BRM Officer

Purpose of the Job

Quintet Private Bank is a leading private bank in the wealth management sector; we are committed to our clients and their families, and pride ourselves on our personalized service based on a deep understanding of what clients want to achieve. Compared to others, we are small (<2,000 employees across 50 European and UK locations) with an ambition to stay true to our purpose to be the most trusted fiduciary of family wealth. The successful candidate will work as part of the Business Risk Management team of InsingerGilissen (Amsterdam). InsingerGilissen is the Dutch branch of Quintet Private Bank. When you join Quintet, you are joining a company that values diversity of background, equal access to opportunities, career development, collaboration and inclusiveness. We want our employees to feel proud of being part of a company that is committed to do the right thing. You will have the opportunity to grow your career while developing personally and professionally through various resources and programs.

The Quintet Business Risk Management (BRM) function is a first line risk function, with main purpose:

• to steer the first line of defense at Quintet in ownership of risks pertinent to their business
• to consolidate analyses of regulatory initiatives and their implementation at both Group and local level
• to ensure consistent approach and standard outcomes on the above.

The role of the BRM Officer in Amsterdam is to ensure that there is a robust 1st line of controls framework in place locally, so fluency in Dutch is required. This is a key role to enable the front organization to manage their business risks appropriately. 

The role holder reports locally to the Netherlands Head of Business Risk Management. He/she is expected to work closely and collaboratively with the Group BRM team, the business (Wealth Management and Asset Servicing), as well as the local 2nd and 3rd line of defense functions (Compliance, Risk and Internal Audit).

Key Accountabilities

The role of the BRM Officer is expected to include:

• Timely and accurate 1LOD control execution, including provision of feedback to Client Advisors and Supervisors;
• Analyze control results and define measures to address weaknesses together with the local business leads;
• Provision of proactive advice, training and ongoing support to Client Advisors and Team;
• Risk Identification and Assessment: collaborate with the Centre of Excellence (CoE) lead to identify and assess risks specific to the group and local market and contribute to the ongoing risk control self-assessment (RCSA) process;
• Work with the business on development and implementation of risk mitigation strategies based on RCSA findings;
• Assistance in monitoring the effectiveness of controls and report any deficiencies or concerns to the RCSA CoE lead with a view to re-assessing the control environment and residual risk rating. Continuous improvement of controls and BRM processes; 
• From time to time, there will be emergencies which would call for ad-hoc support.

In addition, the BRM Officer may also contribute to the following:

• Improvement of business risk procedures and processes, including implementation of regulatory initiatives for the group and locally, as appropriate;
• Capture and investigations of risk issues, including remediation plans;
• Develop, execute and maintain the first line’s controls framework;
• Produce reports / dashboards / key metrics on the risk profile and on control effectiveness for the Group BRM management;
• Escalate significant issues and lessons learned to Group BRM management;
• Monitor Key Risk Indicators.

Complaints management

• Take ownership and investigate client complaints and respond to clients within regulatory timeframes;
• Conduct root cause analysis as part of the investigation and raise any identified deficiencies in process for improvement;
• Ensure accurate logging of complaints within BRM database and local reporting.

Knowledge and Experience

• Academic degree in Finance, Banking, Economics, Mathematics, Law or equivalent
• 2-5 years proven Business Risk and or Compliance / Internal and or External Audit experience, in a controller and monitoring function
• Experience of Financial Services/Wealth Management or Asset Servicing is a strong advantage

Attributes and Qualities

• Excellent analytical skills to review processes, investigate errors and assess risks
• Ability to implement change across organization, including remediation of issues and regulatory projects
• Ability to communicate effectively, influence and persuade at various levels
• Be able to evolve in a matrixed / changing and complex environment
• Work together, collaborate with all businesses, and engage stakeholders to work with a common purpose
• Ability to work under pressure and prioritize competing tasks;

Technical and Language Skills

•  Risk, Compliance, 1st line Controls, expertise in Excel and the MS Office suite
• Fluent in both Dutch and English