Operational Risk Officer

At RAKBANK, we believe in fostering a culture of innovation, growth, and excellence. We are not just a bank, we are a community that thrives on teamwork, cutting-edge solutions, and the highest standards of governance.

The Operational Risk Analyst / Senior Analyst will play a critical role in supporting the Banks Operational Risk Management function by independently reviewing and challenging risk assessments, controls, incidents, KRIs, and remediation plans across business units. The role holder will also serve as a key administrator and subject matter expert for the Archer GRC platform, ensuring effective governance, data integrity, accurate reporting, and robust operational risk oversight across the organization.

What You Will Be Doing:

• Perform independent review and challenge of Risk and Control Self-Assessments (RCSAs) to ensure completeness, accuracy, and appropriate risk ratings.
• Assess the adequacy and effectiveness of controls, mitigation plans, and risk acceptance decisions, escalating concerns where necessary.
• Review operational risk assessments for alignment with the Banks Operational Risk Framework, policies, and standards.
• Review and challenge operational risk incidents to ensure accurate classification, root cause analysis, impact assessment, and corrective action plans.
• Monitor remediation activities and challenge overdue or ineffective risk mitigation actions.
• Ensure completeness, accuracy, and integrity of operational loss data maintained within Archer.
• Review and challenge Key Risk Indicators (KRIs), thresholds, and trigger levels across business units.
• Perform trend analysis to identify emerging risks, control weaknesses, and thematic issues requiring management attention.
• Escalate material KRI breaches and significant operational risk exposures in a timely manner.
• Act as the Operational Risk Subject Matter Expert for the Archer GRC platform.
• Manage and maintain Archer modules including RCSA, Incident Management, KRI, Issues Management, Risk Register, and Action Tracking.
• Conduct regular data quality reviews and reconciliation activities to ensure information accuracy and completeness within Archer.
• Support Archer system enhancements, workflow improvements, user acceptance testing, and release management activities.
• Provide user support, guidance, and training to stakeholders on Archer processes and operational risk requirements.
• Prepare operational risk dashboards, management reports, and committee reporting packs.
• Conduct thematic reviews and analysis of operational risk trends, incidents, and control deficiencies.
• Support reporting requirements for Executive Management, Management Risk Committee, Board Risk Committee, and regulatory stakeholders.
• Assist in internal audits, regulatory examinations, independent reviews, and risk-related information requests.
• Promote strong risk culture and awareness across business units through training and stakeholder engagement activities.
• Ensure compliance with all internal policies, regulatory requirements, and governance standards.

What You Should Have:

• Bachelors degree in risk management, Finance, Business Administration, Accounting, or a related discipline.
• Minimum 5 years of Operational Risk Management experience within banking or financial services.
• Strong experience in RCSA review and challenge, Incident Management, KRI Governance, Issues Management, and Operational Risk Framework implementation.
• Hands-on experience with Archer GRC platform administration and operational risk modules.
• Experience preparing operational risk dashboards, management reporting, and committee packs.
• Strong understanding of Basel Operational Risk principles and CBUAE regulatory requirements.
• Advanced analytical and problem-solving capabilities.
• Excellent stakeholder management and communication skills.

What We Are Looking For:

• Strong independent review and challenge mindset with attention to detail.
• Expertise in Archer GRC administration, governance, and reporting.
• Ability to identify emerging risks, control weaknesses, and process improvement opportunities.
• Strong data analysis and reporting capabilities, including Power BI exposure.
• Ability to engage effectively with stakeholders across all levels of the organization.
• Strong organizational skills with the ability to manage multiple priorities and deadlines.
• Commitment to fostering a proactive risk culture and continuous improvement environment.

Whats In It For You

• Competitive compensation and performance-linked rewards.
• Opportunity to work within a high-impact Operational Risk function.
• Exposure to senior management, risk committees, and strategic risk initiatives.
• Career development and growth opportunities within Risk Management.
• Collaborative and inclusive work environment.
• Opportunity to contribute to strengthening the Banks risk governance and control framework.
• Work with talented professionals in a dynamic and evolving banking environment.