Risk and Control Assessment
This is a new role in the Operational Risk Framework team (second line of defence) which will be responsible for designing, implementing and maintaining a Risk and Control Assessment (RCA) framework across the global T&S business as part of the new overall T&S Integrated Risk Management Framework (IRMF).
Where you fit in
The size and complexity of Shell Trading & Supply (T&S) has increased substantially over the past few years and the expectations around risk management from a regulatory perspective have also shifted for Energy trading. We are therefore strengthening the risk management capabilities of the organisation from a people, process, data and systems perspective in both the first and second lines of defence.
The Integrated Risk Management Framework (IRMF) is currently being developed under the Risk Management Approach (RMA) Programme under the T&S Risk Task Force. The RMA Programme is defining and integrating how all Operational and Compliance Risks will be managed, embedding the concept of “Three Lines of Defence” across the organisation and developing the various components of the IRMF. An integrated and consistent RCA framework is a key foundational component of the Integrated Risk Management Framework (IRMF).
The role will report to the new Head of Operational Risk Framework. It is anticipated that the role will be part of the RMA Programme under the T&S Risk Task Force until transition to BAU. The role is based in London. The majority of the Operational Risk Framework team is expected to be based in London providing expertise and support to T&S globally.
What’s the role
The role will interface with multiple stakeholders across T&S, including business teams, Governance & Assurance teams across RDS and Risk SME’s who act as Risk Type Advisers (RTA) for specific risk types in Risk, Compliance and RDS group functions. This role relates to the global T&S business with stakeholders primarily located in T&S hubs in London, Houston, Rotterdam, Dubai and Singapore. The role is expected to work closely together with peers in the T&S Operational Risk Coverage and Compliance teams.
It is expected that this individual will not have direct reports and will be required to indirectly deliver through others. The role will be supported and work in conjunction with the Specialist Risk and Control Assessment in the team. It is also anticipated that this role will manage and/or work closely together with temporary project resources supporting the design and development of the IRMF as part of the RMA.
More specific responsibilities include:
- Provide guidance and expertise to the T&S organisation on RCA framework topics
- Act as key SME for T&S on RCA best practice and RCA Methodology (incl. approach, process, tools, and contextual and reference data)
- Design and maintain an integrated and consistent RCA process for use across T&S and roll this out across businesses, legal entities and geographies, starting with the RMA RCA pilot across a small sub-set of trading desks in T&S
- Establish governance around RCA in T&S
- Establish version control of contextual and reference data
- Support the development, refinement and roll-out of the relevant modules of MetricStream as RCA SME
- Support the RCA reporting requirements as required by the Operational Risk Coverage team and commercial business teams
- Support the execution and completion of a comprehensive and holistic RCA as RCA methodology SME, starting with the RMA RCA pilot. This includes supporting the provision of contextual and reference Operational Risk Framework data
- Work with Risk Transformation team/RMA Change & Engage team to provide key insights into change and education materials and communications as required
- Promote a positive risk culture which supports a “Learner Mindset” around operational risk issues and encourages learnings from incidents
- Ensure outcomes are delivered cost effectively, with AI, automation and digitalisation where appropriate, such that they deliver true value to T&S
- Partner with the other team members in the Operational Risk Framework/RMA team to ensure alignment and drive collective change and to facilitate integration of controls methodology requirements into the overall RCA methodology
- Partner with the T&S Operational Risk Coverage team as key RCA methodology SME
- Partner with T&S Compliance to ensure ongoing cohesion of approaches, tools and templates
- Partner with controls SMEs in the business, functions and RTA teams
What we need from you
We’re keen to speak from individuals with experience of having implemented and embedded, or made changes to, a non-financial risk and control assessment framework at a peer institution (Investment Bank, Oil & Gas Major, Independent Commodity Trader). A qualified candidate must be a senior RCA SME. You’ll also bring in your knowledge of the global energy markets (Gas, Power, Carbon and Oil) and/or regulated trading business.
We also hope your CV will show as many of the following as possible:
- Technical knowledge of non-financial risk management
- Technical knowledge of the different components of an RCA generally employed as part of the non-financial risk framework within a complex trading organisation and ability to articulate “what does good look like?” to the rest of T&S.
- Clear understanding of the “3 Lines of Defence” model and segregation of duties for each LOD.
Proven ability to work in partnership with the 1st and 2nd line of defence to deliver pragmatic risk management solutions which are cost effective and relevant for the business.
You must be credible and persuasive in ensuring the needs of the business are fully understood. You’ll show your ability to interact with a wide range of stakeholders, resolve conflict and deliver tough messages and be able to navigate complex and dynamic environments.
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