Operational Risk & Controls Testing Consultant

Emagine Consulting Ltd.; Cardiff; Hybrid; GBP 60,000 - 80,000; Full time

Job summary

A professional services consultancy is seeking an Operational Risk & Controls Testing Consultant in Cardiff. This role focuses on assessing operational controls within retail banking, executing testing plans, and developing risk frameworks. The ideal candidate has strong skills in operational risk management and experience with risk assessments and reporting tools. A hybrid work model is offered, promoting flexibility and professional growth.

Benefits

Ongoing training and development

Flexible working model

Supportive culture and inclusion

Qualifications

• Proven experience in retail banking operational risk management.
• Strong experience in assessing operational and risk controls.
• Excellent analytical and problem-solving skills.

Responsibilities

• Design and execute control testing plans.
• Evaluate effectiveness of controls against risks.
• Support the development of risk and control frameworks.

Skills

Operational risk management

Controls testing

Risk & Control Self-Assessments

Analytical skills

Stakeholder management

Problem solving

Microsoft Excel

Power BI

Reporting tools

Education

Professional qualifications in Risk Management, Banking, Finance

Tools

Xactium

Power BI

MS Excel

PowerPoint

Job description

Operational Risk & Controls Testing Consultant

Emagine Consulting, Cardiff, United Kingdom

The Operational Risk & Controls Testing Consultant will play a pivotal role in assessing and assuring the effectiveness of operational controls within a retail banking environment. The focus is on evaluating whether existing controls are fit for purpose and identifying gaps.

Cardiff (Hybrid) 2 Days on-site

emagine is a high-end professional services consultancy and solutions firm specialising in providing business and technology services to the financial services sector. We power progress, solve challenges and deliver real results through tailored high-end consulting services and solutions.

We strive to build a culture of openness and integrity by developing genuine relationships and partnerships, aiming to deliver optimal service for our clients. Our core values are: Confident, Dedicated, Responsible, Genuine.

The Operational Risk & Controls Testing Consultant will play a pivotal role in assessing and assuring the effectiveness of operational controls within a retail banking environment. This is not a software testing role; the focus is on evaluating whether existing controls are fit for purpose, identifying gaps, and ensuring that the bank operates within its risk appetite.

The role involves partnering with stakeholders across the business, advising on control design, executing control testing plans, monitoring operational risk exposures, and supporting the ongoing development of a robust risk and control framework.

This role is ideal for candidates with a retail banking background and hands-on experience in operational risk, risk controls, and risk reporting.

The role

• Design, implement, and execute control testing plans across the business.
• Evaluate the effectiveness of existing controls against operational risk exposures and regulatory expectations.
• Identify control deficiencies, gaps, and opportunities for improvement, and report outcomes to key stakeholders.
• Support the ongoing development of continuous monitoring frameworks for key operational risks.
• Support the delivery of an effective Risk Management Framework, including Risk & Control Self-Assessments (RCSA) and Incident Management processes.
• Provide guidance and challenge to Risk and Control owners to ensure accountability and a clear understanding of their risk profile.
• Partner with assurance teams to review outcomes and ensure linkage between identified issues and the broader risk landscape.
• Build strong relationships with business areas, risk champions, and central functions to create a culture of risk awareness and effective controls.
• Provide training and coaching to stakeholders on control frameworks, RCSA processes.
• Maintain and develop risk information systems (e.g., Xactium, Power BI) to ensure accurate and timely reporting of risk, control, and incident data.

Key Skills and Experience

• Proven experience in operational risk management within retail banking, ideally in 1LoD or 2LoD roles.
• Strong controls testing experience, with a track record of assessing effectiveness of operational and risk controls.
• Familiarity with Risk & Control Self-Assessments (RCSA), incident management, risk monitoring, and KRIs.
• Experience in using risk management systems and reporting tools (e.g., Xactium, Power BI, MS Excel, PowerPoint).
• Sound understanding of risk management frameworks and regulatory requirements for non-financial risk.
• Excellent analytical, investigative, and problem-solving skills with strong attention to detail.
• Strong stakeholder management and influencing skills, able to build trust at all levels of the business.
• Ability to challenge the status quo and contribute to continuous improvement in operational risk practices.
• Professional qualifications in Risk Management, Banking, Finance, or related disciplines preferred (e.g., ICA, GARP, ORX).
• Strong MS Office skills; advanced Excel and PowerPoint proficiency required.

Our people

The ideal consultants will share our values and be aligned with our ways of working. As your career progresses, you can expect to work across all areas of the project lifecycle, providing a broad base of experience to build an outstanding career.

We pride ourselves on providing a supportive culture rooted in our values and driven by our purpose, promoting inclusion, collaboration, well-being, and learning and development. We offer flexibility within our hybrid working model and invest in employees’ growth through ongoing training and development.

Autonomy to take ownership of projects, make decisions, and demonstrate expertise, with a transparent performance and career management experience.

Our consultants work to deliver successful engagements and build lasting value for clients in areas such as solving complex problems, building strong client relationships, and collaborating across practices.

Equal Opportunity

emagine is an equal opportunity employer, and employment practices are based strictly on merit. It is the policy of the Company to give equal opportunity in employment regardless of sex, sexual orientation, marital status, race, age, disability, gender reassignment, pregnancy and maternity, religion or ethnic origin.