RCSA Enhancement SME - Contractor

About CLS

CLS is the trusted party at the centre of the global FX ecosystem. Utilized by thousands of counterparties, CLS makes FX safer, smoother and more cost effective. Trillions of dollars’ worth of currency flows through our systems each day.

Created by the market for the market, our unrivalled global settlement infrastructure reduces systemic risk and provides standardization for participants in many of the world’s most actively traded currencies. We deliver huge efficiencies and savings for our clients: in fact, our approach to multilateral netting shrinks funding requirements by over 96% on average, so clients can put their capital and resources to better use.

CLS products are designed to enable clients to manage risk most effectively across the full FX lifecycle – whether through more efficient processing tools or market intelligence derived from the largest single source of FX executed data available to the market.

Our ambition to make a positive difference starts with our people. Our values underpin everything that we do at CLS and define our working environment:

Pivotal purpose

Trusted guardian

Targeted innovation

Facilitate connections

Delivering excellence

Inclusive culture

Job Information

Role – RCSA Enhancement SME

Department – Chief Controls Office

Report to – Executive Director, Business Risk & Control

Location – London

What you will be doing

This is an exciting opportunity for a talented individual to join our Chief Controls office (CCO), a dedicated first line risk and control function. This role has arisen due to the expansion of responsibilities, offering the successful candidate the opportunity to make an impact and actively contribute to the evolution of the group.

As part of the CCO team, you will play a key role

Enhancing the Risk Control and Self-Assessment (RCSA) framework to make sure of:

the correct identification, allocation and distribution of Risks across Business Units

development of a framework to make sure of the effective identification and application of key controls to allocated Risks

effective ownership and sustainable execution of framework

Review of Issue and Actions Management framework to make sure of clear ownership, aligned standards and sustainable execution across 3 Lines of Defense

Development of 1Lod Standard for:

RCSA governance and oversight

Issue and Actions governance and oversight

Strengthening the oversight of non-financial risks, bringing risk and control subject matter expertise to partner with 1LOD business owners to proactively identify, assess and mitigate risks.

Providing cross functional oversight across the first line, driving best practices and consistency in control standards for the effective control of risks to within risk appetite.

Driving behaviours to foster a risk-aware and risk intelligent culture where employees recognize their role as risk managers and the importance of the control framework.

What we’re looking for

Candidates with a proven track record in the implementation / enhancement of RCSA and Issue Management frameworks.

Candidate would ideally be from a 1LOD background but candidates with suitable experience from 2LOD/3LOD would also be considered.

The candidate is a key member of the CCO team who will work closely with 1LOD business owners in the management of risk and controls. This includes but not limited to:

RCSA frameworks

In depth understanding of Risk Control and Self-Assessment (RCSA) framework

Identify and deliver best practices in risk allocation and control standards

Experience of controls testing (DE/OE) preferable

Development of Governance and Oversight for RCSA frameworks

Issue Management frameworks

Understanding in the identification, reporting, and resolution of risk incidents and control failures.

Experience in the development of action plans to remediate issues, strengthen controls, and prevent recurrence consider design/operating effectiveness.

Development of Governance and Oversight for Issue Management frameworks

1Lod Standards development

Experience in the drafting of 1Lod Standards for RCSA and Governance and Oversight frameworks

Experience in the implementation of 1Lod Standards

Stakeholder Engagement

Partner with business units, compliance, audit, and legal teams to enhance risk culture. Support audit engagements and work with the business to review the findings and define actions.

Represent CCO in working groups as required.

Competencies required for successful job performance

Proven experience in Risk Control and Self-Assessment (RCSA) and Issue Management

Development of 1Lod Governance and Oversight frameworks

1Lod Standards development and implementation

Ability to assess, design, and enhance control environments and to drive a risk-aware culture across business units.

Strong problem-solving skills, with a proactive approach to risk mitigation.

Strong written and verbal communication skills.

Attention to detail is essential, demonstrating high standards to the control and oversight of risk.

Knowledge of Financial Services, Financial Markets Utilities or another highly regulated industry sector is essential.

Strong stakeholder management, influencing executives and senior leaders.

Challenge the status quo, be a catalyst for change, driving and cultivating innovative thinking to solve complex problems. Ability to ‘speak up’, break down barriers and provide constructive challenge.

Take professional pride in making a difference, being proactive and delivering best in class solutions, creating long term value by addressing root cause issues.

Build effective working relationships with multiple internal and external stakeholders, negotiating effectively to bring different viewpoints together as appropriate.

Manage ambiguity, operating effectively and decisively to navigate a path forward.

Professional qualifications / certifications

Qualifications in any of the following specialisms would be beneficial but not essential:

Risk Management

Internal Audit

Compliance

Project Management

Highly proficient IT skills in Word, Excel, PowerPoint and PDF.

Our commitment to employees

At CLS, we celebrate inclusion and consider this to be one of our strongest assets. We are committed to fostering an environment in which everyone feels comfortable to be who they are, and inclusion is valued. All employees have access to our inclusive benefits, including:

Holiday - UK/Asia: 25 holiday days and 3 ‘life days’ (in addition to bank holidays). US: 23 holiday days.

2 paid volunteer days so that you can actively support causes within your community that are important to you.

Generous parental leave policies to ensure you can enjoy valuable time with your family.

Parental transition coaching programmes and support services.

Wellbeing and mental health support resources to ensure you are looking after yourself, and able to support others.

Employee Networks (including our Women’s Forum, Black Employee Network and Pride Network) in support of our organisational commitment to embrace and always be learning more about inclusivity.

Hybrid working to promote a healthy work/life balance, enabling employees to work collaboratively in the office when needed and work from home when they don’t.

Active support of flexible working for all employees where possible.