SMF Capital is building a shortlist of experienced Chief Operations Officers for Senior Manager appointments at London firms. We're speaking to candidates who hold or have held SMF24, and to senior operations leaders ready for their first approval.
London / hybrid
Permanent and interim
SMF24 Chief Operations
Banking, investment and payments
The Opportunity
The SMF24 Chief Operations function carries personal accountability for how a firm runs: its operations, technology, outsourcing and operational resilience. It applies at Enhanced firms and dual-regulated banks and insurers, and the regulators have made operational resilience one of their clearest supervisory priorities.
We work with London banks, investment managers, platforms and payment firms that need an SMF24 who can satisfy the regulator and run a complex operation well. Some roles are permanent and some are interim, covering a vacancy or a transformation programme. Interest in these roles is handled in strict confidence, and we will discuss specific firms with you before any introduction.
What the Role Involves
Holding the Chief Operations function and carrying personal accountability under the Senior Managers and Certification Regime for operations and technology.
Owning the firm's operational resilience framework, including important business services, impact tolerances, mapping and scenario testing.
Overseeing material outsourcing and third-party arrangements, including cloud and critical service providers.
Leading technology, change and operations teams, and reporting clearly to the board and its committees.
Working with the Chief Risk Officer and compliance on incident management, operational risk and regulatory engagement.
Who We Are Looking For
Current or previous SMF24 approval, or a senior operations role at an Enhanced or dual-regulated firm with a clear case for approval.
Hands-on experience of operational resilience requirements and outsourcing oversight in a regulated firm.
A record of running large operations and technology change, ideally in banking, investment management, platforms or payments.
Confidence presenting to boards and regulators, and an understanding of the Senior Manager Conduct Rules and the Duty of Responsibility.
If you have held SMF3 or SMF18 with operations in scope, or held an equivalent role outside the UK, we'd still like to hear from you.
Pay, Terms and Approval
Packages are competitive and benchmarked against the London market, and larger firms typically include variable remuneration subject to regulatory deferral rules. Interim day rates reflect the scope and length of the assignment. For current benchmarks, see the SMF salary guide.
The successful candidate will need FCA approval, and for dual-regulated firms PRA approval, before taking up the function. We manage the process alongside the firm, including regulatory references and the Statement of Responsibilities.