Lead- GCF FLOD Risk & Controls Governance

Quality Assurance
United Arab Emirates 🇦🇪
October 7, 2023

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Job Description

Company Description

First Abu Dhabi Bank is an inclusive environment where each person values the experiences, perspectives, ideas and beliefs of others. We’re in a unique position to learn from all our colleagues, combining international experience with deep cultural knowledge and local expertise. At FAB, you’ll have the support of your team and a strong relationship with your line manager, who will trust you with responsibility and recognize your good performance. As we embrace different ways of seeing the world, listening to each other and respecting different viewpoints, we grow stronger – together.

Job Description

Job Purpose:

Responsible for supporting IBG Risk & Control Head in managing end to end risk for processes owned by the Business. The person is responsible for supporting and executing the first line of defense and ensures effective implementation of Risk Framework, process controls and governance within the GCF Business including Enterprise Risk Assessments and reporting.

Understanding and interpreting regulatory requirements and ensuring the controls frameworks are compliant where required.

This is a key new function, strong leadership, communications and stakeholder influencing skills are important.

Key Accountabilities:

 

Risk Tracking:

  • Tracking of business-owned action plans in progress to implement/comply with new/changed regulation.
  • Design and implementation of new/changed controls.

Processes:

  • Risk identification of end-to-end process universe for the business and related designing & implementation of control.
  • Responsible for ensuring material operational risk losses and risk assessment gaps (EWRA and RCSA) are investigated by relevant process owner and corrective actions are taken to prevent recurrence.

Regulatory Engagement:

  • Coordinated provision of business inputs and MI in response to regulatory requests for return submissions, information and exams.

Policy:

  • Tracking of Group policy changes and cross-referencing change requirements for business SOPs.

Risk Assessments:

  • EWRA: Coordination of business inputs and MI.
  • EWRA: Challenge/validation of Compliance Assessments (Inherent Risk and Control) in the first instance.
  • RCSA: Coordination of business RCSA activities, including identification of key regulatory risks inherent in business processes assessed through RCSA (and gaps);
  • RCSA: Coordination of challenge sessions by SLOD (Compliance) on assessment of regulatory risks within RCSA.
  • Other (e.g., Conduct Risk, for as long as required): Coordination of business inputs and MI.
  • Development of KRIs to measure control performance in real-time.

Assurance:

  • Coordination of business responses to proposed Compliance Monitoring and Testing plan.
  • Execution of some FLOD Monitoring activities based on business & Compliance agreement.
  • Oversee RCSA items, self-assessments outcome i.e., exception themes, along with the consistent execution of self-assessment checks for business owned processes.
  • Supporting the Head Risk & Control in designing and conducting peer reviews.

Issues Management:

  • Coordination of escalation and management of business-owned issues emanating from Compliance Monitoring, GIA, regulatory examinations, and business monitoring.
  • Coordination (with Compliance, GIA, etc.) of appropriate business ownership of issues.
  • Tracking of issue closure progress, including interim milestones; escalation to business of delinquencies, and to Compliance, GIA etc., especially where delinquencies have regulatory impact.
  • Management of dependencies and escalation where required.
  • Management and escalation of near misses.
  • Design and Ensure the Audit Socialization conducted for the Region is undertaken effectively and timely.

Training:

  • Measurement of training uptake and escalation of delinquency
  • Coordination of business responses to proposed Compliance Training plan
  • Responsible for raising awareness of business controls, governance and supervision responsibilities amongst relevant staff in the business and ensure an appropriate culture amongst all staff in this regard.

Reporting and Governance:

  • Development of a business-owned governance forum(attended by Compliance etc.) to ensure oversight of risk and timely resolution of issues.
  • Reporting and escalation of business risk KRIs
  • Thematic and trend analysis

Breach and Disciplinary Management:

  • Tracking of business breaches and disciplinary cases

 

Qualifications

Minimum Qualification:

  • Bachelor’s degree or higher in management, banking, finance, preferably with certification in compliance, KYC/AML/CFT, financial crime or risk management.

Minimum Experience:

  • Minimum of 10 – 15 years of experience in a reputable international bank, experience of working in regulated jurisdictions and exposure to international financial services regulations.
  • Minimum of 10 years+ of experience preferably in a CIB aligned Enterprise Risk, Risk & Control, Operational Risk, Compliance or Internal Audit role.
  • Combination of Enterprise Risk Management, Internal Audit or Compliance experience would be considered an asset.
  • Good understanding of Corporate Finance products, processes, risks & controls.
  • Understanding of SCA regulations and reporting requirements would be a plus.

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