Assistant Manager & Operational Risk

United Arab Bank; Sharjah; On-site; AED 120,000 - 200,000; Full time

Job summary

A financial institution in the United Arab Emirates seeks an Operational Risk Manager to lead risk management initiatives. Key responsibilities include ensuring effective controls, preparing reports for stakeholders, and managing audit readiness. The ideal candidate should have a Bachelor's degree, 3 to 5 years of experience in operational risk, and fluent communication skills in Arabic and English. This role is essential for maintaining a robust risk management environment.

Qualifications

• 3 to 5 years of experience in operational risk and business management.
• Understanding concepts of risk management in banks.
• Effective communication skills in Arabic and English.

Responsibilities

• Lead and support risk management and control environment.
• Ensure timely identification of risks and control failures.
• Review and report key risk indicators (KRIs) and breaches.
• Prepare presentations and reports for internal stakeholders.

Skills

Risk management understanding

Effective communication skills

Audit preparedness

Education

Bachelor's degree

Job description

Job Purpose

• The main objective of this position is to lead and support a robust risk management & control environment, through implementation of the operational risk framework and governance.
• The position will also cover ensuring that the existing risk and control environment is adequately represented in RCSAs and that all material risks in the business have effective controls in place for mitigation.
• The position will cover sample testing of controls in various units and work with internal stakeholders to ensure adequate audit preparedness and management of ineffective controls.
• This position also covers maintenance of an independent oversight (monitoring) on Governance through embedding of processes and regular health checks in order to identify inherent/residual risks.
• Timely reporting to concerned parties on all Operational Risk issues through monthly dashboard.
• Systematic implementation of policies, procedures and practices into the unit related activities for identifying, analyzing, evaluating, treating and monitoring the risk.

Principal Accountabilities

• Ensures timely identification of existing risks / control failures and liaising with functional process owners to ensure adequate preparation for audits.
• Ensure that RCSAs accurately reflect the existing risk and controls embedded, and periodic update / maintenance of the same.
• Ensure that risk events / incidents are reported in a timely manner and, for material risk events, a root cause analysis is carried out along with the risk event owner that action plan is properly analyzed and closed for actions taken.
• Review, report and update KRIs and related actions for breaches from the units. Follow up and escalated wherever necessary, as per the defined process.
• Carry out risk event theme analysis to identify the focal areas requiring management attention.
• Drives prioritization in terms of remediations about audit requirements/observations.
• Report, test and provide evidence about effectiveness of controls and management of underlying risks on a regular basis.
• Ensure all open ineffective controls highlighted during RCSA testing, incidents, testing results, key issues and observations can be linked back to underlying controls/risks (owners).
• Ensures proper governance, specifically in terms of presentation of risk landscape to senior management and drive remediation plan.
• In addition to the same, the role also requires preparation of MIs, update presentations and reports for circulation to internal stakeholders. Further, the role requires working closely with all team members and units for better risk management.

Job Requirements (Qualifications/Experience)

• Bachelor's degree will be preferable
• 3 to 5 years’ experience in Operational risk and business management
• Understanding concepts of risk management in banks
• Effective communication skills in Arabic and English