Title:  Manager, Operational Risk

OVERVIEW

JOB PURPOSE

The job holder is expected to contribute to the development, enhancement, and implementation of ITFC’s Operational Risk Management Framework (Policies, RCSA, KRIs, loss data, scenarios, capital, etc.). The role encompasses operational risk identification, assessment, monitoring, reporting, and mitigation to safeguard ITFC’s interests in a robust and structured manner. The job holder will support the Senior Expert, Operational Risk in strengthening ITFC’s operational risk culture by building awareness around the stipulated policies and ensuring adherence across the organization and support the Senior Expert, Internal Control in undertaking tasks falling under operational risk management.

KEY ACCOUNTABILITIES

Under the supervision of the Senior Expert, Operational Risk, undertake the following:

Operational Risk Policies and Procedures

• Provide technical expertise and input in the formulation and periodic update of ITFC’s operational risk management policies, frameworks, and guidelines.
• Contribute to the development of processes for implementing operational risk management policies and defining standard procedures, including monitoring mechanisms.
• Support the establishment and maintenance of Operational Risk Management tools such as Risk & Control Self-Assessments (RCSA), Key Risk Indicators (KRIs), and loss event reporting mechanisms.
• Liaise with relevant departments to drive implementation of operational risk policies and ensure alignment with governance and compliance requirements.
• Monitor completeness of adherence with stipulated operational risk guidelines across the organization.
• Highlight areas of concern from a compliance and operational risk perspective to the departments concerned and to the Senior Expert, Internal Control.

Operational Risk Management

• Identify, assess, measure, and report operational risks arising from processes, systems, people, and external events across ITFC functions.
• Facilitate and coordinate RCSA exercises with business and support units, ensuring appropriate documentation of risks and controls.
• Develop and maintain operational risk registers, including tracking risk events/incidents/loss data and control deficiencies.
• Monitor Key Risk Indicators (KRIs) and recommend threshold adjustments or mitigation measures where required.
• Analyze operational risk incidents, perform root cause analyses, and recommend corrective and preventive actions.
• Input and maintain data in relevant systems to ensure accurate reporting and analysis.
• Support scenario analysis, stress testing and capital inputs related to operational risk exposures.
• Contribute to the preparation of periodic operational risk reports highlighting key findings and recommended courses of action.
• Support business continuity and resilience initiatives by incorporating operational risk considerations into contingency planning.
• Contribute to the preparation and delivery of operational risk awareness sessions and training.
• Undertake tasks/assignments falling under the scope of operational risk management and referred to by the Senior Expert, Internal Control (Head of Internal Control Function) for internal control initiatives/projects.
• Coordinate with Internal Audit, Compliance, and other Risk units to ensure consistency.

KEY ACCOUNTABILITIES

ACADEMIC AND PROFESSIONAL QUALIFICATIONS

• Post Graduate Degree: in Risk Management, Finance, Business Administration, or related discipline with a strong background in statistical data analysis and quantitative techniques.
• Professional certifications such as PRMIA ORM, FRM, CIA, or equivalent are considered a plus.
• Minimum of 4 years of experience in operational risk, risk management, internal audit, or related functions within financial institutions, banks, or multilateral organizations.

SKILLS & NECESSARY KNOWLEDGE

• English is compulsory
• Arabic and/or French is a plus

ABOUT APPLICATION PROCESS

If you meet the criteria and you are enthusiastic about the role, we would welcome your application. To complete the application you would need the following document(s):

• Resume/CV
• Copy of passport
• Academic certificate

The Islamic Development Bank (IsDB) does not ask for payments of any kind from applicants throughout the recruitment process (job application, CV review, interview meeting, and final processing of applications). In addition, the IsDB does not request information on applicants’ bank accounts. The IsDB declines all responsibility for the fraudulent publications of job posts or job offers in its name or, in general, for the fraudulent use of its name in any way whatsoever.