Sr. Officer - Operational Risk, Policy & Procedure

Oman Arab Bank; Muscat; On-site; OMR 25,000 - 35,000; Full time

Job summary

Oman Arab Bank is seeking an experienced individual to manage the Operations Risk department. The role involves designing and implementing risk programs as per Central Bank guidelines, leading the Operational Risk Department, and conducting assessments and trainings.

The ideal candidate will have a Bachelor’s degree in Business Administration or Finance, along with at least 8 years of experience in similar roles and a strong understanding of bank operations and associated risks.

Qualifications

• 8 years of experience in similar roles.
• Strong understanding of Bank's operations and associated risks.
• Knowledge of policies, procedure and risk management.
• Experience in crisis management and business continuity.

Responsibilities

• Lead and supervise the Operational Risk Department.
• Conduct Risk Control self-assessments.
• Assess new projects to understand operational risks.
• Conduct awareness trainings for staff on operational risk.
• Generate and present risk-related reports to stakeholders.

Skills

Relationship management

Organizing, planning and multi-tasking skills

Openness to new ideas and skills

Solution orientation and problem solving

Adaptability and ability to respond quickly

Strong command over English and Arabic language

Education

Bachelor’s degree in business administration or finance

Job description

As part of the management of the Operations Risk department, being responsible for designing and implementing operational risk programs as per Central Bank guidelines and regulations.

• To lead, guide & supervise the Operational Risk Department of OAB and ensure timely and effective completion of all activities within the agreed timelines and guidelines set and followed by the Organisation and mandated by the Central Bank of Oman.
• Conduct Risk Control self-assessments (RCSA) or other assessment as per the approved plan for departments to assess operational risks and assess and examine the effectiveness of the control measures.
• Assess any new projects or products ( PAPS) to understand the operational risks and work with the business to develop action plans and control measures. Follow up to ensure implementation of control measures.
• Conduct awareness trainings for Head office and branches on matters related to operational risk as per ERM plan.
• Generate and present Operation risk related reports to various stakeholders as per agreed frequency - Quarterly report to (CRC & MRC) report on ops risk incidents, RCSA update, dormant accounts ,Monthly report on KRIs and Incident Analysis to CEO (CEO) Report. Weekly - update and status follow up on Open Operational Risks incidents, actions plans with business to resolve the open incidents, open items from PAPS and from RA if any.
• Conduct, develop and review policies and procedures of Operational Risk management.
• Work with IT vendors to upgrade the Risk System to conduct RCSA and KRI.
• Lead, conduct and engage with business units and control functions through an Ops Risk forum (ORF) to follow up, update and record progress on open Operation risk issues / matters.
• Review incident reports prepared by the maker within the operational risk team and make sure that the control measures are effective Conduct incident investigations for new or open incidents.
• Responsible to update write off, PAPS, RA trackers.
• Responsible to update GRC system with regards to the incident management.
• Execute other activities as and when requested.

Qualifications

• A bachelor’s degree in business administration or finance

Skills/Knowledge

• Relationship management
• Organizing, planning and multi-tasking skills
• Openness to new ideas and skills
• Solution orientation and problem solving
• Adaptability and ability to respond quickly
• Strong command over English and Arabic language

Experience

• 8 years of experience in similar roles

Business Understanding

• Strong understanding of Bank's operations and associated risks
• Knowledge of policies, procedure and risk management
• Experience in crisis management and business continuity