Senior Associate – Operational Risk and Assurance

Job Description

<p><strong>(Please attach your updated CV with your application)</strong></p><p><br></p><p><strong>Position: Senior Associate – Operational Risk and Assurance</strong></p><p><strong>Business Unit: Governance, Risk &amp; Compliance </strong></p><p><strong>Reports to: Manager – Operational Risk and Assurance</strong></p><p><strong>Announcement Closing date: 20 May 2023</strong></p><p><br></p><p><strong>JOB PURPOSE:</strong></p><p><br></p><p>To identify and resolve governance gaps and risk areas in OIA’s business support functions, , and institutionalize the operational risk management framework covering Risk Control Self-Assessments (RCSA), Key Risk Indicators (KRIs), Loss Data Management (LDM), and Incident Management (IM) in order to apply effective risk management that is based on industry best practices across OIA and minimize incident impact.</p><p><br></p><p><strong>Key Roles &amp; Responsibilities:</strong></p><ul><li>Map the governance and risk environments for operational functions within OIA and create a framework of policies and practices to allow compliance with regulation and mitigate risk.</li><li>Support in the development of the Risk Appetite Framework by end of Q4 to be used for the following year for all business and support units to assist in raising the units’ risk awareness.</li><li>Identify and assign Risk Champions across business units and support them in the process of conducting Risk Control Self Assessments (RCSA) and provide advice or direction in terms of mainlining the control framework and associated risk register to ensure risk processes are maintained throughout OIA.</li><li>Assess OIA’s operational governance frameworks and requirements to identify gaps and rectify them based on OIA’s standards.</li><li>Design and implement the operational governance model to ensure improved operational clarity, visibility, and coordination.</li><li>Support in the compiling of quarterly risk reports that cover summaries from RCSA sessions, KRIs, LDM, and IM to ensure OIA executives, the Audit Committee, and the Board of Directors are knowledgeable of OIA’s risk undertaking.</li><li>Develop specific business support function models and embed risk processes in line with existing processes to ensure proper risk management is applied in the different business support functions.</li><li>Identify operational risks at OIA’s top level that might have considerable risk and incident exposure to OIA’s operations to provide clarity on OIA’s operational risks.</li><li>Develop and implement the Incident Reporting framework within OIA to ensure a reporting channel is available to employees.</li><li>Identify and categorize incidents that occur in OIA’s operations to ensure no aspect of an incident is overlooked.</li><li>Investigate the type, cause, and possible solutions for an incident to respond to incidents efficiently.</li><li>Provide the solutions for eliminating threats or root causes to ensure systems resumption to full functioning.</li><li>Support in undertaking the Business Impact Analysis and the development of business continuity strategies for emergency responses, crisis management, and disaster recovery to mitigate operational risk and exposure to financial and reputational losses.</li><li>Communicate with business support functions’ managers and directors about embedding risk management frameworks and provide recommendations on best practices to ensure operational efficiency and business continuity.</li><li>Guide business support employees towards proper risk management and provide advice to ensure risk management is effectively adopted.</li><li>Comply with the implementation of Governance, Risk &amp; Compliance Directorate policies and procedures, to ensure that all relevant procedural and legislative requirements are fulfilled.</li><li>Comply with all relevant health, safety, and quality requirements, in order to guarantee employee safety and legislative compliance.</li><li>Contribute to the identification of opportunities for continuous improvement of systems, processes and practices taking into account ‘leading best practices’, improvement of business processes, cost reduction and productivity improvement.</li></ul><p><br></p><p><strong>Educational Qualifications</strong></p><ul><li>Bachelor’s degree in Finance, Risk Management, or other relevant fields</li><li>FRM, PRM, CISA, ACCA or ISO 31000 certification is desirable</li></ul><p><br></p><p><strong> Work Experience</strong></p><ul><li>8 to 10 years of work experience in an investment environment</li></ul><p><br></p><p><strong>Competencies &amp; Skills:</strong></p><ul><li>Discipline</li><li>Creative and Innovative Thinking</li><li>Teamwork &amp; Cooperation</li><li>Planning and Organizing</li><li>Communicating and Influencing</li><li>Problem Solving</li><li>Achievement Drive &amp; Self-Motivation</li><li>Analytical Thinking</li></ul>