Operational Risk Analyst for one of the leading commercial banks in Saudi Arabia

Employment title - Operational Risk Analyst

Location - Riyadh, Saudi Arabia

Department - Risk Management

Typically reports to - Head, Operational Risk

Job Responsibilities:

- Provides an independent and objective assessment of Operational Risk arising within the bank.

- Proactively supervise the identification, assessment, measurement, mitigation and monitoring of operational risk in the bank

- Lead root cause analysis on internal operational risk events and, where deemed relevant, benchmarks analysis on events that occurred in the industry.

- Stay abreast of industry news and regulatory developments pertinent to the industry to facilitate a more proactive approach to risk identification and mitigation.

- Continually improve operational risk control processes and business operating models; supports business growth; and makes informed cost/benefit decisions.

- Escalate all high and critical operational risks.

- Provide independent review of both internal and external risk events.

- Assess new business initiatives from operational risk perspective.

- Provide expert guidance on the development of relevant policies and control documentation.

- Help promote and instil a culture of operational risk management and operational excellence across the bank.

- Investigate, resolve and document operating errors. Work with business and operations to improve process and performance, and update procedure. Process operating events (loss as well as near miss) and lessons learned.

- Ensure data accuracy and integrity in recording events at the future Operational Risk databases system

- Facilitate, train, and work closely with Risk owners regarding Operational Risk policies and procedures, assessment of risk and control mitigation, and usage of the Operational Risk database

- Maintain and keep current Operational Risk Policies, procedures and programs.

- Partner with business and operations on key projects where Operational Risk is a major stakeholder.

- Assist in the development and of automated operational risk management reports (e.g. Action Plans, KRIs, Lessons Learned tracking, etc.).

Educational Qualifications - Bachelor's degree from an accredited college or university in commerce, finance, accounting, and/or economics /MBA/CA

Professional Experience:

Minimum 5 years experience in operational risk in a reputed bank

Personal requirements:

- Basic knowledge of treasury and capital market products

- In-depth local market knowledge (covering all regions)

- Working knowledge of strategic planning and forecasting

- Working knowledge of credit

- Knowledge of bank operations

- Strong analytical skills

- Strategic thinking

- Good communication (both written and verbal) and presentation skills

- Team player

- Proficient in the use of PC

- Inquisitive and thinks “out of the box”

- Accounting and Numerical

- Form alliance across various departments of the Bank

- English essential (Arabic preferable)

Remuneration: 80,000 US Dollars per annum (tax-free)

Vibhanshu Bisht

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