Associate, Operational Risk Management at I&M Bank

Job purpose:

• The primary purpose of this role is to assist in implementing a comprehensive operational risk management framework. 
• The role holder will play a crucial part in identifying, measuring, mitigating, monitoring, and reporting risks across various business units within the bank.
• You will also perform independent reviews and control validation tests to assess controls' adequacy, ascertain compliance with the bank’s policies, procedures, and adherence to regulatory requirements, and highlight exceptions or violations.

Key Responsibilities:
Implement an Operational Risk Management Framework:

• Support the Implementation of an Operational Risk Management Framework that is consistent with the Group Enterprise Risk Management Framework (policies and procedures).
• Support the implementation of Operational Risk Management digital (Automation) and automation strategy.

Governance:
Policies and Procedures:

• Participate in the annual review of risk procedures in liaison with the Assistant, Manager Risk and Compliance, and Manager, Enterprise risk.
• Participate in the review of business procedures/processes to identify areas of potential improvement or weakness in risk management controls.
• Follow up on unit procedure reviews with unit risk champions.

Unit Operational Risk and Compliance Committee:

• Support and participate in the Unit Operational risk and Compliance committees for business units across the bank with the respective risk champions.
• Support the Operational Risk Department with the collation of all UORCCO meeting Packs across the departments for record-keeping purposes and follow up on open action plans.

Reporting:

• Support the preparation of reports for Management and the Board through the collation of data required for the same.

Risk & Control Self-Assessment Register (RCSA):

• Coordinating the implementation of the Risk & Control Self-Assessment (RCSA) framework across the various Business and Support units. 
• Participate In the embedment of all new and emerging operational and financial risks into units’ risk registers.
• Support in the Maintenance of the banks’ Risks and Controls Library by ensuring all new risks or controls across the bank are maintained in the risk library.
• Review & follow up on the unit’s quarterly Risk and control self-assessments to identify top risks, control gaps, issues raised, and track for closure.
• Identify thematic risks across units, escalate to respective stakeholders, recommend mitigating controls, and follow up to ensure closure.

Key Risk Indicators (KRI):

• Participate in the designing of the Bank’s Key Risk Indicators framework (KRIs).
• Responsible for the Maintenance of the bank KRI Library by ensuring all KRIs identified are maintained in the KRI library.
• Review Key Risk Indicators (KRI) reports from respective units and report any outside approved tolerance limits i.e. exceptions for follow-up and action planning.
• Participate and support the risk owners to define key risk metrics for operational risk within the Business and Support functions.

Incident Reporting and Loss Data Management:

• Support the Implementation of the incident management and loss data reporting framework.
• Follow up, track, and analyze risk incidences across the business units to ensure proper identification of root cause and follow up on the implementation of comprehensive action plans/measures to close loopholes by respective business units. 
• Monitor the Operational Loss Database to monitor operational losses and their respective root causes while Reconciling the Loss data report against the incident report to ensure completeness and comprehensive loss reporting.
• Participate in the validation of reported operational incidences and exceptions, perform root cause analysis, and recommend opportunities for improvement of the process/system.

Control Testing/Assessment:

• Participate in developing Control testing checklists in Business units as per control Testing procedure.
• Actively participate in carrying out independent Control testing at Business units, to ensure that policies and procedures are effectively implemented, discuss the test results with the business teams, and follow up on closures of the action plans.
• Follow up with business units to update risk registers accordingly after control testing findings to reflect the unit's control environment.
• Through the process, identify control gaps, debrief the business units, and agree on action plans to close the gaps.
• Assisting in following up for closure/management of Key Risk matters arising from the Control Testing exercise across the Bank.

Training and Awareness:

• Assisting in the preparation of Operational Risk training modules for the bank employees.
• Raise awareness and provide training for bank employees on Operational risk policies and procedures.
• Raise awareness by championing the same through newsletters, and direct email communication to the business risk champions.

Audit:

• Participate in the review of all Internal reports to extract relevant risk & control information for use in reporting and remediation.
• Follow up with units on the resolution of all associated Internal Audit recommendations post-audit issues.

New Product Development and Project Assessment:

• Assist and provide guidance role on Operational Risk matters in products, projects, or new developments.
• Participate in carrying out Risk assessments for project change initiatives and process reviews.

Academic Qualifications:

• Bachelor’s degree in a Business-related field from a recognized institution.
• Professional Qualifications / Membership to professional bodies/ Publication:
• CPA (K), CIA, CSIA, FRM, GARP, PRMIA, or CFA certification.

Work Experience Required:

• At least a year (1) of relevant experience in a similar sized organization.

Competencies:

• Planning & Organizational skills.
• Analytical skills and attention to detail.
• Strong oral and written communication skills.
• Interpersonal skills to manage stakeholders at all levels.
• Ethics and integrity.
• Excellent judgment and analytical abilities and impeccable integrity.
• Strong commercial awareness and an ability to connect to business goals.