Operational Risk Officer at Family Bank Ltd

Job Purpose:

The holder will assist in providing an independent review of operational and reputation risk management by monitoring and analysing operation activities in the bank to ensure the exposure to operational and reputation risk is within acceptable levels.

Key Responsibilities:

• Identification, measurement and reporting of operational, regulatory, compliance and other related risks in line with the bank’s operational risk management policy and the Basel accords.
• Review the bank’s processes and procedures in the business units and branches to identify areas of improvement and make appropriate recommendations for process improvement.
• Assist risk owners in conducting Risk-Control Self Assessments
• Maintain and continuously update incident reporting database, loss data database and analyze trends on incidences for reporting and action by management.
• Ensure that there are adequate MIS and standards of identifying, monitoring, measuring and controlling operational risks periodically.
• Assist the Operational Risk Manager in the training of staff on operational risk areas
• On a proactive basis, identify, document and assess the operational risks associated with bank’s activities, including the development of new products and new business practices.
• Monitor operational risk landscape, developments and participate in industry-wide initiatives.
• Assist in development of operational risk mitigation strategies for the bank’s critical risks and for monitoring the risks
• Support process owners and risk champions with identification of key risk indicators in their respective functions aimed at mitigating those risks
• Operation Risk Mapping & Risk registers update
• Assist in development and communication of operational risk management tools including Risk Control Risk Assessments and incident reporting
• Continuously updating and monitoring Incidents emanating from branches and departments.
• Co-ordinate with legal, internal audit, operations, and other control functions to manage, operational risks in the bank.
• Ensure continuous improvement in operating procedures to avoid risk materialization
• Assist in the coordination of periodic Business Continuity Management Testing and documentation of appropriate reports on success levels.
• Assist in the development of risk management tools e.g. key risk indicators, risk & control self-assessment, risk dashboards, risk heat maps etc. as well as establishing risk registers at Bank level & departmental levels for sustainable focus on top risks of the Bank.
• Assist the Manager operation risk in reviewing business initiatives i.e. products and projects for the bank and recommend appropriate changes in controls and monitoring procedures.
• Assist in preparation of operational risk reports for submission to Management Risk Committee, EXCO and/or Board Risk Committee to facilitate active risk oversight.
• Ensure effective management of AML/CFT risks that have a bearing with operation risk

The Person:

The ideal candidate must possess the following:

Qualifications

• A bachelor’s degree in business, Economics, IT or other related fields.
• Professional banking qualifications such as CPA, CISA, CRMA, CISM, IRM or other risk related certifications will be added advantage.
• At least 5 years working experience in a bank operations environment
• 3 years’ experience in risk and compliance within a financial institution

Key Competencies and Attributes

• Excellent knowledge and experience of ICT and analytical skills is a must.
• Excellent communication, interpersonal, organizational, and negotiation skills.
• Ability to work independently, consult and clarify where necessary and make informed decisions
• An awareness of risk assessment techniques and knowledge of systems, processes and procedures adopted within risk management.
• Must have flexible approach to accept and champion change.
• Excellent understanding of the current trends in risk management especially in the Kenyan banking sector.
• Sound knowledge of the Bank’s policies and procedures
• Good understanding of operational risk management in line with Basel III and CBK Risk Management guidelines.