DFCU Bank is a fast growing commercial bank offering a variety of innovative products and services. DFCU Limited was started by the Commonwealth Development Corporation (CDC) of the United Kingdom and the Government of Uganda through the Uganda Development Corporation (UDC) under the name of Development Finance Company of Uganda Limited. Later restructuring brought in DEG (of Germany) and International Finance Corporation (IFC) as equal partners with CDC and UDC, each having a 25% stake in the company. Its objective was to support long-term development projects whose financing needs and risk did not appeal to the then existing financial commercial lending institutions.
The Operational Risk Manager will be responsible for the implementation of the Operational Risk Management Assurance Framework (ORMAF) within the businesses by ensuring all areas of the Bank manage operational risk in a proactive, risk based and disciplined manner for sustainable value addition to the Bank and its shareholders.
Key Duties and Responsibilities:
- Participate in developing strategies to identify, measure, monitor and control operational risk and provide independent oversight over the operational risk management framework.
- Regular review of the Bank’s operations to achieve effective functioning of the Operational Risk Management Assurance Framework across all units.
- Promote a strong operational risk management and compliance culture among all staff through training and holding workshops.
- Drive ownership of operational risk management down to Functional/Business Unit level to ensure timely escalation of significant risks to Management & Board Risk Committee.
- Periodic control testing to ascertain the integrity of the controls in the business or function and to actively manage the portfolio controls, including Generic, and Business Key Controls Self Assessments.
- Through the Head of Operational Risk Management, advise the Business/Function Heads on Operational risk issues. In liaison with the Risk champions at the first line of defence, provide strong governance oversight to ensure that the Business is suitably addressing significant external and internal requirements.
- Follow up and ensure that all Internal/External Audit and BOU inspection findings have been fully resolved and that no repeat findings arise in subsequent audits.
- Conduct periodic risk-based Function/Business Unit/Branch reviews to monitor how effective their risk management practices are and recommend for remedial actions where there are control weaknesses.
- Timely circulation of minutes of Management Risk Committee meeting to all members and follow up on all issues arising from Management Risk Committee meetings and ensure they are actioned within agreed timelines.
- Embed risk assessments in all business units, products/services, projects, activities, new business ventures and support the risk owners in creation/updating of the respective risk registers while ensuring the escalation of significant risks.
- Support the Bank’s digital strategy by performing the quality assurance role on Bank projects while ensuring any risks/threats to the Bank’s technology platforms are proactively identified and advised to the Head of Operational Risk Management or Chief Risk Officer.
- Coordinate the Bank’s Business Continuity Management activities including review of departmental BCPs, testing of these plans, evacuation drills, call tree testing, among others.
- Track Operational risk events while keeping a loss data base and sharing lessons learnt to reduce Operational losses.
- Analyse information and reports to establish trends and consider initiatives to reduce risk. Review trends reported to ensure effectiveness and adequacy of controls and their alignment to the Bank’s operational risk appetite.
Qualifications, Skills and Experience:
- The applicant for the DFCU Bank Operational Risk Manager career placement must hold a Degree level education preferably in a business-related field.
- Possession of a risk management or audit qualification is an added advantage.
- Six years’ banking experience in banking operations.
- Thorough knowledge and understanding of banking operations, processes, products and regulatory requirements.
- Ability to deal with problems of high complexity.
- Strong analytical skills
- Ability to coach staff on operational risk issues, prioritizing, and scheduling / accomplishment of work assignments with minimal supervision.
- Ability to interpret workflows and operational procedures.
- General knowledge of risks related to businesses and the industry.
- Proficient computer skills with experience in Microsoft Office
- Planning and organisational skills
All candidates who so wish to join the banking sector in the aforementioned capacity are encouraged to send their applications with detailed CVs including present position and copies of relevant professional/academic certificates (University Transcript, O & A level) to:
NB: dfcu Bank does not solicit/accept payment in cash/kind from prospective candidates in exchange for shortlisting or job placement. Any candidate who engages in this kind of transaction is aiding and abetting fraud and will be automatically disqualified