementation and oversight of risk and control processes. This includes working in partnership with the line to identify risk and recommending mitigation plans when gaps are identified.

Operational risk control officer will be required to liaise closely with the cross-product Control teams, being fully integrated into the wider Risk & Control community. The role will involve oversight of Risk & Control functions including cyclical activities such as self-assessment certifications, adhoc functions regarding control analysis, incident remediation and internal / external audit engagement. The role will require the development of close functional working relationship with colleagues to ensure consistency and appropriate control coverage.

This is a high visibility role requiring a proactive approach to coordinating appropriate control activities, being a key point of contact for all control issues impacting the product line. The candidate should be comfortable with strategic change and be capable of ensuring the transition work reaches the desired end state for the function. There is therefore an opportunity to shape and mold the Control role as it evolves in its new form and help take the team into a new era.

This position will allow qualified individuals to utilize flexible working arrangements to help balance personal responsibilities with a motivating career.


  • Design and implement Control risk assessments as part of the Three Lines of Defence (3LoD) framework: Work closely with the regional Control leads to deliver relevant and accurate risk assessments.
  • Facilitate an independent risk and control framework, challenge control weakness and deliver transparent risk based oversight.
  • Advise and assist in mitigating risks that arise from weakness, errors and external event demands (Audit/Regulatory), in partnership with the business line.
  • Instill a control mindset across the organization, ensuring that control focus is prominent.
  • Follow a disciplined approach to ensure that the new Control remit is followed and implemented by both Control and Operations teams.
  • Understand the impact of errors, timely escalation, remediation and lessons learned to facilitate reduction of operational losses or near misses. Manage incident reporting through the agreed framework and work extensively with the business line to identify root causes and implement robust remediation plans. Ensure senior stakeholders are informed and that corrective measures are assigned, tracked and closed.
  • Educate and provide relevant training to promote awareness and accountability.
  • Create, assess and challenge relevant control indicators. Undertake intrusive analysis and, where required, drive through solutions.
    • Proactively question and challenge Operations to identify areas of potential weakness.
    • Establish and maintain strong relationships with Operations teams and its management to build an effective partnership to reduce operational risks across the organization.
    • Active involvement in weekly/monthly control calls to ensure risks identified across KRIs (e.g. aged breaks) are appropriately escalated and proactively investigated to ensure timely resolution.
    • Understand the fundamentals of the GTO minimum standard control guidelines and how these overlay into the day to day production environment. Provide guidance to line management to ensure the certification is completed within specified deadlines, and that appropriate action plans are implemented.


    • Demonstrable adherence to the Bank’s Values and Beliefs
    • Strong Control/operational risk management experience with an exposure to control practices
    • Inquisitive and probing approach to problem solving and general assessment
    • Embrace change and transformation to move towards the new Control approach
    • Operations and/or Audit experience preferred
    • Ability to remain objective and to independently raise areas of operational risk exposure, while maintaining an effective working relationship with the line
    • Experience handling projects independently i.e. strong Project Management skills/experience
    • Ability to work well under pressure in a fast paced environment and always with professionalism
    • Strong ability to identify process efficiencies, suggest improvements and implement where feasible
    • Good analytical skills, high attention to detail, solid organizational and interpersonal skills
    • Strong verbal and written communication skills with experience of reporting to senior management
    • Good ability to interact with, collaborate, communicate and influence individuals at all levels
    • Experience managing a team, providing direction to junior members of the team and developing top talent
    • Ability to be open minded, share information, transfer knowledge and expertise to team members
    • Excellent presentation skills – reporting and classroom sessions


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