Operational Risk Approvals Analyst

Job Summary: -

The Operational Risk Officer is responsible for reviewing and assessing operational procedures, work manuals, products, IT systems, and projects (both new initiatives and modifications) to identify, evaluate, and mitigate operational risks in line with ISO 31000, COSO 13, Basel Committee principles and the Bank’s Operational Risk Framework. The role includes recommending effective internal controls, monitoring implementation, and ensuring compliance with the bank’s outsourcing and third-party risk management policies.

Job Responsibilities: -

• Assess new products, processes, IT systems, and projects to identify inherent risks and evaluate their financial and non-financial impact.
• Classify risks per Basel categories and confirm mitigating controls are reflected in the RCSA.
• Analyze historical loss data, KRIs, and inspection reports to test control effectiveness.
• Recommend and follow up on enhanced controls to address gaps, reduce exposure, and prevent recurrence.
• Monitor implementation and ensure alignment with the Bank’s framework and CBE regulations.
• Validate adequacy of final procedures to reflect risk recommendations.
• Review outsourcing and vendor documents (contracts, SLAs, amendments) for compliance with policies and regulations.
• Conduct risk assessments across onboarding, due diligence, periodic reviews, and exit strategies.
• Analyze vendor performance against KRIs, fraud/IT risk findings, and loss data.
• Recommend actions to strengthen oversight and confirm service providers meet agreed risk, compliance, and performance standards. Ensure proposals and contracts secure necessary internal and regulatory approvals.
• Verify approvals and signoffs are obtained per delegated authority. Provide data, reports, and analysis to the Operational Risk Sector. Coordinate with stakeholders to ensure timely communication of requirements and recommendations.

Job Requirements: -

• University degree in Business, Finance, Accounting, Economics, or related discipline.
• Minimum of 3 years of banking experience, with at least 1 year in Operational Risk Management, Vendor/Outsourcing Risk, or Internal Control functions.
• Strong knowledge of Basel II/III operational risk principles and CBE outsourcing/third-party regulatory requirements.
• Analytical mindset to interpret vendor data, incidents, KRIs, and control adequacy
• Excellent command of Arabic and English (written, spoken, and reading).
• Strong computer literacy, including advanced MS Excel, risk systems, and data analysis tools.