What Jobs are available for Operational Risk in Bahrain?

Key Responsibilities

• Maintaining and enhancing all aspects of the operational risk management framework for the identification, assessment, management, monitoring and reporting of operational risk.
• Ensuring that the operational risk management framework is aligned to regulatory expectations and industry best practice and operates effectively.
• Managing Operational loss data from various business units, ensure loss data is reconciled with Finance department and report the details while Operational risk reporting.
• Developing appropriate management information to enable the monitoring and reporting of operational risk in the operating business and presenting this to relevant boards and management committees.
• Assist Process Owners in identifying areas of operational risk in their respective areas and agree on mitigating actions.
• Ensure incidents get reported, analysed , reported and corrective actions are followed up and remediated in timely manner.
• Ensure RCSA exercise is performed as per annual plan and review the adequacy and efficacies of KRIs for each department.
• Maintain the Bank's Operational Risk Management Framework as well as the risk management discipline by using both qualitative and quantitative approaches.
• Provides all required support for the administration of all related governance forums
• Coordinate for Operational Risk Management Committee meeting and ensure comprehensive reporting is done and management attention is drawn towards material actions and support required.
• Ensure Policy, procedures and templates for Operational Risk are regularly updated to be aligned with the regulatory guidelines.
• Review and perform the Root Cause Analysis for medium and high-risk incidents
• Align Operational risk practice with the Group practices and adhere to the Service Level Agreement between group and BisB.
• Ensure OpR awareness session is conducted from time to time for various departments and teams at the bank

People Management

• Develop appropriate training activities and transfer of best practice to upgrade skills.
• Manage, motivate, and train staff to ensure performance is optimized.
• Provide leadership, coaching and support through participating in the setting of objectives, managing performance and identifying development needs.

• Develop and implement comprehensive financial risk management frameworks and policies.
• Oversee the identification, measurement, and monitoring of financial risks across the organization.
• Lead stress testing and scenario analysis to assess the impact of adverse market conditions.
• Ensure compliance with all relevant financial regulations and reporting requirements.
• Manage relationships with regulatory bodies and external auditors.
• Develop and implement risk mitigation strategies, including hedging and capital allocation.
• Provide strategic guidance and thought leadership on financial risk issues to senior management.
• Build and mentor a high-performing risk management team.
• Stay abreast of evolving financial markets, economic trends, and regulatory changes.
• Utilize advanced analytics and quantitative methods for risk assessment.
• Communicate complex risk information clearly and concisely to diverse audiences.

• Master's degree in Finance, Economics, Mathematics, or a related quantitative field.
• 10+ years of experience in financial risk management within the banking or financial services sector.
• Proven experience in managing market, credit, liquidity, and operational risks.
• Strong knowledge of financial regulations (e.g., Basel III, Dodd-Frank).
• Expertise in financial modeling, quantitative analysis, and risk management software.
• Excellent leadership, strategic thinking, and decision-making abilities.
• Exceptional communication and interpersonal skills, with the ability to influence at all levels.
• Professional certifications such as FRM, CFA, or PRM are highly desirable.
• Demonstrated ability to thrive in a remote, international work environment.

• Develop and implement comprehensive financial risk management strategies and policies.
• Oversee the identification, assessment, and mitigation of market, credit, liquidity, and operational risks.
• Lead and mentor the financial risk management team.
• Conduct regular risk assessments, stress testing, and scenario analysis.
• Ensure compliance with all relevant financial regulations and reporting requirements.
• Advise senior management and the board on risk-related matters.
• Foster a strong risk-aware culture throughout the organization.

• Develop, validate, and implement quantitative models for market risk, credit risk, and operational risk.
• Design and backtest trading strategies and hedging instruments.
• Perform complex statistical analysis, time series analysis, and financial modeling.
• Utilize programming languages such as Python, R, C++, or MATLAB for model development and implementation.
• Collaborate with traders, portfolio managers, and risk officers to understand their needs and provide quantitative solutions.
• Conduct research on new methodologies and technologies to enhance risk management capabilities.
• Prepare detailed documentation of models, methodologies, and results.
• Present complex quantitative findings to both technical and non-technical audiences.
• Ensure compliance with regulatory requirements and internal policies.
• Contribute to the development and enhancement of risk reporting frameworks.
• Identify and assess potential financial risks and propose mitigation strategies.
• Stay current with academic research and industry trends in quantitative finance and risk management.
• Mentor junior quantitative analysts and contribute to team knowledge sharing.

• Advanced degree (Master's or Ph.D.) in a quantitative field such as Mathematics, Statistics, Physics, Economics, Financial Engineering, or a related discipline.
• Minimum of 7 years of experience in quantitative analysis, risk management, or a related role within the financial services industry.
• Strong programming skills in at least one of Python, R, C++, or MATLAB.
• In-depth knowledge of financial markets, derivatives, and investment products.
• Expertise in statistical modeling, econometrics, machine learning, and numerical methods.
• Experience with risk management frameworks (e.g., VaR, stress testing, scenario analysis).
• Excellent analytical, problem-solving, and critical thinking skills.
• Strong communication and presentation skills, with the ability to explain complex concepts clearly.
• Proven ability to work independently and manage multiple projects simultaneously in a remote environment.
• Familiarity with financial databases and software (e.g., Bloomberg, Refinitiv).