Operational Risk Director Recruitment

UK Operational Risk Director Recruitment

Specialised Senior Search for Operational Risk Director Appointments at UK FCA-Authorised Banks, UK FCA-Authorised Asset Managers, UK Insurance Firms and UK Selected FCA-Regulated Firms with Material Operational Risk Function Dimensions Across FCA Operational Resilience Framework, PRA Operational Risk Capital Framework, Basel III Operational Risk Framework and FCA SMCR Senior Manager Certification Regime SMF4 Chief Risk Function

A UK Operational Risk Director is the specialist senior operational risk function leader at a UK FCA-regulated firm with senior accountability for the firm’s operational risk framework leadership distinct from broader Director of Risk and Compliance scope (which extends across both risk and compliance functions in combined leadership) and distinct from C-Suite Chief Risk Officer (CRO) scope (which extends across the firm’s enterprise-wide risk leadership at C-Suite tier across operational risk, market risk, credit risk, liquidity risk, conduct risk, and adjacent risk dimensions). UK Operational Risk Director scope focuses specifically on the firm’s operational risk function leadership including operational risk framework leadership across the firm’s operational risk taxonomy, operational risk identification and assessment framework, operational risk measurement and reporting framework, operational risk capital framework intersection where applicable to UK PRA-authorised firms operating Basel III operational risk capital framework dimensions, UK FCA Operational Resilience framework leadership, UK third-party outsourcing risk framework leadership, UK operational risk incident management framework, UK operational risk governance framework, and the wider UK operational risk function leadership dimensions. UK Operational Risk Director appointments operate under the UK FCA Senior Manager Certification Regime (SMCR) framework with associated senior commercial accountability for SMCR conduct rules and SMCR senior manager regime engagement at SMF4 Chief Risk function tier where applicable to the firm.

This UK Operational Risk Director recruitment service page covers the senior UK Operational Risk Director recruitment context, the principal UK FCA-regulated firm scenarios for senior operational risk function leadership engagement (UK FCA-authorised banks operating with PRA Operational Risk Capital framework dimensions, UK FCA-authorised asset managers operating with material operational risk dimensions, UK insurance firms operating with PRA-authorised operational risk dimensions, UK selected FCA-regulated firms operating with material operational risk function dimensions), the senior commercial distinction between Operational Risk Director scope, broader Director of Risk and Compliance scope, and C-Suite CRO scope, the UK regulatory framework intersection with senior operational risk function leadership (FCA Operational Resilience framework, PRA Operational Risk Capital framework, Basel III/CRR Operational Risk framework, FCA SMCR framework engagement at SMF4 Chief Risk function tier, ISO 31000 risk management framework intersection, ORX Operational Risk eXchange framework intersection), the senior UK Operational Risk Director professional qualification framework (IRM Institute of Risk Management, ICA International Compliance Association, CFA, ACI Operational Risk, ORX framework engagement), the realistic compensation calibration, and adjacent senior UK risk and compliance recruitment engagement across the broader Exec Capital and FD Capital cross-portfolio architecture. Every senior UK Operational Risk Director search mandate at Exec Capital is led personally by Adrian Lawrence FCA.

UK FCA-Regulated Firm Scenarios for Senior Operational Risk Director Recruitment

UK Operational Risk Director appointments operate across the following principal UK FCA-regulated firm scenarios with senior commercial dynamics, sector-specific operational risk framework dimensions, and senior commercial structures specific to each UK FCA-regulated firm context.

UK FCA-authorised banks — PRA Operational Risk Capital framework — UK FCA-authorised banks (UK retail banks, UK commercial banks, UK challenger banks operating at material UK banking regulatory framework scale, UK PRA-authorised banks) operate with material operational risk function dimensions including UK PRA Operational Risk Capital framework intersection at Pillar 2 capital framework engagement, UK FCA Operational Resilience framework leadership at material banking commercial scale, UK third-party banking outsourcing risk framework leadership, UK banking operational risk incident management framework leadership at scale, UK banking operational risk taxonomy framework leadership across UK banking commercial dimensions, and the wider senior operational risk function dimensions specific to UK FCA-authorised banking firms. UK FCA-authorised bank Operational Risk Director scope typically operates at UK SMCR framework SMF4 Chief Risk function tier or as senior member of the SMF4-led risk function team with senior commercial accountability for operational risk function leadership at material UK banking commercial scale.

UK FCA-authorised asset managers — material operational risk function dimensions — UK FCA-authorised asset managers (UK FCA MIFIDPRU-authorised asset managers, UK FCA AIFM-authorised alternative investment fund managers, UK FCA UCITS-authorised UCITS managers) operating with material operational risk function dimensions frequently appoint Operational Risk Directors with UK asset management-specific senior operational risk function dimensions. UK FCA-authorised asset manager Operational Risk Director scope typically extends across UK MIFIDPRU operational risk framework intersection where applicable to UK MIFIDPRU-authorised firms, UK AIFM operational risk framework intersection where applicable to UK AIFM-authorised firms, UK asset management operational risk taxonomy framework leadership, UK asset management third-party operational outsourcing risk framework leadership including UK asset management depositary framework intersection at UCITS firms, UK asset management operational incident management framework leadership, and the wider senior operational risk function dimensions specific to UK FCA-authorised asset management firms.

UK insurance firms — PRA-authorised operational risk dimensions — UK insurance firms (UK PRA-authorised general insurers, UK PRA-authorised life insurers, UK Lloyd’s of London managing agents) operating with material operational risk function dimensions frequently appoint Operational Risk Directors with UK insurance-specific senior operational risk function dimensions. UK insurance firm Operational Risk Director scope typically extends across UK PRA Solvency II operational risk framework intersection at UK PRA-authorised insurers, UK insurance operational risk taxonomy framework leadership, UK insurance operational risk capital framework intersection where applicable, UK insurance third-party outsourcing risk framework leadership, UK insurance operational risk incident management framework leadership, and the wider senior operational risk function dimensions specific to UK insurance firms.

UK selected FCA-regulated firms with material operational risk function dimensions — UK selected FCA-regulated firms operating with material operational risk function dimensions (UK consumer credit firms operating at material commercial scale with FCA Consumer Duty intersection, UK payments firms operating at material commercial scale with FCA payments framework intersection, UK e-money firms operating at material commercial scale, UK selected FCA-regulated firms operating with material operational risk dimensions specific to the firm’s commercial business model) frequently appoint Operational Risk Directors with sector-specific senior operational risk function dimensions reflecting the firm’s commercial business model and FCA regulatory framework intersection.

Senior Operational Risk Director Scope vs Director of Risk and Compliance Scope vs CRO Scope

The senior commercial distinctions between Operational Risk Director scope, broader Director of Risk and Compliance scope, and C-Suite Chief Risk Officer scope operate principally across function scope dimensions and senior tier dimensions.

Operational Risk Director — specialist operational risk function leader — Operational Risk Director scope focuses specifically on the operational risk function as a distinct specialist senior leadership scope. Operational Risk Director scope is suitable at UK FCA-regulated firms operating at material commercial scale with operational risk function dimensions warranting specialist senior operational risk function leadership distinct from broader risk and compliance function leadership. UK Operational Risk Director appointments typically operate at UK FCA-regulated firms operating at scale where the operational risk function warrants specialist senior leadership.

Director of Risk and Compliance — combined risk and compliance function leader — Director of Risk and Compliance scope extends across both risk and compliance functions in combined senior leadership. Director of Risk and Compliance scope is suitable at UK firms operating at scale where combined risk and compliance senior function leadership is warranted by the firm’s commercial structure. For UK Director of Risk and Compliance Job Description reference covering combined risk and compliance senior leadership scope see Director of Risk and Compliance Job Description.

Chief Risk Officer (CRO) — C-Suite enterprise-wide risk leader — Chief Risk Officer scope extends across the firm’s enterprise-wide risk leadership at C-Suite tier across operational risk, market risk, credit risk, liquidity risk, conduct risk, and adjacent enterprise risk dimensions. CRO scope is suitable at UK FCA-regulated firms operating at material C-Suite tier with enterprise-wide risk leadership warranting C-Suite tier senior leadership. UK CRO appointments typically operate at UK FCA-authorised banks, UK PRA-authorised insurers, UK FCA-authorised asset managers operating at scale, and adjacent UK firms with C-Suite tier enterprise risk leadership designs. For UK CRO recruitment service engagement see CRO Recruitment; for UK CRO Job Description reference see Chief Risk Officer Job Description.

Chief Compliance Officer (CCO) — C-Suite compliance leader — for UK CCO senior search at the senior compliance function leadership at C-Suite tier see CCO Recruitment; for UK CCO Job Description reference see Chief Compliance Officer Job Description.

UK Regulatory Framework Intersection with Senior Operational Risk Function Leadership

UK Operational Risk Director appointments operate within the UK FCA-regulated firm regulatory framework with material framework dimensions specific to senior UK operational risk function leadership.

FCA Operational Resilience framework — March 2022 — the principal UK FCA operational resilience regulatory framework introduced March 2022 with associated senior UK Operational Risk Director accountability for FCA Operational Resilience framework application across UK FCA-regulated firm operations. FCA Operational Resilience framework dimensions include important business services framework leadership (identifying and mapping the firm’s important business services), impact tolerance framework leadership (setting impact tolerances for important business services), third-party operational outsourcing risk framework leadership, IT and operational mapping framework leadership, scenario testing framework leadership, lessons learned framework leadership, and the wider FCA Operational Resilience framework dimensions specific to senior UK Operational Risk Director scope.

PRA Operational Risk Capital framework — Pillar 2 capital framework — the UK PRA Operational Risk Capital framework operating at UK PRA-authorised firms with associated senior UK Operational Risk Director accountability at UK PRA-authorised firms for PRA Operational Risk Capital framework application. PRA Operational Risk Capital framework dimensions include UK PRA Pillar 2 capital framework engagement, UK PRA Internal Capital Adequacy Assessment Process (ICAAP) framework engagement at UK PRA-authorised banks, UK PRA Internal Capital Adequacy Assessment (ICAA) framework engagement at UK PRA-authorised insurers under Solvency II framework, and the wider PRA Operational Risk Capital framework dimensions specific to UK PRA-authorised firm Operational Risk Director scope.

Basel III / CRR Operational Risk framework — the international Basel III regulatory framework as implemented in UK regulation through the Capital Requirements Regulation (CRR) framework with associated senior UK Operational Risk Director accountability at UK FCA-authorised and UK PRA-authorised firms operating within Basel III operational risk capital framework scope. Basel III / CRR Operational Risk framework dimensions include UK PRA implementation of Basel III standardised measurement approach (SMA) for operational risk capital framework, UK PRA Pillar 1 minimum capital requirement framework intersection, UK PRA Pillar 2 supervisory review framework intersection, UK PRA Pillar 3 disclosure framework intersection, and the wider Basel III / CRR Operational Risk framework dimensions specific to UK firm Operational Risk Director scope.

FCA SMCR — Senior Manager Certification Regime engagement at SMF4 Chief Risk function tier — the UK FCA SMCR framework with associated senior UK Operational Risk Director accountability for SMCR framework engagement where the Operational Risk Director operates at SMF4 Chief Risk function tier or as senior member of the SMF4-led risk function team. FCA SMCR framework dimensions include SMF4 Chief Risk function senior manager regime engagement where applicable, SMCR Statement of Responsibilities framework, SMCR conduct rules framework engagement (Individual Conduct Rules and Senior Manager Conduct Rules), SMCR fit and proper framework engagement, SMCR Certification Regime framework engagement at certification function staff dimensions where applicable, and the wider FCA SMCR framework dimensions specific to senior UK Operational Risk Director SMCR engagement.

ISO 31000 — Risk Management framework — the international ISO 31000 risk management framework with associated senior UK Operational Risk Director intersection at UK firms operating ISO 31000 risk management framework. ISO 31000 framework dimensions include risk management principles framework, risk management framework process (mandate and commitment, framework design, implementation, monitoring and review, continual improvement), risk management process (communication and consultation, scope and context, risk assessment, risk treatment, monitoring and review, recording and reporting), and the wider ISO 31000 framework dimensions specific to senior UK Operational Risk Director scope.

ORX — Operational Risk eXchange framework — the principal international operational risk benchmarking and operational risk loss data sharing organisation with associated senior UK Operational Risk Director engagement at UK firms operating with ORX framework engagement. ORX framework dimensions include operational risk loss data benchmarking framework, operational risk taxonomy framework benchmarking, operational risk scenario framework benchmarking, operational risk practice benchmarking, and the wider ORX framework dimensions specific to senior UK Operational Risk Director engagement at ORX-member UK firms.

FCA Consumer Duty framework — at UK FCA-regulated firms operating retail-facing distribution dimensions, the FCA Consumer Duty framework introduced 31 July 2023 with associated senior UK Operational Risk Director intersection accountability where Consumer Duty operational delivery framework intersects with operational risk function dimensions including price and value operational risk framework, consumer understanding operational risk framework, consumer support operational risk framework, products and services operational risk framework, and the wider FCA Consumer Duty framework dimensions specific to senior UK Operational Risk Director intersection scope.

UK Operational Risk Director Compensation Calibration

UK Operational Risk Director compensation varies materially with UK FCA-regulated firm scale, sector, and senior accountability scope including SMCR SMF4 framework dimensions where applicable.

UK FCA-authorised bank Operational Risk Director — typical UK base salary range £150,000-£280,000+ at UK FCA-authorised bank Operational Risk Directors operating at material UK banking commercial scale, with bonus typically 25-60% of base aligned with UK banking variable remuneration regulation framework dimensions and selected long-term incentive arrangements. Total cash compensation typically £190,000-£440,000+ across cash and equity arrangements at UK FCA-authorised banks. UK PRA-authorised challenger bank Operational Risk Directors operating with PRA-authorised bank framework dimensions frequently operate at the upper end of the UK FCA-authorised bank Operational Risk Director compensation range.

UK FCA-authorised asset manager Operational Risk Director — typical UK base salary range £130,000-£220,000 at UK FCA-authorised asset manager Operational Risk Directors operating at material UK asset management commercial scale, with bonus typically 30-80% of base aligned with UK MIFIDPRU variable remuneration regulation framework dimensions where applicable. Total cash compensation typically £170,000-£400,000+ across cash and selected equity/carry arrangements at UK FCA-authorised asset managers. UK FCA AIFM-authorised alternative investment fund manager Operational Risk Directors and UK hedge fund Operational Risk Directors frequently operate at the upper end of the UK FCA-authorised asset manager Operational Risk Director compensation range with potential carry participation framework dimensions where applicable.

UK insurance firm Operational Risk Director — typical UK base salary range £140,000-£250,000 at UK insurance firm Operational Risk Directors operating at material UK insurance commercial scale, with bonus typically 25-50% of base. Total cash compensation typically £175,000-£375,000 across cash and equity arrangements at UK insurance firms. UK Lloyd’s of London managing agent Operational Risk Directors frequently operate at the upper end of the UK insurance firm Operational Risk Director compensation range.

UK Operational Risk Director Required Experience and Qualifications

UK Operational Risk Director appointments typically require senior operational risk career experience and qualification credentials across the following dimensions.

Senior UK operational risk career background — typically 12-18+ years of senior UK operational risk career experience including prior UK Operational Risk Director or senior Head of Operational Risk experience at peer UK FCA-regulated firms, prior UK senior operational risk leadership career background at UK FCA-authorised banks, UK FCA-authorised asset managers, UK insurance firms, or UK selected UK FCA-regulated firms with material operational risk function dimensions.

Sector-specific UK regulatory framework career background — UK Operational Risk Director appointments typically require sector-specific UK regulatory framework career background. UK FCA-authorised bank Operational Risk Director candidates typically come from UK banking career backgrounds with UK PRA Operational Risk Capital framework career experience; UK FCA-authorised asset manager Operational Risk Director candidates typically come from UK asset management career backgrounds with UK MIFIDPRU/AIFM/UCITS framework career experience; UK insurance firm Operational Risk Director candidates typically come from UK insurance career backgrounds with UK PRA Solvency II framework career experience.

SMCR SMF4 framework career background — UK Operational Risk Director appointments at SMF4 Chief Risk function tier or with SMF4-related career background dimensions typically require demonstrable UK SMCR framework career experience including prior SMCR Senior Manager regime career background where applicable, SMCR conduct rules framework career background, SMCR fit and proper framework career background, and the wider UK SMCR framework career background dimensions.

IRM — Institute of Risk Management qualification framework — the principal UK risk management professional qualification framework with IRM (Institute of Risk Management) qualification credentials operating as standard UK senior risk management professional credentials. IRM qualification framework dimensions include IRM International Certificate in Enterprise Risk Management (Level 3), IRM International Diploma in Enterprise Risk Management (Level 6), and IRM Fellowship operating as the senior IRM credential at senior UK risk management professionals.

ICA — International Compliance Association qualification framework — UK Operational Risk Director appointments at UK FCA-regulated firms with material UK FCA compliance framework intersection frequently include preferences for ICA (International Compliance Association) qualification credentials including ICA International Diploma in Governance, Risk and Compliance, ICA International Diploma in Anti Money Laundering, and adjacent ICA qualification framework credentials.

CFA — Chartered Financial Analyst qualification framework — UK Operational Risk Director appointments at UK FCA-authorised asset managers and UK FCA-authorised banks operating at material material commercial scale frequently include preferences for CFA Charterholder credentials operating as standard senior UK investment management and senior UK banking professional credentials.

ACI Operational Risk and adjacent operational risk professional credentials — UK Operational Risk Director appointments typically include preferences for ACI Operational Risk credentials operating as specialist UK operational risk professional credentials. Adjacent senior UK operational risk professional credentials include FRM (Financial Risk Manager) credentials administered by GARP (Global Association of Risk Professionals), PRM (Professional Risk Manager) credentials administered by PRMIA (Professional Risk Managers’ International Association), and adjacent senior UK operational risk professional credentials.

Senior UK Operational Risk Director Search — Methodology

UK senior Operational Risk Director search engagement at Exec Capital follows a structured retained methodology calibrated to the specific dynamics of UK Operational Risk Director recruitment.

Structured brief development — every senior UK Operational Risk Director mandate at Exec Capital begins with structured brief development that articulates the firm scenario (UK FCA-authorised bank, UK FCA-authorised asset manager, UK insurance firm, UK selected UK FCA-regulated firm with material operational risk dimensions), the sector context, the operational risk function scope dimensions, the SMCR SMF4 framework requirements where applicable, the UK regulatory framework requirements (FCA Operational Resilience framework, PRA Operational Risk Capital framework where applicable, Basel III / CRR Operational Risk framework where applicable), the qualification requirements (IRM, ICA, CFA, ACI Operational Risk, FRM, PRM), and the senior commercial dimensions specific to the firm.

UK Operational Risk Director candidate pool research — UK senior Operational Risk Director candidate pool research operates with concentrated research extending across the relevant UK Operational Risk Director candidate pool. UK Operational Risk Director candidate pool extends across senior UK Operational Risk Directors at peer UK FCA-regulated firms in the relevant sector, senior UK Heads of Operational Risk with senior progression dimensions, senior UK risk professionals at UK FCA-authorised banks/asset managers/insurance firms operating at material commercial scale, and adjacent senior UK risk professional candidate pool dimensions.

Cross-Portfolio Architecture and Adjacent Senior UK Risk Recruitment Engagement

UK senior risk recruitment engagement extends across Exec Capital and the broader Exec Capital cross-portfolio architecture with FD Capital cross-portfolio engagement specific to senior UK FCA-authorised firm SMF holder recruitment.

FD Capital — UK FCA-authorised firm senior CFO and senior SMF holder authority — sister site FD Capital operates as the dedicated UK FCA-authorised firm senior commercial CFO and senior SMF holder authority across senior UK FCA-authorised firm appointments at material commercial seniority. UK senior SMF4 Chief Risk function holder appointments at UK FCA-authorised firms at material seniority frequently operate within FD Capital cross-portfolio senior commercial authority given the SMF holder dimensions specific to UK FCA-authorised firm senior appointments.

UK Director of Risk and Compliance — combined risk and compliance leadership — for UK Director of Risk and Compliance recruitment service engagement covering combined risk and compliance senior leadership scope see Director of Risk and Compliance Job Description.

UK Chief Risk Officer (CRO) — C-Suite enterprise risk leadership — for UK CRO recruitment service engagement covering C-Suite tier enterprise risk leadership see CRO Recruitment; for UK CRO Job Description reference see Chief Risk Officer Job Description.

UK Chief Compliance Officer (CCO) and senior compliance leadership engagement — for UK CCO recruitment service engagement see CCO Recruitment; for UK CCO Job Description reference see Chief Compliance Officer Job Description.

UK Part-Time MLRO and adjacent UK AML leadership engagement — for UK Part-Time MLRO recruitment service engagement at UK FCA-regulated firms operating with structured part-time MLRO engagement requirements see Part-Time MLRO.