Head of Operational Risk | 6 Month / Edinburgh (Hybrid) | Inside IR35

Rate: £400

The Opportunity

We are seeking an experienced Head of Operational Risk to lead and strengthen the Bank's operational risk framework during a period of continued growth and regulatory focus.

Reporting into the Chief Risk Officer, this role will provide strategic leadership across operational risk management, ensuring the Bank maintains a robust control environment while supporting business objectives and regulatory requirements.

This is a high-profile position requiring deep financial services experience and a proven track record of implementing and embedding operational risk frameworks within regulated environments.

Key Responsibilities

  • Lead the operational risk function and act as the subject matter expert for operational risk across the Bank
  • Maintain and enhance the operational risk framework, policies and governance processes
  • Oversee risk identification, assessment, monitoring and reporting activities
  • Ensure robust Risk and Control Self-Assessment (RCSA) processes are embedded across the organisation
  • Manage operational risk events, issues and actions through to resolution
  • Produce high-quality risk reporting for Executive Committees, Board Risk Committees and senior stakeholders
  • Challenge and support business areas in the management of operational risks
  • Lead scenario analysis, risk appetite monitoring and key risk indicator (KRI) reporting
  • Support regulatory engagement and ensure compliance with relevant risk management expectations
  • Work closely with Internal Audit, Compliance and business leaders to drive a strong risk culture
  • Provide leadership and mentoring to risk team members where applicable

Essential Experience

  • Significant operational risk experience within a regulated financial services environment
  • Experience operating at Head of Risk, Senior Operational Risk Manager or equivalent level
  • Strong understanding of operational risk frameworks, governance and risk management best practice
  • Experience presenting risk matters to Executive and Board-level stakeholders
  • Demonstrable experience of implementing and improving risk and control frameworks
  • Strong knowledge of risk assessments, controls testing, incident management and risk reporting
  • Excellent stakeholder management and influencing skills

Desirable Experience

  • Banking, investment banking, asset management or wider financial services experience
  • Knowledge of PRA, FCA and broader UK regulatory expectations
  • Experience within a development bank, public sector financial institution or investment organisation
  • Relevant professional qualifications (IRM, ICA, PRM, FRM or equivalent)

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