Manager - Operational Risk Management at I&M Bank

PURPOSE:

The role holder will be responsible for:

• Implementing a comprehensive Operational Risk management framework by the use of appropriate processes, procedures, and tools, designed to embed risk management within the Bank that facilitates the balance of business growth.
• Partnering with Business Units to facilitate and support the implementation of the ERM strategy
• Performing independent reviews and control validation tests to ascertain compliance with the bank’s policies and procedures and assess the adequacy of controls and adherence to regulatory requirements and highlight exceptions or violations.

PRIMARY RESPONSIBILITIES:

Policies and Procedures

• Participate in the annual review of policies and procedures in liaison with the Manager, Enterprise risk
• Participate in the Review of business procedures/processes to identify areas of potential improvement or weakness in risk management controls.
• Facilitate the development of shared processes/ Procedures across the business to ensure compliance with policies and standards of operation (SOP).
• Review of procedure manuals across the different bank units and support in the maintenance of the bank’s procedure Manual catalog

Assist the head of  of Enterprise risk in entrenching and reinforcing of bank-wide ERM awareness culture

• Champion the Implementation of the Unit Risk and compliance committees within bank departments through coordination of the Unit Operational risk and Compliance committees for business units across the bank with the respective risk champions.
• Support the sustenance of the risk champions program.
• Support risk Champions in monitoring and risk reporting, to ensure that a comprehensive and continuous risk identification process is in place across the bank and subsidiaries.
• Tracking implementation of internal and external audits and regulatory reviews
• Facilitate classroom training and sharing of risk management best practices across the Bank.
• Participate in the development of Training materials for the different users within the bank i.e., E-Learning materials.
• Any other role assigned by the Enterprise Risk Manager.

Reporting:

• Participate in the development of risk reports for senior management meetings and Board meetings
• Review all Internal & External Audit reports to extract relevant risk & control information for use in reporting and remediation

Risk & Control Self-Assessment Register (RCSA)

• Coordinating the implementation of the Risk & Control Self-Assessment (RCSA) framework across the various Business and Support units.
• Support process owners and risk champions with the identification of key risks in their respective functions while also identifying Controls aimed at mitigating those risks. (Risk Control Self-Assessment).
• Ensure each business unit holds a risk register that covers all risk areas.
• Review and ensure that individual unit risk registers are up to date and reflect the current risk environment.
• Ensure Maintenance of the comprehensive bank Risks and Controls Libraries.

Key Risk Indicators (KRI)

• Participate in the design of the Bank’s Key Risk Indicators framework (KRIs)
• Ensure maintenance of the bank’s KRI Library.
• Review and analyze Key Risk Indicators (KRI) reported by respective units to ensure they are within approved tolerance limits and report any exceptions for follow-up and action planning.
• Support the risk owners to define key risk metrics for operational risk within the Business and Support functions.

Control Testing/ Assessment

• Assisting in developing Control testing checklists and conducting control tests in Business units as per control Testing procedure.
• Periodically carry out independent Control tests in the relevant units to ensure that policies and procedures are effectively implemented in the Functional/Business Units and update risk registers appropriately
• Follow up for closure/management of Key Risk matters arising from the Control Testing exercise across the Bank;

 Incident Reporting and Loss data management

• Coordination of loss data collection and reporting
• Loss Data analysis and recommendations on areas that require control improvement based on the Root Cause Analysis.
• Maintain and monitor an Operational Loss Database to monitor operational losses and their respective root causes.
• Reconciliation of the Loss data report against the incident report to ensure completeness and comprehensive loss reporting
• Participate in the review of fraud incidences (successful and attempted).

PERSON SPECIFICATIONS

Academic Qualifications

• Bachelor’s degree plus Professional qualification

Professional Qualifications

• Minimum of four (6) years’ experience in a Risk And Compliance function;
• Excellent communication and interpersonal skills.
• Ability to establish priorities, plan, coordinate, and monitor own work plan
• Strong negotiation skills; and
• Good understanding of relevant regulatory requirements, CBK Prudential, and Risk Management guidelines
• Good understanding of Banking internal policies and procedures as well as external regulations.
• High Level of Integrity