• 2.7.5 Operational risk


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    Description of role

    Responsible for identifying and measuring operational risk, monitoring and reporting of loss resulting from inadequate or failed internal process, people, systems and management or from external events.

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    Core skills

    • Ability to understand and identify drivers of operational risk
    • Ability to develop, implement and maintain operational risk identification and measurement framework
    • Knowledge of operational risks, risk measurement tools like Risk Control Self-Assessment (RCSA) and Standard and Advanced Measurement Approach (AMA) to operational risk
    • Ability to perform scenario analysis, identify key risk indicators and operational risk capital modelling
    • Knowledge of operational risk mitigating tools and measures
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    Qualification and/ or certification

    • QFSQF Level 3
    • FRM / PRM or equivalent qualifications would be useful
    • Relevant experience

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    Industry knowledge

    • Knowledge of relevant Islamic banking products and services

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    Regulatory compliance of role

    • Knowledge of banking regulatory framework
    • Knowledge of regulatory requirements relevant to operational risk
    • Knowledge of Basel III