SENIOR RISK ANALYST (1)
Job Scope
Responsible for assisting in Operational Risk activities of the bank, with special focus on Shariah non-compliance risk, identifying control lapses, and conducting root cause analysis for incidents reported to Operational Risk.
Role will also be responsible for assisting in managing various operational risk activities, including process reviews, RCSA’s, maintenance of KRIs, risk assessments for new changes, and ensuring that new products and services align with Shari'ah principles.
KEY RESPONSIBILITIES
Partake in establishment and implementation of the Operations Risk Management framework.
Oversee and manage Operational Incidents, ensuring all incidents are documented, investigated, and resolved effectively.
Identify and analyze control lapses that could lead to non-compliance with Shari’ah principles and guidelines.
Perform root cause analysis on Shari’ah risk incidents and recommend corrective actions to prevent recurrence.
Conduct risk assessments on existing processes, ensuring that they align with Shari’ah principles and are compliant with internal risk management frameworks.
Work closely with other teams to evaluate the operational risks associated with new process changes and business activities.
Assess and review new products and services to ensure that they meet Shari’ah compliance standards before launch.
Provide recommendations for mitigating Shari’ah related risks associated with new business initiatives.
Review an update internal policies and procedures related to Shari’ah risk management to ensure they are in line with the latest regulations and Shari’ah standards.
Work with the Shari’ah Committee to ensure tat operational practices comply with Shari’ah requirements, regulatory mandates and international best practices.
Conduct investigations on assigned incidents, focusing on identifying the root causes of Shar’iah risk violations.
Prepare detailed reports for senior management, outlining findings, corrective actions, and mitigation strategies for Shari’ah-related incidents
Collaborate with cross-functional teams, including Compliance, Legal and Shariah Review to enhance Shariah risk awareness and ensure that Shariah compliance is maintained across the organization.
Provide regular updates to senior leadership of Shariah risk assessment and the status of ongoing investigations.
Partake in implementation and maintenance of a risk control self-assessment system.
Proactively identifying operational risks and shariah non-compliance risks and facilitate the Risk & Control Self-Assessment (RCSA) process.
Assist in Defining and maintenance of policies and SOPs for ERM framework components (risk register, RCSAs, issue management, incident management).
Risk monitoring through Key Risk Indicators (KRIs) and assessing the adequacy of controls to manage such risks.
Internal and external loss data collection and management, incident reporting mechanism, data transformation, analysis, aggregation, and reporting.
Business process mapping, business, and risk type segmentation.
Keep abreast with the latest risk management practices and/or standards and proactively adapt these practices and/or standards where appropriate.
REQUIREMENTS
Bachelor’s Degree in related field with minimum 03 years of work experience in banking & finance and/or Risk Management in banking and/or Islamic Banking & Finance OR,
Diploma in related field with minimum 06 year of work experience in banking & finance (priority given for Islamic banking & Finance) with minimum 3 years in Risk Management and/or operations in a bank.
Proficient in Microsoft Office Suite (Word, Excel, PowerPoint, Visio) will be an added advantage.
Knowledge of internal control or Risk Management Frameworks and Banking regulations will be an added advantage.
Professional written and verbal communication and interpersonal skills.
Ability to motivate teams to produce quality materials within tight timeframes and simultaneously manage several projects/multitasking.
Ability to participate in and facilitate group meetings.
Interpretation and application of regulations, policies, and procedures.
Strong analytical, problem solving and decision-making skills.
Documents required with application.
Curriculum Vitae (CV) / Resume,
Attested educational certificates,
National ID card copy,
Passport Size Photo
Police Report (validity less than 06 months)
Deadline:
Date: 06 February 2025
Time: 14:30
Inquiries
Should you have any inquiries please send us an email to [email protected].
Inquiries
Should you have any inquiries please send us an email to [email protected].
REMUNERATION
Competitive Salary
Performance-based bonus
Annual Increment
Health insurance for staff and direct dependents
Professional growth and development
Exclusive employee benefits on bank's products.
Please note that only shortlisted candidates will be contacted to attend interview.