National Bank of Commerce
NBC is the oldest serving bank in Tanzania with over five decades of experience. We offer a range of retail, business, corporate and investment banking, wealth management products and services.
The purpose or objective of this role is to deliver effective and outcome/result based Operational Risk Management Oversight to the Business value chain including the middle and back office support activities. In addition, the job holder has responsibility to drive mature risk culture in the business in terms of adequate risk governance, proactive and effective Risk Evaluation, Response and Monitoring. Further, the role seeks to ensure the bank’s overall Enterprise Risk Management Framework (ERMF) and the Operational Risk Management Framework (ORMF) are implemented and embedded in the respective in the business. In addition, oversight extends to highlighting gaps and recommend actions in the implementation and embedment of the other Non-Financial Principal Risk Frameworks i.e. Resilience, Reputational Risk, Conduct risk and Financial Crime etc.
- Continuous monitoring of the internal and external operating environment to identify emerging risks.
- Assisting Key Risk Owners with the identification of key risk indicators in their business units.
- Monitoring the implementation of action plans to address amber and red key risk indicators reported monthly to Operational Risk Management
- Conduct trend analysis and identify potential themes in key risk indicators reported to Operational Risk Management.
- Perform quality assurance of reported operational risk events and other information captured in the operational risk reporting tool.
- Carry out conformance review of operational risk events and Risk and Critical Process Assessments (CPA) and Control Self Assessments (RCSA) where applicable.
- Review and challenge root cause analyses on identified risk events and recommend improvements to prevent recurrence in the future.
- Performing a monthly reconciliation between operational losses reported to Operational Risk Management and those captured in the General ledger by Finance.
- Assisting Key Risk Owners with the identification of key risks and mitigating controls in their units, as well as action plans to address any gaps in the mitigating measures identified.
- Review and challenge the outcome of Critical Process Assessments (CPA) and Risk and Control Self Assessment (RCSA) process performed by first line of defense.
- Monitoring the implementation of action plans to address amber and red key risks on the risk and control self-assessments.
- Conduct operational risk event trend analysis and identify potential themes.
- Follow up and monitor closure of actions arising from control failures as well as audit findings raised by regulators, internal and external auditors.
- Participate in reviews of and challenge risk assessments performed on new products.
- Ensure that the respective business area has an effective Risk and Control Forum (BU RCF) where detailed deliberations on risk matters takes place.
- Ensure there is appropriate escalation to management risk governance committees of any risk issues that appear to be out of control by the BU leadership.
- Ensure there is effective management of projects and products impacting the business. This should be as per policy requirement and Strategy focus.
- Implement and embed Combined Assurance Model
- Plus any other duties assigned by the line management.
Bachelor`s Degrees and Advanced Diplomas – Business, Commerce and Management Studies, Digital familiarity (Meets some of the requirements and would need further development), Experience in a similar environment at junior specialist level, Openness to change (Meets some of the requirements and would need further development), Process optimisation (Meets some of the requirements and would need further development), Reasoning (Meets all of the requirements), Risk Management (Meets all of the requirements)
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