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Head of Operational Risk- Magnati

10.00 to 12.00 Years   Abu Dhabi, United Arab Emirates   02 Jul, 2023
First Abu Dhabi Bank
Job LocationAbu Dhabi, United Arab Emirates
EducationNot Mentioned
SalaryNot Mentioned
IndustryBanking / Accounting / Financial Services
Functional AreaNot Mentioned

Job Description

JOB PURPOSE:Effectively manage Operational Risks in Magnati on their day-to day activities and ensure timely escalation of issues to enable business units function efficiently.Individually contribute (IC) to the team in managing the assigned functions.Maintainindependency of risk in challenging the business on matters of divergent views.Responsibilities:

  • Establishing, enhancing, embedding an effective ORM framework and monitoring the implementation within relevant business group.
  • Should be capable of challenging the business on various risks & controls with sound knowledge on the line function of the portfolio that are assigned to the individual
  • Articulate the residual risks vis--vis the overall risk appetite & risk mitigation strategy of the group and offer risk advisory to the front end business units.
  • Ensure timely completion of Risk & Control Self-Assessments (RCSA) & validation of control testing of the functions in the business group.
  • Assist the business functions within the group to set threshold levels for KRI and monitoring of KRI breaches & action plan implementation.
  • Review and analyze the root cause of reported incidents in ORM system & escalate to Head of Operational Risk as and when necessary.
  • Prepare loss data trend analysis and monitoring of loss approvals as per DOA in within the business group.
  • Review of process flows / procedures / vendor arrangements / outsourcing contracts / Product if any within the group to highlight control gaps from operational risk perspective
  • To facilitate Operational risk assessments for projects (ORAP) within the business group as and when necessary
  • Assist business functions within the group in day-to-day activities related to Operational Risk management and any other integration management activities.
  • Review and monitor action plans agreed within the business group
  • Prepare & assist in monthly dashboards & other relevant reports
  • Undertake adhoc assignments from Head of Operational Risk Management
Qualifications. Graduate / Post-graduate / Management diploma in Business management. Minimum 10-12 years of hands on banking experience in any one of the major functions - large scale banking operations - Trade / Card / Retail / Corporate Operations, Credit & CAD, Human Resources, logistics & administration services in Risk Management / Internal Controls / Operations. Experience in developing and implementing Operational Risk Management framework and Internal Controls. Relevant industry body certifications in Operational Risk, Anti-Fraud, InfoSec or BCM preferred. Sound relationship management and influencing skills. Strong analytical capabilities & problem solving. Proactive self starter & pragmatic solution driven expertise

Keyskills :

About Company

FAB, the UAE’s largest bank and one of the world’s largest financial institutions offers a an extensive range of tailor-made solutions, and products and services, to provide a customised banking experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.
Headquartered in Abu Dhabi, in Khalifa Business Park, the bank’s international network spans over 19 countries, across the world, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience and will support the growth ambitions of its stakeholders across the global network in which the bank operates.

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