Operational Risk Analyst

Kroo Bank; Manchester; Hybrid; GBP 60,000 - 85,000; Full time

Benefits offered by this job

Annual leave 25 days

Private healthcare

Pension, 5% employee

Hybrid working

MacBook laptop provided

Volunteering time

Cycle to Work

Office in Manchester

Job summary

Kroo Bank is seeking an Operational Risk Analyst in Manchester or London to help develop and maintain the bank's operational risk management framework across the second line of defence. You will provide risk advice, challenge, and oversight, supporting teams to identify, assess, monitor and report operational risks.

The role requires strong analytical skills, experience with risk events, RCAs, KRIs and a proactive approach to improving controls and reporting to senior management and the Board.

Qualifications

• Experience in operational risk, risk management or related assurance role, ideally in banking or financial services.
• Understanding of operational risk frameworks and the responsibilities of 1st and 2nd lines of defence.
• Experience identifying and assessing risks, reviewing controls and recommending improvements.
• Familiarity with risk and control self assessments, risk events, issues management and KRIs.
• Ability to assess the design and effectiveness of controls and document findings clearly.
• Strong analytical skills to interpret data, identify trends and make practical recommendations.
• Ability to prepare accurate reports for senior stakeholders.
• Clear communication to explain risk matters in straightforward terms.
• Good attention to detail and organisational skills to meet reporting deadlines.
• Ability to work collaboratively across teams with independent risk oversight.
• Proactive and inquisitive approach with sound judgement and willingness to learn.
• Awareness of the UK regulatory environment banks operate in.

Responsibilities

• Develop and maintain Kroo's operational risk management framework.
• Provide advice, oversight and challenge to help teams identify, assess, monitor and report risks.
• Coordinate risk events and issues process with clear owners and progress reporting.
• Review events to identify recurring themes and preventive improvements.
• Plan and conduct testing to ensure controls are designed and operating effectively.
• Monitor key risk indicators and escalate emerging risks where necessary.
• Analyse risk data and prepare management information for senior management and the Board.
• Produce monthly and quarterly risk reporting on events, losses and trends.
• Provide second line advice on projects and new products to identify risks and controls.
• Collaborate across the bank to ensure consistent application of the framework.

Skills

Operational risk management

Risk reporting

Data analysis

Stakeholder communication

Regulatory awareness

Job description

At Kroo Bank, we're building a better bank from the ground up. One that puts customers first, treats money responsibly and uses technology to make everyday banking simpler, fairer and more transparent. We're a fully regulated UK bank, backed by long term investors, with a growing customer base and big ambitions. We move fast, think carefully and hold ourselves to the highest standards, whether that's how we engage with our customers, build products, manage risk or look after our people. Please note that we have one position available and are considering candidates based in either Manchester or London. Our Manchester office is on Deansgate in central Manchester.

How you will contribute and key responsibilities

As an Operational Risk Analyst, you will help develop and maintain Kroo's operational risk management framework and support a culture of risk awareness across the bank. Reporting to the Operational Risk Manager within the second line of defence (2LOD), you will provide advice, oversight and constructive challenge to help teams identify, assess, monitor and report their operational risks. Other responsibilities include:

• Support business areas in identifying and assessing operational risks, helping them understand their responsibilities and maintain effective controls
• Conduct operational risk assessments and reviews, identify control weaknesses and recommend practical improvements
• Help develop, maintain and implement operational risk policies and procedures
• Support the development of the risk and control self assessment (RCSA) process, providing oversight and challenge of risk assessments, controls and action plans
• Coordinate the risk events and issues process, ensuring records are accurate, actions have clear owners and progress is monitored and reported
• Review risk events and issues to identify recurring themes, underlying causes and opportunities to prevent similar incidents
• Plan and carry out testing and monitoring to assess whether controls are appropriately designed and operating effectively
• Help develop and monitor key risk indicators, highlighting emerging risks and escalating concerns where necessary
• Analyse operational risk data and prepare clear management information and reports for senior management and the Board
• Produce monthly and quarterly reporting on risk events, issues, operational losses, relevant external events and emerging trends
• Provide second line advice and challenge on projects, new products and features, helping teams identify risks and consider appropriate controls
• Work with colleagues across the bank to improve risk awareness and support consistent application of the operational risk framework

Requirements

• Relevant experience in operational risk, risk management, internal controls or a related assurance role, ideally within banking or financial services
• Understanding of operational risk frameworks and the responsibilities of the first and second lines of defence
• Experience of identifying and assessing risks, reviewing controls and recommending improvements
• Familiarity with risk and control self assessments, risk events, issues management and key risk indicators
• Ability to assess the design and effectiveness of controls and clearly document findings
• Strong analytical skills, with the ability to interpret data, identify trends and turn findings into practical recommendations
• Ability to prepare accurate reports and management information for different audiences, including senior stakeholders
• Clear communication skills, with the confidence to ask questions, provide constructive challenge and explain risk matters in straightforward terms
• Good attention to detail and organisational skills, with the ability to manage competing priorities and meet reporting deadlines
• Ability to work collaboratively across teams while maintaining an independent approach to risk oversight
• A proactive and inquisitive approach, with sound judgement and a willingness to learn
• Awareness of the regulatory environment in which UK banks operate and its relevance to operational risk

Benefits

What we offer:

• Annual leave: 25 days of annual leave, 8 bank holidays, 1 Kroo bank holiday on 24 June and 1 day off during the week of your birthday
• Personal days: 3 personal days to use as needed
• Volunteering: Up to 4 hours of employer sponsored volunteering time each month
• Mental health support: Access to Spill, our mental health support partner
• Workplace pension: A pension with a 5% employee contribution and a 3% employer contribution
• Equipment: A MacBook laptop and the equipment you need for hybrid working, with support towards your home office setup if required
• Office space: Access to our offices, including our workspace on Deansgate in central Manchester
• Cycle to Work scheme
• Electric Car scheme
• Enhanced parental leave to support employees starting and growing their families
• Development opportunities as the bank grows
• Private healthcare for you and your immediate family through Vitality

Hybrid Working

This role is based in Manchester, with attendance at our office on Deansgate in central Manchester expected once a week. Working hours are Monday to Friday, 9am to 5.30pm, combining remote working with time in the office to support collaboration and teamwork.

Diversity and Inclusion

We are committed to creating a diverse and inclusive workplace where everyone is valued, respected and supported. We welcome applications from people of all backgrounds and ensure reasonable adjustments are available throughout the recruitment process. Please let us know if you need any support or adjustments when applying.