Operational Risk Manager

Job Title: Operational Risk Manager

Location: Bahrain

Experience: 8+ years

Role Overview

The role focuses on refreshing policies, delivering training, conducting RCSAs, implementing control monitoring, performing assurance, supporting risk assessments, and enabling system implementations.

Reporting Line to the Head of Group Operational Risk

Key Responsibilities

• ORM Policies, Standards and Procedures (PSP) - Refresh the ORM Policies, Standards and Procedures that are due for update, Design and align the templates and workflows to support execution and governance.
• Training - Develop training materials for the updated PSPs. Deliver trainings to the wider staff in the first and second line.
• Risk Control Self-Assessment - Perform RCSA using the approach developed by Bank ABC. This includes reviewing the processes, identifying risks, assessing the inherent and residual risk ratings, conducting control assessments. Identifying the gaps and proposing remediation actions.
• Key Control Indicators - Develop and implement KCI for the controls identified through the RCSAs, setting the thresholds and management alerts.
• Conduct Control Testing and Assurance – Conduct tests for the selected controls. This includes developing testing scripts, setting evaluation criteria, sampling methodology and defining artifacts. Collecting evidence and conducting tests based on the defined methodology, documenting the evidence and reporting the results. Proposing remediation where required.
• Other Risk Assessments - Conduct Risk assessments for the New Products, change initiatives and for supporting Management decisions. Assess impacts on the bank's operational risk profile and define risk mitigation strategies
• System Implementations – Review the system capabilities and the RCSA and CT requirements under the Bank’s internal PSPs. Identify the customizations needed and translate into business requirement document for implementation

DELIVERABLES

Deliverables include, but are not limited to the below:

• Updated Group ORM PSPs with revised templates and workflows.
• Refreshed RCSAs and associated KCIs for ongoing control monitoring.
• Control testing and Assurance reports including remediation actions.
• Consolidated Risk profile reports covering RCSA outcomes and CT and Assurance results.
• Training presentations and materials for key OR framework components.
• Targeted Risk Assessments for new products and change initiatives.
• System BRDs for RCSA and control testing.

REQUIREMENTS

• Minimum 10 years of strong Operational Risk experience.
• Deep knowledge of Operational Risk framework with proven implementation experience in RCSAs, Control Testing and Assurance
• Well versed in the CBB regulatory requirements and industry best practices on operational risk