Associate Vice President - Business Operational Risk and Governance | Dubai, UAE

Associate Vice President - Business Operational Risk and Governance

RAKBANK Dubai, United Arab Emirates

Description
As Associate Vice President, Business Operational Risk and Governance you will be responsible to review and improve processes and activities within Retail Bank, with a focus on the Investment product space. Identify and mitigate operational/regulatory risk & issues.

What You'll Do

• Identify, review processes within the Retail Banking Unit for operational and regulatory gaps or lapses.
• Review identified gaps and risks with units and develop action plans with defined action owners and timelines to address the issues.
• Recommend appropriate measures for improvement in processes for units reviewed.
• Share the learning from a review with other team members and with other teams, as necessary.
• Support governance and controls on areas requiring attention to embed culture of good governance across all business sub-units.
• Assist units with investigation of operational risk events, fraud incidents and review of operations with respect to existing & new regulations.
• Map the process to the relevant operating procedures & relevant regulatory requirements.
• Analyze the data the unit is maintaining fetched from the systems / manually maintained and map the same back to the laid down process.
• Identify gaps between data & process, if any.
• Discuss, review and document with the unit the manner in which the unit completes its tasks and variances from best practices, if any.
• Review unit communications going out to customers, ensure CPF & Regulatory Compliance guidelines are adhered by units.
• Review internal MIS maintained in the unit to identify gaps or areas of improvement.
• Manage RCSA control testing, periodic RCSA reviews, monitoring of KRI and periodic KRI reviews for frontline business units.
• Manage risk process enablement and updates for business units.

Skills

What We're Looking For

• Bachelor's degree, preferably Commerce / Finance / IT / Engineering or similar, MBA holders will have an added advantage.
• Preferred certification or experience in Investment Risk Management, Operational Risk, Financial Analysis, etc.
• Min 5 years of experience in investment products - Mutual Funds, Bonds, Structured Products, FX, stocks, futures & options, alternative investments including virtual assets etc.
• Prior working experience in product management, market risk, operational risk, middle office or audit functions in banks or SCA regulated entities.