Operational Risk Officer – Banking Institution – Nicosia, Cyprus 155 views

Job Overview

The Client: 

On behalf of our Client, a Banking Institution in Nicosia, we are seeking to recruit a professional for the position of Operational Risk Officer.


The Position: 

The Operational Risk Officer will be responsible for the measurement, monitoring and management of significant operational risks inherent in the Bank’s activities by using appropriate systems/methods for risk measurement and monitoring.


Duties and Responsibilities: 

  • Identification, resolution and timely reporting of operational risk events.
  • Coordination of the Risk and Control Self-Assessment (RCSA) exercises with the various departments/units of the Bank for the identification of high-risk areas and the preparation of action plans for the mitigation of the risks identified.
  • Implementation, maintenance, monitoring and reporting of an appropriate set of Key Risk Indicators (KRIs) measuring the Operational Risk exposure of the Bank.
  • Coordinating the annual operational risk scenarios exercise which is used for the internal capital assessment process (“ICAAP”).
  • Participate in collaboration with other units of the Bank in the process for the annual risk assessment of the Bank’s outsourcing agreements or the assessment of new outsourcing agreements.
  • Introduction of the operational risk processes and tools within the Bank and supporting the departments/units in applying them.
  • Implementation of important initiatives aim at fostering a proactive operational risk management and promoting a sound operational risk culture across the Bank.
  • Preparation of regular /ad-hoc operational risk reports for distribution to the Operational Risk, Executive, Risk, and Audit Committees of the Bank as well as to the regulatory authorities if and when needed.
  • Ensuring that existing policies and procedures comply with the relevant regulations and directives issued by the regulatory authorities relating to operational risk management.


Skills/ Qualifications/ Experience: 

  • Bachelor’s degree in Economics/ Finance/ Banking or similar.
  • Master’s degree in Risk Management / Finance/ Economics or similar or a professional qualification in risk management or finance will be considered an advantage.
  • Minimum 3 years of recent experience in a bank’s or investment firm’s Risk Management Function or in auditing / consulting. Specialization in Operational Risk Management would be considered an advantage. Candidates with solid front line experience in banks are also welcome to apply.
  • Sufficient knowledge of regulatory framework for banks in relation to the management of operational risks is desirable.
  • Proficiency in various processes/ tools/ systems relevant to operational risk will be considered an advantage.
  • Strong quantitative and data analytical skills.
  • High level of attention to detail and accuracy.
  • Excellent organizational and time management skills.
  • Ability to work under pressure and meet tight deadlines.
  • Ability to work in a team.
  • Good personality with a friendly and professional attitude.
  • Ability to communicate efficiently and effectively with various audiences.
  • Excellent knowledge of English and Greek.



The position is for the Client’s offices in Nicosia, Cyprus.



An attractive remuneration package will be offered to the successful candidate based to qualifications and experience.



Applications Deadline: 9th of December 2022

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