Operational Risk & Controls Testing Consultant

ZipRecruiter; Cardiff; Hybrid; GBP 60,000 - 80,000; Full time

Job summary

A high-end consulting firm in Cardiff is seeking an Operational Risk & Controls Testing Consultant. This hybrid position involves evaluating operational controls in retail banking, partnering with stakeholders to ensure effective risk management. Candidates should have experience in operational risk management and a background in banking. The firm values collaboration, growth, and integrity, and promotes a flexible work environment.

Benefits

Supportive culture

Continuous training and development

Flexible working model

Qualifications

• Proven experience in operational risk management within retail banking.
• Strong controls testing experience.
• Familiarity with Risk & Control Self-Assessments (RCSA) and incident management.

Responsibilities

• Design and execute control testing plans.
• Evaluate existing controls against operational risk exposures.
• Support the delivery of an effective Risk Management Framework.

Skills

Operational risk management

Controls testing

Stakeholder management

Analytical skills

Education

Professional qualifications in Risk Management

Tools

Xactium

Power BI

MS Excel

PowerPoint

Job description

Job Description

Operational Risk & Controls Testing Consultant

Cardiff (Hybrid) x2 Days on-site

£300-£400

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 have created a culture of openness and integrity by building genuine and strong relationships and partnerships, enabling us to be uncompromising in our dedication in delivering the optimal service for our clients. Our commitment is not just towards our clients but we aim to foster a positive and equitable working environment with our consultants and colleagues which stems from our core values: 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; instead, 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:

To succeed in this role you will need:

• 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 (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 and as your career progresses, you can expect to work across all areas of the project lifecycle, from strategy to implementation. This will provide you with a broad base of experience from which to build an outstanding career.

Our Culture:

• Providing our people with a supportive culture, rooted in our values and driven by our purpose.

• Promoting a culture of collaboration, well-being, and learning and development.

• Providing increased agility and flexibility within our hybrid working model.

• Investing in employees’ growth through ongoing training and development.

• Autonomy to take ownership of projects, making decisions and demonstrating individual expertise.

• Providing a transparent performance and career management experience.

emagine is an equal opportunity employer, and employment practices are based strictly on merit.