Zedvance Limited is a consumer finance company. We are committed to providing consumer credits to our target market in the most efficient and convenient manner while ensuring best practice. We provide Cash Loans to individual, groups and offer Point of sale finance for consumer goods and appliances in partnership with retailers across Lagos.
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The Operational Risk Specialist will be responsible for identifying, assessing, and mitigating operational risks within our lending business. This role is crucial in ensuring that all operational activities adhere to regulatory standards and company policies, thereby safeguarding the organization against potential risks.
Responsibilities
Conduct thorough risk assessments to identify potential operational risks in banking processes and systems.
Evaluate the effectiveness of current risk management practices and recommend improvements.
Develop and implement comprehensive risk management policies, procedures, and controls to minimize operational risks.
Ensure that all policies and procedures are up-to-date and comply with regulatory requirements.
Monitor Key Risk Indicators (KRIs) and prepare detailed risk reports for senior management and other stakeholders.
Track and report on risk mitigation activities and their effectiveness.
Investigate and analyze operational incidents, determine root causes, and recommend corrective actions to prevent recurrence.
Maintain a log of incidents and follow up on action items to ensure they are resolved in a timely manner.
Ensure compliance with relevant regulations and industry standards related to operational risk.
Keep abreast of changes in regulatory requirements and adjust risk management practices accordingly.
Conduct training sessions for staff on operational risk management and best practices.
Promote a risk-aware culture within the bank.
Work closely with other departments, such as Compliance, Audit, IT, and Legal, to ensure a cohesive approach to risk management.
Communicate effectively with all levels of the organization to promote understanding and management of operational risks.
Stay updated with industry trends and best practices in operational risk management.
Continuously improve risk management strategies and frameworks based on feedback and industry developments.
Requirements
Bachelor’s degree in Finance, Business Administration, Risk Management, or a related field.
Minimum of 3-5 years of experience in operational risk management, preferably within the lending or financial services industry.
Strong analytical and problem-solving skills
Excellent communication and interpersonal abilities.
Proficiency in risk management software and tools.
Attention to detail and accuracy.
Proficiency in Microsoft Office Suite (Excel, PowerBI, Powerpoint, Word etc.).
Relevant certifications such as Certified Risk Manager (CRM) or Certified Operational Risk Manager (CORM) are a plus.
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