Chief Risk Officer

Role overview

We are seeking an experienced Interim Chief Risk Officer to support a platform-based banking business as it develops its regulated banking capability and progresses towards authorisation. The CRO will work closely with the leadership team to define the organisation's risk strategy and risk profile and establish the governance, frameworks and capabilities expected of a regulated bank. 

This is a strategic but hands-on role. The successful candidate will bring significant senior risk experience from within a regulated banking environment together with strong PRA and FCA engagement experience. They will be comfortable advising senior leadership and the Board while also taking ownership of developing and implementing the required risk frameworks.

Key responsibilities

Risk strategy and framework

Define and develop the bank's overall risk strategy and enterprise risk management framework

Establish an appropriate risk taxonomy, risk appetite framework, policies, limits and supporting governance

Assess the risk profile arising from the business model, operating model, customers, products and platform-based infrastructure

Advise and constructively challenge leadership on the appropriate risk profile for the future bank

Translate risk appetite into practical limits, controls, monitoring and management information

Establish appropriate risk governance, escalation and Board reporting arrangementsRegulatory engagement and authorisation

Provide senior risk leadership as the organisation progresses through the bank authorisation process

Support the leadership team in preparing for regulatory engagement, meetings, reviews and challenge

Act as a credible senior risk representative in interactions with the PRA and FCA as required

Anticipate and help address regulatory questions relating to the business model, risk profile, governance and financial resilience

Ensure the risk framework and associated documentation can demonstrate that the organisation understands and can effectively manage its material risksCapital and liquidity

Lead or provide senior oversight of the development of the ICAAP

Lead or provide senior oversight of the ILAAP and wider liquidity risk framework

Ensure capital, liquidity and risk appetite are appropriately aligned to the business plan and financial forecasts

Provide effective challenge over stress testing, scenarios, assumptions and management actions

Support the development of appropriate capital and liquidity governance and monitoringRisk capability and implementation

Establish proportionate frameworks for the bank's key financial and non-financial risks

Develop appropriate KRIs, risk reporting, management information and escalation thresholds

Help establish an effective three lines model with clear responsibilities across Risk, Compliance, Finance, Operations and Technology

Identify gaps against the required future-state risk environment and establish a prioritised roadmap to address these

Support the design of the longer-term risk operating model including capability and resourcing requirements

Support the transition to a permanent CRO and risk function as the organisation develops

Essential experience

The successful individual should demonstrate:

Previous experience as a CRO, Deputy CRO or equivalent senior risk leader within a UK regulated bank

Strong understanding of the risk management

requirements and expectations applying to regulated banks

Significant experience of direct PRA and FCA engagement

Strong enterprise risk management and risk governance experience

Demonstrable experience of developing or materially enhancing risk appetite frameworks

Strong ICAAP and ILAAP experience including stress testing, capital and liquidity risk

Experience advising and constructively challenging Boards and executive leadership teams

Experience presenting complex risk matters to Boards, Risk Committees and regulators

Ability to translate a developing business model into a clear, proportionate and defensible risk profile

Experience establishing or significantly developing risk frameworks rather than solely operating within established environments

Sufficient breadth to provide effective challenge across financial and non-financial risks

Strong written skills and experience producing Board and regulatory documentationLocation: London - hybrid

Working days: 1-2 days per week, with flexibility to increase

Contract length: 3-6 months