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Head Of Function, Operational Resilience
Central Bank of IrelandDublin€134,803 - €149,607 per yearPermanent
The Central Bank of Ireland serves the public interest by safeguarding monetary and financial stability and by working to ensure that the financial system operates in the best interests of consumers and the wider economy.We currently have a vacancy in our Governance and Operational Resilience Division within the Prudential Analysis and Inspections Directorate. We are seeking a Head of Function – Operational Resilience, on a contract of indefinite duration. The role is aligned with the Head of Functiongrade and the HOF salary scale, between €134,803 and €149,607 applies. Please click here for further information on our salary scales.The division supports the supervision of the financial sector by deploying risk expertise and a cross-sectoral perspective for non-financial risks such as governance, risk management information technology/cyber, operational and outsourcing risk. This includes the direct provision of expertise through inspections, thematic reviews, risk assessments, advisory, training and secondments.The teams of risk specialists lead collaboration across the organisation to develop and deliver supervisory frameworks, to drive improvements in cross-sectoral areas such as the financial sector’s operational resilience within firms. This collaboration also extends to engaging with peers throughout the European System of Financial Supervision in order to influence and leverage the policies and processes that underpin financial regulation and supervision across the EU.This role is an excellent opportunity to maximise the impact of dedicated risk specialists, to leverage insights and horizon scanning perspectives to identify emerging issues, and develop supervisory strategies to drive improvements in the resilience and effective functioning of the financial system.The Head of Function – Operational Resilience role holder will take particular responsibility for leading teams of risk specialists in the areas of technology risk, operational resilience, operational & outsourcing risk and business model risk. This role will focus on enhancing approaches to operational resilience in the financial services sector and individual firms, through the pro-active identification of threats and vulnerabilities, and assessment of response strategies. The role holder will manage and lead the division together with the Head of Division and another Head of Function. The role also has the following responsibilities, requirements and interpersonal skills:Responsibilities:
- Taking a lead role in developing the supervision strategy for the relevant risk areas across Regulation & Supervision, while working in partnership with supervisors. The objective being to create an operationally resilient system where firms are well governed, have effective cultures, with effective risk management and control arrangements.
- Creating an environment where people can develop to their full capability, and where the principles and behaviours of the Bank are lived. Working with the people managers to develop, coach and manage team members to achieve the required performance standards.
- Translation of supervisory strategies into annual work programmes and delivering the annual plan, through teams of risk specialists. Execution of this plan using various approaches including inspections, thematic analysis, risk assessments, and advisory in accordance with agreed supervisory strategies.
- Engaging decisively with financial services firms at a senior level in support of teams achieving the desired supervisory outcomes, and help lead the Bank’s engagement with industry, including pro-actively engaging with the sectors.
- Leveraging the subject matter expertise of risk specialists to drive improvements and promote the evolution of regulatory and supervisory approaches, by developing, enhancing and implementing supervisory frameworks.
- Managing senior level engagements with stakeholders so that key relationships are maintained and leveraged. This includes relevant areas within the Bank, e.g. supervisory divisions, Policy and Risk, Financial Stability etc.; as well as representing the Bank at relevant meetings within the European System of Financial Supervision and with international peer regulators.
- Contribute to the development of the overall strategy for the Division and the Directorate to ensure the objectives and strategic outcomes for the Directorate, Financial Regulation and the Central Bank as a whole, can be realised.
- Broad and relevant experience in financial regulation and/or relevant financial services of which: at least 5 years leading and managing a team of professionals at a senior level.
- Relevant experience includes but is not limited to: working in supervision, working in the financial services sector, experience of risk-management functions, supervisory policy, inspections or audit (internal or external).
- Cross-sectoral knowledge is an advantage. At a minimum in-depth experience in one of the following sectors - insurance, banking, payment firms, investment firms or funds.
- Practical experience of risk management and internal controls, specifically in the areas of:
- Technology Risk (IT), including information and communication technology (ICT) and security risk, and cyber incidents;
- Operational Resilience (non-digital and digital);
- Operational risk (non-IT) and outsourcing risk, and
- Threats to the viability and sustainability of business models.
- Experience of risk management in cloud service providers, knowledge of governance & risk management in relation to Artificial Intelligence (AI), and/or an understanding of the payments eco-system in Ireland and Europe would be advantageous.
- Leading people through change and delivery of key projects relevant to the Directorate.
- Strong people management, coaching and leadership skills including the ability to manage through people in ‘matrix style’ working.
- Excellent verbal and written communication that can be tailored for a wide variety of contexts.
- Excellent capability in managing contentious issues.
- Acting professionally, ethically and with integrity including being an exemplar for key principles and behaviours.
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