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Non Executive Directorships

Chair of the Board Audit and Board Risk & Compliance Committees

Location: London

Date Posted: 19/11/2019

Closing Date:

As an Independent Non-Executive Director (INED), you will have a shared responsibility for the governance of the Bank, with specific responsibilities for chairing two key committees, the (i) Board Audit Committee (BAC); and (ii) Board Risk and Compliance Committee (BRCC).

Position: Non-Executive Director – Chair of the Board Audit and Board Risk & Compliance Committees

Location: City of London

About us:

We are a leading foreign bank based in the City of London. The Bank’s principal activities are the provision of Correspondent Banking, Trade Finance and International Payments, Corporate Banking, Treasury and Retail Banking. Deposits are raised from personal, corporate and institutional customers in the form of current, savings, call and fixed deposit accounts. Lending activities are confined to corporates, government and financial institutions utilising a wide range of products including syndicated and bilateral loans, overdrafts, structured trade finance facilities, discounted letters of credit and fixed income products

Job Summary:

As an Independent  Non-Executive Director (INED), you will have a shared responsibility for the governance of the Bank, with specific responsibilities for chairing two key committees, the (i) Board Audit Committee (BAC); and (ii) Board Risk and Compliance Committee (BRCC). Generally, as a director of the Bank, you will:

  • Strategy

Contribute to the formulation of the Bank’s strategy. You will constructively challenge and provide strategic guidance and help to develop proposals on strategy based on any specialist knowledge and experience that you possess

  • Performance

Scrutinise the performance of executive management in meeting agreed goals and objectives and hold management to account

  • Risk

Monitor the integrity of financial information produced by the Bank and satisfy yourself that the systems of internal control and risk management are robust and defensible

  • People

Determine appropriate levels of remuneration of executive directors and other senior management and have a prime role in appointing, and where necessary removing, executive directors (and other senior management) and in succession planning

  • Corporate Responsibility

Promoting a corporate responsibility to uphold, safeguard and promote the Bank’svalues particularly relating to ethics, integrity and social responsibility.

 

Duties & Responsibilities:

Chair of the BAC

Briefly, as Chair of the BAC you will be responsible, inter alia, for:

  • Safeguarding the independence of, and overseeing the performance of, the internal audit function, including the performance of a person approved to perform the Head of Internal Audit function on behalf of the Bank, in accordance with SYSC 6.2 (Internal audit) of the PRA Handbook.
  • for taking reasonable steps to ensure that every person involved in the performance of the outsourced internal audit function is independent from the persons who perform external audit, including:(a) supervision and management of the work of outsourced internal auditors; and (b) management of potential conflicts of interest between the provision of external audit and internal audit services;
  • Ensuring that financial information is accurate and that financial controls and systems of risk management are robust
  • Overseeing review on the appropriateness and completeness of the Bank’s system of internal control and ensures that the committee considers whether necessary actions are being taken to remedy any significant failings or weaknesses.
    • The appropriateness and completeness of the Bank’s statutory accounts and, ensuring that the Committee reviews significant areas of judgement.
    • arrangements made by Management for regulatory financial reporting and best practice requirements and ensure that the Committee effectively reviews Management responses to the auditors and regulators, as applicable
    • Reviewing the effectiveness of the Bank’s frameworks for receiving and treating complaints and concerns regarding accounting, internal accounting controls and auditing matters.
    • Appropriately monitors the working relationship between the external auditors and the Bank.
    • The scope, nature and effectiveness of the work of internal audit.

 

Chair of the BRCC

Briefly, as Chair of the BRCC you will be responsible, inter alia, for:

  • Responsibility for safeguarding the independence of, and overseeing of the performance of, the risk function, including the performance of a person approved to perform the Chief Risk function on behalf of the firm, in accordance with SYSC 7.1.21 R and SYSC 7.1.22 R (Risk control) of the PRA Handbook.
  • Safeguarding the independence of, and overseeing the performance of, the compliance function, including the performance of a person approved by the FCA to perform the compliance oversight function on behalf of the firm, in accordance with SYSC 6.1 (Compliance) of the PRA Handbook.
  • Overseeing the review of the effectiveness of the Bank’s risk management framework, risk governance arrangements and risk policies and associated procedures
  • Undertaking the role of ‘whistleblowing champion’, overseeing the integrity, independence and effectiveness of internal whistleblowing arrangements, including the protection of whistle-blowers from victimisation.
  • Reporting to the Board on how the Committee has discharged its responsibilities.

 

Time Commitment

Generally, as an INED, you are expected to be able to allocate sufficient time to meet the expectations of your role. As a Board Committee Chair, it is not unlikely that you will be required to commit additional time to effectively carrying out your role.  As a minimum, you will be expected to attend quarterly Board meetings though some additional hours may be needed in the course of the annual cycle in order to fully support the Board agenda

 

Candidate Requirements

  • Relevant university degree/ professional qualification from a recognized institution.
  • Recognized Auditing or Accounting Qualification/Accreditation
  • Extensive accounting/auditing experience, within the Banking or Financial Services sector
  • Risk management experience in an executive capacity and at Board level
  • Exposure to Compliance and financial crime matters
  • Generally, Board level experience in a large /complex/changing organisation;
  • Experience of high level organisational and governance skills including such things as strategic planning, financial management, risk management, organisational performance management.
  • Politically astute – able to grasp relevant issues underpinned by an understanding of developing partnerships and building relationships with other organisations.
  • Experience of achieving change management and transformation in a highly complex organisation, regulated environment.
  • Solid exposure to the UK Regulatory Environment from the point of view of a Foreign Bank.
  • Knowledge & exposure to the African banking sector
  • Interest passion in Africa

 

You will be a highly successful business leader who has a track record of operating at Board level and contributing to the success of market leading, financial services organisations.  You can demonstrate a career which clearly shows progression, commercial breadth and strategic involvement. Consequently, you will be able to bring to the bank:

  • Deep knowledge of UK retail and corporate/business banking with exposure to commercial lending and trade finance.
  • Strong understanding of risk, compliance and balance sheet management. Able to add value and effectively oversee the Bank’s activities; you will already be a risk committee member. We will consider serving executives (particularly CROs), first time NEDs as well as experienced NEDs.
  • In-depth knowledge of the changing policy and regulatory framework in UK financial services (prudential and conduct) as well as a commitment to corporate governance; you can also demonstrate a positive relationship and reputation with the UK regulators (PRA and FCA).
  • A track record of contributing successfully in other governance led Board roles (preferably within a small financial services institution and ideally some plc and international experience).  You will already be experienced in managing board level stakeholders, managing conflict and dealing with regulatory interaction and participation in sub-committee roles

 

Leadership skills/personal attributes:

  • Possesses integrity, strong customer ethos and values in line with the Bank
  • Thinks strategically and is able to see the Bank within the context it operates.  Brings a genuine independent perspective to enhance decision making and provide sound judgment (can absorb large volumes of information and still be able to identify the relevant important issues)
  • Commercial, financial acumen and an understanding of what makes a successful and sustainable business; able to think strategically and systemically
  • Highly developed interpersonal and communication skills, able to make a valuable contribution within formal Committee meetings, articulate points well and challenge constructively. Engages proactively and is culturally sensitive
  • Is learning oriented and possesses a strong desire to keep up to date with a continually changing environment and a willingness to adapt to change
  • An enquiring mind, with the confidence to challenge constructively;
  • Recognise the importance of supporting collective decisions and of balancing challenge with assurance and support;
  • Strong communication and listening skills;
  • Strong interpersonal skills – calm under pressure, able to challenge in a constructive manner, develop creative solutions, manage a wide variety of situations in a meeting and ensure that the outcomes are in the best interest of the organisation;
  • Strong financial and business acumen and the intellectual rigour to understand complex issues and risk quickly;
  • The ability to work with a wide range of individuals and organisations and build productive relationships;
  • Fully supportive of equal opportunities and minority interests;
  • Strong commitment to public service values of accountability, openness, probity and equality of opportunity.

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