Job description

Organization Unit Purpose

Group Operational Risk Oversight (Retail Banking and Wealth Management) and Conduct Risk is a Group Risk function, independent of all business units and forming part of the Group Enterprise and Operational Risk function. The unit is responsible for the second-line oversight of operational risk and conduct risk across the Group's Retail Banking, Private Banking and Wealth Management businesses. It owns and maintains the operational risk management framework as it applies to these segments — including risk and control self-assessments (RCSA), key risk indicators (KRIs), operational risk event and loss data management, scenario analysis and new product and process approval (NPPA) — as well as the Group Conduct Risk Framework covering market conduct, sales practices, product governance, suitability and consumer protection.

The unit provides independent challenge to the first line, monitors the operational and conduct risk profile against the Board-approved risk appetite, and ensures unified implementation of the Group Risk Management Framework across business segments, subsidiaries and international locations. It is a key support function for the GCRO office, focused on adding business value, strengthening the control environment and embedding a strong risk and conduct culture to enhance the businesses' efficiency and effectiveness in managing their risk.       

Job Purpose

The role exists to drive the effective governance, oversight and operational delivery of operational risk and conduct risk management across the Group's Retail Banking and Wealth Management businesses. The job holder serves as the central second-line point of accountability for the design, maintenance and embedding of the operational and conduct risk frameworks — including independent second-line oversight of new product and process approval (NPPA) — ensuring alignment with CBUAE regulatory requirements (including the Consumer Protection Regulation and Standards and operational risk requirements) and international best practice standards across all jurisdictions in which the Group operates. The unique contribution of the role is to provide independent, forward-looking risk oversight that protects customers and the Group while enabling sustainable, well-controlled growth of the retail and wealth franchises.

Job Content

1. Operational Risk Management & Oversight

Operational Risk Management Framework (ORMF)

• Own and maintain the operational risk management framework as it applies to Retail Banking, Private Banking and Wealth Management, aligned to the Group Risk Management Framework and CBUAE operational risk requirements.
• Ensure consistent application of RCSA, KRI, operational risk event / loss data and scenario analysis methodologies across the covered businesses, branches and subsidiaries.
• Maintain the framework taking into consideration changes in the regulatory and banking landscape and audit findings (if any).

Risk & Control Self-Assessment (RCSA)

• Oversee and provide independent second-line challenge to the RCSA process for retail and wealth products, channels and processes.
• Assess the design and operating effectiveness of key controls and track remediation of control gaps to closure.

Operational Risk Events & Loss Data

• Oversee the identification, capture, investigation, root-cause analysis and reporting of operational risk events and losses across retail and wealth.
• Ensure timely escalation of material incidents to the GCRO, EXCO and relevant committees, and drive lessons-learned and control enhancements.

Key Risk Indicators & Risk Appetite

• Define, monitor and report operational and conduct KRIs against the Board-approved risk appetite for retail and wealth.
• Escalate appetite breaches, recommend management actions and track them through to resolution.

New Product and Process Approval (NPPA)

• Own the second-line operational and conduct risk assessment and sign-off within the Group's New Product and Process Approval (NPPA) framework for retail and wealth products, services, channels and material process / system changes.
• Provide independent challenge on new product and process proposals prior to launch, ensuring risks are identified, controls are adequate and residual risk is within appetite, with fair customer outcomes embedded by design.
• Track conditions of approval and post-implementation reviews (PIRs) to closure, and maintain oversight of the NPPA pipeline, governance and management information.

1. Conduct Risk & Consumer Protection

Group Conduct Risk Framework

• Own, maintain and embed the Group Conduct Risk Framework covering market conduct, sales practices, product governance, suitability / appropriateness and fair treatment of customers.
• Define conduct risk appetite and conduct MI, and report the Group's conduct risk profile to senior management and the Board Risk Committee.

Consumer Protection (CBUAE)

• Provide second-line oversight of compliance with the CBUAE Consumer Protection Regulation and Consumer Protection Standards across retail and wealth.
• Provide independent challenge on disclosure and transparency, responsible lending, pricing, financial inclusion and complaints handling.

Product Governance & Suitability

• Provide independent oversight of product governance and the suitability / appropriateness of investment, bancassurance and banking products distributed to retail and wealth clients.
• Challenge target-market definition, product approvals and periodic product reviews.

Complaints & Root-Cause Oversight

• Oversee complaints management from a conduct-risk perspective, driving thematic root-cause analysis and systemic remediation.
• Monitor redress, emerging trends and conduct issues and report to the relevant committees.

Sales Practices & Incentives

• Provide oversight of sales practices, staff incentive and reward schemes and mis-selling risk to ensure alignment with fair-customer-outcome principles.

1. Governance, Committees & Reporting

Risk Committees & Governance

Management of, and representation on, risk committees and forums, including:

• Group Risk Committee –presenter, as needed, for operational and conduct risk matters.
• Retail and Wealth business risk forums 
• Conduct / Consumer Protection Forum

Group Risk Reporting

• Own periodic operational and conduct risk reporting for retail and wealth to EXCO, GRC, BRC and the Board against risk appetite.
• Provide integrated risk-profile views, thematic deep-dives and early-warning indicators.

Group Oversight – Branches & Subsidiaries

• Provide oversight of operational and conduct risk management for retail and wealth at relevant international branches and subsidiaries as required by international oversight framework.
• Review subsidiary / branch risk submissions, appetite metrics and breaches, and ensure alignment to Group standards.

1. Regulatory & Supervisory Engagement

Regulatory Change & Gap Assessment

• Own the gap assessment and implementation oversight for operational risk and conduct / consumer-protection regulations issued from time to time by the CBUAE and other relevant regulators.

Supervisory Audits & Examinations

• Coordinate Group Risk engagements relating to regulatory examinations, thematic reviews and internal / external audit on operational and conduct risk matters, and oversee remediation of findings.

Risk Culture & Capability

• Drive operational and conduct risk awareness, training and culture across the first line; enhance the organization's risk knowledge and embed individual accountability.

Education

• Graduate qualifications with majors in Business, Finance, Economics, Risk Management or a related field.
• Professional operational risk certification (e.g. IOR Certificate / CORP), FRM or PRM.
• Conduct / compliance certification (e.g. ICA) an advantage.

Experiences

• 15+ years of relevant experience in operational risk and / or conduct risk within large international banking organizations or a consulting background.
• Proven leadership and experience in handling EXCO-level senior management.
• Strong hands-on experience in operational risk frameworks (RCSA, KRI, loss data, scenario analysis) and new product and process approval (NPPA), and in conduct risk / consumer protection within retail and wealth businesses.
• Strong experience in leading and executing regulatory change initiatives (including CBUAE Consumer Protection).

Knowledge & Skills

• Expert knowledge of retail and wealth products, channels and processes.
• Ability to present ideas, influence and achieve consensus with senior stakeholders and the first line.
• Experience of working in diverse, cross-cultural and multi-jurisdictional teams.

Behavioral Competencies

• Pragmatic, innovative and a quick learner with strong independent judgement.
• Team player with the ability to work in a multi-cultural environment.
• Strong communication, influencing and public speaking skills; able to challenge the first line constructively.

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