Operational Risk Analyst

Overview

In order to make sure that there is adequate risk management oversight and infrastructure in place to measure, monitor, and control such risks, the operational risk analyst is in charge of conducting reviews and analyzing new or altered procedures. In addition to assisting in the formulation and execution of risk mitigation plans, he or she will support the completion of yearly assessment reviews, scenario analysis exercises, and risk/control self-assessments tailored to individual business units.

Responsibilities

• Collaborate with business units to comprehend issues, future plans, and business drivers while providing assistance to reduce risk. • Assist in completing yearly assessment reviews, scenario analysis exercises, and business unit-specific risk/control self-assessments. Additionally, assist in identifying the underlying reasons for operational exceptions and supporting the creation and implementation of risk mitigation plans. • Review policies and procedures on a regular basis to determine whether controls are adequate and to inform management of potential risks. • Make sure that important risk indicators are set up, and provide reports every month. • All models, methods, processes, and systems for operational risk management should be kept up to date. • Provide control improvements to guarantee that known hazards are kept within reasonable bounds and adhere to uniform guidelines. • Regularly track and monitor operational risk issues. • Incident management, comprising evaluation, reporting, analysis, and correction • Examine instances of control violations and suggest improvements to current procedures in order to reduce risk. • Determine, regulate, reinforce, and notify management of all significant inherent hazards. Assist in creating efficient procedures to reduce these risks. • Collaborate with an additional organizational defense system, such as Internal Audit or Compliance. OTHER ASSIGNMENTS • Any additional tasks that the department head assigns • By carrying out the steps outlined in the operational risk management framework, the operational risk analyst is in charge of identifying and elevating both regular and new operational risks. • In order to highlight risk profiles for management evaluation, he or she communicates. • Additionally, he makes suggestions and puts them into action for the organization's risk management and response. • He assists operational units in adhering to the frameworks and policies of operational risk management.

Requirements

• Two things: an ACIB professional qualification and a strong first degree in any discipline. • A minimum of three years' experience as a process development officer, internal control officer, audit officer, or operational risk analyst • Proficiency with efficiency and suitability testing for processes, as well as familiarity with risk management frameworks such as COSP/COSO. • Strong analytical abilities with the capacity to accurately and meticulously gather, arrange, evaluate, and distribute large volumes of information.