Operational Risk Analyst

Rakbank; United Arab Emirates; On-site; AED 180,000 - 300,000; Full time

Job summary

Rakbank in the United Arab Emirates seeks an Operational Risk Analyst to join the Business Banking team as the First Line of Defence, helping identify, assess, monitor and mitigate operational risks while driving governance, control effectiveness and continuous process improvement.

You will support risk management frameworks, facilitate RCSA, monitor KRIs, manage incidents, prepare dashboards and management reports, and provide insights to prioritise mitigations. UAE nationals only.

Qualifications

• Minimum 2 years of experience.
• Exposure to Operational Risk Management, Business Controls, Business Analysis, Operations, Governance, or Project Management.
• Understanding of First Line of Defence (1LOD) risk management practices.
• Strong analytical, problem-solving, and critical thinking capabilities.
• Ability to work independently and manage multiple priorities effectively.
• Strong communication and stakeholder management skills.
• Proficiency in Microsoft Office applications and banking systems.

Responsibilities

• Support and maintain operational risk management frameworks across Business Banking.
• Facilitate Risk and Control Self-Assessments (RCSA) to identify key risks and evaluate control effectiveness.
• Conduct control testing and identify gaps in processes, systems, compliance, and training.
• Monitor and analyze Key Risk Indicators (KRIs), escalating emerging risks and trends.
• Manage operational risk incidents, ensuring effective investigation, tracking, and resolution.
• Coordinate Risk Acceptance submissions, approvals, renewals, and stakeholder engagement.
• Prepare risk dashboards, management reports, and governance updates.
• Track key risk themes, challenges, and remediation actions.
• Provide meaningful insights to support informed decision-making and prioritization.
• Identify control weaknesses and recommend practical mitigation measures.
• Review end-to-end business processes and customer journeys to identify risk exposures and enhancement opportunities.
• Develop process documentation and support implementation of process improvements.
• Lead root cause analysis of operational issues and customer complaints.
• Evaluate process changes, new products, and customer communications from a risk and control perspective.
• Support process re-engineering initiatives to improve operational efficiency and customer experience.

Skills

Analytical thinking

Problem solving

Critical thinking

Communication

Stakeholder management

MS Office

Banking systems

Tools

Banking systems

Process mapping tools

Job description

Operational Risk Analyst (UAE Nationals Only)

United Arab Emirates

Trending

Job Description

At Rakbank, we are committed to building a strong risk culture that supports sustainable growth and exceptional customer experiences. We are looking for an Operational Risk Analyst to join our Business Banking team and act as the First Line of Defence, helping identify, assess, monitor, and mitigate operational risks while driving governance, control effectiveness, and continuous process improvement.

What You Will Do

• Support and maintain operational risk management frameworks, tools, and processes across Business Banking.
• Facilitate Risk and Control Self-Assessments (RCSA) to identify key risks and evaluate control effectiveness.
• Conduct control testing and identify gaps in processes, systems, compliance, and training.
• Monitor and analyze Key Risk Indicators (KRIs), escalating emerging risks and trends.
• Manage operational risk incidents, ensuring effective investigation, tracking, and resolution.
• Coordinate Risk Acceptance submissions, approvals, renewals, and stakeholder engagement.
• Prepare risk dashboards, management reports, and governance updates.
• Track key risk themes, challenges, and remediation actions.
• Provide meaningful insights to support informed decision-making and prioritization.
• Identify control weaknesses and recommend practical mitigation measures.

Process Improvement & Business Controls

• Review end-to-end business processes and customer journeys to identify risk exposures and enhancement opportunities.
• Develop process documentation and support implementation of process improvements.
• Lead root cause analysis of operational issues and customer complaints.
• Evaluate process changes, new products, and customer communications from a risk and control perspective.
• Support process re-engineering initiatives to improve operational efficiency and customer experience.

What You Will Bring

• Minimum 2 years of experience.
• Exposure to Operational Risk Management, Business Controls, Business Analysis, Operations, Governance, or Project Management.
• Understanding of First Line of Defence (1LOD) risk management practices.
• Strong analytical, problem-solving, and critical thinking capabilities.
• Ability to work independently and manage multiple priorities effectively.
• Strong communication and stakeholder management skills.
• Proficiency in Microsoft Office applications and banking systems.

Preferred Skills

• Experience conducting RCSA, control testing, or risk assessments.
• Knowledge of operational risk frameworks and governance practices.
• Experience with process mapping, process improvement, and root cause analysis.
• Ability to interpret risk data and develop actionable management reporting.