Operational Risk Manager

Operational Risk Manager, Permanent, Hybrid, London

The purpose of this role is to support the maintenance and embedding of operational risk frameworks, processes and reporting into the 1LoD (as an integrated component of the Enterprise Risk Management Framework). The role holder will also need to act as the point of contact for their 1LoD Directorates to provide relevant advice and expert challenge around their risk and control environment.

Key Accountabilities

• Be a trusted 1LoD risk partner to the Chief Operating Office Directorate, cultivating effective relationships and networks ensuring rapid escalation of risks / issues.
• Facilitate the implementation & embedding of the operational risk framework and policies within your directorates, in line with regulatory requirements and industry good practice.
• Support the development of the directorate's risk & control environment, including both their Principal Risks and Directorate Risk & Control Self-Assessment (RCSA) processes, ensuring accurate, complete, timely and meaningful reporting to the relevant risk management committees.
• Lead local Risk Review Meetings with the Exec of the directorate highlighting Risk and Control profiles and any gaps within the business area.
• With the support of 2LoD Risk, assess Risk Maturity within 1LoD Directorates and regularly evaluate against the Risk Maturity Model.
• Support operational risk, issue management, incident / event management and risk acceptance processes, together with associated aggregation and reporting activities.
• Support the Pay.UK's incident & event reporting processes, ensuring that actual / potential losses, fix details and root cause analysis are reported accurately and timely to internal management and our regulators.
• Make risk meaningful and relevant to your stakeholders, supporting the 2LoD in delivering training and awareness materials, sharing best practice in clear easy to understand language.
• Maintain full awareness of and conformance to the Risk Management Framework as well as other relevant Technology and change frameworks.

Skills, Experience & Qualifications

At Pay.UK, we value diversity and inclusivity. Research has shown that candidates from underrepresented groups may hesitate to apply unless they meet all the requirements listed. We encourage all qualified candidates to apply, regardless of how closely their skills and experience match the requirements. We are committed to supporting accessibility needs and creating a welcoming environment for all employees. Become part of our team and contribute to the creation of an inclusive work environment that values everyone's unique input.

Who we are

Pay.UK maintains and develops the UK retail payment systems and standards that are core to the economy being able to function on a day-to-day basis.

From Bacs to Faster Payments and cheques - we act as the single operator for all UK retail payments. We put the needs of consumers and businesses at the heart of everything we do, working in the public interest to ensure that the systems the country relies on for its banking transactions are safe, open, innovative and resilient.

Our payment systems underpin the services that enable funds to be transferred between people and institutions. In 2024, the UK's retail payment systems processed 11 billion transactions worth over £10 trillion through Bacs Direct Credit, Direct Debit, Faster Payments, and cheques, and our Current Account Switch Service has facilitated over 9 million switches since it's launch in 2013.

Every day, individuals and businesses use the services we provide to get their salaries, pay their bills and make online and mobile banking payments. Our vision for the future is to enable a vibrant economy, with Pay.UK delivering the best-in-class payment infrastructure and standards for the benefit of consumers and businesses nationwide.

Benefits & Additional Information

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