United Bank for Africa Plc (UBA) is one of Africa's leading financial institutions, with operations in 19 African countries and 3 global financial centres: London, Paris and New York. From a single country organisation founded in 1949 in Nigeria, UBA has grown to become a Pan-African provider of financial services with over 11 million customers, through close to 1000 business offices and touch points globally.
Head, Operational Risk Management
Reference #: LAG0006
Location: Lagos Island, Lagos
Contract Type: Permanent
Job Functions: Management
Industries: Banking / Finance & Investment
This jobs exists for:
- Keeping senior management informed on an ongoing basis of the quality of operational risks, deficiencies, issues and the status of corrective actions relating to risk mitigation proffered
- Providing Management with MIS on the Bank’s risk profile to enable informed decision making
- Identifying, quantifying and documenting Operational Risks in new and existing products with a focus of reducing inherent Operational Losses and in compliance with the Requirements of the Basel II Accord and Regulatory Authorities for the calculation of Operational Risk Capital Charge - by Best Practice Banks
- Coordinating and maintaining accurate and robust loss databases in the Bank in compliance with the Requirements of Basel II Accord and meet Regulatory standards for Operational Risk Capital Calculation by Financial Institutions
- Developing for implementation appropriate policies, procedures, systems and controls that will drive the reduction of losses and loss events in the Bank thereby increase the profits
- Coordinating the implementation of Continuity of Business in UBA Group
Governance / Compliance:
- Minimize financial losses due to penalties for regulatory breaches and infractions.
- Composite Risk Management Rating for each country regulator.
- Number of years of complete and accurate operational loss data maintained in the Corporate Loss Database (AMA method)
- Risk assessment and treatment procedure result based on BCMS ISO 22301-2012 requirements
- Implementation of RCSA/KRIs. Ensure development/update and deployment of RCSA/KRIs Templates as planned
- Audit Rating. Internal Audit Rating.
Losses & Loss Events:
- Facilitate timely and accurate population of loss database by business function.
- Proper classification of losses and loss events as per Basel II Accord specifications
- Analysis and maintenance of Business Environment & Internal Control Functions (BEICF) database from such sources as Audit exceptions, System Downtime report, Disciplinary Committee
- Monitoring and Reporting on emerging risks and high risk exposures from the losses and loss events, Investigation /Audit/Legal/Customer Service/Disciplinary Committee reports
- Identify emerging/key risks from loss database based on frequency, impact and control environment and proffering controls/mitigants to be put in place to forestall recurrence of Operational Losses in the Bank
- Measurement of Customer Satisfaction Index
Operational Risk Management Awareness:
- Review of business environment and internal control factors
- Identification of trends & Emerging issues from Audit Reports.
Business Environment & Internal Control Factors:
- Review of business function internal control and internal audit reports
- Analysis of issues to identify emerging trend
BVN enquiry/resolution management:
- Provide support for customers enquires on multiple BVN enrolment
- Maintenance of BVN exception database
- Maintenance of BVN watch-listed/blacklisted database
Staff Skill enhancement/Management:
- Ensure regular dissemination of awareness on process failures
- Control voluntary Attrition rate.
- First degree in any field
- Master's Degree or a professional qualification will be an advantage
- In depth knowledge of operational risk requirements pertaining to risk mitigation
- Minimum of 9 - 11 years banking experience and business continuity; minimum of 11 - 13 non-banking but related experience.
- Knowledge of banking operations
- Deep knowledge of the bank’s products, services and processes
- Familiarity with the current regulatory environment on BCP for financial services industry
- Deep knowledge of Basel II Accord.
N10,000.00 - 1,000,000.00 Annually.
Method of Application
Interested and qualified? Go to United Bank for Africa (UBA) career website on uba.jb.skillsmapafrica.com to apply