Risk Specialist - Operational Risk Event Management and Quality Assurance (Associate Director)
At Bank of Singapore, we are constantly on the lookout for exceptional individuals to join our team. We promote a culture of openness, teamwork and fairness. Most importantly, we invest in our people through our programmes that develop them on both professional and personal levels. Besides attractive remuneration packages, we offer non-financial benefits and opportunities to develop your potential within OCBC Group’s global network of subsidiaries and offices. If you have passion, drive and the will to succeed, rise to the challenge today! General Description
Responsible for the overall second line of defence related to operational risk management, ensuring that operational risk within the organisation is appropriately identified, assessed and managed within the defined operational risk appetite. Main duties
- Strengthen operational risk management governance and framework by providing support in the below areas as a "champion":
- Review operational risk events submitted by business units and provide effective challenge on the adequacy of risk responses and action plans as well as assess if there are systemic/thematic risk concerns that warrant deeper analysis and escalation to management.
- Facilitate and ensure timely reporting of Operational Risk Events, Entity Operational Risk Indicators Dashboard at Group level, as well as accuracy and completeness of reporting in accordance with the Group's reporting and classification standards.
- Review Key Operational Risk Indicators (Key ORI) submission from business units and highlight any trends, issues or exceptions. Perform annual review of business units' Key ORIs to ensure that the Key ORIs remain relevant and effective. Facilitate the reporting of the Entity Operational Risk Indicators Dashboard at Group level.
- Support and coordinate the annual Insurance Management Programme for the Bank, working closely with Group OCBC.
- Facilitate the annual Internal Control Attestation exercise which reviews the current state of internal controls and the forward-looking views of new programmes and initiatives to further strengthen controls.
- Support annual Operational Risk Stress Test which assesses the adequacy of the internal capital against high severity operational risk scenarios, eg. terrorism, pandemic, etc.
- As a business partner, provide advisory and guidance to enable business unit assigned to manage operational risks in a structured, systematic, and consistent manner, in ORM areas including Risk & Control Self-Assessment (RCSA) programs, Operational Risk Events management and reporting, Key Operational Risk Indicators (Key ORIs) etc. Document and update operational risk policies and procedures and engage Group OCBC to ensure policies and processes are in alignment.
- Participate in various ORM initiatives/activities, thematic reviews, deep dives, etc.
- Participate in internal or cross-functional projects to achieve productivity/quality improvement which include user requirement specifications, user acceptance test and documentation of new procedures and training materials.
- Relevant working experience in Operational Risk Management in the banking environment.
- Good knowledge of banking products and operations preferred.
- Degree in finance / banking or related discipline preferred.
- At least 8 years of banking experience with exposure in various disciplines, preferably from Private Banking background and minimum 6 years of experience in Operational Risk Management.
- Proficient in Microsoft Office Applications (i.e. Excel, PowerPoint, Word).
- Knowledge of VBA, Python, or data visualisation tools preferred.
- Fluency in English is essential.
- Strong communication, presentation and interpersonal skills to facilitate interactions and able to maintain strong relationships with stakeholders.
- Able to exercise sound judgment and establish both strategic and tactical plans in the management of operational risk.
- Possess strong analytical, problem solving and report writing skills.
- Independent and able to multi-task in a competitive environment.
- High level of integrity.