Assistant Manager - Operational Risk Management/Process Improvement

The Assistant Manager will be responsible for ORM - RCSA, KRI and Incidents Management and for reviewing Operations Policies, Procedure Manuals, new products, projects and outsourcing proposals

This role serves as a reference point for business units, sharing knowledge and skills while providing necessary training as required

Responsibilities:

Risk Perspective Reviews:

- Project Reviews: Conduct reviews for Central Bank and other Bank Projects as advised by the Manager.

- New Product Releases: Assess new products released by Retail/Wholesale from a risk perspective.

- Outsourcing Vendor proposals: Review outsourcing vendor proposals and provide feedback from OR perspective

- UAT/Implementation Review: Review User Acceptance Testing (UAT) for new systems/processes to ensure smooth transitions.

- Training Needs Assessment: Identify ORM training requirements and conduct training programs for operational staff regarding system behavior and operational procedures.

- Data Management: Recommend corrective measures for data cleansing where necessary to prevent recurrence of issues.

- Technical Design Transformation: Translate new business requirements from Operational Units into technical designs for the IT team.

Operational Risk Activities:

- RCSA: Perform Risk Control Self-Assessment (RCSA) for identified Business units.

- Qualitative Risk Assessment: Conduct qualitative risk assessments to understand potential expected losses.

- Key Risk Indicators (KRIs): Establish KRIs to monitor risk exposure over time.

- Control Assurance Program: Conduct control assurance programs to assess the efficiency of controls in maintaining acceptable risk levels.

Manual Review:

- Review Operational Policies: Evaluate Operational Policy, Procedure Manuals, process flows, and Desk Manuals submitted by Business units from a Process Refinement and Risk perspective.

- Coordination: Collaborate with the Internal Audit department and Compliance/Internal Control departments to ensure alignment with standards.

- Review Documentation: Assess forms, application forms, and Terms and Conditions related requirements.

Process Improvement and Re-engineering:

- Review Procedures: Analyze the Bank's operational procedures and standards for potential re-engineering using best practices.

- New Products Assessment: Evaluate new products and processes from a Process Refinement and Risk perspective.

Skillset:

- Understanding of Operational Risk Management and governance frameworks, strong knowledge of business continuity best practices and protocols, operational risk management, and in-depth knowledge and expertise of the Bank's operations, including IT practices

- Experience in using and managing GRC tools

- Experience of developing evidence related to accounting transactions.

- Attention to detail and ability to analyze large amounts of information.

- Strong problem solving and analytical skills.

- Excellent communications (oral and written), interpersonal / business partnering, and organizational skills.

- Proficient with MS applications

- Familiarity to UAE CB regulations

- Knowledge of reviewing projects and outsourcing arrangements

Requirements:

Education/Certification:

- Bachelor's/Master's degree in finance, Business Administration, or a related field.

- Certification in Operational Risk

- Minimum of 8 years of experience in operational risk management or process improvement roles.

- Strong analytical skills with a focus on risk assessment methodologies.

- Excellent communication and interpersonal skills.

- Proficiency in risk management tools and systems.

Skills:

- Ability to work independently as well as collaboratively within teams.

- Strong project management skills with attention to detail.

- Proactive approach to identifying risks and implementing solutions.