First Abu Dhabi Bank (FAB)
AVP, Operational and Fraud Risk
First Abu Dhabi Bank (FAB), Washington, District of Columbia, us, 20022
Overview
JOB TITLE:
HR Manager || People and Culture Manager || HRBP || DEI || MBA, SHRM-CP
JOB PURPOSE:
The selected candidate will assist the FAB USA Country CRO to sustain operational risk and fraud risk process and harness a strong Risk governance framework covering FAB Franchise in International Location.
The candidate is responsible for the development, implementation, management and assurance of the group-wide Operational Risk, Fraud Risk and BCM governance in order to facilitate secure and effective banking operations while mitigating risks and ensuring compliance. This entails risk control assessments for all departments including the risk department.
In doing this, he/she will work closely with the Group Risk Management units to ensure the Group methodologies, policies, and procedures are established in International Location. Additionally, the potential candidate will build, produce and regularly update the risk report suite to ensure consistency and compliance with the bank's risk tolerance.
Key Accountabilities
Governance
In conjunction with, and as required by the Country Chief Risk Officer, manage the Operational Risk, BCM and Fraud Risk frameworks for Country and Group Risk & Compliance Committee.
Provide regular reports to Country CRO on location's risk profile with mitigation plans. Assist the Country CRO & Committees in the taking appropriate decisions to manage the risk profile within the set appetite.
Strategy Development and Implementation
Assist the Country Chief Risk Officer in formulation, implementation and delivery of the FAB Franchise in International Location's risk strategy in line with the vision, mission, values and priorities.
Maintain, execute and continuously improve FAB Franchise in International Location's risk management strategy, frameworks and tolerances to assess and mitigate the risk and to ensure the region operates within its predefined risk appetite, aligned to the group's risk & business strategy.
Operational Risk
Oversee the FAB Franchise in International Location's Operational Risk Management, reporting operational risk profile, ratifying and recommending relevant Operational Risk management actions and mitigation strategy.
Roll-out the bank's policy re Operational Risk Management in FAB Franchise in International Location; Review/approve local business policies and standard operating procedures.
Facilitate the KRI & RCSA set-up for FAB Franchise in International Location incl. threshold definition; monitor KRIs that are in high-risk categories.
Review loss and incident data incl. actuals, near miss or potential events across FAB Franchise in International Location.
Monitor KRI data specific to FAB Franchise in International Location re breaches against acceptable thresholds; review the corrective actions taken in regard to breaches.
Run the risk assessment procedures across FAB Franchise in International Location and monitor / review corrective actions for loss incidents. Review root cause analysis and corrective actions; monitor status of corrective actions.
Prepare the reports for submission to local regulators and calculate / monitor capital adequacy with regards to OR capital requirements.
Monitor the periodical review of the products and processes and provide risk mitigation controls while ensuring the accurate identification of risk exposure in new products and services to ensure that risk implications are appropriately considered and mitigated.
Assist in development and effective implementation of risk policies (Operational Risk and Fraud Risk procedures and controls covering all areas of assigned FAB Franchise in International Location so that all relevant procedural/legislative requirements fulfilled while delivering a quality, cost-effective service.
Contribute in development of a risk culture within the assigned FAB Franchise in International Location to drive heightened awareness and understanding of prudent risk management practices; work with other risk teams on technical aspects so that key stakeholders are equipped with the necessary knowledge and capability to take risk-based decisions on behalf of the Group.
Stay in regular contact with Group Risk Heads to ensure that the policies, procedures, models, processes, mitigation factors and plans are in alignment with the group risk mitigation and monitoring strategies.
Assist Country CRO in implementation of risk management systems, policies, procedures and reports for Operational Risk and Fraud Risk in partnership with Group Risk heads.
Assist in the development, implementation and maintenance of risk self-assessment plans, include programs, systems and standards relating to operational risk in order to mitigate risk.
Update and manage the risk control self-assessment process and managing overall project.
Being 2nd line of defence for Operational and Fraud Risk.
Working closely with all stakeholders in the RCSA process including senior management locally as well as in Head Office.
Develop a comprehensive Risk Review mechanism for operational risk and Fraud Risk policies & procedures to assure consistency, comprehensiveness, and adequacy to enable an effective operational risk management process, and the same are adjusted as appropriate to reflect changes in the risk profile.
Manage Fraud Risk Management Framework as per policy and procedures and regulatory guidelines by the OCC.
Working closely with FAB USA Compliance team in identifying, analysing and reporting of fraud risk in a timely manner.
Liaison with HO Group Fraud Risk Team on all fraud incidents.
Educate the FAB USA on Fraud matters, tabletop exercises and general fraud awareness.
Present Fraud Risk status at monthly risk committee.
Work closely with Information Security Officer ensuring no overlap and gaps.
Stay informed about fraud risk best practice and industry changes with a forward-looking risk-based approach.
Change Management
Participate in management of change through continuous improvement of functional systems, processes and practices considering global standards and changes in the business environment which demand proactive action plans.
Relationship Management
Maintain effective business relationships with all relevant external/internal entities (such as government authorities, other financial institutions, key stakeholders etc.) and all sections with the highest standards of business ethics, whilst promptly attending to all critical issues in-order to ensure the services required by the organisation are delivered in the most effective manner.
Reporting
Ensure that all functional reports are prepared timely and accurately and meet location & Group requirements, policies and quality standards.
Qualifications
Bachelor’s degree in finance or related discipline.
Master’s degree in business administration, or a related discipline is preferred.
Professional Certification in CFA, FRM, or a related discipline is preferred.
15 years’ relevant experience in the banking sector with at least 5 years in similar positions of progressively increasing managerial responsibilities in the Enterprise risk management function.
Seniority level Mid-Senior level
Employment type Full-time
Job function Finance, Business Development, and Strategy/Planning
Industry: Banking and Financial Services
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HR Manager || People and Culture Manager || HRBP || DEI || MBA, SHRM-CP
JOB PURPOSE:
The selected candidate will assist the FAB USA Country CRO to sustain operational risk and fraud risk process and harness a strong Risk governance framework covering FAB Franchise in International Location.
The candidate is responsible for the development, implementation, management and assurance of the group-wide Operational Risk, Fraud Risk and BCM governance in order to facilitate secure and effective banking operations while mitigating risks and ensuring compliance. This entails risk control assessments for all departments including the risk department.
In doing this, he/she will work closely with the Group Risk Management units to ensure the Group methodologies, policies, and procedures are established in International Location. Additionally, the potential candidate will build, produce and regularly update the risk report suite to ensure consistency and compliance with the bank's risk tolerance.
Key Accountabilities
Governance
In conjunction with, and as required by the Country Chief Risk Officer, manage the Operational Risk, BCM and Fraud Risk frameworks for Country and Group Risk & Compliance Committee.
Provide regular reports to Country CRO on location's risk profile with mitigation plans. Assist the Country CRO & Committees in the taking appropriate decisions to manage the risk profile within the set appetite.
Strategy Development and Implementation
Assist the Country Chief Risk Officer in formulation, implementation and delivery of the FAB Franchise in International Location's risk strategy in line with the vision, mission, values and priorities.
Maintain, execute and continuously improve FAB Franchise in International Location's risk management strategy, frameworks and tolerances to assess and mitigate the risk and to ensure the region operates within its predefined risk appetite, aligned to the group's risk & business strategy.
Operational Risk
Oversee the FAB Franchise in International Location's Operational Risk Management, reporting operational risk profile, ratifying and recommending relevant Operational Risk management actions and mitigation strategy.
Roll-out the bank's policy re Operational Risk Management in FAB Franchise in International Location; Review/approve local business policies and standard operating procedures.
Facilitate the KRI & RCSA set-up for FAB Franchise in International Location incl. threshold definition; monitor KRIs that are in high-risk categories.
Review loss and incident data incl. actuals, near miss or potential events across FAB Franchise in International Location.
Monitor KRI data specific to FAB Franchise in International Location re breaches against acceptable thresholds; review the corrective actions taken in regard to breaches.
Run the risk assessment procedures across FAB Franchise in International Location and monitor / review corrective actions for loss incidents. Review root cause analysis and corrective actions; monitor status of corrective actions.
Prepare the reports for submission to local regulators and calculate / monitor capital adequacy with regards to OR capital requirements.
Monitor the periodical review of the products and processes and provide risk mitigation controls while ensuring the accurate identification of risk exposure in new products and services to ensure that risk implications are appropriately considered and mitigated.
Assist in development and effective implementation of risk policies (Operational Risk and Fraud Risk procedures and controls covering all areas of assigned FAB Franchise in International Location so that all relevant procedural/legislative requirements fulfilled while delivering a quality, cost-effective service.
Contribute in development of a risk culture within the assigned FAB Franchise in International Location to drive heightened awareness and understanding of prudent risk management practices; work with other risk teams on technical aspects so that key stakeholders are equipped with the necessary knowledge and capability to take risk-based decisions on behalf of the Group.
Stay in regular contact with Group Risk Heads to ensure that the policies, procedures, models, processes, mitigation factors and plans are in alignment with the group risk mitigation and monitoring strategies.
Assist Country CRO in implementation of risk management systems, policies, procedures and reports for Operational Risk and Fraud Risk in partnership with Group Risk heads.
Assist in the development, implementation and maintenance of risk self-assessment plans, include programs, systems and standards relating to operational risk in order to mitigate risk.
Update and manage the risk control self-assessment process and managing overall project.
Being 2nd line of defence for Operational and Fraud Risk.
Working closely with all stakeholders in the RCSA process including senior management locally as well as in Head Office.
Develop a comprehensive Risk Review mechanism for operational risk and Fraud Risk policies & procedures to assure consistency, comprehensiveness, and adequacy to enable an effective operational risk management process, and the same are adjusted as appropriate to reflect changes in the risk profile.
Manage Fraud Risk Management Framework as per policy and procedures and regulatory guidelines by the OCC.
Working closely with FAB USA Compliance team in identifying, analysing and reporting of fraud risk in a timely manner.
Liaison with HO Group Fraud Risk Team on all fraud incidents.
Educate the FAB USA on Fraud matters, tabletop exercises and general fraud awareness.
Present Fraud Risk status at monthly risk committee.
Work closely with Information Security Officer ensuring no overlap and gaps.
Stay informed about fraud risk best practice and industry changes with a forward-looking risk-based approach.
Change Management
Participate in management of change through continuous improvement of functional systems, processes and practices considering global standards and changes in the business environment which demand proactive action plans.
Relationship Management
Maintain effective business relationships with all relevant external/internal entities (such as government authorities, other financial institutions, key stakeholders etc.) and all sections with the highest standards of business ethics, whilst promptly attending to all critical issues in-order to ensure the services required by the organisation are delivered in the most effective manner.
Reporting
Ensure that all functional reports are prepared timely and accurately and meet location & Group requirements, policies and quality standards.
Qualifications
Bachelor’s degree in finance or related discipline.
Master’s degree in business administration, or a related discipline is preferred.
Professional Certification in CFA, FRM, or a related discipline is preferred.
15 years’ relevant experience in the banking sector with at least 5 years in similar positions of progressively increasing managerial responsibilities in the Enterprise risk management function.
Seniority level Mid-Senior level
Employment type Full-time
Job function Finance, Business Development, and Strategy/Planning
Industry: Banking and Financial Services
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