Description:
- Develop, maintain and implement Operational Risk practices, policies, framework, governance and reporting mechanisms in the organisation;
- Support first line of defence (1LOD) in identification, assessment and reporting of inherent and residual risks faced in the respective process;
- Facilitating 1LOD to establish controls, testing of design & effectiveness of these controls while providing an independent opinion and recommendations for improvements;
- Assist and train 1LOD to utilize ORM tools & techniques for identification and assessment of risks and ensure reporting mechanism in place.
- Investigate and follow-up on reported operational risk incidents including root cause, mitigation, impact, and respective action plan.
- Maintain & update operational risk incident database including necessary data & information with respect to line of business, stakeholders, due date, and closure status.
- Review and provide inputs and advisory on standard operating procedures (SOPs) for all lines of business with a perspective on operational risks.
- Engage 1LOD for building risk registers, corresponding controls and assigning ownership on implementation of controls & their testing.
- Assist and facilitate 1LOD for conducting self-assessments on risks faced in their respective process to arrive at inherent and residual risk ratings while maintain capability of controls.
- Engage and collaborate with relevant stakeholders for management of third-party risks and fraud risk as required;
- Conduct regular trainings and sessions for 1LOD and other stakeholders including new joiners, business managers to increase risk awareness.
- Gain broad understanding of other risk areas such as Credit Risk, Market Risk, Liquidity Risk, Information Security, Reputational Risk among other financial and non-financial risks.
- Support management in implementation of regulatory guidelines released from time to time
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