Centenary Bank
Job Title: Risk Officer
Employer: Centenary Bank (A Member of Centenary Group)
Job Purpose:
The Risk Officer will be responsible for identifying, assessing, monitoring, and mitigating operational risks within the bank. This involves analyzing business processes, identifying control weaknesses, and recommending improvements to ensure business continuity, compliance with regulations, and minimized potential losses arising from internal or external factors such as system failures, fraud, legal issues, or human error.
Key Responsibilities:
1. Risk Management
- Conduct regular risk assessments across various business lines to identify potential operational risks within processes, systems, and activities.
- Analyze loss event data and identify key risk indicators (KRIs) to recognize emerging risks and trends.
- Perform root cause analysis on operational incidents to understand underlying issues and prevent recurrence.
- Aggregate and analyze operational risk data to prepare comprehensive reports for senior management and regulatory bodies.
- Communicate key risk insights and mitigation strategies to relevant stakeholders.
2. Control Evaluation and Monitoring
- Review existing controls and procedures to assess their effectiveness in mitigating operational risks.
- Recommend and implement new controls where necessary to address identified gaps.
- Monitor control effectiveness through regular testing and reviews, including self-assessments by business units.
3. Policy Development and Governance
- Assist in developing and maintaining operational risk management frameworks in alignment with regulatory requirements.
- Ensure adherence to operational risk policies and procedures across the bank.
4. Business Partnering and Collaboration
- Train staff at all levels on core operational risk management issues (e.g., internal controls, business impact analysis, and business continuity).
- Work closely with business line managers to embed risk management practices into daily operations.
- Provide guidance and support to business units on risk identification, assessment, and mitigation strategies.
- Collaborate with other functions such as compliance, routine control, and internal audit to ensure a holistic view of risk exposures and embed a strong risk management culture across the bank.
Qualifications and Experience:
- A minimum Bachelor’s Degree in Economics, Finance, Accountancy, or Business Administration.
- At least 3 years of practical work experience in the financial services industry, preferably in banking.
- Strong understanding of banking operations, processes, internal controls, and regulatory requirements related to operational risk.
- Expertise in risk assessment methodologies, including scenario analysis and key risk indicator development.
- Excellent analytical, attention to detail, and problem-solving skills to identify root causes of operational risks.
- Effective communication and presentation skills to convey complex risk information to various stakeholders.
- Ability to build strong relationships with business partners and influence decision-making.
How to Apply:
Interested candidates should submit their applications, including a cover letter and CV in one PDF file, to recruitment@centenarybank.co.mw. Please indicate the position you are applying for in the subject line of your email. Closing Date: Wednesday, 18th December 2024. Note: Only shortlisted applicants will be acknowledged.
For more details, visit: www.centenarybank.co.mw or call 358 (toll-free).