Operational Risk Associate

The TP ICAP Group is a world leading provider of market infrastructure.

Our purpose is to provide clients with access to global financial and commodities markets, improving price discovery, liquidity, and distribution of data, through responsible and innovative solutions.

Through our people and technology, we connect clients to superior liquidity and data solutions.

The Group is home to a stable of premium brands. Collectively, TP ICAP is the largest interdealer broker in the world by revenue, the number one Energy & Commodities broker in the world, the world’s leading provider of OTC data, and an award winning all-to-all trading platform.

Founded in London in 1866, the Group operates from more than 60 offices in 27 countries.  We are 5,200 people strong.  We work as one to achieve our vision of being the world’s most trusted, innovative, liquidity and data solutions specialist.

Role Overview

The Regional Chief Risk Officer (CRO) team supports the EMEA region by embedding best practices in risk and control management, conducting thematic reviews, and providing oversight to ensure the effectiveness of the control environment. This role also supports the CRO’s office and the Board in maintaining a strong risk management framework.

As an Operational Risk Associate, you will serve as a key business partner and trusted advisor to the organisation, working closely with various departments to ensure risks are identified, assessed, and managed effectively. In this role, you will constructively challenge existing processes and frameworks, while also supporting the business in understanding and mitigating risks. By leveraging your risk expertise, you will contribute to strengthening the organisation’s control environment and ensuring that operational, regulatory, and financial risks are appropriately managed.

Your role will involve close collaboration with risk owners, control operators, and senior stakeholders to provide insights, guidance, and assurance that align with the company’s overall risk management strategy.
 

Role Responsibilities

General Enterprise Risk Management

• Assist Risk Managers in developing and implementing the Group’s Enterprise Risk Management Framework (ERMF) across the EMEA region and corporate functions, covering all risk types.

• Build collaborative relationships with the Front Office and Control Functions to promote and embed the Group’s ERMF effectively.

• Support the regional risk governance structure, including managing the Regional Risk Committee and the Global Algorithmic Trading Forum.

• Foster a strong risk management culture by reinforcing the Group’s commitment to risk management practices across the organisation.

Operational Risk Management

• Continuously monitor the region’s risk profile against its appetite, evaluating performance against loss thresholds (e.g., broker or large loss events), Key Risk Indicators (KRIs), and Key Performance Indicators (KPIs) for critical services. Investigate breaches and oversee remediation actions.

• Serve as the Risk Contact for non-financial Risk Owners and Control Owners, reviewing material risk events, ensuring proper issue identification, and conducting root cause analysis where needed.

• Guide Control Owners and Operators in establishing robust control environments that align with the Group’s Risk Management Standards.

• Act as an expert on operational risk under the ERMF, providing advice on the Risk Taxonomy, Risk Appetite, Risk Management Standards, and Risk Assurance.

• Participate in the delivery of Risk and Control Self Assessments (RCSAs) led by the Front Office, offering guidance and providing second-line challenge to identified risks and control effectiveness.

• Conduct targeted controls testing as part of ongoing assurance activities.

• Participate in regional risk assessment processes, including emerging risk identification and risk scenario development.

• Assist with risk-related regulatory submissions for regulated subsidiaries within the region, such as capital adequacy risk assessments.

• Collaborate with Risk Managers to maintain effective engagement models that foster a strong partnership with the business.

• Participate in change management processes, ensuring that operational and control environments remain robust when changes to processes, products, or services occur.

Experience / Competences

Essential

• Minimum of 2 years of practical work experience in a Risk support function, ideally within a financial institution.

• Demonstrated understanding of the causes and impacts of operational risk, including the distinction between risks, risk taxonomies, and controls.

• Knowledge of key control concepts, including control design and effectiveness.

• Good understanding of the regulatory frameworks in the UK and EU, especially with regards to operational resilience in the financial sector (e.g., FCA).

• Strong communication skills, with the ability to engage internal and external stakeholders and articulate risk issues clearly in both written and verbal formats.

• Proficiency in office applications such as MS Excel, Word, Teams, and PowerBI.

• Demonstrated ability to manage and solve problems creatively in dynamic environments.

• Proven ability to build relationships, collaborate with diverse teams, and contribute to a strong risk management culture.

• Strong ethical standards, integrity, and professionalism, with a commitment to promoting company values and fostering an inclusive workplace.

Desired

• Familiarity with operational risk stress scenarios and scenario development.

• Experience with Risk and Compliance (GRC) applications such as RSA Archer, LogicManager, Riskonnect, SAP GRC, ServiceNow, or MetricStream.

• Experience in preparing or reviewing risk-related regulatory submissions, such as capital adequacy risk assessments.

• Exposure to emerging risks and participation in risk scenario development processes.

• Developing managerial and leadership experience.

• Hands-on experience with advanced data analysis tools like CoPilot.

• Experience in coordinating risk and control self-assessments (RCSAs) within large organisations.

Job Band & Level

• Professional / 5

#LI-ASO #LI-Hybrid

Not The Perfect Fit?

Concerned that you may not meet the criteria precisely? At TP ICAP, we wholeheartedly believe in fostering inclusivity and cultivating a work environment where everyone can flourish, regardless of your personal or professional background. If you are enthusiastic about this role but find that your experience doesn’t align perfectly with every aspect of the job description, we strongly encourage you to apply. You may be the ideal candidate for this position or another opportunity within our organisation. Our dedicated Talent Acquisition team is here to assist you in recognising how your unique skills and abilities can be a valuable contribution. Don’t hesitate to take the leap and explore the possibilities. Your potential is what truly matters to us.

Company Statement

We know that the best innovation happens when diverse people with different perspectives and skills work together in an inclusive atmosphere. That’s why we’re building a culture where everyone plays a part in making people feel welcome, ready and willing to contribute. TP ICAP Accord - our Employee Network - is a central to this. As well as representing specific groups, TP ICAP Accord helps increase awareness, collaboration, shares best practice, and holds our firm to account for driving continuous cultural improvement. 

Location

UK - 135 Bishopsgate - London