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 andResponsibilities

• 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.