Risk Officer at Centenary Bank

Job Purpose:

The Risk Officer is responsible for identifying, assessing, monitoring, and mitigating operational risks within the bank by analyzing business processes, identifying control weaknesses, and recommending improvements to ensure business continuity, compliance with regulations, and minimize potential losses arising from internal or external factors like system failures, fraud, legal issues, or human error.

Key Responsibilities:

1. Risk Management

• Conduct regular risk assessments across different business lines to identify potential operational risks within processes, systems, and activities.
• Analyze loss event data and key risk indicators (KRIs) to identify emerging risks and trends.
• Perform root cause analysis on operational incidents to understand the underlying issues and prevent recurrence.
• Aggregate and analyze operational risk data to prepare comprehensive risk reports for senior management and regulatory bodies.
• Communicate key risk insights and mitigation strategies to relevant stakeholders.

2. Control Evaluation and Monitoring

• Review existing controls and procedures to assess their effectiveness in mitigating operational risks.
• Develop and implement new controls where necessary to address identified gaps.
• Monitor control effectiveness through regular testing and reviews, including self-assessments by business units.

3. Policy Development and Governance

• Assist in developing and maintaining operational risk management policies and frameworks aligned with regulatory requirements.
• Ensure adherence to operational risk policies and procedures across the bank.

4. Business Partnering and Collaboration

• Train staff at all levels on core and ongoing risk management issues (e.g., anti-fraud practices, business impact analysis and business continuity and the importance of customer / supplier due diligence).
• Work closely with business line managers to embed risk management practices into daily operations.
• Provide guidance and support to business units on risk identification, assessment, and mitigation strategies.
• Collaborate with other functions like compliance, routine control, and internal audit to ensure a holistic view of risk exposures and embed a strong risk management culture across the Bank

Qualifications/Experience:

• A minimum Bachelor’s Degree in Economics, Finance, Accountancy or Business Administration.
• A minimum of 3 years practical work experience in the Financial Services Industry, preferably Banking.
• Strong understanding of banking operations, processes, internal controls and regulatory requirements related to operational risk.
• Expertise in risk assessment methodologies, including scenario analysis and key risk indicator development.
• Excellent analytical, attention to details and problem-solving skills to identify root causes of operational risks.
• Effective communication and presentation skills to convey complex risk information to different stakeholders.
• Ability to build strong relationships with business partners and influence decision-making.

Method Of Application

Applications with Curriculum Vitae (both cover letter and CV should be saved in one PDF file) should be emailed to: [email protected]

Please indicate on the email subject line the position you are applying for.

The closing date for the receipt of applications is Wednesday, 18th December, 2024.

Only shortlisted applicants will be acknowledged.