Operational Risk Officer (Risk / Operational Risk / Rgnl/Ctry OR / J479)

  • Competitive
  • Petaling Jaya, Malaysia
  • Permanent, Full time
  • Standard Chartered Bank Malaysia Berhad
  • 17 Feb 18 2018-02-17

Operational Risk Officer (Risk / Operational Risk / Rgnl/Ctry OR / J479)

Job Purpose:
- Assist the Senior Unit Operational Risk Manager in coordinating, driving and directing effective compliance with the prescribed operational risk management framework
- Support Senior Unit Operational Risk Manager in driving the implementation of effective controls to minimise / mitigate operational impact
- Continuous monitoring for effectiveness and efficiency of controls leading to effective management of Operational Risk.
- Drive the understanding and practice of Operational Risk within the Unit
- Suggest / Facilitate Implementation of controls within the business unit to meet all regulatory and internal requirements.
- Support Senior Unit Operational Risk Manager in implementation of OR policy guidelines , review of existing control checks/KCSAs and process reviews
- Support in smooth conduct of Unit Level Risk Committee Meetings.

Key Responsibilities:

Risk Reviews
- Execute risk / control reviews as per plans and in consultation with the Senior Unit Operational Risk Manager
- Track to closure, all actions and risks arising from the reviews
- Ensure that the affected Unit is sufficiently prepared for upcoming audits
- Review and advice Senior Unit Operational Risk Manager on the adequacy of management response to audit findings for the Unit
- Monitor and track progress and timely closure of audit findings
- Share thematic risk & audit findings across units.
- To ensure updation of all risk/loss related issues in EORP and escalation to Senior Unit Operational Risk Manager as applicable.
- Compliance with all applicable process procedures, guidelines, rules & regulations of company and Group Policies relating to Risk
- Ensure unit specifically complies with Group Money Laundering Prevention / Sanctions Policies and Procedures to the extent applicable and reports all suspicious transactions to the risk authorities and stakeholder groups.

Process Risk Analysis (PRA)
- Execute PRAs as initiated by Senior Unit Operational Risk Manager, to support efforts in reviewing process and control effectiveness and risk identification( in consulation with Process Ownership)
- Track to closure, all actions arising from PRAs
- In conjunction with guidelines in force , facilitate to design and propose control enhancements to Senior Unit Operational Risk Manager for consideration
- Ensure the Risk Register is updated and approved for the unit.

Risk Committee Meetings
- Facilitation of pack production for the unit risk committee meetings.
- Provide challenge to ensure robust compliance to OR policies and framework
- Submission of risk and control related details to functional risk forum within schedule and at the required quality
- Facilitate, Coordinate and consolidate operational risk and loss reporting of the unit for the reporting to the BORF, Senior Unit Operational Risk Manager and Business Unit Heads. Ensure data accuracy and completeness.

Root Cause Analysis (RCA)
- Assist the Unit Manager / Department Heads to complete the Root Cause Analysis (RCA) report for below events
o Audits rated "Failed" or "Improvement required" for Critical Processes
o Material negative regulatory findings for Critical Processes
o Single operational risk event where the gross financial loss is greater than USD 2m
o Single operational risk events where the actual or potential reputational impact is rated '4' or '5'

Management Information
- Ensure integrity of source and the processing of data to deliver accurate representation in management information.

Validation of Controls: Key Control Self Assessments (KCSA) or Control Sample Testing / Key Risk Indicators (KRI) & Key Control Indicators (KCI)
- Continuous monitoring of key controls. Validate sampling techniques, results and exceptions arising thereof
- Obtain, agree and track to closure of treatment plan from responsible parties
- Provide Senior Unit Operational Risk Manager periodical view of status and progress
- Contribute towards / Facilitate implementation of control measures and monitoring plans for compliance and operational risk management. Ensure effectiveness of controls for compliance monitoring and risk management.

Issue Management (records in EORP)
- Investigate, document and report risk events and treatment plans on EORP in conjunction with Unit Managers and keep them updated
- Ensure that issues are updated and approved on a timely manner.