Venture Search Hiring for Operational Risk Officer at Dubai Full Time

Job Description:

We are seeking a skilled and detail-oriented Operational Risk Officer to join our team. As an Operational Risk Officer, you will play a critical role in identifying, assessing, and mitigating operational risks within our organization. You will collaborate with various departments and stakeholders to develop and implement effective risk management strategies and ensure compliance with regulatory requirements.

Responsibilities:

1. Develop and maintain an effective operational risk management framework, policies, and procedures in alignment with industry best practices and regulatory guidelines.
2. Identify and assess operational risks across different business functions, processes, and systems. Conduct risk assessments and analyze risk indicators to evaluate the severity and potential impact of risks.
3. Implement risk mitigation strategies and controls to minimize the organization’s exposure to operational risks. Monitor the effectiveness of controls and escalate issues or areas of concern as appropriate.
4. Collaborate with business units to identify and implement process improvements, control enhancements, and risk mitigation measures to minimize operational risks.
5. Conduct operational risk training and awareness programs to educate employees on risk management principles, policies, and procedures.
6. Stay updated with industry trends, regulatory changes, and emerging risks to ensure that risk management practices are relevant and aligned with evolving risks.
7. Monitor key risk indicators (KRIs) and conduct regular risk reporting to senior management and relevant stakeholders, providing insights and recommendations to mitigate risks.
8. Perform root cause analysis and investigate incidents and operational losses to identify underlying risks, contributing factors, and recommend corrective actions.
9. Collaborate with internal and external stakeholders, such as auditors and regulators, to ensure compliance with operational risk management standards and regulatory requirements.
10. Participate in risk and control self-assessments (RCSAs) and coordinate the implementation of risk remediation plans.

Requirements:

1. Bachelor’s degree in Business, Finance, Risk Management, or a related field. Relevant professional certifications (e.g., Certified in Risk and Information Systems Control – CRISC, Operational Risk Management – ORM) are preferred.
2. Proven experience (3 – 5 years) in operational risk management, preferably within the financial services or banking industry.
3. Strong knowledge of operational risk management frameworks, methodologies, and tools.
4. Familiarity with relevant regulations and industry guidelines, such as Basel Committee’s Operational Risk Management principles.
5. Analytical mindset with the ability to identify, assess, and prioritize operational risks.
6. Excellent problem-solving skills with the ability to propose practical and effective risk mitigation strategies.
7. Strong communication and interpersonal skills to effectively engage with stakeholders at all levels.
8. Attention to detail and ability to work independently, while also collaborating effectively in a team environment.
9. Proficiency in risk management software and tools.
10. Ability to adapt to a fast-paced, dynamic environment and manage multiple priorities effectively.