Operational Risks and Permanent Control Manager

Context and missions

The Operational Risk and Permanent Control team assists the entity Chief Risk Officer (CRO) with developing and implementing a comprehensive and effective permanent control framework at LCH SA, excluding the Cyber related topics, with a specific focus on managing risks within the Boards’ risk appetite.

Scope of risks oversight: The Operational risks, defined in the Risk Governance Framework and specified in the team organization based on the domain of expertise. This includes notably, continuity, technology & data, third party, operational processes and physical security risks.

After having familiarized himself/herself with the Operational Risk and Permanent Control documentation, the technical and organizational environment of Clearing activities, and the operational risk information system, the OR&PC members mission is to contribute to:
Permanent control Framing and methodology
- Contribute to develop and maintain a comprehensive permanent control framework for LCH SA, mainly supported by the Permanent control procedure.
- Contribute to develop and maintain policy framework (and applicable standards) for Operational Risks in accordance with LCH SA Risk appetite ensuring that framework is fit for purpose and Business is in compliance with the group policies and the regulatory requirements (mainly ACPR arrété du 3 nov 2014, AMF, EMIR, DORA, CFTC, Reg SCI, ANSSI)
- Contribute to the Crisis coordination framework including Default: Definition and maintenance of the Crisis management framework, and default crisis coordination framework, encompassing crisis management and tool testing and coordination
- Contribute to Business continuity, recovery, testing methodology and framework: support the LOD1 in the maintenance of an effective framework.

Independent controls on applicable operational risks
- Define and perform 2nd line of defense control plan, ie ensure an adequate framework of permanent controls is well established and perform control assurance, control testing, deep dive as defined in the Permanent Control Procedure.
- Testing the design and operational effectiveness of these controls.
- Liaising and challenging the relevant teams and/or the operational risk correspondents to define proper action plans in case of insufficient result and or any anomalies detected.

Recording, metrics and governance:

- Ensuring that the controls of 1st and 2nd levels are correctly recorded in the operational risk information system.
- Formalizing a report/statement of progress to the internal risk governance and to the Group one if any.
- Creating/ maintaining dedicated KRI /KCI and doing its follow-up to the internal risk governance

Risk assessment challenge:

- Support the 1st Line of Defence (LoD) operational risk correspondents in the monitoring of their risks (e.g. training, methodology to comply with, etc.)
- Challenge the first line of defense on the risks associated with their BAU (RCSA/RCA, BIA for continuity) and change activities that may impact the risk profile of the CCP (ORA/DORA, issue creation/extension/ closure) and ensure
- Challenge the operational resilience of processes and mitigation measures defined and implemented by first line of defense: eg ensure recovery time from incidents is compliant with regulatory requirement, data centres & disaster recovery plans as well as recovery strategies & business recovery plans are fit for purpose; tested and challenged. Results and actions are reporting in the appropriate governance.

Challenge remediation and incidents
- Challenge issues (including external or internal Audit) on creation/ closure/ extension and ensure effective recording in the Risk management tool
- Participating to the follow-up of the incidents (e.g. meeting, challenge of operational risk assessment and losses, actions etc.)

Tool & Reporting:

- Contribute to maintain and improve the operational risk information system
- Ensure internal / external reporting are produced in time and consistently to provide an overview of LCH SA risk profile

Crisis coordinator role (global and default):

- Support the CCP to minimise the impact to financial markets, customers and other stakeholders arising from any event which causes disruption, as well as to protect the welfare of staff during such an event.
- The crisis coordinator will be activated in case of major incident/disruption that will lead to a crisis, being default or ops risk related.

Experience and skills required
- 7 years + of experience in the financial industry in Internal Control function and risk management
- Fluent in English (working language)
- Excellent communication skills (staff, peers, Group, etc...)
- Organizational skills
- Delivery oriented, problem solving mindset
- High capability to analyse and to summarise
- Good knowledge of Data Management (Excel, VBA,...)
- Ability to interact with senior management and multiple stakeholders, including regulators

At LSEG, we believe that creating a diver