About the Role:
Oversees effective implementation of Operational Risk Management (ORM) Framework, Financial Consumer Protection Framework, Reputational Risk Governance Framework, Trust Risk Governance Framework for Operational Risk and Business Resiliency Plans across the Bank including subsidiaries (as applicable). Ensures timely and quality renewal of institutional wide insurance policies monitored by Risk Management Group (i.e. Comprehensive Crime Insurance a.k.a Banker's Blanker Bond (BBB), Directors and Officers (D&O), Cyber Insurance). Supports the Chief Risk Officer (CRO) to introduce and implement best practices on Operational Risk through appropriate tools thereby enabling the Bank to improve the risk and control awareness throughout the organization to, minimize operational losses and increase profitability and shareholder value.
Framework, Policies and Procedures
- Develops and maintains the Operational Risk Management Framework (ORMF). Contribute to the continual improvement of the framework to ensure its continuing relevance, comprehensiveness and effectiveness. b. Prepares and recommends for senior management and Risk Oversight Committee (ROC) approval, appropriate policies and procedures relating to operational risk and controls
Implementation of Operational Risk Management Tool
- Creates, implements and maintains the Operational Risk Management Policy for the identification, assessment, collection and analysis of risk/loss related information
- Develops 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
- Develops / Monitors tools for material operational risks such as Risk Control Self Assessments (RCSA), Key Risk Indicators (KRI) and Control Sample Testing (CST) for appropriate monitoring and reporting to Senior Management, ROC
- Oversees Business Resiliency in RCBC and Subsidiaries (RCBC Capital, RCBC Bankard, RCBC Leasing, RCBC Securities, RCBC Forex, Rizal Micro Bank) and ensures effective business continuity programs are in place and maintained as required by the regulatory agencies
Reviews and Analysis
- Reviews identified operational risks and controls across business lines and processes of the Bank
- Conducts root cause analysis for high risk areas and recommend control procedures and/or corrective actions, as necessary
- Develops, maintains and analyzes the operational loss database in line with the operational risk framework
Management Reporting
- Ensures 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
- Produces 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
Advisory:
- Provides 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.
Training and Awareness:
- Communicates the Bank's ORMF and strategies across the Bank and subsidisies
- Promotes awareness of operational risk in the
- Provides operational risk management training and advice to business units on operational risk management issues.
Leadership:
- Provides timely feedback /escalation to seniors as needed regarding developments on the ground as well as critical inputs regarding departmental strategies and goals.
- Provides leadership support and supervision on the activities and projects of the unit to ensure all SLAs and deliverables are met.
- Identifies critical succession within the unit and execute a development plan and stretch goals to bring identified successors up the learning curve
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 operations, principles and terminology banking products and services banking laws and compliance issues. Preferably certified by TIFP
- 10-15 years exposure to Banking Operations, Operational Risk or Audit function
- Expert ability in the risk assessment methodology, operations risk management and a good understanding of the banking regulatory requirements
