Job Opportunity: Senior Manager Operational Risk I at Tanzania Commercial Bank

Overview

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.

Job Details

• Position: Senior Manager Operational Risk I
• Rank: Principal Operational Risk Management Officer I
• Department: Risk Management and Compliance
• Section: Risk Management
• Salary Scale: COBSS 9 (Principal Level I)
• Reports to: Chief Manager Risk Management
• Location: Dar es Salaam
• Application Deadline: August 17, 2025

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.

Key Responsibilities

• 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.

Qualifications, Skills, and Experience

• Master’s degree in Banking, Economics, Commerce, Business Administration (majoring in Accounting or Finance), Risk Management, Actuarial Sciences, Insurance, Statistics, or Banking from a recognized university or equivalent qualifications.
• Minimum of 16 years’ working experience in a related field.
• Strong leadership and people management skills.
• Extensive knowledge of risk, risk systems, and industry regulations.
• Expertise in the concepts, principles, and practices of operational risk.
• Strong analytical and problem-solving skills.
• Excellent communication and interpersonal skills.
• Ability to work independently and as part of a team.
• Proficiency in risk assessment methodologies and tools.
• Knowledge of relevant regulations and compliance requirements.
• Experience in developing and implementing risk management frameworks.
• Strong organizational and time-management skills.
• Experience in the financial industry is preferred.

Personal Attributes and Behavioral Competencies

• Demonstrates Tanzania Commercial Bank core values: Customer Focus, Trustworthy, Creativity, Teamwork, and Excellence.
• Ability to prioritize work and meet deadlines.
• Capable of implementing projects/programs according to set objectives and timelines across a wide business platform.
• Exhibits sound judgment, common sense, and good humor.
• Strong leadership and people management skills.
• Strong business acumen with the ability to grow business.
• Ability to build effective relationships with all stakeholders.
• Self-driven with a results-oriented mindset.
• Effective data analysis skills.
• Produces efficient and high-quality audit reports.