Description
Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.
CBD has been recognized as the number one bank in the UAE on the Forbes list of The World’s Best Banks 2022.
As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.
Job Purpose
The purpose of this 2LoD role is to enhance and manage the Operational Risk Management Framework (ORMF) across the bank, provide independent and creditable challenge to 1LoD, identify emerging risks, improve the control environment, and reduce operational risk incidents / losses and reputational damage to the bank.
Principle Accountabilities
- Provide independent credible challenge on the identification, assessment, measurement, mitigation and monitoring of operational risks through continuous monitoring with participation in relevant control forums and operating committees, investigating operational risk events, monitoring KRIs and through conducting RCSA, Control testing (CT), Deep dives and Trend analysis.
- Challenge business risk profiles where the residual risk levels are deemed to exceed the operational risk appetite for the business
- Promote and instill a strong culture of Operational Risk Management (ORM)
- Work with the business to continually improve operational risk management process and business operating models supporting safe business growth and informing risk-based decision making
- Work closely with Businesses and Business Risk Managers to ensure the ORMF is communicated, understood and applied across all LOBs and Functions
- Act as a point of expertise advising the business, other functional groups and stakeholders on ORMF and all other operational risk-related matters
- Provide independent credible challenge on operational risk-related matters
- Drive further development and facilitate RCSAs and CTs across various lines of business and supporting functions
- Track the actions captured within the RCSAs / CTs and ensure the implementation of the proposed actions within the designated timeframe
- Deliver Trend analysis of operational incidents and customer complaints
- Conduct risk analysis of New products and deliver post-implementation review
- Collect, review and report KRI’s / Risk Appetite metrics, analyze and escalate in cases of KRI threshold breach/irregular variance to identify the root cause and enforce remedial and preventative actions
- Review Bank policies and standard operating procedures to ensure adequate controls are embedded within the operational processes
- Evaluate and escalate critical and emerging operational risks to the Head of Operational Risk
- Review and update the ORM policies and procedure where applicable
- Develop detailed reports and presentations on operational risk matters for management and ORM Committee
- Work closely with the relationship owners of the bank’s outsourced vendors to ensure full alignment with the bank’s Vendor Risk Management policy and procedures as well as CBUAE regulations and enforce the completion of the requirements within the designated timelines
Requirements
Experience and Qualifications
- 7+ years of relevant experience in 1LoD operational risk or in a control function with a solid knowledge of operations and process across various business lines within a financial institution
- 3+ years 1LoD risk or control function experience in Technology domain
- Practical experience in organizing and conducting RCSAs, Control Testing, Thematic Reviews and Trend Analysis
- Bachelor's degree
Skills
- Exceptional knowledge of operations and processes across Retail and Wholesale business lines
- Strong risk and controls mindset
- Advanced Excel skills required to establish and deliver Trend Analysis
- Strong analytical skills
- Strong attention to detail and a desire to build a robust, flexible, sustainable structure around new and undefined processes
- Strong problem-solving skills
- Advanced PowerPoint skills
- Experience with MetricStream platform would be an advantage