Head - Operational Risk - Bank

Head of Operational Risk for one of the leading commercial banks in Saudi Arabia

Employment title - Head - Operational Risk

Location - Riyadh, Saudi Arabia

Department - Risk Management

Typically reports to - Chief Risk Officer

Job Responsibilities:

The Candidate’s responsibilities will include (but are not limited to);

- Develop operational risk management governance process and strategy

- Develop and maintain bank-wide operational risk management, framework, polices and guidelines

- Inculcate operational risk management culture by operational risk awareness programmes

- Monitor the environment to identify regulatory/legal/business/industry changes that could impact the Bank

- Develop, maintain and operational risk key indicators in the key business processes and report to management and risk committees

- Review of operating losses summary data to ensure that key control themes are identified and that risk mitigation actions are adequate;

- Consult with business units regarding resolution of operational risk issues including regulatory examination recommendations;

- Ensure that operational risk models to measure operational losses are developed and implemented;

- Review the capital charge for operational risk and ensure accuracy

- Ensure Bank-wide compliance with Bank act regulations on operational risk

- Lead or participate in bank-wide and industry operational risk related committees as requested;

- Develop and maintain close ties with Business Units to ensure informal early warning communication channels in place to identify business developments that potentially impact the Bank's operational risk profile;

- Coordinate and produce quality risk management reports for the Operational Risk Committee and Board Risk Committee;

- Ensure that the business continuity plans are updated and tested on a regular basis;

- Ensure risks inherent in new products, services and processes are assessed and mitigation actions identified and recommended to the respective Business Units;

- Assess risks inherent in outsourced functions and ensure exposures are effectively managed and reported;

- Drive special risk projects as assigned by the Chief Risk Officer

- Lead, guide and motivate the operational risk team;

- Provide proactive operational risk management coaching/mentoring/training for staff at all levels throughout the Bank.

Educational Qualifications:

Master’s degree from an accredited college or university in commerce, finance, accounting, and/or economics /MBA/CA

Professional Experience:

Minimum of ten (10) years of Banking experience with at least 3 years in a Senior Operational Risk role.

Personal requirements:

Basic knowledge of treasury and capital market products

In-depth local market knowledge (covering all regions)

Strong interpersonal, organization and communication skills

- Ability to lead or contribute to large, complex, working groups.

- Good problem solving, influencing and decision making ability

Strategic thinking

English essential (Arabic preferable)

Remuneration: 130,000 US Dollars per annum (tax-free)

Vibhanshu Bisht