Assistant Manager Operational Risk

Peergrowth Consultancy Co.; Dubai; On-site; AED 90,000 - 140,000; Full time

Job summary

Peergrowth Consultancy Co. in Dubai seeks an Assistant Manager Operational Risk to oversee risk management activities across operations, branches, and support functions.

You will strengthen the internal control framework and ensure compliance with policies and regulatory requirements. You will identify, monitor, report, and mitigate risks, contribute to governance improvements, prepare RCSA and KRI, and support audits and committee reporting.

Qualifications

• Bachelor's degree in Commerce, Finance, Banking, Risk Management, or Internal Audit.
• Certification in Operational Risk Management is an advantage.
• 5–7 years of experience in Operational Risk or Internal Audit.

Responsibilities

• Review operational risk incidents and assess root causes.
• Prepare and update RCSA and KRIs.
• Develop action plans and track mitigations.
• Review SOPs and policies for compliance.
• Support risk committee activities and reporting.
• Assist audits and regulatory examinations.

Skills

Operational risk management

Internal audit

RCSA

Risk monitoring

Regulatory knowledge

Data analysis

Education

Bachelor's degree in Commerce, Finance, Banking or Internal Audit

Job description

About the job Assistant Manager Operational Risk

The role is responsible for conducting Operational Risk Management activities across operations, branch functions, and support functions. The objective is to strengthen the overall internal control framework while ensuring compliance with policies, procedures, and regulatory requirements.

The position supports risk identification, monitoring, reporting, and mitigation while contributing to the improvement of governance and operational risk processes across the organization.

Key Responsibilities

• Review operational risk incidents and assess root causes.
• Conduct process gap analysis and perform control testing across functions.
• Prepare and update Risk and Control Self-Assessment (RCSA) and Key Risk Indicators (KRI).
• Develop action plans and track progress on risk mitigation activities.
• Maintain and update operational risk reports including incidents, losses, root causes, SOP deviations, and resolutions.
• Reconcile operational loss figures with relevant financial records.
• Update RCSA documentation based on incident reports and operational losses.
• Complete year-end RCSA activities including action plan updates.
• Update operational variance reports using operational risk and audit reports.
• Prepare committee reports and presentations within required timelines.
• Draft minutes for risk committee meetings.
• Review outsourced contracts to ensure compliance with Central Bank of UAE regulations.
• Draft, review, and update policies and procedures within the risk management unit.
• Review Standard Operating Procedures (SOPs) across all functions to ensure compliance and effectiveness.
• Support the strengthening of the organization's control framework.

Systems & Automation

• Participate in system implementations, automation initiatives, and system updates.
• Conduct testing and validation of risk-related systems and process improvements.

Committee Support

• Perform duties as Secretary to the Management Risk Committee.
• Prepare documentation and ensure proper record keeping for committee activities.

Audit & Examination Support

• Provide information and documentation required during audits or regulatory examinations.
• Follow up on audit observations and ensure timely closure.

Key Interactions

Internal Stakeholders

• All departments, groups, and divisions within the organization.

External Stakeholders

• External auditors

Qualifications & Education

• Bachelor's degree in Commerce, Finance, Banking, Risk Management, or Internal Audit.
• Additional training or certification in Operational Risk Management is an advantage.

Knowledge Requirements

• Understanding of credit risk and operational risk frameworks.
• Knowledge of governance frameworks and regulatory standards including Basel, CBUAE, DFSA, and CBK.
• Familiarity with risk assessment tools and methodologies.

Experience & Skills

• Minimum 5 to 7 years of experience in Operational Risk Management or Internal Audit roles.
• Hands-on experience in:
  • Operational risk assessment
  • RCSA methodology and implementation
  • Risk monitoring and reporting
• Strong analytical and problem-solving abilities.

Core Competencies

• Effective written and verbal communication.
• People-focused and collaborative approach.
• Strong professional ethics and integrity.
• Result-oriented with focus on timely and quality delivery.
• Operational risk management and credit cycle risk.
• Knowledge of Standard Operating Procedures and policies.
• Experience in RCSA frameworks and risk analysis.
• Understanding of market conduct and compliance practices.
• Proficiency in Microsoft Office tools including PowerPoint, Word, and Excel.