Assistant Manager, Operational Risk

Bank ABC seeks to recruit an Assistant Manager, Operational Risk in the Group Operational Risk Management Department based in our Head Office, in Bahrain.

The Assistant Manager, Operational Risk will be required to contribute to the development and implementation of operational risk framework across the ABC Group and provide second-line oversight and challenge to the management of operational risk by the first line, across the group and in Bahrain.

This includes:

• Engaging with the first line on identification, assessment, and mitigation of operational risk
• Facilitate implementation of the group-wide framework for management of operational risk in Bahrain and other Units
• Collaborate with other second line non-financial Risk Departments on matters related risk management
• Representing risk in efforts to launch new products, change processes, implement systems, etc.
• Analysis of risk data and translating same in action plans
• Reporting of risks and status of risk management
• Preparation for Operational Risk Committees
• Raising awareness and promoting best practices for the management of operational risk.
• Assistance with the further development of the framework for the management of operational risk

The job holder needs to have a thorough understanding of the products and business processes and have an excellent understanding of operational risk management practices and regulatory requirements. They should be able to articulate these and have meaningful discussions with internal and external stakeholders at various levels. They should also never lose sight of the "big picture" of the markets ABC is in and the overall trends in the financial industry as a whole

Responsibilities of the role:

Reporting to the Operational Risk Manager, the job holder will be responsible for the following:

• Draft the Group Policies, Standards and Procedures (PSPs) and supporting tools and ensure effective implementation through providing training
• Facilitate the management of operational risk across the Units.
• Implementation of the group-wide framework for the management of operational risk;
• Organization and facilitation of risk management workshops;
• Coordination and facilitation of the implementation of the various policies and procedures in the Units
• Assistance with the identification of risks and the definition of appropriate controls;
• Assistance with development of action plans to mitigate risks
• Challenging / testing the effectiveness of controls;
• Analysis of risk data such as loss events and other incidents, KRIs, etc. and ensuring that they are translated into appropriate action;
• Investigating risk events and incidents;
• Following up on completion of action plans
• Review - and approve – local policies & procedures to ensure compliance with group standards and policies
• Provide day-to-day training and support to the first and second line and the Units for the management of operational risk.
• Develop and conduct Trainings on Operational Risk for various stakeholders
• Responsible for various Initiatives including Incident Management, Key Risk Indicators, RCSAs as required etc
• Involved with the ICAAP Process in order to assess adequacy of operational risk capital
• Engage on various initiatives such as process improvements and enhancements as required
• Quality control of the various ORM projects (i.e. the reliability of the results of the various risk management projects reported to the Operational Risk Committees and Board Risk Committees both at the local level and at the group level)
• Participate in the review of new products and change management projects (e.g. outsourcing of processes) to ensure that the inherent risks are assessed and mitigated prior to launch/implementation
• Ensure that the management of operational risk is aligned to other non-financial risks (Compliance, IT Risk, BCM, Audit)
• Cooperation with other risk and control functions to ensure that all non-financial risks are adequately managed
• Analyze data related to Operational risk in providing insights
• Prepare / oversee the preparation of actionable (consolidated) risk reports for the various internal and external stakeholders.
• Reporting ORM matters to the local/group senior management, the local/group ORCO, the local/group Board Risk Committee, etc.and to the local ("host") regulators.
• Reporting on the progress against the approved operational risk management planning
• Develop trainings, conduct necessary training and provide guidance to the risk managers in the Unit, subsidiaries, branches and rep offices on all aspects of the management of operational risk management
• Disseminate – and explain - policies and procedures for the management of operational risk to the various stakeholders in the Unit
• Acting as point of contact for local external auditors and regulators in operational risk matters.
• Serving as secretary of the local ORCO.
• Carrying out "ad hoc" tasks as directed by Senior Management

Areas of Knowledge, Qualification and Experience

• A minimum of 5 years of relevant banking experience.
• Bachelor/ Master's degree from a reputable university or acceptable equivalent
• Extensive second-line experience providing operational risk oversight in a global/ regional bank.
• Advanced level understanding of business processes, business applications, technology infrastructure related to commercial credits and/or trade finance and/or trading & sales business, risk or support function gained preferable through first line experience
• Excellent understanding of the CBB requirements for Operational Risk Management (OM-1) and familiarity with international regulatory environment in different countries where ABC group operates, best practices and industry standards (COSO, ISO)
• Advanced knowledge of operational risk discipline, and various non-financial risk types including information security, business continuity and disaster recovery, compliance, third-party etc;
• Strong practical experience developing and implementing risk and control frameworks, tools, and methodologies
• Strong written & oral communication / presentation skills;
• Proficient in English & Arabic
• Good time-management skills;
• Driven, Self-motivation and leadership attributes;
• People management and relationship skills;
• Experience leading business critical projects