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Senior Operational Risk Officer (M/F)

Senior Operational Risk Officer (M/F)

Founded in 1856, Banque Internationale à Luxembourg is the oldest multi-business bank in the Grand Duchy. From its foundation, the BIL has always played an active role in the development of the Luxembourg economy. It currently operates in retail, private and corporate banking, as well as on major capital markets. Employing more than 2 000 people, BIL is present in the financial hotspots that are Luxembourg, Switzerland, and China.

As a major player in Luxembourg’s finance industry and as a signatory of the UN Principles of Responsible Banking, BIL is committed to handing over a responsible and sustainable bank to future generations.

Responsibilities

In response to BILs’ strategic objectives, the Group Operational Risk function located in Luxembourg, is expanding. 

The role sits within the 2LoD will aim to facilitate and monitor the implementation of effective risk management practices by management in the operational areas. It also seeks to assist risk owners in defining their target risk exposure and reporting adequate risk-related information, throughout the organisation.

You must be able to demonstrate a genuine interest in joining BIL, have a good understanding of applicable regulations the concept of the 3LoD and how this translates into the operating environment, an excellent work ethic, with an innate can-do attitude and most importantly, have practical experience in environments that have gone through the challenges, of complex system migrations. 


You will be responsible for:

  • Developing strong relationships with key stakeholders and business partners by addressing issues/concerns in timely manner,
  • Undertake front to back, key risk assessments and operational risk reviews across BIL’s business units,
  • Assist in identifying and evaluating risk across BIL’s operational activities,
  • Investigate root causes of operational risk events and provide support to mitigate risk,
  • Report operational risk issues and decisions to senior management on regular basis,
  • Assist in development of indicators and the monitoring thereof,
  • Provide credible challenge to the business leading to the improvement of the control environment,
  • Maintain documentation for risk management and risk policies and procedures,
  • Keep abreast of latest operational risk management techniques and, industry best practices.


To be successful you will display the following core competencies:

Communication:

  • You will be required to communicate with a variety of stakeholders, including other members of the team, senior management, and other risk officers within the broader Risk department. Your inherent verbal and written communication skills to convey information about potential risks and how the organisation plans to mitigate them is key in building relationships.

Risk management knowledge:

  • Risk management is the process by which organisations identify, evaluate, and mitigate risks. You should have a thorough understanding of risk management practices to be successful in your career. You will be required to identify risks and develop strategies to mitigate them. You should also be able to evaluate the success of these strategies and adjust them where required.

Critical thinking:

  • Critical thinking is the ability to analyse a situation and determine the best course of action. You will be required to use your knowledge and experience as well as your inherent critical thinking skills to make decisions about how to mitigate risks and prevent potential losses.  

Problem-solving:

  • You will use your networking skills as well as your problem-solving skills to identify potential risks and to develop strategies to prevent them from occurring. You will also use these skills to identify potential issues and develop solutions to resolve them if they do occur.


must have requirements

Ideally, you will have 5-10 years’ work experience, demonstrating a strong control-mindset with a proven background in Operational Risk. You will have a deep understanding of the operational processes associated with Luxembourg regulated entities covering, Private Banking, Asset Management, Depository Services, and all aspects of Fund Administration. Having a background in Operations would be considered as an asset for hiring purposes. 

You will be fluent in English (writing essential) and be able to communicate in French, with the ability to build strong relationships within BIL, to help implement the Operational Risk agenda.

Having excellent interpersonal skills, you must be able to work both autonomously on specific assignments, as well as part of a team, with minimum supervision and represent the Head of Operational Risk on a multitude of operational and process related topics.  


Background:

  • You will have at minimum a bachelor’s degree in risk management or related field,
  • A strong knowledge of the principles of Operational Risk Management and Compliance disciplines,
  • Good knowledge of front/back-office processes and procedures; and related controls,
  • Sound understanding of the Luxembourg & ECB regulatory frameworks and underlying principles,
  • Sound understanding of the business and market environment in which BIL operates,
  • Display a good level of knowledge and understanding of Banking related products and policies,
  • Broad understanding of general banking procedures.


Applications will be treated in strict confidence.  


We offer

BIL offers a broad range of challenging projects and a huge choice of career paths - we will assist you in finding the one that best meets your skills and expectations. Your personal development is our priority and we greatly encourage you to dive into different business areas for the broadest possible experience.

BIL is firmly of the opinion that diversity & inclusion contribute towards increasing the collective performance of the bank. We are committed to creating a culture of inclusion that encourages individual development with equal opportunities for all.


NB: The selected candidate will be asked to provide an extract from the criminal record (no.3) as evidence of integrity and justified with regard to the specific needs of the position to be filled.

REQUIREDLANGUAGES

To be considered for this position it is crucial that you have knowledge of the following languages
  • Read C1 Advanced
    Write C1 Advanced
    Speak C1 Advanced
  • Read C1 Advanced
    Write C1 Advanced
    Speak C1 Advanced
minimum required Education
Required work experience in years
5 or more years
Details
Employment type
Contract type
Hours per week
40
Location
Country
City
Luxembourg
Departments
Risk Management

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