A global financial client is seeking a highly experienced Risk & Regulatory Governance Consultant to design and implement a sustainable risk assessment framework for its International Legal Entities (ILEs), informed largely by FRB expectations for how large banks oversee their subsidiaries. This role will support regulatory expectations (FRB), by ensuring the applicability of policies, risk frameworks, committee governance standards and oversight is rightsized for the risk of the ILE.

The consultant will be responsible for designing a principled and sustainable framework for risk stratification of ILEs, including subsidiaries and joint ventures. They will develop and document risk tiering methodology and governance expectations by risk group, ensuring alignment with FRB requirements and international regulatory expectations. The consultant will recommend and socialize updated policy language and empower framework sustainability within the policy suite by drafting and deploying policy changes.

Additionally, the consultant will use informed industry insights to recommend and codify effective operating model(s) for 2nd Line teams within the ILEs, ensuring effective coverage of all risk stripes as required by International regulators, and documenting roles and responsibilities accordingly. They will need to perform a gap assessment between the current state and the desired operating model, with aligned gap closure recommendations.

To address the above, the consultant will be required to generate thoughtful and relevant recommendations informed by industry best practice, peer benchmarks and US and Int’l Regulatory expectations, and socialize this recommendations with senior leaders across the to influence and generate alignment and advocacy. They will support the preparation of materials for regulator (FRB) socialization and Board/committee usage, and advise on embedding the framework in governance structures and IRM resourcing.

This is a contract based role and is 3 days hybrid, 1 day ideally in Brighton

REQUIRED SKILLS AND EXPERIENCE

• Extensive experience in Risk Governance, Regulatory Compliance, or Legal Governance


• Deep knowledge of International Regulatory Requirements applicable to global financial services firms (FRB, Basel, ECB, local regulators)


• Expertise in risk-based governance frameworks, policy frameworks, and operational risk management


• Prior experience advising on Legal Entity governance or risk stratification preferred


• Prior experience working with/for the Fed or preparing firms for FRB review highly desirable