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Description
As an Associate Vice President, Business Operational Risk and Governance you will be responsible for review and improvement of processes and activities within Retail Bank, with a focus on the Investment product space. Identify and mitigate operational/regulatory risk & issues.
What You Will Be Doing
- Examine processes within the Retail Banking Unit to find operational and regulatory gaps and collaborate on action plans to resolve them.
- Recommend improvements to enhance efficiency and compliance across the reviewed units.
- Share key findings and lessons with team members and other teams for overall improvement.
- Promote a culture of good governance by supporting control measures and addressing areas of concern.
- Assist with investigations of operational risk events, fraud cases, and ensure compliance with new and existing regulations.
- Align processes with operating procedures and regulatory requirements, ensuring consistency and compliance.
- Analyse system and manual data to ensure alignment with processes, addressing discrepancies when necessary.
- Review customer communications to confirm adherence to CPF and regulatory standards.
- Assess the unit’s internal MIS to find gaps and identify areas for improvement.
- Oversee RCSA control testing, KRI monitoring, and process updates to strengthen risk management for frontline business units.
Skills
What We Are Looking For
- Bachelor's degree, preferably Commerce / Finance / IT / Engineering or similar; MBA preferred
- Min 5 years of experience in investment products – Mutual Funds, Bonds, Structured Products, FX, stocks, futures & options, alternative investments including virtual assets etc.
- Certification or experience in Investment Risk Management, Operational Risk, Financial Analysis, etc.
- Prior working experience in product management, market risk, operational risk, middle office or audit functions in banks or SCA regulated entities
- Strong background in Accounting, Financial Analysis and Operational Risk
- Working knowledge of various wealth management product at product management or Risk Management side
- Understanding of local SCA and CBUAE regulations
- Ability to clearly design and comprehend complex futures and options formulas
- Good understanding of retail bank processes – sales and operational
- Awareness of Compliance & Technology Landscape
- Ability to review processes and identify risks and gaps
- Capable of successfully navigating in a multi stakeholder environment
- Client centric with process streamlining outlook
Opportunity Details
RAKBANK
RAKBANK, the trading name of the National Bank of Ras Al-Khaimah, is a public joint stock company, headquartered in the emirate of Ras Al-Khaimah, in the UAE. The Head Office of the bank is situated in RAKBANK Building, Emirates Rd, Ras Al-Khaimah. The bank is 52.75% owned by the Government of Ras Al-Khaimah.
Shares are publicly traded. Board consists of several members of the ruling family of the emirate of Ras-Al Khaimah and businessmen from UAE and Kuwait. The bank is engaged in providing retail and corporate banking services through a network of thirty three branches in the United Arab Emirates, but all the transactions are handled on a strictly commercial basis.
Board of Directors
H.E. Shaikh Omar bin Saqr Al-Qasimi Chairman U.A.E
H.E. Shaikh Salim bin Sultan Al-Qasimi Member U.A.E
Mr. Hamad Abdulaziz Al Sagar Member Kuwait
Mr. Abdul Aziz Abdulla Al Zaabi Member U.A.E
Mr. Yousuf Obaid Essa Al Nuaimi Member U.A.E
Mr. Ahmed Essa Al Naeem Member U.A.E
Mr. Salem Ali Abdulla Saeed Al Sharhan Al Nuaimi Member U.A.E