Senior Manager, Business Risk & Governance

Job description / Role

Company Overview

Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features, and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World's Best Banks 2022.

Job Purpose

The purpose of this role is to drive conformance to regulatory compliance, organizational (internal) processes and standards, operational risk framework, and overall end-to-end process governance for WBG segments. The role holder will be responsible for the business risk management and compliance activities in five key areas: Process Controls and Governance, Ongoing Due Diligence (ODD), Business Risk Advisory, and Monitoring. Though there is no financial delivery linked to this position, the position is to ensure banks comply with regulatory requirements and business risks are managed and mitigated to avoid any financial penalties and fines besides reputational loss.

Principal Accountabilities

• Develop policies and procedures (SOPs) and implement heightened monitoring measures on portfolios under the WBG umbrella (where needed).
• Identify specific change requirements and ensure responsibility for defining the end-to-end process along with reasonable risk mitigation and control measures.
• Regularly review and update the client-facing application and forms with respect to changing regulatory requirements.
• CBUAE related reporting requirements on KYC and ongoing due diligence.
• Quarterly training on KYC/ODD for First Line of Defence staff (FLOD).
• Weekly and monthly ODD/DQ/other reporting to the Compliance forum and senior management.
• Monitoring and applying restrictions, locks, and exits on accounts as per consequence management policy.
• Ensuring the consistent and effective implementation and performance of operational risk and control effectiveness of the First Line of Defence for Wholesale Banking Group.
• Work with the Regulatory, Financial Crime, and CDD teams to identify adverse trends, poor controls, and systemic risks.
• Provide support with oversight of the monitoring and implementation of regulatory and financial crime controls, ensuring consistency.
• Provide support in coordinating a holistic approach to the Regulatory/AML/CTF/Sanctions second line of defense (2LOD) assurance activity across the Bank and facilitate the development and embedding of best practice methodologies.
• Support with the preparation of structured Dashboards and Management Information (MI) for reporting purposes.
• Develop and manage an annual BRG plan for the execution of key activities.
• Review and assess the impact of key regulations related to WBG - process and technology.
• Provide guidance and input on key regulatory concerns or matters requiring attention as highlighted by internal and external stakeholders.
• Manage relationships with key contacts and stakeholders, including the Chief Compliance Officer, Head of Operational Risk, Chief Internal Audit, and other Coverage GMs.
• Regularly present compliance matters to senior management of WBG and recommend strategic or operational amendments for WBG activities.
• Build risk awareness amongst staff by providing support and training to relevant stakeholders.
• Assist with audit execution and engagement with the audit team on identified observations, representing the front line.
• Ensure RCSAs are done as per the framework for all WBG/TBG processes/functions.
• In conjunction with Ops Risk, facilitate the development of Risk, Control, and Security Assessments (RCSAs) which identify the key risks, their impact, and the relevant controls.
• Monitor origination procedures of frontline staff to ensure compliance with regulations and internal policies.
• Generate and circulate dashboards tailored to the relevant audience to manage the Business Risk and Governance activities planned for the year, educating stakeholders about the most significant risks to business, ensuring business heads understand the risks that might affect their business/departments, and ensuring individuals understand their own accountability for individual risks.
• Review and evaluate/assess policies and protocols; and make recommendations to implement modifications and improvements to the business processes.
• Manage activities to assist the Business Risk & Governance function to run business processes efficiently.

Requirements

Education and Experience

• Bachelor's Degree as a minimum from a recognized university.
• 7-10+ years of overall banking experience with specialized experience at a senior level in areas of compliance, audit, and operational risk.
• Experience working in relevant environments, such as Operational Risk, Business Risk, or Internal Audit in Financial Services organizations.
• In-depth knowledge of UAE regulatory framework, Wholesale & TB Banking products and services, and Operational Risk frameworks.
• Relevant product knowledge including experience of Control Monitoring and facilitating Risk and Control Assessments (RCAs) is required.

About the Company

In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.

By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.

Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.