Required Qualifications:  Master’s/ Bachelor’s degree (16 years of equivalent education) in quantitative discipline (Actuarial Science, Statistics, Finance or Mathematics) from HEC recognized institution.

Experience (post qualification):  Minimum experience  of more than 10 years in Operational Risk Management including 5 years’ experience as supervisory level in operational risk management in top 10 Bank/FI’s, regulatory expectations and market practice.

Age: (as of last date of submission of application) Maximum 45 years

Details:

Key Responsibilities:

• To develop operational risk and other related polices and ensure timely annual review of all risk policies.
• Establish and supervise operational risk policies, reporting, and operational risk governance
• Responsible for identifying, measuring, monitoring, and controlling operational risks inherent in the key processes and activities of all departments of the organization.
• Review all products and processes with a view to ascertain the operational risk issues are identified and fully captured mitigated/controlled.
• Engage with risk owners to promote operational risk management practices and culture across their respective areas.
• Establish the following operational risk monitoring tools and their documentation to assist senior management in assessing the risk emergence and effectiveness of the control structure
  • Risk and Control Self-Assessment (RCSA)
  • Internal loss database & incident management
  • Key Risk Indicator (KRI)
  • Heat Map
  • Risk Register
• Lead the above tools and guide, support departments in the identification, assessments, and mitigation of key operational risks in line with the ORM framework. The exercise will aim to map key activities and identify associated risks & controls.
• Wherever possible, establish key risk indicators with thresholds to monitor trends on a periodic basis.
• Where possible, establish testing of controls on a periodic basis for providing assurance of the control structure.
• Establish template and procedure for reporting of operational loss incidents in order to take early actions to minimize losses. Conduct root cause analysis of operational loss incident to identify and mitigate areas of weakness.
• To develop operational risk appetite & tolerance limits and its implementation strategy
• Articulate the residual risks vis-à-vis the overall risk appetite & risk mitigation strategy of the company and offer risk advisory to the front-end business units.
• Ensure timely completion of Risk & Control Self-Assessments (RCSA) & validation of control testing of the functions in the company.
• To set threshold levels for KRI and monitoring of KRI breaches & action plan implementation.

• Support the Chief Risk Officer in the reporting of operational risk to the Operational Risk Management committees
• To support operational risk analysis in line with the Operational Risk Framework e.g. quarterly risk reviews, annual risk register reviews, updating risk appetites and its validation.

• Facilitate Risk and Control Self-Assessment (RCSA) workshops for all functions to identify residual operational risk and arrive at key risks in the processes.
• Understanding of Business Continuity Plan (BCP) and provides support in testing of the same.
• Train, educate, and coach staff with regard to standard engagement processes, compliance subject matter expertise, and other relevant knowledge to help with professional development
• Ability to independently lead and undertake specific operational risk-related projects and assignments from time to time as directed by the Chief Risk Officer.

• Undertake ad-hoc assignments from the Chief Risk Officer.

Essential Skills & Competencies:

• Ability to lead the development of the bespoke system, in the absence of an off-the-shelf option.
• In-depth knowledge and understanding of Operational Risk Management, Basel & IFRS 9.
• Hands-on with Operational Risk Management Software and knowledge of Advanced Excel, VBA.
• Candidate must be proactive, highly organized, and can multitask and work in a fast-paced environment.
• Strong communication and interpersonal skills with the ability to establish and maintain effective working relationships.
• Knowledge and hands-on with Advanced Excel, Power BI, VBA, C++, SPSS/SAS, and other programming skills, with experience in working with large datasets