JOB TITLE: Chief Financial & Operations Officer, LBCM Luxembourg

LOCATION: Luxembourg

HOURS: Full time

SALARY: Competitive package

About this opportunity

This is a fantastic opportunity to lead the stand up and ongoing management of Lloyds Banking Group’s new LBCM Luxembourg Branch as its Chief Financial & Operational Officer.

As part of our exciting CIB growth strategy, we recognise that Europe is critical to our CIB client franchise. We want to enhance our presence in Europe, building out some of our leading UK propositions and expertise into European markets. As part of this, we're standing up a new Luxembourg branch and we have a fantastic opportunity for someone to join this business as its Chief Financial & Operations Officer (CFOO). LBCM Luxembourg is a key part of the Lloyds Bank Corporate Markets (LBCM) and Corporate & Institutional Banking (CIB) business.

The LBCM Luxembourg Chief Financial & Operations Officer, will be part of the Authorized Management of the Branch responsible for planning, implementing, managing and controlling all financial and operational related activities of the branch.

Key accountabilities - as CFOO, you’re responsibilities will include:

• Financial Operations - Oversee all financial operations, including accounting, budgeting, forecasting, and financial reporting. Ensure accuracy and timeliness in all financial activities.
• Financial Strategy - Develop and implement comprehensive financial strategies to support the bank’s goals and objectives. Align financial planning with the bank's long-term vision.
• Review, develop and actively engage in ensuring outsourcing activities to ensure adherence with relevant EU and Luxembourg regulation. This includes maintenance of required information registers.
• Outsourcing Compliance and Performance: Monitor outsourcing compliance and work to continuously improve performance, developing and implementing strategies to enhance outsourcing activities.
• IT Outsourcing and Oversight: Oversee IT outsourcing activities to ensure alignment with regulatory requirements and business needs, while monitoring and managing the performance of IT outsourcing partners.
• KYC Operations & Controls: Oversee operational control activities, KYC functions (1st line of defence) and Onboarding activities
• Stakeholder Management – Manage relationships with LBCM Finance and Group service provision areas, representatives, external auditors and local regulators and authorities (CSSF, BCL, tax & VAT authorities, …). Serve as the primary point of contact for financial, oversight and operational matters.

Your Authorised Management duties will also include:

• Oversee the effective, sound, and prudent day-to-day management of the activities and identify and proactively inherent risks ensuring appropriate controls are in place to mitigate risks.
• Be responsible for driving the Luxembourg strategy focusing on driving our growth plans in key client sectors, whilst supporting LBCM’s wider European ambitions. This will include developing and implementing medium-term strategic plans whilst considering the wider business, financial management framework, risk appetite, governance and regulatory context as well as contributing to the determination of the Group’s risk appetite and develops strategic objectives, enabling the implementation of the Group’s risk strategy.
• Actively participate in all relevant meetings, as defined by the Terms of References and internal governance in place, to represent the Authorised Management and to determine the business direction effectively.
• Be responsible for the oversight of the finance, oversight & operations functions ensuring that all business units anticipate, identify, assess, measure, monitor, manage, and duly report all the risks to which the Branch is or may be exposed. The risk environment is complex due to need to manage both the local regulatory and the need to consider regulations of supporting teams operating in different jurisdictions.
• Be responsible for embedding the LBG culture and vision by modelling behaviours, creating and agreeing stretching performance objectives, feedback and coaching.
• Optimise the Organisational Design and create a high performing team whilst meeting all legal and regulatory obligations related to our people. Additionally, from a Stakeholder Management lens, this role will be one of the two individuals primarily responsible for all interaction and quality of relationship with local Luxembourgish regulators
• Engage senior stakeholders to influence and challenge key business decisions and support successful development and delivery of business objectives – by attending appropriate forums and committees. Also key to build and maintain external and internal network to identify industry best practice, facilitate deep dive risk reviews - and ensure, legal, regulatory and professional compliance.

What you’ll need:

• Effective business control: breadth of knowledge and experience across the key businesses that transact in Luxembourg, and the wider financial services industry; understanding of economic, political, and social trends; knowledge and experience of prudential measures; ability to identify, articulate and manage risks to strategy; record of delivering results.
• Strong understanding of outsourcing management in financial institutions. Service and supplier management skills, are key to delivering business objectives associated with meeting regulatory requirements.
• In depth exposure and understanding of the key EU legislation relating to outsourcing including MaRisk, DORA and BAIT is required.
• Good understanding of data protection in UK and Europe
• Good Understanding of Financial Institutions IT systems
• Ensures Regulatory Compliance: high standards of conduct and behaviour, especially with regards to the interests of customers; record of delivery on compliance issues; record of robust assessment of colleagues' fitness and propriety; understanding of the importance of documentary evidence for key decisions.
• Responsible delegation of responsibility: understanding of corporate governance; willingness to lead from the front; ability to work with teams across different jurisdictions.
• Openness and cooperation: strong sense of professional ethics and service to the Group and society; willingness to cooperate openly with all stakeholders, including peers, customers and regulators; ability to communicate succinctly and effectively.
• Lead responsibly and proficiently, manage people resources effectively, support and develop colleague talent and meet legal & regulatory obligations related to our people.
• Proven track record of building and leading successful teams: implementing a clear strategy for growth aligned with LBCM and Group risk appetite.
• Compliance with the regulatory system: high standards of conduct and behaviour, especially with regards to the interests of customers; record of delivery on compliance issues; record of robust assessment of colleagues' fitness and propriety; understanding of the importance of documentary evidence for key decisions.
• Highly effective interpersonal and communication skills - including persuasive, influencing and motivational skills, as you'll be required to engage with senior leadership to understand long-term strategic opportunities and challenges to help support the prioritisation of appropriate actions
• Partner Management - Uses personal impact and positioning to build and sustain long-term relationships at all levels (including C-suite Executives). Ability to resolve disagreements, build consensus and influences outcomes.
• Emotional Intelligence - Uses customer/colleague input to anticipate needs and steer targeted and outcome-focused plans.
• Leadership & Culture - Experience of leading teams and applying situational judgement and experience to advise on a broad range of cultural topics (e.g. ethical leadership and accountability), using strategies such as deep listening to ensure colleagues are engaged.
• Innovative approach and willingness to challenge the status quo to achieve results
• Finally, you should be able to speak fluent English and either French or German

About working for us

Our focus is to ensure we’re inclusive every day, building an organisation that reflects modern society and celebrates diversity in all its forms. We’re committed to creating a consciously inclusive workplace where our colleagues can be themselves, thrive and perform at their best.

As an inclusive employer, we offer Workplace Adjustments for colleagues with a disability (which may include long-term health and neurodivergent conditions) where it is reasonable to do so. This could include flexibility with regards to office attendance, location, and working pattern.

We can also provide reasonable adjustments throughout the recruitment process to reduce or remove barriers for applicants with a disability, long-term health condition or neurodivergent condition. If you’d like an adjustment to the recruitment process just let us know.

We also offer a wide-ranging benefits package, which includes:

• A discretionary performance related bonus
• Cash allowance to reflect lunch vouchers and private medical contributions
• Pension scheme
• Car parking space or associated costs reimbursed
• Car allowance
• Annual and special leave according to the collective labour agreement of the Banking sector

If you’re excited by the thought of becoming part of our team, get in touch.

We’d love to hear from you!