Head of Operational Risk Management

Job Details

Role Objective:

The incumbent will be responsible for the overall adequacy and effectiveness of the operational risk management techniques/ processes. The incumbent will ensure independent and objective identification, assessment, measurement, monitoring and control of operational risk for bank as a whole. The incumbent will manage all activities of the operational risk division by developing relevant operational risk management framework (ORMF), including; Risk Control Self-Assessment (RCSA), Loss data management (LDM), Key risk indicators (KRIs) , Issues & Management Action plans (IMAPs) and by providing expertise on the development of operational management policies/procedures, and new product/activities/services to ensure provision of effective coverage of bank wide operational risks arising from any intentional or unintentional deviation from the accepted principles and establish the implementation of a comprehensive framework to ensure adherence to defined risk levels and standards.

STRATEGIC :

Develop, maintain, and continuously improve the operational risk management strategy, frameworks and limits/tolerances in line with Bank’s overall risk while ensuring effective implementation of same in liaison with relevant stakeholders to support effective management of bank’s operations within the defined risk levels.

Ensure effective cascading of the risk management functional strategy into operational risk management business plans to ensure vertical alignment and horizontal integration with other interfacing functional strategies.

Maintain highest standards of professional conduct, ethics and integrity in the provision of services in the Department.

OPERATIONAL & FINANCIAL :

Lead the development and oversee the implementation of operational risk management policies, procedures and controls covering all areas of function activity so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost-effective service.

Develop, maintain, and continuously improve the operational risk management strategy, frameworks and limits/tolerances in line with the bank’s overall risk appetite, and liaise with concerned parties for effective implementation

Lead the development and implementation of the risk control self-assessment system / process (RCSA), Loss data management (LDM), Key risk indicators (KRIs), and Issues & Management Action plans (IMAPs) in coordination with functional and business heads.

Maintain loss databases and provide guidance on the data collection process to ensure adherence to established guidelines.

Coordinate with concerned practice to ensure the development of a Business Continuity Management (BCM) as well as to ensure the adequacy of the disaster recovery plan (in coordination with IT) to facilitate optimum protection of BANK data and systems.

Review frequency and seriousness of breaches and significant increases in operational risk exposure to facilitate the development of risk mitigation measures.

Coordinate the review of major IT systems and software to identify potential operating risks and ensure adequate controls are in place.

Identify operational risks in new products and services and highlight to the process owners to facilitate effective risk mitigation.

Educational Qualifications

  • Bachelor’s degree from a recognized university.
  • Holder of graduate/post-graduate degree from a reputable institution, preferably CIA/ CCSA/CFE/PRM/FRM/CRM/ RMP/CAMS/CBCI/CIB
  • About 14-18 years of banking experience with at least 6 years in a similar position.