Job description / RoleJob TypeFull TimeJob LocationDubai, UAENationalityAny NationalitySalaryNot SpecifiedGenderNot SpecifiedArabic FluencyNot SpecifiedJob FunctionGeneral ManagementCompany IndustryBanking - CorporateOperating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.CBD has been recognized as the number one bank in the UAE on the Forbes list of The Worlds Best Banks 2022.As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.The purpose of this role is to develop and manage the Operational Risk Frameworks across the bank, improve the control environment, and reduce operational risk incidents, losses, and reputational damage to the bank.ResponsibilitiesDevelop operational risk policies and standards for the bankWork closely with the Head of Operational Risk Management in designing and implementing the Operational Risk Framework across the bankDrive the implementation of Risk and Control Self-Assessment (RCSA) across various lines of business within the bank for departments and for new products as well as for the banks outsourced vendorsTrack the actions captured within the RCSAs and ensure the implementation of the proposed actions within the designated timeframeAssist the business areas with the escalation and recording of Operational Risk events, challenge remedial and preventative actions to prevent reoccurrence as well as ensuring any customer issue is being handled and resolved on a priority basis to reduce any reputational losses to the bankCollect, review and report KRIs / Risk Appetite metrics, analyze and escalate in case of KRI threshold breach or irregular variance to identify the root cause and enforce remedial and preventative actionsEnsure operational losses are written off in a timely manner and through the designated GLMonitor and analyze the operational loss entries in GL on a periodic basis and send a monthly report to the Head of Operational RiskWork closely with various channels across the bank to recover any actual financial losses as well as taking appropriate actions to prevent any identified potential lossesReview bank policies and standard operating procedures to ensure adequate controls are embedded within the operational processesEvaluate and escalate critical and emerging operational risks to the Head of Operational RiskReview and update the ORM policies and procedures where applicableDevelop detailed reports and presentations on operational risk matters for management and ORM CommitteeWork closely with relationship owners of the banks outsource vendors to ensure full alignment to the banks Vendor Risk Management policy and procedures as well as CBUAE regulations and enforce the completion of the requirements within the designated timelinesConduct an independent review of the EIBOR submission on a monthly basis as per the CBUAE requirement to ensure the rate submission is aligned to the banks IRSG and CBUAE regulationsRequirementsExperience:5 years of relevant experience in operational risk, operations or in a control function with working knowledge of Operational Risk Management within a financial institutionSkills:Excellent verbal and written communication skillsStrong problem solving skillsHigh attention to detailKnowledge of retail, wholesale, treasury and Sharia banking products, processes and systemsCompetencies:Ability to execute on goals, prioritize and meet deadlinesAbility to multitask and work in a high volume environmentAnalytical thinkingEstablishes strong effective, collaborative relationships with all functions within the bankAbout the CompanyIn 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.