JOB TITLE: Senior Risk Officer, LBCM Luxembourg

LOCATION: Luxembourg

HOURS: Full time

SALARY: Competitive package

About this opportunity

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 Senior Risk Officer (SRO). LBCM Luxembourg is a key part of the Lloyds Bank Corporate Markets (LBCM) and Corporate & Institutional Banking (CIB) business.

You’ll be responsible for:

• supporting the LBCM Lux Management Board for all Risk policy issues, in particular covering the implementation of LBCM Lux’s Risk Management Strategy (including Risk Appetite and RCSA), the regular monitoring and review of LBCM Lux’s risk exposures and assessment of the risk implications of new regulations and new business activities.
• approving Credit proposals recommended to the Lux Branch by the LBG Shared Services Credit team up to delegated Credit authority limit.
• providing Risk oversight of KYC / Client Onboarding operations, Outsourcing / IT risks, Non-Financial Risk and 1LOD control activities.
• the on-going liaison with CSSF and Banque Centrale du Luxembourg, as part of the relationship approach with Regulators defined and structured by the CRO.

As SRO you’ll become a Material Risk Taker and ensure back-up for the CRO in providing local Credit decisions.

You’ll play a key role in the finalisation, implementation, continuous improvement and ongoing operational support of the Risk Management Framework for the Lux Branch.

Key responsibilities as SRO include:

• Strategy – the Senior Risk Officer has to:

-Contribute to, and implement LBCM Lux’s Risk Strategy and, at least annually, advise the

Management Board on any recommended changes. The Risk Strategy shall include all the

elements required by Regulators (e.g. Risk Appetite).

-Contribute Credit insight to annual updates to Business Strategy and IT Strategy docs.

-Engage stakeholders to challenge business decisions and support successful development

and delivery of business objectives by attending appropriate LBCM forums and committees

(e.g. Product Governance Committee, Outsourcing Committee)

• Build and maintain relationships with key internal customers and act as their Lux Risk Management partner, while typically using support teams to ensure client satisfaction. Also key to build and maintain external and internal network to identify industry best practice, perform deep dive risk reviews - and ensure, legal, regulatory and professional compliance.
• Undertake and be accountable for sanctioning decisions for transactions that meet the Credit Risk Appetite of the Lux Branch including approval of documentary terms.
• Assist the CRO on Risk projects with a CIB and Group impact. Supporting this, the SRO will provide high quality interpretation and translation of LBG policy into Risk Management processes, systems and methodologies for business units, and support the CRO with the preparation of Risk reporting to the Luxembourg and LBCM Management Committee.
• Support the CRO in the finalisation of the stand up of the Lux Branch, particularly with respect to defining and setting-up the Risk Management Framework within Luxembourg, in accordance with the Group (including the review and the implementation of key indicators).
• Perform risk control 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 SRO is responsible for overseeing the implementation of LBCM Lux’s Risk Management & Risk Controls for both Financial and Non-Financial risks (in coordination with Non-Financial Risk leadership within LBCM):

-monitor and report the Lux Branch’s risk profile against Financial and Non-Financial Risk

metrics.

-preparation of Risk MI.

-oversee the implementation of LBCM Lux’s procedures for the management and monitoring

of risks.

-design and ensure implementation of LBCM Lux’s policies and procedures for the

management and monitoring of operational risks, consistent with the requirements set out in

LBCM Lux’s Operational Risk Policy and Procedure documents.

-design and ensure implementation across the Lux Branch of the Risk and Control Self-

Assessment (RCSA) Framework as per requirements set out in the RCSA Handbook.

• On an ongoing basis, monitor the investment risk strategies and design charters, policies, procedures to ensure alignment with regulatory requirements, alongside developing risk models applicable to LBCM Lux's activities and services. Other responsibilities will include defining and setting up of the LBCM Lux recovery plan (in collaboration with the Group), and liaising with the other teams within the Group and external legal and regulatory advisors in connection with regulatory and operational matters.
• Risk Culture – provide advice to the Management Board members on the manner in which LBCM Lux’s staff deal with risks in the course of their duties. Promote a Risk Culture which seeks early identification of risks and delivers compliance by all staff to LBCM Lux’s Risk Appetite.
• Training & Recruitment –

-Comply with mandatory training requirements; identify and undertake any other additional

role-specific training, including MRT requirements.

-Annually review if additional training is required in the context of Luxembourg regulatory

obligations

Core capabilities, skills and experience include:

• Regulatory change adaptation – support the LBCM Lux Chief Compliance Officer in reviewing regulatory changes for relevance to LBCM Lux and advise on any required changes to LBCM Lux’s Risk policies and procedures.
• Policies & Procedures – review (at least annually) relevant LBCM Lux Risk policy and procedure documents and make recommendations to Management Board for any required changes ensuring alignment to the extent possible with LBG policies, and the adoption of best practice.

What you’ll need:

• The Senior Risk Officer must have a deep understanding of regulations relevant to Risk Management, in particular EBA Guidelines, DORA, CRD VI / CRR III, Basel IV, IFRS9, and the Luxembourg regulatory environment.
• Minimum of 7 years' experience working in a Senior Risk role within Financial Institutions or Asset Management, of which at least 3 years of relevant Credit experience; including detailed knowledge of applicable Luxembourg and EU legislation at a transactional level.
• Professional experience of Credit assessment and sanctioning for Financial Sponsors/Fund transactions as well as wider Financial Institutions and Corporate clients.
• Working knowledge of Operational Risk Management.
• Languages: you should be able to speak fluent English and either Luxembourgish, German or French.
• 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.
• 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.
• 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 applying situational judgement and experience to advise on a broad range of cultural topics.

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!