Head of Risk - Glasgow, United Kingdom - Verastar Limited

Verastar Limited

Verified Company

Glasgow, United Kingdom

1 week ago

Posted by:

Tom O´Connor

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Description

Role Profile

Supported by the General Counsel, the Head of Risk Management will deliver and implement an effective Enterprise Risk Management (ERM) strategy, enabling our Group, which has five regulators - Ofcom, Ofgem, Ofwat, WICS and the FCA - to minimise operational and other surprises, seize opportunities for process improvement and gain competitive advantage.

The role requires strong commercial awareness and the pragmatic implementation of risk in a commercial setting.

Responsibilities of the role

Implement and lead our Verastar Group Enterprise Risk Management (ERM) strategy
Work closely with the business to coordinate and assist in the implementation of a Risk Management policy / framework, delivering a consistent approach across the Group
Establish Verastar's 'risk appetite' and ensure that risk approach is followed
Chair and drive an informed and effective Internal Risk Committee (IRC), established to help the Executive to fulfil its enterprise risk management responsibilities. The IRC should create a clear delineation between risk management by frontline teams and risk oversight conducted by the risk function. The IRC will develop actionable reporting around the critical risks and how they are being managed
Be responsible for the development and maintenance of the risk & control selfassessment tools and dashboards, including, at the appropriate time, the introduction of fitforpurpose software, e.g., a Governance, Risk & Compliance IT system
Work with the General Counsel to embed a riskaware culture, supporting the Board, Executive and Senior Leadership team to understand and address the risks to business strategy and operations
Assist with managing the risk incident processes
Perform root cause analysis following risk incidents, using outputs to identify emerging risks
Maintain processes, policies, procedures and records which meet business and regulatory requirements and provide regular risk reports to the board/the Risk and Ethics Committee/other stakeholders
Horizon scan to increase awareness of risks affecting our business, ensuring the Executive/Senior Leadership team are kept up to date with regulatory, legislative and best practice changes. their obligations and how they impact the Group
Act as a role model for Verastar's operating standards and values at all times.

Success Measures

An effective enterprise risk management plan is in place, allocating the appropriate amount of resources dependant on the size of the risk and focusing on the most important risks
Risk management KRIs /metrics are in place to track and measure the risks within the business
Risk policies and strategies are successfully implemented, and objectives are met over time
Risks are identified as early as possible, helping the business to avoid or mitigate that risk in the future and/or minimise its impact
Reduced vulnerability to adverse events
Dialogue between equity partners, board and senior leaders is properly focused and in sync with how the business is run and risk managed
Internal reviews are used effectively to ensure internal controls are working properly, with reports identifying weaknesses and recommendations

Experience

Implemented and led an effective ERM strategy in a medium or large business, preferably one with regulatory requirements
Previous experience managing and leading risk professionals
Relatable and positive experience of working in a fastpaced, constantly changing organisation
Proven history of building and maintaining strong relationships and using strong interpersonal skills and ability to gain credibility to build, lead and manage the risk framework
Significant experience conducting risk assessments within multiple categories of risks e.g. operational, financial, governance, strategic, external and outsourcing (thirdparty risks)
Demonstrable knowledge of current risk management models, developing KRI's, assessing control effectiveness, and developing management and board reporting
Ability to effectively manage a sizeable workload with the requisite organisational skills.

Skills

The drive and resilience required to influence the direction and support change.
Team player with a track record of building strong, effective working relationships both internally and externally.
Excellent communicator (verbal and written), able to work at all levels of the business with the confidence and credibility to gain and maintain respect.
Common sense and pragmatic approach when providing advice, with an ability to find commercially minded appropriate solutions.
Ability to work independently, with mínimal supervision.
Selfmotivated and proactive, with a "can do" approach and a high level of initiative and persistence.
The desire to continually learn and to improve both self and the team.
The ability to help others develop and grow in their roles.
Excellent organisational skills with proven ability to