Head Operational Risk at Unified Payment Services Limited

Job Objectives

• To lead and oversee the identification, assessment, management, and mitigation of operational risks across the organization.
• The role is responsible for developing and maintaining the operational risk management framework, ensuring that operational risks are effectively managed to safeguard the organization’s assets, reputation, and operations.

Duities and Responsibilities

• Develop and implement the operational risk management framework and strategy, ensuring that operational risks are effectively identified, assessed, and managed.
• Lead the identification and assessment of operational risks across all business units and processes.
• Oversee the development and execution of operational risk assessments, ensuring comprehensive identification of potential risks across the organization.
• Continuously monitor key operational risks, key risk indicators (KRIs), and risk trends, identifying emerging risks and areas of concern.

Key Performance Indicators
Operational Risk Management:

• Work closely with senior management to develop and implement risk mitigation strategies and ensure that operational risks are aligned with the organization’s risk appetite
• Monitor and report on operational risk exposure, ensuring that risk limits and mitigation strategies are in place and adhered to.
• Ensure that operational risks are considered in all key business decisions and that appropriate risk assessments are performed for new products, systems, and processes.

Risk Assessment & Monitoring:

• Lead risk assessment exercises and ensure the integration of operational risk assessments into business planning and decision-making processes.
• Provide guidance and oversight on business continuity, disaster recovery plans, and other operational risk-related strategies.

Compliance & Regulatory Requirements: 

• Ensure that operational risk management practices comply with local regulations, industry standards, and internal policies. 
• Monitor changes in regulatory requirements related to operational risk and ensure that the organization adapts its risk management practices accordingly.
• Ensure that operational risk frameworks are aligned with industry best practices and regulatory expectations, contributing to the organization’s compliance and audit readiness.

Requirements

• Education: University Degree in Risk Management, Finance, Business Administration, Accounting, or a related field.
• Experience: Minimum of 10 years’ experience in operational risk management, preferably in the financial services, banking, or payments industry. 
• Professional Certifications: Certified Risk Manager (CRM) or Financial Risk Manager (FRM) is preferred.
• Operational Risk Management or related certifications would be an advantage.
• ISO 31000 Risk Management certification is also a plus. 
• Others: Strong experience in Fraud Investigations
• Proven track record of leading risk management initiatives and implementing risk management frameworks within an organization. 
• Experience in dealing with operational risks related to technology, processes, systems, and third-party vendors.

Key Competency Requirements:

• Knowledge: Knowledge of Microsoft office packages, data tools or statistical packages 
• Ability to communicate effectively in speech and writing.
• Skill/Competencies: Strong understanding of operational risk management frameworks, risk assessment methodologies, and incident management.
• Proven ability to analyze complex operational risks and develop strategies to mitigate them.
• Leadership skills with the ability to manage and influence teams across the organization. 
• Excellent communication and presentation skills, with the ability to engage senior management and stakeholders. 
• Strong problem-solving skills and the ability to implement effective remediation plans.