Job Summary:
- Ensure implementation of Operational Risk Management (ORM) Framework across the Bank including subsidiaries (as applicable)
- Develop an appropriate operational risk management environment where the operational risks are identified assessed, reported, monitored and controlled/ mitigated.
- Identify and recommend mitigants for emerging risk types.
- Promote and maintain a quality operational risk programs and infrastructure.
- Support the Head of Operational Risk Management Division (ORMD) to introduce and implement best practices on Operational Risk Management (ORM) through appropriate ORM tools thereby enabling the Bank to improve the risk and control awareness throughout the organization, minimize operational losses and increase profitability and shareholder value.
How will you contribute:
- Framework, Policies and Procedures:
- Develop and maintain the Operational Risk Management Framework (ORMF) and Procedures Manual (ORPM). Contribute to the continual improvement of the framework to ensure its continuing relevance, comprehensiveness and effectiveness.
- Prepare and recommend for senior management and Risk Oversight Committee (ROC) approval, appropriate policies and procedures relating to operational risk and controls.
- Implementation of Operational Risk Management Tools:
- Create and implement the ORMF and ORPM for the identification, assessment, collection and analysis of risk/loss related information.
- Develop methodologies / tools and collection of data intended to manage, measure, monitor and mitigate operational risk. Facilitate the process of identifying, assessing and prioritizing operational risks by different business units of the bank and collating / reporting of loss events.
- Review identified operational risks and controls across business lines and processes of the Bank.
- Ensure integrity of databases for operational risks and losses to serve as early warning for emerging risks and/or bases for predicting future operational losses, if not properly corrected/prevented.
- Produce an operational risk reporting for the Risk Oversight Committee. Consolidate all relevant operational risk information/reports to be elevated and/or presented to Senior Management, Risk Oversight Committee (ROC) and/or Board of Directors (BOD) as applicable.
- Provide support to business units in their resolution of risk/loss issues, and input in the review (and updating) of Bank's policies, new initiatives, business change and practices on operational risk aspect.
- Communicate the Bank's ORMF and strategies across the Bank and subsidiaries
- Promote awareness of Operational Risk in the Bank.
- Provide operational risk management training and advice to business units on operational risk management issues
What will make you successful:
- College degree related to Business Management, Finance
- In-Depth Knowledge of risk assessment techniques, methodology and its application in banking operations, banking products and services, banking laws and compliance
- 5 to 10 years exposure to Banking Operations, Operational Risk or Audit function
