VP- Operational Risk- Credit (UAE National)

 FAB, the UAE's largest bank and one of the world's most secure financial institutions, is dedicated to creating value for its employees, customers, shareholders, and communities. Through innovation, agility, and differentiation, FAB is committed to fostering growth. We are looking for top talent and your success is our success. Accelerate your growth as you help us reach our goals and advance your career. Be ready to make your mark a top company, in an exciting and dynamic industry

JOB PURPOSE:

• The purpose of the role is to exercise operational risk monitoring and assurance of the business line across Head Office UAE to mitigate Operational Risk exposure. The roles spans across FAB Group HO entities & Subsidiaries in UAE.
• To individually manage the operational risk of the assigned function
• To maintain independence of Risk Function in challenging the business on matters of divergent views.

Key Roles & Responsibilties

• Monitor and oversee the implementation of operational risk initiatives within the relevant business group
• Lead and participate in the identification, assessment and prioritisation of operational risks across the assigned portfolio
• Develop and implement risk mitigation solutions to reduce the likelihood and impact of operational losses
• Conduct operational risk assessments for the new/amended products, processes, system flows and projects
• Carry out periodic operational risk reviews to ascertain & strengthen the risk profiles of the business portfolio
• Identify functions / activities of High Risk, enhance their monitoring and report appropriate actions taken to implement controls & to avert potential flare up of risk events
• Enhance coverage & quality of risk & controls library across units within the portfolio
• Ensure prompt completion of the RCSA through active review, challenge and validation of control testing of the functions in the business group
• Enrich KRI quality, threshold levels, reporting and validations and review breaches to fix the rootcause
• Articulate the residual risks vis-à-vis the overall risk appetite & risk mitigation strategy of the group and offer risk advisory to the front-end business units
• Provide risk advisory on operational risk initiatives and other relevant projects, to business stakeholders
• Review and analyze the root cause of reported incidents in the ORM system & escalate to business heads as necessary
• Review and monitor action plans agreed within the business group for operational risk initiatives
• Review loss data trend analysis and monitor loss approvals as per DOA within the business group
• Prepare & assist in periodic dashboards & other relevant reports as necessary & mandated
• Conduct monthly portfolio reviews with business groups and highlight operational risk issues for timely actions
• Partner with business teams to raise awareness of operational risks and ensure risk management practices are integrated into daily operations. Train / coach as necessary.
• Assist business functions in day-to-day activities related to Operational Risk management
• Act as single point of contact for business groups on operational risk matters
• Contribute to develop, maintain and implement the operational risk policies, procedures and framework
• Stay abreast of regulatory requirements and industry best practices for operational risk management
• Ensure all queries from audit are satsifactorily responded and recommendations from regulator / internal audit are promptly implemented
• Maintain a collaborative and engaging work environment and enrich the skillsets of the team members through coaching / training programs
• Undertake & engage in adhoc assignments from the Management

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JOB KNOWLEDGE SKILLS AND EXPERIENCE :

• Graduate / Post-graduate / Management diploma in Business management
• Minimum 12 years of hands-on banking experience in Risk management covering at least two major functions involving Credit –  Credit & CAD / CIB / Retail & Private banking/ Global Markets, internal controls
• Proven experience in project handling and management with impeccable track record
• Deep understanding of banking products and risks involved
• Experience in developing and implementing Operational Risk Management framework and Internal Controls
• Relevant industry body certifications in Operational Risk, Anti-Fraud, InfoSec or BCM preferred
• Sound relationship management and influencing skills
• Strong analytical capabilities & problem solving
• Proactive self starter &  pragmatic solution driven expertise
• Team player & attention to detail /accuracy