Head of Operational and Fraud Risk Management - Abu Dhabi, United Arab Emirates - Abu Dhabi Islamic Bank

Abu Dhabi Islamic Bank
Abu Dhabi Islamic Bank
Verified Company
Abu Dhabi, United Arab Emirates

3 weeks ago

Ahmed Al-Mansouri

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Ahmed Al-Mansouri

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Description
Head of Operational and Fraud Risk Management


Role :
Head of Operational & Fraud Risk Management**
Location: Abu Dhabi


Role Purpose:

This is a Senior Management role within Group Risk Management responsible for (a) developing a center of excellence on Operational Risk and Fraud Risk Management and (b) recommending changes to business processes in order to enhance operational efficiency and effectiveness


The role requires a proactive individual with a minimum of 15 years of experience in ORM & FRM, who can communicate and build strong relationships across Business Units (BU), possess the ability to work in a matrix organization and leverage resources and capabilities across BUs.

The holder of this position will be mainly asked to:

  • Design, implement and maintain a sound Operational and Fraud Risk Management Framework in line with the ever-changing regulatory landscape.
  • Build the foundation for sound Operational and Fraud Risk management and identification of material risk through ongoing collaboration with local Lines of Business.
  • Maintain Operational and Fraud Risk within the Board's approved risk appetite and ease the decisionmaking in light of the underlying operational risks.
  • Lead and participate in fraud investigations and examinations based on management request and/or as per the identified fraud risk indicators.
  • Plan and execute fraud investigations in line with Fraud Investigation Policy & Procedures.
  • Guide leadership within ADIB Group through providing expertise and advice to Senior Management which enhances their ability to anticipate and manage operational risks efficiently and effectively.
  • Oversee the adequacy and strength of the internal control System and recommend management actions to ensure the operational risk profile supports the achievement of business objectives.
  • Act as a trusted adviser to Senior Management on Operational Risk Management aspects.
  • Manage the operational incidents on a timely manner and ensure exhaustive root cause analysis are completed for major or frequent events.
  • Track performance around risk management programs to build and ensure effective operationalizing of requirements.

Key Accountabilities of the role
This role includes but is not limited to the following:

Strategy, Policy, Framework and Governance

  • Design and implement a sound Operational Risk Management Framework and Fraud Risk Management Framework for ADIB Group across all channels and products.
  • Set in place the required infrastructure, tools, policies, standards, and processes necessary for effective execution of the above frameworks.
  • Design and maintain the Enterprise Risk Management System (GRC) intended to manage ORM, FRM, Information Security, IT Governance, Compliance and Regulation.
  • Set, support and run Committees under ORM's responsibility such as the Control and Compliance Committee (3C), Control and Compliance Committee Working Group (3CWG), Operational Risk Provisioning Committee (ORPC), Fraud Risk Management Committee (FRMC) and Business Risk & Control Committee (BRCC).
  • Represent Risk Management in Information Security Committee (ISC), Information Transformation Steering Committee (IT-SC), BRCC of all ADIB Group Subsidiaries.
  • Escalate ADIB's risk profile on a quarterly basis to the Board Committee and Governance & Risk Policy Committee (GRPC).
  • Ensure that the above Frameworks and policies satisfy the existing regulatory requirements and best standards.
  • Develop Governance structure for appropriate management and oversight of operational and fraud risk.
  • Develop and maintain Operational Risk Management capabilities, skills and infrastructure that are in compliance with both internal policies and external regulations and are responsive to fraud attacks.

Process Management
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Risk and Control Self-Assessment

  • Design and implement the RCSA policy in order to proactively identify and address operational risks and issues.
  • Support the BUs in implementing a sound RCSA process.
  • Run crossfunctional RCSA workshops for critical processes, Scenarios and/or BUs.
  • Perform regular independent rootcause analysis by BU, process and/or product on a risk based approach (New trend, Critical risks...)
  • Ensure exhaustiveness and reliability of RCSAs in collaboration with other risk functions such as IS, Compliance, Sharia Departments.
  • Ensure Operational Risks are identified, assessed, mitigated and monitored across all processes, projects and outsourced activities.

2. Fraud Risk Self-Assessment (FRSA)

  • Set a Fraud Risk Strategy that supports standardization, automation and consolidation through reengineering and process improvement across ADIB Group for Fraud Risk Management.
  • Define the process for FRSA and ensure it is properly implemented.
  • Support the implementation of the Fraud Risk Management Framework and monitor the fraud risk metrics to identify potential control weaknesses.
  • In collaboration with all BUs, ensure that all
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