Strategic Risk and Compliance Manager

1 day ago

Muscat, Muscat, Oman beBee Careers Full time

Job Overview

The Strategic Risk and Compliance Manager is responsible for leading and managing the operational and fraud risk management unit. This role involves developing and implementing strategies, policies, and procedures to prevent, detect, and investigate fraudulent activities.

Main Responsibilities:

  • Maintaining a comprehensive risk management framework that minimizes operational risks.
  • Developing and implementing proactive measures and advanced detection tools to detect and prevent fraud.
  • Conducting regular risk assessments and ensuring comprehensive coverage of all critical areas.
  • Oversight of recommended risk mitigation measures and tracking their effectiveness.

Operational Risk Management

  • Implementing and monitoring the Operational Risk Management (ORM) framework and Key Risk Indicators (KRIs) across the bank.
  • Driving reduction in recurring operational risk events by analyzing trends and implementing preventive measures.
  • Ensuring all critical functions maintain updated and tested Business Continuity Plans (BCPs).

Fraud Detection and Prevention

  • Detecting and preventing fraud through proactive measures and advanced detection tools.
  • Measuring and reporting the number of fraud cases detected and the monetary value of fraud incidents prevented.
  • Achieving sustained reduction in fraud incidents through enhanced controls and awareness programs.

Risk Management

  • Conducting regular operational and fraud risk assessments and maintaining compliance with regulatory requirements.
  • Overseeing the implementation of recommended risk mitigation measures and monitoring their effectiveness.
  • Tracking and measuring key performance indicators such as average investigation time, investigation closure rate, and accuracy of investigations.

Team Performance and Development

  • Developing the operational and fraud risk team through training and professional development opportunities.
  • Maintaining team satisfaction and engagement through feedback and implementing initiatives to enhance performance.
  • Conducting periodic performance evaluations to ensure team members meet established standards and goals.

Reporting and Documentation

  • Ensuring timely submission of accurate and comprehensive investigation and risk reports to management and regulatory authorities.
  • Maintaining accurate records and documentation for all operational and fraud risk management activities.

Stakeholder Engagement

  • Fostering successful partnerships with external stakeholders, including regulatory bodies and law enforcement agencies.
  • Collaborating with internal stakeholders such as compliance, audit, and legal teams to strengthen the risk management framework.

Continuous Improvement

  • Leading the adoption of industry best practices in operational and fraud risk management.
  • Introducing innovative tools, technologies, and methodologies to enhance fraud detection and prevention capabilities.
  • Driving continuous improvement initiatives to strengthen the bank's operational and fraud risk management processes.

Professional Requirements

  • Postgraduate degree and a minimum of 7 years' experience in the banking sector.

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