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Job Title:  Head of Operational Risk Management

Organisation: DFCU Bank

Duty Station: Kampala, Uganda

Reports to: Chief Risk Officer

About Organisation:

DFCU Bank is a fast growing commercial bank offering a variety of innovative products and services. DFCU Limited was started by the Commonwealth Development Corporation (CDC) of the United Kingdom and the Government of Uganda through the Uganda Development Corporation (UDC) under the name of Development Finance Company of Uganda Limited. Later restructuring brought in DEG (of Germany) and International Finance Corporation (IFC) as equal partners with CDC and UDC, each having a 25% stake in the company. Its objective was to support long-term development projects whose financing needs and risk did not appeal to the then existing financial commercial lending institutions.

Job Summary: Reporting to the Chief Risk Officer, the Head of Operational Risk Management will lead and drive the effective function of the Operational Risk Management framework and program to ensure consistency with the Bank’s Operational Risk Policy while providing advisory services to Business on all aspects to do with business unit risks, controls, testing, remediation, loss analysis, predictive key risk indicators, reporting, policy and procedure development.

Key Duties and Responsibilities:

• Implement and monitor the Operational Risk Management framework and develop strategies, systems and practices that minimise losses due to unanticipated/unmanaged risks. Deploy Risk Management practices to contain operational losses by periodically revising and updating key processes.
• Facilitate the setting of the risk appetite by the Board and monitor risk exposure against the Board-approved limits; advise ExCo, committees & Board on strategies to manage the risks thus identified.
• Assess and provide recommendations on all strategic changes, Information Technology developments/new products, projects, business lines, and/or reinsurance treaties that may be proposed by the Business in line with the Board-approved Risk Appetite Statement.
• Develop stress testing scenarios for Operational, Cyber security, Third Party and any other risks assigned and ensure that the results support appropriate management decision-making in line with the bank’s stress testing policy.
• Develop strategies for planning and executing a robust Risk and Control Assessment (RCA) process within the organisation to ensure that risks are identified by the first line of defence, in time and risk registers are updated timely in addition to having action/remediation plans to address control gaps identified as part of the process.
• Keep abreast of regulations, industry trends, & best practices in Risk Management; continually develop & improve the Bank’s risk management system (policies, procedures, reporting practices) for all risk categories of the bank: undertake strategic projects to address relevant issues.
• Demonstrate subject matter expertise (SME) on operational risk and control matters by developing/maintaining strong positive working relationships with senior management/business unit staff, peers, and other control functions, in fulfilment of the advisory role.
• Develop and deliver training to the business units and/or peers on regulatory matters, operational risk management, policies and procedures, current industry practices, and risk and control standards to promote strong operational risk management and compliance culture among all staff
• Develop and maintain department policies and procedures in line with the regulatory framework to support governance monitoring processes and assist in the review, and enhancement of these policies and procedure standards.
• Leverage data to proactively identify risk, and create dashboards to aid robust risk monitoring to prevent, and mitigate operational risks, eg Operations risk event data, Operational loss data, etc.
• Drive the achievement of the department’s assurance plan and ensure that the team identifies any gaps within the business units/processes and ensures that control lapses are within the recommended closure timelines.
• Identify, manage and mitigate risk, and improve the performance of the Bank’s investment portfolio by ensuring, stringent compliance with applicable environmental laws and regulations, pollution prevention and environmentally sustainable practices, and continuous improvement in all areas of environmental management.
• Ensure that the bank’s Business Continuity procedures are robust to improve the bank’s Operational resilience and aid smooth recovery from disruptions.
• Development of strategies for ongoing risk assessment, evaluation of appropriate IT security controls, development and monitoring of policies and standards, security awareness and embedding compliance with industry regulations related to information security.

Qualifications, Skills and Experience:

• A Degree-level education in a business-related discipline
• Post-graduate education in risk management for banking or a professional qualification in Operational Risk and Information Technology.
• 8 years of banking operations experience
• Thorough knowledge and understanding of banking operations, processes and regulatory requirements.
• Strong Managerial and leadership skills
• Excellent oral, written and interpersonal skills; strong ability to work with all levels of management within the company.
• Thorough knowledge and understanding of banking operations, processes and regulatory requirements.
• Strong understanding and knowledge of many information technology domains and technology risk management
• Good understanding of risks related to businesses and the financial industry.
• Demonstrated knowledge of laws, regulations, regulatory guidance, and rules impacting financial services; ability to grasp complex processes quickly and be able to identify risks and compensating controls.
• Sound understanding of compliance and operational risks and internal control frameworks; experience working on initiatives that require strategic planning/thinking.
• Excellent problem-solving abilities and results-oriented; able to make decisions independently. Experience working/managing projects across multiple functional areas and dealing with multiple business partners.
• Excellent organizational skills and meticulous attention to detail; analytical/research skills coupled with the ability to effectively summarize findings.
• Proficient PC skills with experience in Microsoft Office and Outlook, PowerPoint and others

How to Apply:

If you believe you meet the requirements as noted above, please forward your application with a detailed CV including your present position and copies of relevant professional/academic certificates, to the email address indicated below:

Vacanciesbank@dfcugroup.com

Deadline: 25th June 2024

Disclaimer: dfcu Bank does not solicit/accept payment in cash/kind from prospective candidates in exchange for shortlisting or job placement. Any candidate who engages in this kind of transaction is aiding and abetting fraud and will be automatically disqualified.

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