Assistant Manager Operational Risk (UAE National)

Commercial Bank of Dubai; Dubai; On-site; AED 223,200 - 357,120; Full time

Benefits offered by this job

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Job summary

Commercial Bank of Dubai is seeking a professional to support the implementation and maintenance of its Operational Risk Management framework. The role focuses on identifying, assessing, managing and reporting operational risks to ensure effective monitoring and compliance across the bank.

You will collaborate with the Senior ORM Manager, monitor tools like RCSA, KRI, SII, incidents, and ensure timely action closure, governance and reporting to management and ORM Committee.

Qualifications

• 2–3+ years of experience in operational risk or a control function within a financial institution.
• Bachelor’s degree in a related field.

Responsibilities

• Support meeting Department objectives and implement the ORM Plan.
• Collaborate with the Senior ORM Manager to implement the ORM framework bank-wide.
• Support and monitor ORM tools (RCSA, KRI, SII, Incident, Risk Acceptance) across lines of business.
• Track actions from RCSAs and ensure timely implementation within deadlines.
• Assist in governance and monitoring to identify control deficiencies and propose mitigations.
• Escalate and record Operational Risk events; ensure customer issues are resolved to reduce reputational risk.
• Review and report KRIs and Risk Appetite metrics; escalate variances and identify root causes.
• Ensure operational losses are written off timely and reported to stakeholders monthly.
• Work with units across the bank to recover losses and prevent potential losses.
• Support ORM trainings and refresher sessions; ensure controls are embedded in processes.
• Evaluate emerging risks and provide support on management reporting for ORM Committee.

Skills

Operational risk management

Risk assessment

Governance & reporting

Vendor risk management

Communication

Education

Bachelor's degree

Tools

RCSA tools

Job description

Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World’s Best Banks 2022.

As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.

Job Purpose

The purpose of this role is to support the implementation and maintenance of the Operational Risk Management framework and identify, assess, manage, and report operational risks to ensure effective monitoring and compliance across the organization.

Responsibilities

• Provide support in meeting Department’s objectives, and in implementing bank-approved ORM Plan.
• Work closely with the Senior Operational Risk manager in implementing the Operational Risk Framework across the bank.
• Support and monitor the implementation of Operational Risk Tools i.e., Risk and Control Self-Assessment (RCSA), KRI, SII, Incident, Risk Acceptance and Actions across various lines of business within the bank that includes actions required from new products as well as for the bank’s outsourced vendors.
• Track the actions captured within the RCSAs and ensure the implementation of the proposed actions within the designated timeframe.
• Support the Operational Risk Portfolio Leads to conduct independent governance and monitoring of operational risks tools to ascertain any control deficiencies and propose mitigating controls to enhance the control environment
• Assist the Senior Operational Risk portfolio leads and business & functions FLOD with the escalation and recording of Operational Risk events, challenge remedial and preventative actions to prevent reoccurrence as well as ensuring any customer issue is being handled and resolved on a priority basis to reduce any reputational losses to the bank
• Collect, review and report KRI’s / Risk Appetite metrics, analyze and escalate in case of KRI threshold breach/irregular variance to identify the root case and enforce remedial and preventative actions.
• Support in ensuring operational losses are written off in a timely manner and through the designated GL.
• Supporting the team to periodically monitor and analyze operational loss entries in the GL and send a monthly report to the stakeholders.
• Work closely with various units across the bank to recover any actual financial losses as well as taking appropriate actions to prevent any identified potential losses.
• Support the Head of ORM in managing the OR trainings and refresher sessions adequate controls and understanding are embedded within the operational processes at the FLOD level.
• Evaluate and accelerate critical and emerging operational risks to Line management.
• Support the Head of ORM on all training and refresher sessions.
• Support the ORM team with detailed reports and presentations on operational risk matters for management, Audit and ORM Committee.
• Work closely with relationship owners of the bank’s outsource vendors to ensure full alignment to the bank’s Vendor Risk Management policy and procedures as well as CBUAE regulations and enforces the completion of the requirements within the designated timelines.
• Ensure all actions are monitored and do a periodic follow up with the action owners to avoid overdue actions.

Education and Experience

• 2-3+ years of relevant experience in operational risk, operations or in a control function with working knowledge of Operational Risk Management within a financial institution
• Bachelor’s degree