Head of Operational Risk Business Coverage ED

SMBC: A trusted partner for the long term

Here at SMBC Group, we want to help you find the next step in your career so read on to discover if this opportunity is the one for you. We like to recognise potential in our people, so we welcome your application even when your experience doesn’t perfectly align with the job description. Whilst we’ll always strive to be better, we’re proud of our inclusive culture, and encourage our applicants and colleagues to be their authentic, unique selves.

Who we are

United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.

Role Summary

The Head of Operational Risk Management Business coverage is responsible for defining and leading the operational risk monitoring and challenge across EMEA, ensuring the organisation effectively identifies, assesses, and mitigates risks impacting critical business services.

The role provides independent challenge across financial markets, sales & trading, core banking functions and control functions (including Operations, Finance and corporate functions) ensuring alignment with UK and European regulatory expectations (including PRA, FCA, and ECB requirements).

Success is measured by the effective integration of operational risk management practices into front-to-back business processes supporting complex and high-risk environments such as trading and wholesale banking. The role also ensures that operational risk management principles underpin strategic transformation, including business transformation initiatives.

Business Area

The role sits within the EMEA Risk Management Division (RMD), providing second-line oversight of operational risk across all business lines, with a particular focus on operational risk management within technology-enabled and market-facing activities. The function works closely with first-line stakeholders across Financial Markets (Sales & Trading), Corporate and Investment Banking, Treasury, and Operations to ensure robust identification, assessment, and mitigation of operational risks impacting revenue-generating and client-facing activities.

The role has significant cross-functional interaction with Technology, Cyber Security, Data Risk, and Third-Party Risk teams, reflecting the increasing dependency of trading platforms and banking services on complex infrastructure, cloud services, and external vendors. Regionally, the role collaborates across EMEA legal entities, while also contributing to global risk frameworks and engaging with Head Office stakeholders to influence group-wide standards.

Given the regulatory focus on operational risk, including third-party dependencies, technology resilience, and critical service continuity, the role is central to ensuring that the organisation meets supervisory expectations and maintains market confidence in its trading and banking operations

Position Description

Lead the Operational Risk Monitoring and Challenge function across EMEA for key business and operational areas, primarily Financial Markets Division (FMD), Corporate Banking Division (CBD) and Operations Administration Division (OAD). Act as the senior subject matter expert and primary regulatory contact for operational risk matters, operating in an environment of significant regulatory and Board scrutiny. Data Risk, Cyber Risk and AI continue to be key areas of focus for regulators including the PRA, FCA and ECB.

The role leads a team of three direct reports and provides virtual leadership to a wider regional network of 3-5 risk professionals across EMEA branches and legal entities. It supports all business and operations functions responsible for critical products, services and processes, while maintaining regular engagement with regulators, external vendors and professional services firms. The role operates across a short- to long-term horizon (6 months to 5 years) and is responsible for strengthening the control environment to minimise operational losses, regulatory penalties and reputational risk.

Key Responsibilities

Define, implement and enhance the EMEA Operational Risk Framework, ensuring alignment with PRA, FCA and ECB requirements and consistent application across Financial Markets, Banking and Operations. Provide independent 2nd Line oversight and challenge of operational risks arising from sales and trading activities, banking operations, technology failures, third-party providers, market infrastructure dependencies, booking errors and front-to-back process failures.

Lead oversight and risk assessment of critical business services, including e-trading, payments and client execution activities. Direct the review and challenge of operational risk controls across trading platforms, booking systems, market connectivity, exchanges, clearing houses, brokers and end-to-end business processes.

Act as the senior regulatory contact for operational risk across EMEA, supporting regulatory reviews, thematic assessments, examinations and remediation programmes. Influence senior stakeholders across Front Office, Operations and Technology to embed effective risk management within strategic change initiatives, business transformation and product development.

Provide governance, reporting and insight to Executive Management and Board Risk Committees on risk exposures, control effectiveness, material incidents, emerging risks and remediation progress. Escalate significant operational risk issues and events, and make risk acceptance decisions within delegated authority and risk appetite parameters.

Knowledge, Skills & Experience

Extensive operational risk experience within banking or financial services, with strong knowledge of operational risk frameworks, resilience requirements, risk events, RCSAs, issues and actions across markets, corporate banking, operations and settlement activities. Strong understanding of PRA, FCA and ECB regulatory expectations, with experience engaging directly with regulators and supporting compliance with evolving operational risk and resilience standards.

Proven ability to provide effective 2nd Line challenge, influence senior stakeholders and build strong relationships across the first line, senior management and governance committees. Strong experience producing risk reporting, including KRIs, events, issues and committee materials, with the ability to communicate complex risk themes clearly and effectively. Demonstrated analytical capability to assess risks, identify root causes, challenge control environments and drive sustainable remediation and continuous improvement.

Competencies

Customer Focus

Driving Change

Driving Results

Embraces Diversity

Enterprise Leadership

Judgement and Decision Making

Risk Management

Strategic and Visionary

Trust and Integrity

What we offer

For all the expertise and experience you bring to help us make a difference, it’s only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.

As an employee of SMBC you have access to a host of both useful and exciting benefit offerings. See below some of the benefits on offer to you:

Hybrid and flexible working

Competitive paid leave days

Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance

Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services

Access a wide range of learning and development opportunities and career progression opportunities

Ambitious remuneration package

So, if you like a challenge and want to continuously grow and develop in a role where you will be supported along the way by a dynamic and diverse team, apply today!!

We recognise our role as a bank to support social change and welcome all applications, including those from groups often under-represented in financial services. We value the uniqueness of professional and personal, backgrounds and perspectives as they play a vital role in continuing the sustainable growth of our organisation. We’ll ensure reasonable adjustments to our recruitment process are offered due to a disability or long-term condition whenever requested.

We are committed to transparent and equitable pay practices. Compensation is determined using objective criteria, including skills, experience, and role responsibilities, and applied consistently throughout our recruitment processes. We do not request candidates' pay history and are committed to preventing unjustified pay disparities.