Operational Risk Manager

Responsibilities:

• Risk Identification and Assessment:
• Analyze business processes and activities to identify operational risks, including internal processes, human error, system failures, and external threats.
• Perform risk assessments and develop risk profiles for various business units.
• Collaborate with stakeholders to determine the risk appetite and tolerance levels.
• Risk Mitigation:
• Design and implement risk control measures, policies, and procedures to minimize potential risks.
• Develop contingency plans and business continuity plans to handle identified risks.
• Work with different departments to ensure controls are integrated into operational processes.
• Monitoring and Reporting:
• Monitor and evaluate the effectiveness of risk controls and mitigation strategies.
• Generate regular reports on risk exposure, incidents, and near-misses.
• Present risk reports to senior management, providing insights and recommendations for action.
• Compliance and Regulation:
• Ensure adherence to relevant regulatory requirements and industry standards related to risk management.
• Keep up to date with changes in regulatory guidelines and recommend adjustments to internal policies as needed
• Incident Management:
• Oversee and manage the investigation of operational risk incidents, identifying root causes, and implementing corrective actions.
• Maintain a risk event database and track the status of remedial actions.
• Training and Awareness:
• Develop and deliver training programs to educate employees on risk management policies and procedures.
• Promote a culture of risk awareness and accountability within the organization.
• Risk Strategy and Framework:
• Contribute to the development and implementation of the organization’s risk management framework.
• Provide strategic input into the overall risk management process, aligning it with business objectives.
• Data Analysis and Reporting Tools:
• Utilize data analytics tools to analyze risk data and identify trends, emerging risks, or areas requiring further investigation.
• Develop dashboards and key risk indicators (KRIs) for ongoing risk monitoring.

Key Performance Indicators (KPIs):

• Number of risk incidents and near-misses.
• Effectiveness of implemented risk controls.
• Timeliness and accuracy of risk reporting.
• Compliance with regulatory requirements and audit findings.
• Risk training and awareness programs delivered.

Requirements:

• Bachelor’s degree in finance, Business, Humanities, Risk Management, or related field (Master's degree preferred).
• Professional certifications such as PRM (Professional Risk Manager), FRM (Financial Risk Manager), or equivalent.
• Minimum of 5-7 years of experience in operational risk management, preferably within the financial services, banking, or Insurance industry.
• In-depth knowledge of risk management frameworks (COSO, ISO 31000), regulatory requirements, and risk assessment methodologies.
• Strong analytical, communication, and presentation skills.
• Proficiency in risk management software and data analysis tools.

Skills:

• Strong problem-solving abilities and attention to detail.
• Ability to work in a fast-paced, dynamic environment.
• Excellent project management and organizational skills.
• Strong leadership abilities, capable of working collaboratively across departments.
• Ability to manage multiple priorities and meet deadlines.