Head, Operational Risk
Head, Operational Risk
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Job Description
DUTIES AND RESPONSIBILITIES
Operational Risk Management:
Develop and implement the operational risk management framework and strategy ensuring that operational risks are effectively identified assessed and managed.
Lead the identification and assessment of operational risks across all business units and processes.
Work closely with senior management to develop and implement risk mitigation strategies and ensure that operational risks are aligned with the organizations risk appetite.
Monitor and report on operational risk exposure ensuring that risk limits and mitigation strategies are in place and adhered to.
Ensure that operational risks are considered in all key business decisions and that appropriate risk assessments are performed for new products systems and processes.
Risk Assessment & Monitoring:
Oversee the development and execution of operational risk assessments ensuring comprehensive identification of potential risks across the organization.
Continuously monitor key operational risks key risk indicators (KRIs) and risk trends identifying emerging risks and areas of concern.
Lead risk assessment exercises and ensure the integration of operational risk assessments into business planning and decision-making processes.
Provide guidance and oversight on business continuity disaster recovery plans and other operational risk-related strategies.
Compliance & Regulatory Requirements:
Ensure that operational risk management practices comply with local regulations industry standards and internal policies.
Monitor changes in regulatory requirements related to operational risk and ensure that the organization adapts its risk management practices accordingly.
Ensure that operational risk frameworks are aligned with industry best practices and regulatory expectations contributing to the organizations compliance and audit readiness.
Reporting & Stakeholder Management:
Prepare and present regular reports on operational risk management to senior management the Board of Directors and key stakeholders.
Provide insights and recommendations to senior leadership on how to improve operational risk management practices.
Act as the primary liaison for operational risk-related matters collaborating with other departments (e.g. internal audit legal compliance) to ensure a comprehensive approach to risk management.
Escalate significant operational risks to senior management and ensure appropriate action is taken.
Risk Culture & Training:
Foster a risk-aware culture across the organization encouraging all employees to identify assess and manage operational risks in their respective roles.
Develop and deliver training programs to staff at all levels to raise awareness of operational risks and best practices in risk management.
Promote the integration of operational risk management principles into day-to-day operations and decision-making processes across all business units.
Incident Management & Remediation:
Lead the investigation of operational risk incidents including root cause analysis and corrective actions.
Ensure that lessons learned from operational risk events and near misses are incorporated into risk management strategies.
Oversee the implementation of remediation plans for operational risk incidents to prevent recurrence and enhance operational resilience.
REQUIREMENT
Education
University degree in Risk Management Social Sciences Finance Business Administration Accounting or related field.
Professional Certifications:
Certified Risk Manager (CRM) or Financial Risk Manager (FRM) is preferred.
Operational Risk Management or related certifications would be an advantage.
ISO 31000 Risk Management certification is also a plus.
General Experience:
A minimum of 7 years of experience in operational risk management preferably in the financial services banking or payments industry.
Proven track record of leading risk management initiatives and implementing risk management frameworks within an organization.
Experience in dealing with operational risks related to technology processes systems and third-party vendors.
Skills & Abilities:
Strong understanding of operational risk management frameworks risk assessment methodologies and incident management.
Proven ability to analyze complex operational risks and develop strategies to mitigate them.
Leadership skills with the ability to manage and influence teams across the organization.
Excellent communication and presentation skills with the ability to engage senior management and stakeholders.
Strong problem-solving skills and the ability to implement effective remediation plans.
REPORTING RELATIONSHIPS
Functionally reports to: Group Head Enterprise Risk Management
Required Experience:
IC
Employment Type
Full-Time
