Head of Operational Risk

2 days ago

Manama, Manama, Bahrain Bahrain Islamic Bank - BisB Full time 120,000 - 180,000 per year

Key Responsibilities

  • Maintaining and enhancing all aspects of the operational risk management framework for the identification, assessment, management, monitoring and reporting of operational risk.
  • Ensuring that the operational risk management framework is aligned to regulatory expectations and industry best practice and operates effectively.
  • Managing Operational loss data from various business units, ensure loss data is reconciled with Finance department and report the details while Operational risk reporting.
  • Developing appropriate management information to enable the monitoring and reporting of operational risk in the operating business and presenting this to relevant boards and management committees.
  • Assist Process Owners in identifying areas of operational risk in their respective areas and agree on mitigating actions.
  • Ensure incidents get reported, analysed , reported and corrective actions are followed up and remediated in timely manner.
  • Ensure RCSA exercise is performed as per annual plan and review the adequacy and efficacies of KRIs for each department.
  • Maintain the Bank's Operational Risk Management Framework as well as the risk management discipline by using both qualitative and quantitative approaches.
  • Provides all required support for the administration of all related governance forums
  • Coordinate for Operational Risk Management Committee meeting and ensure comprehensive reporting is done and management attention is drawn towards material actions and support required.
  • Ensure Policy, procedures and templates for Operational Risk are regularly updated to be aligned with the regulatory guidelines.
  • Review and perform the Root Cause Analysis for medium and high-risk incidents
  • Align Operational risk practice with the Group practices and adhere to the Service Level Agreement between group and BisB.
  • Ensure OpR awareness session is conducted from time to time for various departments and teams at the bank

People Management

  • Develop appropriate training activities and transfer of best practice to upgrade skills.
  • Manage, motivate, and train staff to ensure performance is optimized.
  • Provide leadership, coaching and support through participating in the setting of objectives, managing performance and identifying development needs.

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