Head of Operational Risk Management

Role:Head of Operational Risk Management

Location: Abu Dhabi

Role Purpose:

• This is a Senior Management role, directly responsible for developing and leading a center of excellence for Operational Risk Management. 
• Leading and coaching the team of operational Risk Management. 
• The role requires a highly skilled, knowledgeable, proactive, and confident individual, with more than 15 years of experience in operational risk, fraud risk, compliance and various banking activities, who can establish the relations between various risk & control functions.
• Communicate and build strong relationships across the wider business, support and various governance functions. 
• He/she should possess the ability to leverage resources and capabilities across ADIB's businesses. 

The holder of this position will be mainly asked to:

• Develop policies, guidelines of Operational Risk Management Framework and lead their implementation throughout ADIB Group, ensuring alignment with the enterprise-wide Operational & Fraud Risk Management strategy, including articulation of the operational risk profile, risk appetite, and enabling improved decision­ making that explicitly considers operational risk.
• Partnering with the Business (the 1st Line of Defense) the Global Head of ORCA ensures the effective implementation of the ORM Framework by focusing on:
• Identification, analysis and assessment of operational risks
• Effective challenge, verification and validation of key control issues and operational risks
• Anticipation and mitigation of operational risk events
• Independently assess key operational risks, challenge and drive business action to effectively manage that risk.
• Develop, coach and keep updated ORM staff to reach the required the level of expertise for self-sufficiency of resources
• Keep close collaboration with the Internal Control System stakeholders to ensure efficiency and effectiveness of the latter.
• Produce regular reporting on the BUs risk profiles
• Act as a subject matter expert and provide leadership & advisory on ORM aspects.

This role includes but is not limited to the following:

Strategy Implementation:

• Lead the rollout of operational and fraud Risk Framework in ADIB Group including all subsidiaries.
• Lead and guide the implementation of Basel II requirements for ORM as well as best practices of operational risk management.
• Lead the Implementation of operational risk analytics with insight into key risk areas both on a current basis as well as on a predictive basis.

Program Management:

• Lead the implementation and sustainment of ORM programs and tools such as Risk & Control Self-Assessment practices (RCSA), Key Risk Indicators (KRls), Issue and Actions Plan Management, Incident Management, New Initiatives & Change Management in ADIB Group.
• Transfer and implement Operational risk best practices and lead the change required to do so.
• Guide the development and maintenance of operational risk policies and procedures within ADIB Group.
• Lead the management of operational risk programs in ADIB Group; own and maintains their standards and processes.
• Oversee policies and standards and ensure that they are being adhered to and exceptions are escalated to Senior Management or relevant executive committees.

Risk Identification, Assessment, Monitoring & Reporting:

• Lead the businesses in the identification of key operational & Fraud risk exposures within ADIB Group and challenge the business units risk rating where appropriate.
• Review significant increases in operational risk exposure to facilitate the development of risk mitigation measures
• Identify operational risks in new products and services through P&P reviews, Project & Product Assessments and highlight to the product/ process owners to facilitate effective risk mitigation.
• Lead the performance of operational risk assessments in accordance with ADIB's Operational Risk Management Framework.
• Oversee the policy and process for monitoring, escalating & reporting Issues and action plans identified by the Business and second or third LOD
• Lead the assessment and analysis as required by working with different stakeholders on Product Risk Review, problematic processes, outsource arrangements, key initiatives, significant loss events, etc.
• Develop basis to Identify, establish and create the links between various ORM tools such as Loss data, KRI, RCSA, Issues and actions, P&P review, and analyze the outcome.
• Oversee the operational risk reporting process to ensure timely escalation of incidents
• Oversee the management of root causes of major internal losses, Significant KRI breaches, Key Issues and actions to reduce the risk of loss from similar causes.
• Oversee that adequate risk responses are taken toward risk exposures including acceptance and escalation.
• Lead the assessment and analysis as required by working with different stakeholders on Product Risk Review, problematic processes, outsource arrangements, key initiatives, significant loss events, etc.
• Develop basis for analysis of the outcome of links created between ORM tools such as Loss data, KRI. RCSA, Issues and actions, P&P review
• Manage the relation between ORM and various risk stakeholders to jointly identify and assess risks such as compliance, fraud, information security, business continuity risks for inclusion in an integrated risk profile as part of an ERM approach.

Risk and Control Governance:

• Lead the assessment of controls' adequacy and strength in ADIB Group and recommends management action to ensure a stable risk profile.
• Develop basis for analysis of the control environment information pertaining to ADIB Group.
• Recommend and review regular reports on operational risk profiles, analysis and exposures.
• Manage the requirements and respond to Internal Audit Review (IAR) and visits for Operational Risk 
• Committees/Management Committees
• Ensure operational risk data meets minimum standards for interna l and external reporting
• Guide and advice Business Operational Risk Management Committees across the various groups 

Operational & Fraud Risk Management Center of Expertise:

• Coach ORM stakeholders with respect to operational risk programs including development of training material and conducting general and technical training sessions for various ORM tools.
• Research and Lead ORM Projects in relation to systems, platforms, tools and training.
• Lead and provide Advisory to ORM stakeholders and Business units and share best practices.
• Lead the center of excellence for education and advocacy of information on ADIB Group's Operational & Fraud risk management practices and programs to foster sound ORM in ADIB Group leading to embedding an Operational & Fraud risk mind-set in the business.
• Lead trainings to enhance awareness of operational risk management (tools/ system) and facilitate the establishment of a risk management culture across ADIB.

Managerial/ Supervisory Excellence:

• Promote a strong culture of control awareness and risk mitigation in all dealings with the business and Global Risk Management.
• Provide focus and clarity in establishing individual goals, driving performance management, supporting career development and rewarding strong performance.
• Promote a strong culture of control awareness and risk mitigation in all dealings with the business and Global Risk Management.
• Accept and successfully execute change while supporting employees through the process and keeping them focused on business priorities.
• Risk programs
• Support the implementation of ORM Projects in relation to systems, plat forms, tools and training.
• Acts as a Center of Excellence for education and advocacy  of information on ADIB Group's Operational & Fraud risk management practices and programs to foster sound ORM in ADIB Group leading to embedding an Operational & Fraud risk mind-set in the business.

Managerial / Supervisory Excellence:

• Embody the values of ADIB Group in the daily relation with ADIB's staff.
• Demonstrate a collaborative work ethic and enterprise-wide mind­ set and leadership in the performance of duties.
• Promotes a strong culture of control awareness and risk mitigation in all dealings with the business and Global Risk Management. Accepts and successful execution by self and the team.

Specialist Skills/ Technical Knowledge, Technical Competencies Required for this role:

• Working knowledge of leading international and local operational risk practices, BASEL principles, regulatory requirements and guidelines
• Executive-level presence and demonstrated ability to collaborate with Senior Management-level professionals.
• Good stakeholder engagement skills
• Strong presentation and communication (verbal and written) skills.
• Strong problem solving, analytical (including qualitative analysis), research, and quantitative skills
• Strong knowledge of Islamic Banking's products, processes and organization
• Advanced Computer skill s (e.g. Microsoft Office Suite)
• Master’s degree from a reputable university is highly recommended
• A variety of degrees from professional accredited bodies are highly recommended in the fi elds of operational risks, compliance, fraud Audit, etc... such as (CCSA, CIA, CFE, CORP, CAMS, etc)

Previous experience:

• Bachelor's Degree with 10 years of progressive Financial Services industry experience out of which at least 6 years in Operational Risk Management, Control or Compliance roles.