Assistant Manager - Service and Controls

RAKBANK, also known as the National Bank of Ras Al-Khaimah, is a Public Joint Stock Company based in the United Arab Emirates (UAE). It was founded in 1976 and is one of the oldest banks in the UAE. The Bank operates within retail and corporate banking, offering a range of services including personal and business banking, credit cards, loans, investment services, and wealth management.

In the recent years, the Bank has achieved significant milestones which includes being named as one of the world's best banks by Forbes ME (2022) and was awarded UAE's SME Bank of the year by the Asian Banking and Finance Awards. The Bank has been successful in achieving the highest profitability and lowest cost of risk since 2015. It has also seen significant growth in its acquiring business, card spending, and business loans.

Being on a transformational journey, in partnership with Honeywell, RAKBANK has also taken steps towards sustainability by reducing its overall energy consumption.

We are a diverse team comprising of over 3,000 employees from across 58 countries. We make conscious efforts to build talented and diversified teams and encourage people to develop their full potential. We are committed to providing a working environment that promotes work-life balance, career development, recognition and security for the future.

In line with our strategy, a major part of our transformation journey is to future proof our bank and establish ourselves as a ‘Digital bank with human touch’, for our customers.

So join us in co-creating the future of RAKBANK!

What You Will Be Doing

• You will be responsible for conducting an independent controls and risk based review of all customer fulfillment departments.
• You will also independently conduct on the ground reviews to ensure that all agreed risk mitigants are being adhered to.
• Undertake periodic review of operations units to identify key risk indicators (KRI) across products, policies and functions and to list out interim and final mitigants including automation opportunities.
• Periodic follow up reviews to ensure risks highlighted earlier have been mitigated / eliminated and no new risks in the existing processes.
• Validate existing processes to ensure there are adequate controls in processes by way of sample check of processed instructions to ensure adherence to OP, review of MIS extracted by the unit and review of exception reports and action taken.
• Escalate to Senior Manager / Head if risks highlighted have not been mitigated by the unit as per the agreed dates.
• Follow up on closure of audit ROFs and escalate non closures to Senior Manager / Head
• Review process changes undertaken by operations unit to ensure KRIs is identified and that there are adequate controls in to-be processes.

What You Should Have

• University degree from a well-reputed institution in Finance, Economics, or equivalent
• Minimum 5 years’ experience in Banking operations, preferably expertise in risk and controls
• Good knowledge of relevant policies, practices, processes, and procedures

What We Are Looking For

• Excellent presentation and oral/written communication skills
• Attention to detail
• Innovation and problem solving
• Planning and control

What’s In It For You

• Pay for performance culture (Competitive and performance-linked compensation)
• Provision of medical care plan for your family and you
• Comprehensive Life insurance plan
• Diverse workforce and inclusive culture
• Career development and growth opportunities by design
• Work with the best minds in the field
• Get opportunities to bring your whole-self to the organization and perform to your best