Project Risk Specialist – Application Migration (Payments)

Work that makes a difference

Opportunity for an experienced Technology Project Risk (Risk in Change) Specialist to support a major Core Modernisation Program in the Bank, working directly with the Program’s Payments & Settlements Migration workstream to provide Risk Management support and technology risk expertise.

Objective

The Project Risk Specialist role is accountable for ensuring that the Banks Risk Management frameworks are adhered to by recognising, assessing, and tracking risks throughout their lifecycle through to BAU transition/handover in order to manage the risk to an acceptable level.

Your Team

As a key member of a newly created team, you will be part of the foundations to build and grow this new practice. The Risk and Compliance Department supports the consistent and effective application of the Bank's framework for managing risk and compliance obligations, both at the enterprise level and for individual business units across the Bank. It also advises on and implements the risk management framework governing the Bank’s operations in financial markets.

Description

The role lies within the Program Structure, within the Payments & Settlements Migration workstream, providing specialised advisory on matters of risk and assurance and the management of delivery and delivered risks, in line with the procedures described in the Bank’s Risk and Compliance Management Framework.  You will also ensure all relevant reviews are considered including working with the second line project assurance team. 

A key emphasis lies in fostering a risk conscious atmosphere among project teams, motivating individuals to embrace a constructive and forward-thinking approach to risk management.

Project Risk Specialists (PRS) bring a multifaceted skill set that complements and enhances the role of project managers. By actively engaging in risk management throughout the project lifecycle, as a part of Line 1, ensuring that risks are not just identified, but effectively addressed and monitored. Their ability to foster collaboration within the Program, engage with Risk Managers (Line 1 and Line 2), and facilitate routine risk workshops contributes to a culture of risk awareness and proactive management. Additionally, their expertise in risk reporting and documentation guarantees that stakeholders are well-informed and risk-related decisions are grounded in reliable information.

Risk Management Throughout the Project Lifecycle:

1.  Recognizing, Evaluating, and Tracking Risks: The PRS will work with the Program team to ensure that risks are identified from the outset and evaluated in a comprehensive manner. Their expertise allows them to delve into the complexities of potential risks that might not be immediately apparent. These risks will be tracked meticulously to prevent any surprises later in the project.

2.  Overseeing Mitigation Actions:  PRS will not just assist in recognising risks, but also lead the development and implementation of mitigation strategies. This proactive approach will address risks before they escalate, minimizing potential disruptions and negative impacts.

3.  Fostering Collaboration:  PRS will collaborate closely with project teams, ensuring that relevant stakeholders are engaged in the risk management process. This will include the participation of Business Risk Managers who possess specialized insights into specific risks and controls.

4.  Facilitating Routine Risk Workshops:  PRS will conduct regular workshops to address emerging risks and ensure that the project team remains vigilant. These workshops will provide a platform for open discussions, enhancing risk awareness across the board.

Risk Reporting and Documentation:

1.  Developing and Maintaining Risk Logs:  This documentation ensures that risks are not only identified but are also tracked and managed effectively.

2.  Monthly Status Reporting and Steering Committee (SteerCo) Reporting:  PRS will assist the program team in the creation of regular status reports that highlight the current state of delivery risks, ongoing mitigation efforts, and any changes in risk assessments. The PRS will be responsible for drafting the delivered risk reporting. These reports will be invaluable in keeping stakeholders informed and providing the SteerCo with a clear understanding of the program’s risk landscape and ensures that the program’s risks align with the overall risk management strategy of the organization.

Your background

To be successful in this critical role you will possess:

• Advanced knowledge of technology risk with strong experience in application and data migrations is high