Specialist - Operational Risk Management (WBG, Treasury & Wealth Management)

JOB PURPOSE

To embed and execute ADCB’s Operational Risk framework and policies in order to ensure that operational risks are managed in line with the risk strategy and appetite 

ACCOUNTABILITIES

Operational Risk Framework and Policy: 

Support development, enhancement and implementation of the following OR tools across the organization as per the roadmap

•      Risk & Control Self Assessments (RCSAs)
•      Key Risk Indicators (KRIs)
•      Issues & Actions
•      Operational Risk Events (OREs)

Support the framework implementation representing the assessed risk exposure and coverage across all assigned business units within timelines

Risk Assessment:

Review and challenge RCSAs for the assigned business units to ensure key risks are identified, described and assessed; and their corresponding controls identified and described in line with the RCSA Guideline

 Review and challenge Third Party Risk Assessments (TPRA), New Initiatives (products, services, processes, systems and vendors) to ensure they are properly documented and all key risks associated with them are identified, assessed and the respective controls identified and documented

Contribute to the ongoing development of the Risk Library as a Risk Assessment tool 

Control Assessment:

Review and challenge control testing results and assessments to ensure they are performed in line with the RCSA Guideline and properly documented and approved; as well as improve the quality of the exercise   

Training & Support:

Support the development of training materials for assigned OR tools; provide training and uplift awareness of staff around risk matters in order to promote a risk management culture

Provide support and guidance to Risk & Control Champions and other relevant internal stakeholders on Operational Risk matters in order to assist them with the interpretation and implementation of OR policy, framework, procedures and guidelines requirements

 Support team; or other staff within ORM where required in carrying out the Operational Risk responsibilities to ensure knowledge transfer and effective use of resources

Risk Monitoring and Reconciliation:

Periodically monitor open actions under OR tools; and follow up with the Risk & Control Champions for timely action to avoid overdue actions or breach of the Risk Appetite

Review Operational Risk Events to ensure relevant accounting records (i.e. gains, losses, provisions, recoveries and restitutions) are correctly updated in the general ledger accounts and reconcile with the records in the Operational Loss Database

Reporting:

Update and review records in the databases for all the OR tools to ensure the records are updated in time, complete and accurate for internal and external reporting purposes

Review the ORM Dashboard, MI reports; governance oversight presentations and packs to ensure the records for coverage Business areas are complete and accurate for internal and external reporting

Policies, Processes, Systems, Procedures & Guidelines:

Recommend and implement improvements to departmental policies, procedures, processes, guidelines covering all areas of activity so that all relevant procedural requirements are fulfilled

 Adhere to all relevant organisational and departmental policies, processes, standard operating procedures and guidelines so that work is carried out to the required standard and in a consistent manner while delivering the required standard of service to all relevant stakeholders

Support development, enhancement and implementation of OR tools and ORMS across the organization

Self-Management:

Manage self in line with the bank’s people management policies, procedures, processes and practices to ensure adherence and to maximiseown contribution to business performance

Customer Service:

Demonstrate Our Promise and apply the ADCB Service Standards to deliver the bank’s required levels of service in all internal and external customer interactions

Participate in the OR governance forums and provide input as required

Support Group subsidiaries - Asset Management, ADCB Securities, AHB Treasury & etc.

EXPERIENCE, QUALIFICATIONS & COMPETENCIES:

At least 10 years of work experience of which recent 5 years of experience should be in Operational Risk, Governance & Control, or Risk Management in a Financial Institution

This role requires a strong understanding and Working knowledge in Wholesale Banking (e.g. Transaction Banking, Investments Banking, etc.); Treasury & Investment; and/or Wealth Management (e.g. Asset Management, and Securities and Brokerage)

Minimum Qualifications:

Bachelor’s Degree in Finance, Accounting, Economics, Business Administration or any other related field

Professional Qualifications:

Risk Management/Operational Risk Management qualification e.g. CORM, FRM, or equivalent

Knowledge and Skills:

Knowledge in the implementation of best practice frameworks such as Basel II, ISO 31,000 (2018), COSO framework (2017), SOX and etc

Analytical skills: Able to break down complex problems into simple manageable units and develops solutions

 Strong interpersonal, negotiation and communication skills: Excellent verbal, writing and presentation skills with the ability to interact with senior stakeholders at all levels within the organization and be able to relay complex technical concept to non-technical audience

 Proficiency in Microsoft Office (Word, Excel and PowerPoint) and other related tools