banking jobs in UAE | Al Maryah Community Bank careers
Al Maryah Community Bank announced, through its Linkedin account, a bank job in UAE (Head of Operational Risk) according to the following:
- Be responsible for developing and enhancing the Banks Operational Risk framework, which includes risk identification, control testing, policy maintenance, incident management, and includes fraud risk, outsourcing as well as business continuity management.
- Be accountable for embedding a strong operational risk culture in the Bank such that operational risks are effectively and proactively managed by the risk owners thereby reducing the propensity of operational incidents and keeping losses and reputational risks within the Bank risk appetite.
- Maintain the independence of risk department by challenging the business on matters of divergent views.
- Establish and continually enhance the Operational Risk, Fraud Management, Business Continuity, and Outsourcing governance framework in line with the Bank's risk appetite and best practices for a digital bank.
- Lead the process of embedding the operational risk framework throughout the business areas and departments to contribute to the risk and control culture of the Bank by giving quality advice, guidance and training so that risk owners can effectively manage their risks and meet regulatory obligations.
- Monitor & oversee the implementation of outsourcing initiatives within relevant business group from Operational risk perspective.
- Co-ordinate, monitor and report on a framework of Key Risk Indicators (KRIS) for the Bank.
- Assist front line and all departments in the Bank in the preparation and documentation of their Risk and Control Self Assessments (RCSAs).
- Maintain both the risk event and risk issues logs, monitoring progress and escalating as required.
- Compile the Ml reporting for the Board Risk Management Committee (BRCC).
- Challenge the front line and all departments on their understanding of their operational risks & controls relative to policy, risk appetite, and best practice for a digital bank.
- Articulate the residual risks vis-å-vis the overall risk appetite & risk mitigation strategy of the front line and all departments of the Bank and offer risk advisory to the front end business units.
- Provide risk advisory on outsourcing initiatives and other relevant projects to business stakeholders.
- Review and analyze the root cause of reported incidents in ORM system & escalate when necessary.
- Prepare loss data trend analysis and monitoring of loss approvals as per DOA in within the business group/department.
- Prepare & assist in monthly dashboards & other relevant reports as necessary & mandate.
- Undertake adhoc assignments from management, incl. periodic testing of the business continuity plan.
- Promote an appropriate culture of awareness and attention to Operational Risk throughout the bank in line with evolving regulatory requirements by embedding the three lines of defence and enhancing the effectiveness of Operational Risk reporting and governance.
- Keep abreast of all changes in operational risk guidelines and directives by the Central Bank and other authorities and communicate these changes to staff to keep them updated to help ensure their adherence to the same.
- Comply with audit requirements as well as internal and external reporting obligations including ICAAP to ensure high standards of uniformity and consistency across the Bank.
- Monitor and investigate fraud and business continuity incidents reported by the various business units/departments.
- Follow up with Operational Risk liaison staff bank-wide in implementing operational risk initiatives.
- Install ORM models / systems for measuring operational risks and residual risks.
- Review new products, services, and processes prior to launch and periodically from an Operational Risk perspective.
- Identify and forecast operational risks under different scenarios and provide analytical support for making specific business decisions and propose strategies (such as hedging, insurance, controls etc.) for managing operational risks.
- Supervise operational risk staff and oversee Operational Risk liaison staff.
- Minimum 10 years banking experience of which at least 4 years in a senior operational risk position within a Risk Management department.
- Strong understanding required of bank operations, digitalization initiatives, and operational risk management procedures.
- Good understanding required of fraud and business continuity risks,
- Solid experience in developing, implementing, and enhancing an Operational Risk Management framework and internal controls.
- Solid experience in project management incl. digitalization initiatives.
- Experience working in a digital bank is preferred but not mandatory.
- Experience working in Internal Audit within a financial institution is preferred but not mandatory.
- Batchelor degree in related field is required. Masters degree is preferred but not mandatory.
- Relevant industry body certifications in Operational Risk, Fraud Management, and BCM is preferred but not mandatory.
To know more details about the vacancy and how to apply kindly check the link below:
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