Requirements
The role requires support in implementing and maintaining the Operational Risk Management framework, identifying, assessing, managing, and reporting operational risks. Key responsibilities include supporting the RCSA, KRI, SII, Incident, Risk Acceptance, and Actions processes, tracking corrective actions, and assisting with the escalation and recording of operational risk events.
Description
Job description / Role
Job Type
Full Time
Job Location
UAE
Nationality
Any Nationality
Salary
Not Specified
Gender
Not Specified
Arabic Fluency
Not Specified
Job Function
Finance, Business Analysis & Consulting
Company Industry
Banking & Financial Services
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 role is to support the implementation and maintenance of the Operational Risk Management framework and identify, assess, manage, and report operational risks to ensure effective monitoring and compliance across the organization.
Responsibilities:
Provide support in meeting department’s objectives, and in implementing bank-approved ORM plan.
Work closely with the Senior Operational Risk manager in implementing the Operational Risk Framework across the bank.
Support and monitor the implementation of Operational Risk Tools i.e., Risk and Control Self-Assessment (RCSA), KRI, SII, Incident, Risk Acceptance and Actions across various lines of business within the bank that includes actions required from new products as well as for the bank’s outsourced vendors.
Track the actions captured within the RCSAs and ensure the implementation of the proposed actions within the designated timeframe.
Support the Operational Risk Portfolio Leads to conduct independent governance and monitoring of operational risks tools to ascertain any control deficiencies and propose mitigating controls to enhance the control environment.
Assist the Senior Operational Risk portfolio leads and business & functions FLOD with the escalation and recording of Operational Risk events, challenge remedial and preventative actions to prevent reoccurrence as well as ensuring any customer issue is being handled and resolved on a priority basis to reduce any reputational losses to the bank.
Collect, review and report KRI’s / Risk Appetite metrics, analyze and escalate in case of KRI threshold breach/irregular variance to identify the root cause and enforce remedial and preventative actions.
Support in ensuring operational losses are written off in a timely manner and through the designated GL.
Support the team to periodically monitor and analyze operational loss entries in the GL and send a monthly report to the stakeholders.
Work closely with various units across the bank to recover any actual financial losses as well as taking appropriate actions to prevent any identified potential losses.
Support the Head of ORM in managing the OR trainings and refresher sessions to ensure adequate controls and understanding are embedded within the operational processes at the FLOD level.
Evaluate and escalate critical and emerging operational risks to line management.
Support the Head of ORM on all training and refresher sessions.
Support the ORM team with detailed reports and presentations on operational risk matters for management, Audit and ORM Committee.
Work closely with relationship owners of the bank’s outsource vendors to ensure full alignment to 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.
Ensure all actions are monitored and do a periodic follow up with the action owners to avoid overdue actions.
About the Company
In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.
By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.
Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.
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