Skip to main content

Operation Risk Analyst

Experience: 12-15
Posted: 08 Feb,2022
Location: Bahrain
Operation Risk Analyst

Work Location is Manama, Bahrain.


OBJECTIVE AND SCOPE OF WORK 


OBJECTIVE 
  • Bank has embarked on a journey to digitize their Wholesale Banking business line. The project will follow an agile methodology and will be done in phases, eventually including multiple products of Wholesale Banking.
  • The objective of this RFP is to perform an operational & Fraud risk assessment on the processes, system and products related to digital wholesale before their go live and to ensure that material risks are mitigated and/or accepted by relevant authorities.

 

SCOPE OF WORK 

The scope of work will include engaging in all the activities related to Operational Risk for Wholesale Banking Digital initiative. The resource among other things will be expected to:

1.      Act as the Operational & Fraud Risk Manager as defined in CBB ORM guidelines

2.      Define policies, procedures and system for the identification, measurement, monitoring, mitigating and controlling of the operational risks inherent in WBG Digital offering: products, services, activities, processes and systems.

3.      Perform Operational and Fraud Risk assessment for Wholesale Banking Digital platform thus ensuring the Bank is in full compliance with all banking laws, rules, regulations, and internal policies, procedures, and processes. This will include as appropriate, the following:

  1. Inherent and residual risks;
  2. Changes to the bank's operational risk profile and appetite and tolerance;
  3. The necessary controls, risk management processes and risk mitigation strategies;
  4. Changes to relevant risk thresholds or limits; and
  5. The procedures and metrics to measure, monitor, and manage the risk.
  6. Develop Risk Management controls and contingency plans

4.      Develop Risk Management controls and contingency plans

5.      Assist WBG in the preparation and documentation of their Risk and Control Assessments (RCAs) across their products and processes within the Bank.

6.      Perform Fraud Risk Assessment of the new Digital platform(s)

7.      Liaise with all internal stakeholders to review / approve developed risk mitigation plans and any associated risk deviations

8.      Influence and monitor progress of action plans to define and improve the risk and control environment arising from internal and external risk events, risk issues, RCAs, risk monitoring and other best practices

9.      Give quality advice, guidance, and training to the business lines so that the business owners can manage its risks and meet its regulatory obligations.

10.  Define relevant KRIs and KPIs for the WBG products and processes, and systems

 

RESOURCING 

Resource must be:

  • Competent and appropriately trained in all areas of Operational risk management
  • Company should have worked for similar sized banks with international presence.
  • Team should constitute people with operational risk experience with deep knowledge of Wholesale Banking products and business lines (10+ years in WBG products and 20+ years in Banking industry)
  • Team member should have experience of working with Wholesale Banking and Operational Risk department of Banks and financial institutes in GCC and OECD markets • Define Risk and Control of the Product, processes, system of the Whole sale Banking department impacted by the Digitization
  • Detailed action plan for implementing missing/inadequate Controls
  • Agreed KRIs and KPIs for the assessed processes/products
  • Review of the processes and products under the scope of this project from Operational & Fraud Risk Point of view.

              

Please provide detailed profile of the assigned resource for this exercise

 

DELIVERABLES 

Deliverable for this exercise will include:

  • Define Risk and Control of the Product, processes, system of the Whole sale Banking department impacted by the Digitization
  • Detailed action plan for implementing missing/inadequate Controls
  • Agreed KRIs and KPIs for the assessed processes/products
  • Review of the processes and products under the scope of this project from Operational & Fraud Risk Point of view.

        

Required Skills

Skill
Years
Months
Risk Assessment
12
0
Banking Operation
12
0
Operational risk management
10
0
Wholesale Banking
10
0
Fraud Risk
10
0
implementing missing/inadequate Controls
10
0
WBG
10
0
Risk and Control Assessments (RCAs)
10
0
Operational risk analysis
10
0