Operational Risk Management (Contract)
Our client, a reputable Global Bank is looking to hire an Operational Risk Management AVP into their team. This is a 9 months contract.
Overview of business area or project:
- Helping First Line of Defence in embedding and maintaining a robust culture which is the basis for a sustainable and compliant business.
- Maintain effective risk governance and control framework in full compliance with the bank policies and standards.
- Contribute to the development of Operational Risk and Compliance frameworks and policies, and implements the framework according to policies and standards of Second Line of Defence and defines/ owns specific business procedures.
- Help to promote visibility and understanding of bank policies and procedures, as needed.
- Contribute to identification, design, documentation and implementation of all relevant First Line of Defence controls, to manage identified risks within firm wide risk appetite. Help to review and lead adjustments exclusively of First Line of Defence controls whenever appropriate.
- Define and implement business risk metrics and thresholds, jointly with Second Line of Defence. Monitor and analyze business risk metrics, trends, breaches, defines business risk mitigation actions together with First Line of Defence and reports to the relevant risk committees.
- Facilitate definition of risk mitigation measures for First Line of Defence and oversees implementation of defined actions.
- Responsible for risk reporting from a First Line of Defence view, facilitates and prepares content for relevant risk committees and governance forums.
- Participate as a member or business delegate on various risk committees, as well as contributes to various regulatory, risk and compliance projects and can participate in various committees.
- Help to lead First Line of Defence driven risk projects.
- Plan, facilitate and document Risk and Control Self-Assessments (RCSAs); reviews and reports results to the relevant risk committees, as well as coordinates final sign-off by the relevant First Line of Defence committee.
- Actively supports the respective risk owner to establish mitigating actions, also monitors and reports status on mitigating action implementation to the relevant risk committee.
- First Line of Defence is responsible for tracking and reporting of regulatory, audit, Second Line of Defence identified and self-identified action items assigned to First Line of Defence
- Participating in internal/external audits and regulatory inquiries.
- Support the Head of First Line of Defence, Private Banking Asia Pacific (PB APAC) in all aspects of risk management activities within PB APAC.
- Review, control and monitor key business and operational activities and associated risks of PB APAC on a regional basis.
- Manage key stakeholders and local / regional management relationships as well as serve as an advisor to local and regional management in all areas of operational risk.
- Represent regional business risk management on risk issues with regional management or any risk policy committee as well as dealing with advisory and review of regional internal control issues as appropriate.
- Support staff on PB APAC Front Office supervisory framework and reviews conducted by Regulators/ Audit/ Second Line of Defence teams.
- Pro-active tracking of open Issues and Actions (arising from reviews) to ensure early escalation to senior management.
- Conduct regular quality assurance reviews over supervisory controls and audit points as necessary.
- Prepare, drive and consolidate regional risk reporting and associated analysis commentary. Where appropriate, review and recommend appropriate risk indicators and/or triggers.
- Pro-actively identify and assess key operational and business risks across PB APAC and where relevant, recommend innovative solutions to manage, mitigate and monitor these identified key risks.
- Ad hoc / special projects and implementation of all business risk related tasks / projects.
Essentials Skills and Qualifications:
Minimum 10 years of relevant working experience in financial institution - Strong preference for persons with at least 5 years' experience working in private banking front office risk and control units, internal audit function.
Ability to communicate effectively through presentation and individual discussions with all levels, including attitude to establish and maintain positive working relationships with all management and personnel
Strong organizational and project management skills needed to handle the coordination of multiple priorities
Independent judgment with strong analytical and risk assessment skills
Desired Skills and Qualifications:
Some working knowledge of regulations in the APAC region is expected
Strong knowledge of APAC private banking risks environment and relevant controls would be an advantage
Ability to grasp risk / control concepts quickly
Due to the nature of the role, only Singaporeans or Singapore PRs will be considered for the role.
If you are interested in this position, please apply today or email Constance Cho email@example.com
Morgan McKinley Pte Ltd
EA License - 11C5502
Reg No - R1876688