Operational Risk Manager – Legal Portfolio Oversight

Deutsche Bank; City Of London; Hybrid; GBP 70,000 - 90,000; Full time

Job summary

A leading global bank seeks an Operational Risk Manager to oversee Legal Loss outflow and integrate risk assessment insights into planning. The ideal candidate should have strong operational risk management experience, excellent communication skills, and the ability to build effective relationships. This role offers a competitive salary, hybrid working model, and a range of benefits including training and development opportunities.

Benefits

Hybrid Working

Competitive salary

Private Healthcare

30 days’ holiday plus bank holidays

Flexible benefits

Qualifications

• Experience in first line risk & control, second line risk function or Audit.
• Ability to distill complex content into simple messaging for senior audiences.
• Flexibility in handling multiple tasks with excellent prioritization skills.

Responsibilities

• Oversee and monitor the Legal Loss outflow at the Group Risk Profile level.
• Coordinate and provide updates into Quarterly and Annual Group reporting requirements.
• Build effective relationships with stakeholders within ORM and across the Bank.

Skills

Operational Risk Management principles

Understanding of Case Law and Legal provisions

Interpersonal and stakeholder management skills

Analytical and communication skills

Organizational skills

Team player

Job description

Job Description

Job Title Operational Risk Manager – Legal Portfolio Oversight

Location London

Corporate Title Vice President

As the Legal Portfolio Oversight Risk Manager, you will work with Operational Risk Management (ORM), a 2nd Line of Defence function ensuring the bank’s operational risk exposure aligns with group-wide risk appetite and framework.

Your focus is on Legal Loss Outflows, driven by various operational risk types. You’ll lead stakeholder coordination to integrate Legal Risk Assessment insights into financial, risk, and capital planning—particularly through prudent downside assessments. Key stakeholders include Legal (determining baseline Legal Risk Assessments, provisions and contingent liabilities), Group Strategic Analytics (calculating Legal Loss Outflow Downsides on portfolio level and OR capital), Finance Planning & Performance Management (determining legal loss plan including downside) and Solvency Management (outlining capital mitigation plan based on downside impact).

What we’ll offer you

A healthy, engaged and well-supported workforce are better equipped to do their best work and, more importantly, enjoy their lives inside and outside the workplace. That’s why we are committed to providing an environment with your development and wellbeing at its centre.

You can expect:

• Hybrid Working - we understand that employee expectations and preferences are changing. We have implemented a Hybrid Working Model that enables eligible employees to work remotely for a part of their working time and reach a working pattern that works for them

• Competitive salary and non-contributory pension

• 30 days’ holiday plus bank holidays, with the option to purchase additional days

• Life Assurance and Private Healthcare for you and your family

• A range of flexible benefits including Retail Discounts, a Bike4Work scheme and Gym benefits

• The opportunity to support a wide-ranging CSR programme + 2 days’ volunteering leave per year

Your key responsibilities

• You will oversee and monitor the Legal Loss outflow at the Group Risk Profile level, leading independent challenge activities as defined by the Risk Management Frameworks to ensure confidence in the quality of OR outputs leveraged for decision-making.

• You will understand Legal cases and provide review and challenge on the outcome assumptions and probabilities assigned by the Legal team

• You will coordinate / provide timely and accurate updates into Quarterly and Annual Group reporting requirements.

• You will build and maintain effective relationships with relevant stakeholders within ORM and across the Bank including Legal and risk type controllers.

• You will participate in the continuous improvement of the Portfolio Risk Management team by being an active collaborator and trusted partner.

Your skills and experience

• Understanding of Operational Risk Management principles and practices with relevant experience gained in first line risk & control role, second line risk function or Audit.

• Understanding of Case Law, Legal provisions and how they inform risk and capital processes with relevant experience gained in first line risk & control role, second line risk function or Audit.

• Excellent interpersonal and stakeholder management skills and a desire to work collaboratively to facilitate successful risk management within the 3 lines of defense (3LoD) model.

• Strong analytical and communication skills (verbal/written) and ability to distil complex content into simple messaging to senior audiences.

• Demonstrate flexibility in handling multiple tasks, excellent organizational skills, ability to prioritize.

• Excellent team player with strong work ethics, combined with a strategic and proactive work approach, able to motivate others and work independently

How we’ll support you

• Training and development to help you excel in your career

• Flexible working to assist you balance your personal priorities

• Coaching and support from experts in your team

• A culture of continuous learning to aid progression

About us

Deutsche Bank is the leading German bank with strong European roots and a global network. We welcome applications from all people and promote a positive, fair and inclusive work environment.

Deutsche Bank in the UK is proud to have been named in The Times Top 50 Employers for Gender Equality 2024 for five consecutive years. Additionally, we have been awarded a Gold Award from Stonewall and named in their Top 100 Employers 2024 for our work supporting LGBTQ+ inclusion.

We strive for a culture in which we are empowered to excel together every day. This includes acting responsibly, thinking commercially, taking initiative and working collaboratively.

Together we share and celebrate the successes of our people. Together we are Deutsche Bank Group.

We welcome applications from all people and promote a positive, fair and inclusive work environment.