Job Purpose:
- To assist Head of Operational, Fraud and Business Continuity Risk, in establishing and maintaining a bank wide Operational Risk Management Framework in line with the Principles of a sound management of Operational Risk based on Basel and CBUAE requirements.
- This broadly covers establishment of Risk Self-Assessment across all businesses, timely reporting/ investigation of Operational losses, establishment of Heat maps/ KRIs including Operational Risk Assessment Procedures (ORAP) for new products/ initiatives.
Principal Accountabilities:
- Assist Head of Operational Risk, Fraud, BCP in formulating and implementing the Bank's Operational risk management framework and Policy.
- Establishment of ORM policy and framework for the bank in line with Basel Principles.
- Implementing three lines of defense structure within the Bank.
- Identify risks to which the bank is exposed, conducting root cause analysis on control failures with a view to providing businesses enhancing procedures to prevent/ mitigate Operational losses.
- Supporting completion and review of RCSA covering all units of the Bank.
- Identifying Ops losses through monthly returns and by conducting investigations.
- Periodical review of RCSA of all units, based on the SOPs.
- Identify key problem drivers and reinforce operational procedures with appropriate internal controls.
- Track outstanding action plans that were identified to mitigate risk and escalate as necessary to the appropriate level if target dates for these action plans are overshot.
- Complete the review of each business process falling under RCSA of; Processes updated & Key controls identified and implemented.
- Implementation of bank/ business wide KRI structure/ reporting to management/ Board.
- Plan and facilitate presentations and training workshop sessions on Operational Risk. (training programs / workshops conducted)
- Prepare reports on ORM for the Management and Board Risk Committees.
- Timely submission of reports (minimum on quarterly basis).
Job Requirements:
- Bachelor's degree from an internationally recognized education institute.
- Minimum of 10 years experience in Operational Risk Management (preferably within the Banking & Financial sector).
- Experience of Wholesale Banking, Retail Banking, Treasury, Operations and branch processes.
- Previous work experience within UAE/GCC and/or proven ability to work in multi-cultural environment.
- Knowledge of Islamic banking and general business operations.
- A clear understanding of Operational Risk Management, risk identification and control tools.
- Understanding about RCSA, KRI, Risk incident reporting, New Product Risk assessment and Project risk assessment
- A clear understanding of retail banking and branch network processes.
