The incumbent will report locally to the Head of Risk, BOSWM MY. The incumbent shall oversee and strengthen the operational and business management, risk governance and framework for BOSWM MY. This is a managerial role with a broad and strategic mandate to help shape a growing operational and business risk function and seen as a true partner to the business. The incumbent will oversee and support the local risk team, local management and global risk committees (operational and business risks)
Roles and Resposibilities
- Lead the roll-out / localisation of the risk management policies, procedures, processes, methodology and initiatives, in alignment to Bank of Singapore Group, taking into consideration local regulations and requirements, while working closely with Head Office.
- Promote and deepen risk awareness by working with Business Partners and other relevant stakeholders, providing support and advisory on the application of the risk policies, procedures, processes, methodologies, providing training (where applicable) and fostering a culture of risk management within the organisation.
- Participate in risk committees and working groups to enhance governance and oversight over risk matters.
- Support the local Head of Risk in the following areas:
- Review and analyse risk performance metrics, develop insightful and actionable reporting across the funds, escalate significant incidents, key trends and queries for management’s attention including Head Office.
- Provide guidance to business units and local management on operational risk management programs* to enable business units to manage the relevant risks in a structured, systematic, and consistent manner.
- Provide guidance to business units and local management on complaint handling process. Collaborate with head office to implement update and changes to complaint handling procedures.
- Oversee the execution of surveillance reviews in line with regulatory and Head Office’s standards.
- Review and approve risk assessment or methodologies for initiatives/reviews.
*Note: The operational risk management programs include the following:
i) Self-Assessment Programs such as Risk and Control Assessment (RCSA)
ii) Key Risk Indicators (KRIs)
iii) Operational Risk Events management and reporting
iv) Outsourcing Risk Management
v) Technology, Information and Cyber Risk Assessments.
iv) Business Continuity Management
iiv) Physical Security Assessment
iiiv) Insurance Management
- A minimum of 8 years of relevant working experience in banks / funds / asset management with exposure to operational risk, audit, or operations, as well as business procedures development, monitoring and surveillance experience in a banking environment.
- Good understanding and knowledge of banking / wealth management products (including investments, equity securities, fixed income securities, derivatives, and mutual funds), processes (including risk modelling techniques), operations and regulations where applicable.
- Strong leadership and management capability.
- Able to exercise sound judgment and establish both strategic and tactical plans in the management of risk.
- Thrive in a fast-paced environment, able to adapt and multi-task to various demands in a diverse and competitive culture.
- Familiar with relevant rules and regulations, in particular those relating to local private banking / asset management business.
- Must possess excellent interpersonal skills and able to communicate and manage relationship with business, financial institutions, team members and other stakeholders
- Good analytical, report writing and project management skills.
Degree in Finance, Risk Management, Business Administration or any other related discipline