As a Risk Analyst at Al Baraka Bank, you'll play a key role in identifying and managing risks that affect the bank. You'll work closely with various teams to ensure compliance with regulations and enhance risk management practices, particularly in Islamic banking.
Professional and focused on compliance and risk management.
**Risk Management** * Identifies Key Risk Indicators (KRI) and tolerance levels, where appropriate in respect of major risks facing the bank through workshops and meetings with Risk Owners * Records and maintains the risk register for Risk events and risk indicators, with an analysis and prioritise actions to mitigate associated risks. * Ensures that Risk Management Programmes are maintained and up to date with current developments and trends within the industry and in keeping with Group policies and that they are appropriate for the bank. * Develop and enhance the risk management framework, policies, and procedures specific to Islamic banking to effectively identify, assess, and mitigate risks. * Monitor and analyse internal and external risk factors * Assist to ensure compliance with regulatory requirements related to risk management and Islamic banking principles. * Implement risk management tools and systems to facilitate risk identification, measurement, and reporting. * Specific focus on credit, capital, liquidity, and operational risk management. Other risk areas must be also considered especially in terms of its impact on the Bank. * To use robotics and artificial intelligence where possible to improve risk reporting. **Annual Risk Functional Plan:** * Assist to develop objectives for the plan * Completing risk monitoring and reporting and ensuring clarification of risk measurement based on impact and probability are recorded appropriately. * Escalating risk matters requiring attention and making appropriate recommendation to mitigate risks, where appropriate to the risk manager * Implement the annual functional plan for the risk management department, aligning objectives with the organization’s strategic goals. * Assisting in setting key performance indicators (KPIs) and targets to measure the effectiveness and efficiency of risk management initiatives. **Regulatory:** * Identify and comply with regulatory requirements pertaining specifically to risk management such as the implementation and continuous embedment of Risk Data Aggregation and Risk Reporting (RDARR). * Maintain an updated ICAAP that considers the major risks facing the Bank and capital required to manage. * Identify any other regulatory requirements that may require risk management assistance such as Recovery Plan, Cyber resilience, Business Continuity etc. * Assist to implement ABG (Albaraka Group) recommendations on credit, liquidity, and other risk areas where necessary. **Strategy:** * Contribute to the regular review and execution of the organization's risk appetite and risk tolerance framework. * Assist with managing and reporting of the Banks development and implementation of the Strategic plan. **Internal Controls and Insurance:** * Assist to ensure the maintenance of robust internal control mechanisms to mitigate risks and comply with regulatory requirements. * Collaborate with relevant departments to assess insurance needs, ensuring adequate coverage for...
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