Operational Risk Consultant

Location

Contract Length

Role Summary

Risk Control Self-Assessment (Rcsa) & Control Testing

• Prepare, facilitate, and continuously update RCSAs across all bank functions.
• Conduct comprehensive process gap analyses and routine control testing.
• Manage year-end RCSA activities, ensuring all action plans are documented and updated.

Operational Risk & Incident Management

• Review, log, and investigate operational risk incidents and losses.
• Update Operational Risk Reports with deep-dive details, including root cause analysis, SOP deviations, resolutions, and responsible departments.
• Reconcile operational loss numbers with the Financial Control Department (FCD).
• Update RCSAs, KRIs, and action plans based on incident reports and realized losses.

Governance, Reporting & Committees

• Carry out the duties of Secretary to the Management Risk Committee, including drafting minutes and managing meeting logistics.
• Prepare and finalize committee reports and management packs in accordance with strict cut-off dates.
• Update Operational Variance reports incorporating both operational risk and audit data.

Policies, Procedures & Regulatory Compliance

• Draft, review, and update unit-specific policies and procedures.
• Review standard operating procedures (SOPs) across all bank functions.
• Review and assess all Outsourced Contracts to ensure strict alignment with Central Bank of the UAE (CB UAE) regulations.

Audit & Systems Implementation

• Act as a liaison for audit/examination matters; provide required information, track progress, and ensure the prompt closure of audit observations.
• Engage in operational risk system implementations, automation projects, and related testing (UAT).

Qualifications & Requirements

• **Experience:**
• 5 to 8 years of core Operational Risk Management (ORM) experience.
• **Industry:**
• Mandatory previous experience within the banking sector (experience in an international bank is highly preferred).
• **Technical Skills:**
• Deep expertise in executing RCSAs, KRIs, Control Testing, and Incident Management.
• **Regulatory Knowledge:**
• Familiarity with CBUAE regulations, particularly regarding outsourcing and vendor risk management.
• **Soft Skills:**
• Strong analytical abilities, meticulous attention to detail, and excellent written communication skills for drafting policies and committee minutes.