FAB Operational Risk Head

About the Role

First Abu Dhabi Bank (FAB) is seeking an Operational Risk Head to join its team in Riyadh, Saudi Arabia. This is a full-time position requiring over 10 years of experience. The role involves assisting the KSA CRO and Risk Management Department (KSA RMD) in providing day-to-day risk oversight for all Operational Risk activities within the branch and the agreed area within FAB Capital under the outsourcing agreement. This includes ensuring the maturity of a strong risk culture and governance framework.

Key Responsibilities

• Provide robust independent oversight and risk monitoring by developing strategic reporting solutions across the FAB KSA branch.
• Oversee the KSA Operational Risk management strategy, framework, and control system to ensure the FAB Franchise in KSA operates within an agreed risk appetite and complies with internal policy and external regulatory obligations.
• Assist in developing and implementing integrated operational risk framework and control systems for FAB Capital to ensure compliance with internal policy and external regulatory obligations.
• Collaborate with local and Group Risk Management units to establish and monitor Group methodologies, policies, procedures, and limit frameworks.
• Build, produce, and regularly update the risk-reporting suite for FAB Branch & Capital to ensure consistency and compliance with the bank’s risk tolerance.

Accountabilities

• Governance: Primarily manage the comprehensive risk-reporting framework for the FAB Risk Committee, covering the risk profile of FAB Capital in KSA.
• Strategy Development and Implementation: Maintain, execute, and continuously improve FAB Branch & Capital’s Operational Risk frameworks, limits, and tolerances to assess and mitigate risk exposures, ensuring alignment with the group’s risk and business strategy.
• Change Management: Participate in managing change through continuous improvement of functional systems, processes, and practices, considering global standards and changes in the business environment.
• Relationship Management: Maintain effective business relationships with all relevant external/internal entities, adhering to high standards of business ethics and addressing critical issues promptly.
• Reporting: Ensure timely and accurate preparation of all risk-related functional reports, meeting local and Group requirements, policies, and quality standards.

Operational Risk Context

• Documents Review: Review and approve local business policies and standard operating procedures, ensuring their validity and reporting status to the Risk Committee.
• OR Framework Design - KRI - RCSA:
  • KRI: Facilitate KRI set-up for FAB branch & Capital (threshold, definition) and monitor KRI data for breaches.
  • RCSA: Run risk assessment procedures and monitor/review corrective actions across FAB Branch & Capital.
• Loss Management: Review loss and incident data (actuals, near miss, potential events), monitor and review corrective actions, and analyze root causes across FAB Branch & Capital.
• Regulatory Report: Prepare reports for submission to local regulators as required.
• ORAP: Facilitate the Business Unit in completing the ORAP risk assessment document and create action plans for identified control weaknesses.
• Outsourcing Oversight: Ensure thorough operational risk assessment during business planning, monitor outsourced operations for robust control environments, update stress scenarios and contingency plans, and annually review/update FAB Branch & Capital’s activities within the outsourcing model.
• Training and Awareness: Uplift awareness of Operational Risk practices and requirements for all FAB Branch & Capital employees.

Qualifications and Experience

• A minimum of 10 years of relevant experience in operational risk management.
• Demonstrated ability to develop and implement risk frameworks and control systems.
• Strong understanding of regulatory obligations and internal policy compliance within the financial sector.

Work Environment

This full-time role is based in Riyadh, Saudi Arabia, and involves working closely with local and Group Risk Management units to ensure consistent application of risk methodologies and policies across FAB KSA branch and FAB Capital.