FAB Operational Risk Head - KSA

First Abu Dhabi Bank (FAB); Riyadh; On-site; SAR 180,000 - 280,000; Full time

Job summary

The FAB KSA Risk Management Department is seeking an experienced professional to assist the KSA CRO in day-to-day oversight of Operational Risk for FAB Branch & Capital in KSA. You will help maintain risk governance, monitor controls, and produce timely risk reporting to the Risk Committee.

Key duties include managing risk reporting frameworks, applying group methodologies, reviewing policies and SOPs, and supporting outsourcing oversight.

Responsibilities

• Governance: manage the comprehensive risk-reporting framework for FAB Capital in KSA to assist the Risk Committee within the set risk appetite.
• Strategy Development and Implementation: maintain and improve the Operational Risk frameworks, limits, and tolerances for FAB Branch & Capital.
• Change Management: participate in continuous improvement of systems and processes aligned to global standards.
• Relationship Management: maintain effective relationships with internal/external entities with high ethical standards.
• Reporting: ensure risk-related reports are prepared timely and meet local and Group requirements.
• Job Context: review local business policies and SOPs; ensure validity and report status to Risk Committee.
• KRI: facilitate KRI setup for FAB Branch & Capital and monitor data against thresholds.
• RCSA: run risk assessments across FAB Branch & Capital and monitor corrective actions.
• Outsourcing Oversight: ensure risk assessment for outsourcing and monitor control environments.
• Training and Awareness: uplift awareness of Op Risk practices for FAB Branch & Capital employees.

Job description

The candidate will assist the KSA CRO and Risk Management Department (“KSA RMD”) to provide day-to-day risk oversight of all activities within Operational Risk in the branch and the agreed area within FAB Capital under the outsourcing agreement, this covers ensuring maturity of a strong risk culture and governance framework.

The candidate will assist KSA CRO in providing day-to-day risk oversight of all activities of OpRisk in the KSA branch as well as full risk within FAB Capital under the outsourcing agreement, ensuring the maturity of a strong risk culture and governance framework.

The candidate will assist risk management in KSA with robust independent oversight and risk monitoring by developing strategic reporting solutions across the FAB KSA branch.

The candidate will oversight KSA Operational risk management strategy; framework and control system to ensure the FAB Franchise in KSA operates within an agreed risk appetite and complies with its internal policy and external regulatory obligations.

In addition, the candidate will assist with developing and implementing integrated operational risk framework and control systems to ensure FAB Capital operates and complies with its internal policy and external regulatory obligations.

In doing this, he/she will work closely with local and Group Risk Management units to ensure Group methodologies, policies, and procedures and limit frameworks are established and monitored appropriately.

The potential candidate will build, produce and regularly update the risk-reporting suite for FAB Branch & Capital to ensure consistency and compliance with the bank’s risk tolerance.

KEY ACCOUNTABILITIES:

Governance

• Primarily manage the comprehensive risk-reporting framework (covering risk profile of FAB Capital in KSA.) for the FAB Risk Committee to assist it in taking appropriate decisions within the set risk appetite.

Strategy Development and Implementation

• Maintain, execute and continuously improve FAB Branch & Capital’s Operational Risk frameworks, limits, and tolerances to assess and mitigate the risk exposures. Also ensure FAB KSA Branch & Capital operates within its pre-defined risk appetite, aligned to the group’s risk & business strategy.

Change Management

• Participate in management of change through continuous improvement of functional systems, processes and practices considering global standards and changes in the business environment, which demand proactive action plans.

Relationship Management

• Maintain effective business relationships with all relevant external/internal entities and all sections with the highest standards of business ethics, whilst promptly attending to all critical issues in-order to ensure the services required by the organisation are delivered in the most effective manner.

Reporting

• Ensure that all risk-related functional reports are prepared timely and accurately and meet local & Group requirements, policies and quality standards.

Job Context :

Operational Risk

• Documents Review: Review/approval of local business policies and standard operating procedures.

Ensure the validity of all policies and SoPs report the status to Risk Committee.

• KRI:
• 1) Facilitate the KRI set-up for FAB branch & Capital (Threshold, definition).
• 2) Monitor KRI data specific to FAB Branch & Capital re-breaches against acceptable thresholds.

• RCSA:
• 1) Run the risk assessment procedures across FAB Branch & Capital.
• 2) Monitor and review corrective actions in FAB Branch & Capital.

• Design: - Review loss and incident data actuals, near miss or potential events across FAB Branch & Capital.
• Monitoring: - Monitor and review corrective actions for loss incidents across FAB Branch & Capital.
• Review root cause analysis and corrective actions; monitor status of corrective actions across FAB Branch & Capital.

Regulatory Report

Where necessary, prepare reports for submission to local regulators.

ORAP:

• Facilitate the BU in completing the ORAP risk assessment document.
• Create action plan when control weakness are identified.

Outsourcing Oversight:

• Ensuring a thorough operational risk assessment has been undertaken as part of the Business Plan.
• Monitoring outsourced operations to ensure a robust control environment exists and new risk exposures are adequately identified.
• Ensuring stress scenarios and contingency plans are updated as required.
• Reviewing and updating FAB Branch & Capital’s activities within the outsourcing model on an annual basis.

Training and Awareness:

To uplift awareness of Op Risk practices and requirements for all FAB Branch & Capital employees.