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Our Client is a leading financial institution in the UAE. Their remittance services are utilized and relied upon by millions of customers in the GCC and internationally.
We are looking to place a Risk Manager to manage the overall responsibility for the risk profile by reviewing risk across various categories on an organization-wide basis.
Operational Risk Management
- Implement and manage a risk management framework.
- Develop operational risk policies and standards for risk management.
- Overall Operational Risk Register: Develop, Maintain and manage the centralized Risk Register for the whole organization. Ensure this contains risk items, descriptions, probability, impact, risk ranks, mitigation steps, contingency plans, Ownerships & Deadlines for implementing mitigation steps.
- Perform the Operational risk register review on a frequent basis.
- Perform Operational risk identification and assessment in business units.
- Define relevant risks to the organization (both financial and non-financial risks, including capital, credit, market, liquidity, operational, compliance, strategic and reputational, regulatory, and cyber risk aspects.
- Improve the internal controls and reduce the probability and potential impact of losses.
- Maintain an operational loss database and improve the risk and control culture within the organization.
- Implement a strategic plan to prevent, eliminate and mitigate operational risk.
- Assist in the development of key risk and control indicators.
- Implement and monitor varieties of tools, including notional limits for measuring market risks.
- Coordinate with concerned stakeholders in performing operational risk reviews.
- Track and monitor operating risk issues for business units.
- Report Operational risk issues and decisions to the Chief Financial officer on regular basis.
- Assist in identifying and evaluating risk areas across the operational activities.
- To measure control and report all associated risk and ensure the company operates within the risk appetite.
- Investigate root causes of operational risks and provide support to mitigate risks.
- Develop strong relationships with key stakeholders and business partners by addressing issues /concerns in a timely manner.
- Maintain documentation for risk management and risk policies and procedures.
- Keep abreast knowledge of the latest operational risk management techniques and industry best practices.
- To protect the integrity of the credit decisions and risk assessment process.
Anti-Money Laundering / Combating the Financing of Terrorism
- To measure the likelihood or probability that the business will unwittingly engage in money laundering or financing of terrorism.
- Products & Services Risk, Customers and entities risk, and geographic location risk.
- Risk Profiling Management.
- Implement and Manage the risk rating model tools.
Risk Framework Management
- Designing and implementing an overall Anti risk process for the overall company.
- Conducting Operational Risk Assessment on a periodic basis.
- Risk Reporting (Internal): Ensure periodical reports are submitted to the Board of Directors explaining the actions implemented/initiated to mitigate the risks occasions.
- Risk Reporting (External): Facilitate the immediate reporting of risk incidents to the police authorities, Financial Intelligence Department, & the Banking Supervision Department by co-coordinating with concerned stakeholders.
- Policy Management: To review the adequacy of risk policies and procedures.
- Manage & support all the relevant stakeholders within the organization.
- Ad-hoc assignments as required by the immediate line of authority.
Profile & Background
- Master’s degree in any stream
- Additional certifications/ Diploma in Risk Management is a must.
- Additional certifications from GARP (Global Association of Risk professionals) are an added advantage.
- Minimum 10 years of continuous experience in the risk management aspects.
- Business Communication English (oral & written). Arabic is an added advantage.
- Proficient in Microsoft Office (e.g. Word, PowerPoint, Excel, and Outlook).
- UAE driving license is a plus.
- Highly competitive package
- Reports to Chief Financial Officer
- Based in Dubai, UAE
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