AM/Manager - Operational Risk Management

Role Summary/Purpose

Job Purpose:

- Assist Enterprise Risk Manager (ERM) and collaborate with Functional Heads to implement an effective Operational Risk Management Framework (ORMF) within the Functions to ensure operational risks and controls are being managed appropriately at the Function level in a proactive, risk based and disciplined manner to meet external, internal and regulatory requirements.

- Assist the Functions in governance oversight over Product / business operational risk management from an end-to-

Key Responsibilities:

Implement & Monitor ORMF:

- Ensure adherence to the ORMF in the identification, assessment, mitigation, controlling and monitoring of risk.

- Ensure sufficient traction and follow through management actions to mitigate identified operational risks exposure.

- Ensure that relevant Business policies are effectively embedded within business unit. Facilitate the implementation of risk and control self-assessment (RCSA), related key risk indicators (KRI) and monitoring plans for operational risk management.

- Ensure losses, risk events & KRI exceptions, are recorded, reviewed and reported to ERMC.

- Engage with appropriate stakeholders to ensure timely remedial actions and escalation of situations that pose significant risk.

- Assist Functional Heads and ERM in the implementation of Operational Risk (OR) framework or other relevant OR initiatives.

- Participate in the investigation / review of operational risk exposure as it arises.

- Value-add to the business unit by identifying new, thematic and developing risks, providing operational risk advice through ORMF and ad hoc reviews (Accountability reviews, Lessons Learnt reviews, Process / Control reviews) at the unit level or participating in reviews driven by the Business level based on thematic issues using forward looking based approach.

Design and Setup:

- Assist in identifying risks in product process changes. Ensure that the operational risk implications of changes (Product Approval Document) are anticipated and clearly signaled to appropriate stakeholders.

- Escalate to appropriate stakeholders when operational risks threaten to breach tolerances.

Engaging the Business:

- To provide data and updates to the monthly ERMC meetings, to review and monitor OR Profile and exposure of the business unit.

Others:

- Coordinate training efforts to promote risk management culture within the Business unit.

- Ensure gaps are identified and staffs are suitably trained on operational risk.

- Ensure proper follow up of issues raised in ERMC.

Knowledge/Skills/Experience:

- University degree or above

- Operational risk management experience preferable

- Banking or financial industry experience preferable

- Excellent communication, stakeholder management and influential skills

- Ability to identify risks in the processes / project, come up with recommendation for result-oriented solutions