Operational Risk Senior Manager

Job Description

The purpose of the Operational Risk Senior Manager role is to oversee the first line-of-defense controls, help ensure risk and controls are effectively managed, strengthen the approach for risk team to deliver an independent, effective and reliable for operational risk.

The role focuses on Operational Risk, Technology Risk, Outsourcing Risk ensuring alignment with relevant policies, procedures and regulatory requirement

Outsourcing Risk:

• Evaluate material outsourcing risk, and perform due diligence on new and existing third party arrangement
• Develop, maintain and review outsourcing policies to ensure alignment with business scope, regulatory expectations and risk appetite.
• Ensure all outsourcing engagements meet minimum risk and compliance standards

Risk Monitoring & Control

• Oversee and maintain effective risks control across all material outsourcing arrangements at an enterprise wide level
• Ensure the implementation and testing of contingency plans are based on realistic and probable disruption scenarios
• Perform independent review and audits to verify compliance with outsourcing policies and procedures
• Ensuring appropriate and prompt remedial actions are taken to address any audit findings;
• Communicating timely updates to management on risk identified in material outsourcing arrangements.

Technology Risk Management Guidelines (TRMG):

• Assess the existing processes in our IT Operations, Projects and Security against Head Office Policies and Rules, Local IT Regulatory requirements and identify the key gaps, or the areas of non-compliance and report to the local management and Head Office, establish the further IT controls against the gaps and the non-compliance.
• Define and review required controls, objectives, checklists and procedures for effective risk management.
• Highlight key concerns to mitigate technology risk and conduct root cause analysis.
• Proactively identify and escalate any delays/ risks for timely resolution.
• Ensuring that appropriate and timely remedial actions are taken to address audit findings
• Foster a continual improvement culture with communication to stakeholders and guidance on risk & controls

Operational Risk:

• Risk Assessments:
  Conduct Risk & Control Self Assessments (RCSA) including initiatives for new procedures, the Annual RCSA Review and any ad-hoc Trigger Reviews.
• Conduct risk assessments performed for new business services and products.
• Risk Events:
  Manage Operational Risk Events for internal and external incidents and monitor related financial losses, formulate action plans with senior managements for solutions of root cause. Make sure the action plans are implemented on a timely manner.
• Ensuring that appropriate and timely remedial actions are taken to address audit findings

Policy Development and Review:

• Be responsible for the compliance in the MAS Guidelines, Notices, Circulars, or other news from MAS regarding to TRMG, Outsourcing, BCM, Environmental Risk, Internal Control, and Operational Risk Management. Ensure that our policies are in line with the regulatory requirement from Authorities and Head Office.
• Manage the regulatory deliverables required from the MAS, Head Office and our internal policies.
• Coordinate the regulatory requirement of authorities to Head Office and our business teams.

Job Requirements

• Minimum 5 - 8 years of experience in Banking industry
• Demonstrated expertise in risk framework, control assessments and regulatory compliance with a proven ability to drive risk strategy and governance across cross functional teams
• Deep knowledge of policies, processes, standards, rules and interpretations, guidance and controls and systems related to the financial industry.
• Solid experience conducting gap analyses, improvement plans, and advising management, Board members of key implications.
• Advanced analytical and problem-solving skills abilities, to prioritize and manage multiple tasks
• An excellent team player with strong inter-personal and communication skills to deal with a broad range of stakeholders.
• Strong in documentation and report writing skills
• Excellent written and verbal communication skills in English and Mandarin is an advantage. As this role requires email correspondence and prepare periodic reports for Singapore Branch and HQ in Taiwan.
• Passionate and keen interest in subject matter of operational risk management and risk culture.
• Positive attitude to change, constantly looking for better ways to get things done and to challenge status quo.
• Self-driven and able to balance creative and pragmatic approaches.
• Strong communication and facilitation skills; able to work with and influence stakeholders at all levels
• Proven ability to lead cross functional initiatives, influence without authority and foster strong risk aware culture across business units.