Head Of Function, Operational Resilience

The Central Bank of Ireland serves the public interest by safeguarding monetary and financial stability and by working to ensure that the financial system operates in the best interests of consumers and the wider economy.We currently have a vacancy in our Governance and Operational Resilience Division within the Prudential Analysis and Inspections Directorate. We are seeking a Head of Function – Operational Resilience, on a contract of indefinite duration. The role is aligned with the Head of Functiongrade and the HOF salary scale, between €134,803 and €149,607 applies. Please click here for further information on our salary scales.The division supports the supervision of the financial sector by deploying risk expertise and a cross-sectoral perspective for non-financial risks such as governance, risk management information technology/cyber, operational and outsourcing risk. This includes the direct provision of expertise through inspections, thematic reviews, risk assessments, advisory, training and secondments.The teams of risk specialists lead collaboration across the organisation to develop and deliver supervisory frameworks, to drive improvements in cross-sectoral areas such as the financial sector’s operational resilience within firms. This collaboration also extends to engaging with peers throughout the European System of Financial Supervision in order to influence and leverage the policies and processes that underpin financial regulation and supervision across the EU.This role is an excellent opportunity to maximise the impact of dedicated risk specialists, to leverage insights and horizon scanning perspectives to identify emerging issues, and develop supervisory strategies to drive improvements in the resilience and effective functioning of the financial system.The Head of Function – Operational Resilience role holder will take particular responsibility for leading teams of risk specialists in the areas of technology risk, operational resilience, operational & outsourcing risk and business model risk. This role will focus on enhancing approaches to operational resilience in the financial services sector and individual firms, through the pro-active identification of threats and vulnerabilities, and assessment of response strategies. The role holder will manage and lead the division together with the Head of Division and another Head of Function. The role also has the following responsibilities, requirements and interpersonal skills:Responsibilities:

• Taking a lead role in developing the supervision strategy for the relevant risk areas across Regulation & Supervision, while working in partnership with supervisors. The objective being to create an operationally resilient system where firms are well governed, have effective cultures, with effective risk management and control arrangements.
• Creating an environment where people can develop to their full capability, and where the principles and behaviours of the Bank are lived. Working with the people managers to develop, coach and manage team members to achieve the required performance standards.
• Translation of supervisory strategies into annual work programmes and delivering the annual plan, through teams of risk specialists. Execution of this plan using various approaches including inspections, thematic analysis, risk assessments, and advisory in accordance with agreed supervisory strategies.
• Engaging decisively with financial services firms at a senior level in support of teams achieving the desired supervisory outcomes, and help lead the Bank’s engagement with industry, including pro-actively engaging with the sectors.
• Leveraging the subject matter expertise of risk specialists to drive improvements and promote the evolution of regulatory and supervisory approaches, by developing, enhancing and implementing supervisory frameworks.
• Managing senior level engagements with stakeholders so that key relationships are maintained and leveraged. This includes relevant areas within the Bank, e.g. supervisory divisions, Policy and Risk, Financial Stability etc.; as well as representing the Bank at relevant meetings within the European System of Financial Supervision and with international peer regulators.
• Contribute to the development of the overall strategy for the Division and the Directorate to ensure the objectives and strategic outcomes for the Directorate, Financial Regulation and the Central Bank as a whole, can be realised.

Requirements:

• Broad and relevant experience in financial regulation and/or relevant financial services of which: at least 5 years leading and managing a team of professionals at a senior level.
• Relevant experience includes but is not limited to: working in supervision, working in the financial services sector, experience of risk-management functions, supervisory policy, inspections or audit (internal or external).
• Cross-sectoral knowledge is an advantage. At a minimum in-depth experience in one of the following sectors - insurance, banking, payment firms, investment firms or funds.
• Practical experience of risk management and internal controls, specifically in the areas of:
  • Technology Risk (IT), including information and communication technology (ICT) and security risk, and cyber incidents;
  • Operational Resilience (non-digital and digital);
  • Operational risk (non-IT) and outsourcing risk, and
  • Threats to the viability and sustainability of business models.
• Experience of risk management in cloud service providers, knowledge of governance & risk management in relation to Artificial Intelligence (AI), and/or an understanding of the payments eco-system in Ireland and Europe would be advantageous.

Interpersonal skills:

• Leading people through change and delivery of key projects relevant to the Directorate.
• Strong people management, coaching and leadership skills including the ability to manage through people in ‘matrix style’ working.
• Excellent verbal and written communication that can be tailored for a wide variety of contexts.
• Excellent capability in managing contentious issues.
• Acting professionally, ethically and with integrity including being an exemplar for key principles and behaviours.

We know it's our people who make the Central Bank special and we are focused on creating a diverse, inclusive, fulfilling and progressive work environment. We encourage applications from candidates with different backgrounds, experiences and perspectives as it strengthens us, as individuals and as an organisation. We are committed to positively supporting candidates with disabilities. If we can make any reasonable accommodations for you in the recruitment process in order to give you the opportunity to perform to your best, please let us know. Any information that you provide will be used only for the purposes of providing relevant support and will have no bearing on how your application will be viewed. We have recently implemented a hybrid working model to balance the flexibility working from home provides with the value our office environments bring to support collaboration and connection with colleagues. Our approach to hybrid working enables colleagues to work from home up to 50% of working days, building on an existing broad range of flexible working policies and practices already in place to support our people achieve the right balance. Our policies also provide insight into our organisational culture, work environment and working arrangements. Here are some of the key policies (subject to ongoing review and amendment) which may be of interest as you consider a career with us.The Central Bank pension scheme mirrors the rules of the civil service pension scheme. Therefore if you are in receipt of civil/public service pension, abatement may apply to your current pension. Details of the appropriate pension scheme will be provided upon determination of the appointee’s status.Application Details: Closing Date: 17th April 2024To apply, please complete the application form attached (via the “apply” link). Before starting your application you will be asked to create a profile with us, this will allow you to track and review your application throughout the process. Click "register" to create a profile and complete the application process.Once your application has been successfully submitted you will receive an automatic email from us acknowledging receipt. If you do not receive this auto-acknowledgement, please contact recruitment@centralbank.ie.Cuirfear fáilte roimh iarratais i nGaeilgeThe Central Bank of Ireland is an equal opportunities employer.