Unit Head - Operational Risk Management

Summary of Role

To lead the Operational Risk Management function, ensuring effective identification, assessment, monitoring, and mitigation of operational, fraud, and business continuity risks across the Bank. The role is responsible for embedding a strong risk culture, enhancing control frameworks, ensuring regulatory compliance, and working closely with senior management to strengthen operational resilience and governance.

Key Responsibilities

1. Operational Risk Management
   • Lead the implementation of Operational Risk Management (ORM) frameworks, policies, and strategies across the Bank, ensuring alignment with regulatory expectations and industry best practices.
   • Develop, refine, and continuously enhance risk control frameworks to effectively identify, assess, monitor, and mitigate operational risks across all business units and functions.
   • Establish, govern, and maintain effective ORM tools and methodologies including Risk and Control Self-Assessment (RCSA), Key Risk Indicators (KRIs), Loss Data Management, and Scenario Analysis.
   • Ensure ORM framework is fully integrated with the Bank’s strategy, risk appetite, and business objectives to enable proactive risk-based decision-making.
   • Monitor key operational risk exposures, emerging risks, and control weaknesses, ensuring timely escalation to senior management and relevant governance committees.
   • Oversee the implementation and effectiveness of risk mitigation action plans, ensuring accountability, timely closure, and sustainable resolution of high-risk issues.
   • Ensure full compliance with Basel requirements, local regulatory standards, and internal risk policies, including timely reporting and regulatory submissions.
   • Drive the embedding of a strong risk culture across the Bank by promoting awareness, accountability, and ownership of operational risks at all levels.
   • Provide advisory support and challenge to business units on risk identification, control design, and operational risk mitigation strategies.
   • Lead continuous improvement initiatives to enhance ORM maturity, governance standards, and control effectiveness across the organization.
   • Review the Bank’s procedures from an operational risk perspective to ensure the adequacy and effectiveness of internal controls.
   • Review business requirements for new products, services, and change requests to ensure operational risks are adequately identified, assessed, and addressed by the respective business units.
   • Review user access rights and user profiles across the Bank’s systems to ensure access levels comply with Bank policies and align with users’ role requirements.
2. Business Continuity Management (BCM)
   • Lead the design, implementation, and continuous enhancement of the Business Continuity Management (BCM) framework across the Bank.
   • Oversee the identification of critical business functions and ensure comprehensive Business Impact Analysis (BIA) is conducted, maintained, and regularly updated.
   • Ensure robust development, documentation, and governance of Business Continuity Plans (BCPs) for all critical processes and functions.
   • Monitor BCM readiness across the Bank, ensuring regular testing, simulation exercises, and scenario-based resilience assessments are conducted.
   • Evaluate BCM test results and ensure gaps are identified, escalated, and remediated within agreed timelines.
   • Ensure alignment of BCM strategies with regulatory expectations, operational resilience requirements, and business priorities.
   • Drive continuous improvement in disaster recovery capabilities, ensuring systems, processes, and people readiness for business disruption scenarios.
   • Monitor and ensure closure of BCM-related risks, audit findings, and regulatory observations in a timely and effective manner.
   • Strengthening coordination between BCM, IT Disaster Recovery, and business units to ensure end-to-end operational resilience.
3. Team Leadership & Performance Management
   • Lead, manage, and develop the Operational Risk Management team by setting objectives, allocating responsibilities, monitoring performance, providing coaching and guidance, and fostering a high-performance, risk-aware culture.

Requirements

Education & Experience Requirement

Omani Nationals Only