Head of Operations - Banking Start-up

Location: Bristol
Salary: £75000 raising to market rate
Call: 0117 321 0588

We have an amazing opportunity for an experienced Banking Operations Director to join an incredible project - a new retail and commercial banking institution for the South West. You would join an established board as employee number 1. 

The nature of the Head of Operations work is to contribute towards the start-up phase of a brand new banking institution in the South West, which is aiming to obtain a banking licence in order to start trading in 2020. This will require designing and implementing the necessary operational and compliance systems for a high street bank.

The services to be provided are in the areas of operations, risk and compliance. Specifically, to support the board in the following areas of activity:

  • Become thoroughly conversant with every detail of the banks processes, policies and supplier relationships evolving them as necessary.  

  • General project management, including keeping key documents up to date and available for inspection by Board members.

  • Preparing the Regulatory Business Plan (RBP) for submission to the PRA/FCA and support board in the licensing process and meetings with regulators.

  • To develop operational and compliance processes that are sufficient to deliver high standards of risk assessment and customer care, and that are consistent with TCS Bancs core banking system and other IT systems that are included in initial systems package.

  • Reviewing and editing other documents relating to operations, risk and compliance.

  • To assess the appropriate numbers and qualifications of staff required to achieve AM’s targets for customer acquisition and product sales.

  • To carry out the tasks of company secretary including:

    • Preparation of Board papers and minutes in a timely manner.

    • Ensuring that financial records are kept and monthly management accounts are prepared and circulated to the Board.

    • Developing KPIs in line with the business plan (financial and non-financial) and reporting on those regularly.  

  • Other operational tasks required for the day to day running of the company and to support the following areas of activity:

    • Developing and managing the pre-licence project plan and reporting to the board on KPIs on its progress.

    • Define product specifications.

    • Market research, including assessment of potential branch locations.

    • Undertake such duties as the Board shall deem necessary to ensure the successful application for a Banking licence.

The institution is a start-up company requiring a flexible approach to assigning tasks and responsibilities, and other duties may be agreed from time to time.

Salary: an initial £75k salary will be offered, raising to market rate once the initial fundraising round is complete.