Manager, PFS Operations Risk
Manage Personal Financial Services (PFS) Operational risks or as the first line of defense on operational risk function, focus on driving risk assurance and governance across the PFS business and operations functional streams. Provide supports to business units / product owners within PFS and responsible for the execution, control and continuous improvement of processes to support PFS business / function. Responsibilities
The details are described in below: - Risk Management
- Ensure 1st Line risk ownership: to assist each individual PFS business / function and support department own all risks in their business / function areas.
- Quality Assurance: to ensure the quality assurance of operational risk controls in all units across all processes in the corresponding business area.
- Monitoring and escalation: to work closely with respective PFS department for monitoring all processes in the corresponding area, and to escalate any issues and risks to the corresponding control function area and business heads.
- Competency and Effectiveness: to be fully competent in control measure skills and methodology in conducting sample testing, quality checking, and monitoring; to be effective in identifying control process gaps, timely escalation of identified issues or risks, and effective actions to mitigate within the accepted timeframe.
Risk Committee Meetings
- Review of SOP, before implementation, to provide independent assessment of operational risks and adequacy of risk mitigations for new variation of products and key processes.
- Work closely with respective PFS Departments for implementing effective risk management process of risk identification, assessment and measurement, acceptance and monitoring to reduce gross operational risk exposure to acceptable levels within the risk appetite.
- Review of audit preparation work done by respective PFS Departments.
- Validates adequate closure of audit findings by close follow up on rectification plan taken by the respective business units.
- Review and validate RCSA and control testing, results and exceptions arising thereof.
- Review trend analysis of exceptions and identify systemic failures, with respective PFS departments for taking necessary corrective actions.
- Identify material exceptions and escalate.
- Agree on actions arising from the corrective action plan.
- Escalates OR concerns and issues to Management for attention.
Operational Loss Management
- Perform analysis on various risks related subjects, support with data/information/incidents.
- Monitor and follow up on each action plan discussed and provide timely update.
- Prepare and review the RCGC deck, focus on risk & controls with supporting documents and escalate to respective business/function Head on any concerns for further actions.
Incident and System Management
- Work closely with respective business/function Head to monitor and report major OR loss incidents, the root causes, control lapse gaps and preventive measures taken.
- Highlight specific operational areas of concern for immediate and urgent mitigation action to be taken
- Prepare loss incident reporting and key risk indicators monitoring when required
- Investigate, document and report operational losses, other risk events and treatment plans in partnership with Unit/ Line Managers
- Facilitate timely reporting
- Oversee administration of Operational Risk Management Information System (ORMIS) within respective business / function department
- Provide support and assistance to ORMIS users within business / function department
Our Ideal Candidate Delivery Focused:
- Ad hoc tasks/projects as requested by Head, PFS Operational Risk / Head, PFS Compliance & Operational Risk
- Ability to work individually and independently to complete set tasks within agreed timeframes.
- Change management: Detailed and analytical with a mindset to challenge status quo.
- Risk Management and Control: The ability to identify, assess, monitor, control and coordinate mitigation of risks within the Operations function. Awareness of the wider Risk and Control environment and the challenges facing product, process and function heads. Familiarity with operational risk framework control and risk metrics. Product Knowledge: Strong understanding of the various functions within operations.
- Operations Risk Management: Strong understanding of risks associated with operational processing and common controls used within Operations to mitigate risks.
- Stakeholder Management: Capable individual with good interpersonal & networking skills. Good judgement on what to escalate and to whom.
- Communication: Clear and concise communicator capable of discussing risk and control issues with senior operations stakeholders. Ability to present metric information to highlight key messages to senior operations stakeholders.
Preferable 5 years of working experience in banking operations both branch and HO departments
Preferable 3 years of experience in operational risk management methodology and approach