Summary
The Senior Manager Operational Risk is responsible for proactively managing end to end Operational Risks across Finance House Group. He/she ensures deployment of sound risk assessment and risk mitigation practices in compliance with regulatory directives and prepare /publish annual Operational Risk Management and BCP plans to Head - Portfolio, Operational, Market & ALM Risk for their review/approval and submission to BRMC.
Responsibilities
- Managing of the Operational Risk function in the day to day execution and management of the operational risk framework to include key risk management activities such as: operational risk event reporting and error resolution, risk & control self-Assessment, new product risk assessment, setting of Key Risk Indicators and training to the risk owners to promote awareness of operational risk.
- Maintain, review, and implement BCP Framework and Policy across FHG. Work closely with FHG management team to ensure the BCP program is reviewed and implemented.
- Articulate the overall risk appetite & risk mitigation strategy of the group and offer risk advisory to the front-end business units.
- Rollout the operational risk framework and strategy for FHG within an agreed timeframe with particular emphasis on the risk and control self-assessments. This includes defining the operational risk governance, top risks reporting, risk appetite & tolerance metrics.
- Ensure timely completion of Risk & Control Self-Assessments (RCSA) & validation of control testing of the functions in the business group.
- Guide the various departments to identify, assess and mitigate the operational risks by providing proper trainings and advisories to create staff awareness and maintain competency at all levels.
- Formulate and review the operational risk management policies, procedures, standards, guidelines, methodology and related work plans to enhance the bank's operational risk management framework.
- Prepare operational risk management related reports and data analysis for regulatory and / or management reporting.
- Own and drive the process of embedding the operational risk framework throughout the business areas and contribute to the risk and control culture of the organization through knowledge sharing and awareness on the importance of risk management.
- Influence and monitor progress of action plans to improve the risk and control environment arising from risk assessments, risk monitoring, internal and external audits, and regulatory inspections.
- Engage with stakeholders at Senior Management levels and Risk & Compliance functions providing support for risk-based decision making and assurance that controls are functioning well within the first line of defense.
- Review of process flows / procedures / vendor arrangements / outsourcing contracts / Product if any within the group to highlight control gaps from operational risk perspective.
- ORM Training and awareness initiatives and ensure high level of risk awareness across FHG.
- Ability to compile, analyze and summarize complex technical data for communication.
- Tracking of open issues from operational risk registers, audit reports/ regulatory reviews, for closure and validation.
- Capture & Analyze Operational losses/ Error data to bring improvement to processes.
- Conduct Compliance reviews, raise early warnings to the management.
- Review and independently challenge Operational risk assessments submissions by Business/Operations/Support functions.
- Monitor & interpret developments in Risk Regulations & practices from Central Bank of UAE.
Qualification
- Bachelor's degree Finance or Business. Master's degree is preferred.
- Certification in Ops Risk management and Basel II regulations.
- Project Management Certification preferred but not essential.
Experience
- Minimum 10 years Operational Risk Management and BCP experience of which a minimum of 5 years in a managerial position.
- Adaptable and flexible in a changing environment, and able to communicate and influence effectively at all levels.
- Solid quantitative and qualitative analytical skills, attention to detail and strong excel skills.
- Sound relationship management and influencing skills
- Strong analytical capabilities, problem solving and communication skills.
