The job holder needs to have a thorough understanding of the products and business processes in the wholesale banking and be familiar with operational risk management practices and regulatory requirements. He/She should be able to articulate these and have meaningful discussions with internal and external stakeholders at various levels. He / She should also never lose sight of the “big picture” of the markets ABC is in and the overall trends in the financial industry as a whole.
The Job holder will assist and facilitate the management of operational risk across wholesale Banking Group.
- Engaging with the first line on risk management (identification of risks and appropriate mitigation strategies) starting from a good understanding of the business processes & products
- (Facilitation) of the implementation of the group-wide framework for management of operational risk in Wholesale banking Group;
- Supporting the Operational risk management by the first line;
- Provide assistance to second line Risk Departments of Units;
- Overseeing the processes for identification and controlling of risks in existing and new activities and products
- Representing risk in efforts to launch new products, change processes, implement systems, etc.;
- Analysis of risk data and translating same in action plans;
- Reporting of risks and status of risk management;
- Raising awareness and promoting best practices for the management of operational risk in wholesale banking group
Scope of the Job
- Facilitate the management of operational risk across the wholesale banking group
- This includes (list is not exhaustive):
- Ensure Review of policies & procedures to ensure compliance with group standards and policies
- Ensure Review of new products from the operational risk perspective and challenge the controls identified
- Challenge the Process / System design from the operational risk perspective
- (Facilitation of the) implementation of the group-wide framework for the management of operational risk
- Organization and facilitation of risk management workshops (e.g. RCSA workshops, etc.)
- Coordination and facilitation of the implementation of the various risk management policies and procedures within Wholesale Banking Group.
- Assistance with the identification of risks and the definition of appropriate controls
- Challenging / testing the effectiveness of controls
- Analysis of risk data such as loss events and other incidents, KRIs, etc. and ensuring that they are translated into appropriate action
- Investigating risk events and incidents
- Following up on completion of action plans
- Provide day-to-day direction, guidance, training and support to the wholesale banking group for the management of operational risk.
- Ensure respect of Operational risk management policies and procedures and raising any exceptions
- Create/edit operational risk related data in the operational risk system (GRC tool)