Senior Manager Operational Risk I at TCB Bank

Tanzania Commercial Bank is dedicated to providing competitive financial services and creating value for stakeholders through innovative products, with a vision to be the leading bank in Tanzania for affordable, accessible, and convenient financial services. The bank prioritizes organizational development and effective human capital management by attracting, retaining, and developing a highly capable and qualified workforce to advance its goals and contribute to the nation.

Position Objective

• Ensure the bank complies with the Banks and Financial Institutions Regulations, the Bank and Financial Institutions Act, and minimizes operational and financial risks.
• Ensure the bank’s policies, processes, and procedures align with business and Board of Directors’ risk appetite, are fully implemented, and adhered to by all incumbents.

• Develop and implement the Risk Management framework.
• Develop a risk assessment and measurement system.
• Identify current and emerging operational risks in the bank’s daily operations.
• Monitor potential risks continuously and brief on situations requiring prompt action.
• Develop risk tolerance limits for management and board approval, with periodic reviews.
• Evaluate the impact of changes in legislation and company policies on operational risk.
• Monitor positions against approved risk tolerance limits.
• Coordinate the development and review of policies to address the bank’s risk exposure for board approval.
• Develop risk alerts for risk identification across all business units.
• Monitor market, economic, and financial trends, both within and outside the bank, and advise management on minimizing risk exposure.
• Coordinate the development of risk monitoring and control measures in all business units.
• Develop and implement operational risk management policies and procedures.
• Conduct regular risk assessments across different business units and operations.
• Collaborate with internal departments to identify and mitigate risks.
• Identify potential risks related to processes, projects, and new initiatives.
• Develop and implement strategies to prevent, mitigate, and eliminate operational risks.
• Monitor and report on Key Risk Indicators (KRIs).
• Investigate operational incidents and near misses.
• Ensure compliance with regulatory requirements in internal controls.
• Promote a culture of risk awareness throughout the organization.
• Support internal and external audits related to operational risk.
• Analyze risks associated with new products, processes, and systems to assess the bank’s ability to manage them and provide guidance to minimize exposure.
• Prepare periodical risk reports to guide management in understanding the bank’s risk exposure for strategic interventions.
• Conduct research and due diligence on other banks’ and financial institutions’ operational risk management to ensure TCB remains competitive.
• Conduct periodic reviews to assess compliance with bank policies, procedures, and tolerance limits, reporting findings.
• Create awareness among staff on risk management practices and arrange training for improved performance.
• Mitigate, implement, and embed controls to address audit findings related to operational risk within allowed timeframes.
• Analyze the effectiveness of processes and systems in user departments and recommend improvements.
• Set Key Performance Indicators (KPIs) for direct reports and conduct semi-annual and annual reviews.
• Ensure timely, accurate, and reliable data for risk reports, regulatory returns, and board presentations.
• Perform other related duties as assigned by the supervisor.

Submit applications via the following link: https://www.tcbbank.co.tz/careers