Barclays
Risk & Controls Oversight Senior Lead - Third party and LRR Risk
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Risk & Controls Oversight Senior Lead – Third Party and LRR Risk
About the Role
As a Risk & Controls Oversight Senior Lead for Third-party and LRR (Legal, Regulatory, and Reputation) Risk, you will provide expert oversight to ensure the bank’s risk management and control practices are robust, compliant, and effective. This role acts as a critical bridge between the Customer & Digital Team, Chief Operating Office (CCO), second-line and third-line risk partners, and other stakeholders, driving alignment on risk governance, controls effectiveness, and emerging threats.
Your responsibilities will include:
- Developing and assessing risk appetite, while leading conversations on risk acceptance.
- Ensuring controls are designed and monitored effectively, embedding a proactive risk management culture.
- Conducting ongoing control assessments to maintain audit readiness and prepare governance reports.
- Aligning controls with LRR obligations, regulatory standards, and Customer & Digital journeys.
- Identifying opportunities for data-driven controls monitoring and automation.
- Staying ahead of market trends and emerging risks while driving engineered education based on internal/ external insights.
You will also ensure compliance with frameworks such as RCSA, Issue Management, and Risk Events Management, operating within the broader Operational Risk framework.
Key Responsibilities
- Assess the integrity and effectiveness of the bank’s internal control framework, mitigating operational, financial, and reputational risks.
- KPIs & Reporting:
- Document control assessments, procedures, and findings for stakeholder reviews.
- Develop agile reports on control weaknesses, risks, and recommendations for senior management.
- Risk & Control Improvement:
- Identify control gaps and underlying risks, prioritising interventions based on impact.
- Drive controls excellence through test data, analytics, and automation (e.g., KRI dashboards).
- Strategic Risk Management:
- Align risk strategy with the Business Unit’s vision (e.g., Barclays Customer & Digital goals).
- Influence stakeholders at Managing Director level on risk appetite, compliance, and governance.
- Third-party & LRR Risk Governance:
- Oversee onshoring, offshoring, supply chain risks, and Fourth-party dependencies.
- Understand and ensure alignment with LRRs (Legal, Regulatory, and Reputational Risks).
- Operational Excellence:
- Ensure compliance with Barclays Controls Framework and regulatory expectations.
- Conduct end-to-end risk assessments (including KYC, outsourcing, sub-vendor risks).
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Requirements
Essential Experience
- A deep understanding of retail banking Customer Journeys, including risk datasets, control interactions, and governance nuances.
- Proven expertise in data analytics, data science, and automation within risk management processes (e.g., anomaly detection, predictive risk modelling).
- End-to-end third-party lifecycle risk management:
- Due diligence, ongoing monitoring, exit strategies.
- Critical vendor dependency and concentration risk assessment with mitigation strategies.
- Fourth-party risk visibility: Assessing sub-contractor networks beyond nth degree threats.
- Ability to balance risk management with business objectives when defining Risk Appetite.
- Ability to lead influence across echelon to negotiate risk acceptance or mitigation strategies internally.
- Must be a subject-matter expert in controls testing, compliance with frameworks like BS11579 and audit readiness practices.
- Legal/Regulatory awareness and experience across Third Country Risk, Operational Risk, and Cyber Risk (strings of eTLS to a diversified strategy).
Desired Qualifications
- A university degree (or equivalent professional qualifications e.g., FRM, BSc Risk, actuarial qualification, etc.).
- Experience in big four or industry leading consultancies in critical assurance assignments (Scenario Evaluation, Framework development, and AI work).
Leadership & Skills
- Self-motivated with the ability to educate others on risk cultures and mechanisms.
- Demonstrated innovation in risk processes (e.g., integrating AI/ML to predict/update risks in real-time).
- Strong influence, problem-solving, and consultative leadership across multiple hierarchies.
- Ability to collaborate effectively with teams spanning Risk, Controls, Legal, and ComOps, Information Security.
- Hold/exercise relevant licences e.g., market abuse prevention licensing where applicable.
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Benefits
Deferred to separate document – details linked per Barclays standard package.
Vice President Accountabilities – Strategic Expectations & Leadership Behaviours
Your role aligns with Barclays’ Vice President requirements, including:
Strategic Responsibilities
- Set and drive strategic requirements for risk management (dongle with Customer & Digital transformation).
- Recommend **policy changes, budgets, and_. resources allocation_ based on risk assessments and operational insights.
- Lead long-term cultural and process improvement, with decisional-wisdom based on critical avoiding estimation bias.
Peer & Team Leadership
- Define roles/responsibilities and develop people performance/career pathways (if applicable).
- Act as an industry thought leader, addressing pivotal issues facing risk and compliance (e.g., “Risk Prevention Strategy”).
- Coach nex-gen risk professionals or data scientists, enhancing Data Risk Competence Teams.
Stakeholder Collaboration
- Engage board-level counsel on risk/reward tradeoffs for strategic decisions (hence Reputational Risk messaging).
- Advise Internal Audit, Audit Committees on system-wide concurrent risks with agile response mechanisms.
- Use analytical rigor to manipulate complex system signals, shaping resilience roadmaps.
Non-negotiables: Full adherence to Barclays Values and Barclays Mindset (Empower, Challenge, Drive):
- Respect, Integrity, Service, Excellence, Stewardship – core behaviors expected daily.
- Demonstrating the four LEAD Behaviours:
- L – Listen and be authentic (active engagement with concerns).
- E – Energise and inspire (motivation across teams).
- A – Align (cross-enterprise clarity).
- D – Develop others (mentorship in leadership and risk awareness).
Location
This role is available in London or Northampton. Hybrid or full remote (TBC based on temporary geography restrictions‘ for some audits).
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