JOB DESCRIPTION
1.
Job Details
Job Title:
¤ Asst Operational Risk Dy. Manager
Grade
¤ For HR Evaluation only
Department:
¤ Risk Group
Location:
¤ UAB, Head Office
Direct Line Manager:
Date reviewed:
¤ Nita Mehta
¤ …. 2013
New review date:
¤ …..2015
2.
Job Purpose
The main objective of this position is to lead and support a robust risk management & control environment, through implementation
of the operational risk and internal control framework and governance.
The position will also cover ensuring that the existing risk and control environment is adequately represented in RSAs and that all
material risks in the business have effective controls in place for mitigation.
The position will cover testing of controls in various units and work with internal stakeholders to ensure adequate audit
preparedness and management of ineffective controls. This position also covers maintenance of an independent oversight
(monitoring) on Governance through embedding of processes and regular health checks in order to identify inherent/residual risks.
Following are some salient activities for this role :
¤ Ensures timely identification of existing risks / control failures and liaising with functional process owners to ensure adequate
preparation for audits;
¤ Ensures all RSAs accurately reflect the existing risk and controls embedded, and periodic update / maintenance of the same;
¤ Ensures that risk events are reported in a timely manner and, for material risk events, a root cause analysis is carried out and
that, along with the risk event owner that action plan is properly closed;
¤ Carries out risk event theme analysis to identify the focal areas requiring management attention;
¤ Drives prioritisation in terms of audit requirements/observations;
¤ Reports, tests and evidences effectiveness of controls and management of underlying risks on a regular basis;
¤ Ensures all open ineffective controls highlighted during RSA testing, incidents, testing results, key issues and observations can
be linked back to underlying controls/risks (owners);
¤ Ensures policy compliance and attestation from each policy owners to ensure that any partially compliant policies have clear
dispensation and the right level of attention on remediation;
¤ Ensures proper management of governance, specifically in terms of presentation of risk landscape to senior management and
drive remediation plan.
In addition to the same, the role also requires preparation of MIs, update presentations and reports for circulation to internal
stakeholders. Further, the role requires working closely with all team members and remaining abreast of developments in their
work, so as to be able to assist or act as a backup if required.
3.
Job Dimensions
Volume of Staff Supervised
(Direct reports and Indirect/ dotted
line reports)
¤ None
Resources under control (eg,
direct budget, sales target,
¤ None
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JOB DESCRIPTION
financial impact on UAB results)
Authority level and limits
¤ None
4.
Organization Chart HR to complete
5.
Job Accountabilities
Description
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Performance Indicators
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Risk and Control Self Assessments
¤ Direct and implement, in conjunction with the business, an agreed
programme of Risk Self Assessment
¤ (RSAs) to identify and assess the key risks to business
¤
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processes/systems, to determine the effectiveness of operational
controls and to advise the business on control improvements and
risk mitigation;
Related risk assessment/conformance testing (in light of issue
origination, remediation and embedding);
Build and maintain effective relationships with related
stakeholders to ensure cooperation and quick closure of action
points;
Deliver value-adding risk assessments and advice to change
projects and new products to ensure changes to the business risk
profile are properly quantified and mitigated/managed within
agreed risk appetite;
Ensuring effective process of ineffective controls management
with accurate actions and timelines identified, and a process of
adequate tracking and reporting of the same.
Risk Events, Key indicators
¤ Ensure effective risk event management and reporting process in
¤
¤
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¤
place, promote and support timely and complete reporting of risk
events (including frauds), Key Risk Indicators and control issues
by the business
Promote and support timely and complete reporting of risk events
(including frauds), Risk events are timely reported and for material
risk events, root cause analysis is carried out and drives closure
of action plan with risk event owner. Carry out risk event theme
analysis and also data analysis to ensure completeness and to
identify the focal areas requiring management attention
In partnership with business management, lead post incident
reviews to identify and analyse root causes and learning and to
ensure that any necessary remedial actions or control
improvements are implemented to prevent future losses and
events.
Change management: Deliver value-adding risk assessments and
advice to change projects and new products to ensure changes to
the business risk profile are properly quantified and
mitigated/managed within agreed risk appetite.
Risk event management: Ensuring effective risk event
management and reporting process in place, promote and support
timely and complete reporting of risk events (including frauds) by
the business.
Ensure effective policies and regulatory compliance monitoring
and reporting process in place.
MIS
¤
¤
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targeting priority areas and ensuring all areas of the
Bank’s activities are periodically reviewed.
Risk Assessment reports clearly documenting the
nature, frequency and estimated scale of risks.
# of Risk Assessments performed versus planned
(and time frame).
Improve Risk Management awareness by improving
MIS on ineffective controls, issues, actions and
overdue actions, risks including increase in risks.
Regular MIS.
¤ Implementation and Management of KRI.
¤ ORAP open action tracker.
¤ Number of new Risk Management improvements
made during the year arising out of risk events.
¤ Policies register.
¤ Regular review and update of the Operational Risk
¤ Oversight and responsibility over the preparation, maintenance,
¤
¤ Risk Self Assessment plan produced each year
dissemination, interpretation of Operational Risk Policies and
Terms of Reference.
Ensuring that standard Operational Risk procedure manuals,
program checklists & templates are in place to articulate key
processes and that these are up to date and are adhered to in an
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Map following Risk Assessment.
¤ Effective follow-up for closure of all ineffective
controls, issues and actions.
¤ Timely submission of reports (minimum on a quarterly
basis).
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JOB DESCRIPTION
effective way.
¤ Providing the necessary guidance and support to the business in
¤
reporting Operational Risk reporting metrics relating to RSAs, Key
Risk Indicators and Audits.
Coordinating and liaising with the business in ensuring that the
Operational Risk aspects of governance and regulatory
requirements are implemented and adhered to in a satisfactory
way.
6.
Job context
Problem solving &
Innovation
Main Challenges
¤ Awareness of Bank’s products, policies and procedures.
¤ To manage the Department efficiently and keep confidentiality of information.
¤ Implement Best Practices in Ops Risk functions at UAB.
¤ The job holder must demonstrate the ability to anticipate possible issues or risks of which others may
be unaware.
¤ Identifying and recommending risk mitigation issues.
¤ Applying best practice Risk Management methods and assessment tools.
Internal working relationships
¤ Line managers and other staff members
¤ CEO’s Office
¤ Deputy CEO
Client relationships/
Interpersonal skills
Risk management
Planning &
Organizing
External working relationships
¤ ADX & SCA
¤ Central Bank
¤ Ministries
¤ Board of Directors’
¤ Shareholders
¤ Board Secretary
¤ This role is primarily responsible for:
¤ Assessing, measuring and communicating the risks contained in the Bank’s operational activities.
¤ Minimizing the operational risks of the Bank through either suggesting mitigation strategies or
recommending changes to operational processes.
¤ Plan the annual calendar of Risk Assessments and Evaluations
¤ Meet reporting requirements for the Risk Committees and external bodies
¤ Able to respond to changes in business priorities/critical issues without losing track of planned
activities.
¤ Maintain efficient document control and storage.
7.
Qualifications, Experience & Skills
Essential
Qualifications:
¤ Bachelors Degree
Experience:
¤ 5 years experience in Banking
Job Specific Skills:
¤ Banking knowledge
¤ A clear understanding of Operational Risk
Management, risk identification and control tools.
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Desirable
¤ Certification in Ops Risk
Management (preferable)
¤ In Risk Management
¤ Knowledge on various laws and
regulations and the general legal
environment
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JOB DESCRIPTION
¤ Ability to think “outside the box”
Generic Skills/Requirements:
¤
¤
¤
¤
Good PC Skills (MS Office products)
Friendly, confident and positive in action.
Good communication skills
Team Player
¤
and apply creative and
constructive thinking.
Proven ability to work effectively
with all levels of Senior
Management and Bank
employees, Internal and External
Auditors, Regulators, and
Government representatives
¤ Attention to Detail – highly detailed focused; able
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¤
Competencies:
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¤
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to evaluate detailed financial data; able to map
business processes and to identify errors,
omissions and gaps.
Analytical skills – able to identify relevant
information, draw conclusions and produce clear
recommendations
Risk assessment/Initiative – anticipates and
prepares for specific issues or problems that may
not be obvious to others; pro-active – doesn’t wait
for issues to arise, able to adjust quickly to shifting
priorities
Organization – able to manage own time and to
re-prioritize tasks according to needs
Perseverance & Resilience – able to maintain
concentration and motivation over long periods of
time and will not give up until results are produced
Drive - self motivated and proactive. Self-starter.
Professional Judgment – identifies a number of
solutions and weighs the value of each to improve
results;
Flexible/Adaptable – able to adapt to different
situations and change approach when dealing with
different issues/people; not fazed by new
situations;
8.
Approvals
Input : Line Manager / Dept. Manager
_________________________________
Signature
Ratified : Human Resources
___________________
Date
_________________________________
Signature
Approved : General Management
___________________
Date
_______________________________
Signature
___________________
Date
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