Operational Risk Management - Junior Risk Officer (Assistant Manager to Senior Manager)

General Description:

The Operational Risk Officer shall assist in:

§ Development and maintenance of the Bank's operational risk management framework.

§ Implementation of the Bank's operational risk management policies and procedures in all levels of the organization.

§ Coordinate with Business Units to ensure that operational risk exposures are appropriately addressed and managed in line with the Bank's approved operational risk management framework.

§ Assist Business Units in identifying, measuring, monitoring and reporting of operational or other non-financial risks

Minimum Job Specifications:

Educational Requirement:

§ Graduate of a 4-year business course or equivalent.

Experience:

§ Must have at least five years of experience in operational risk management in the banking industry; with adequate knowledge in bank products and services

§ Experience in ORM tools and control processes i.e. Incident Reporting, RCSA, KRI, Loss Data Collection, review of policies, procedures and internal controls

§ Ability to identify gaps in internal controls and procedures; and opportunities to improve the risk management framework

§ Ability to make sound judgment; and articulate and stand firm on opinions, ideas and risk management concepts; and independently analyze processes or issues

§ Strong oral and written communication skills; and work closely with management, business units and other oversight teams

Overall

Scope of work:

1.     Participate in the design and maintenance the bank's Operational Risk Management Framework; including formulation of risk measurement methodologies, policies and procedures related to the management of operational risk and other non-financial risks.

2.     Assists in the implementation of the key operational risk management activities (i.e. incident reporting, internal loss data recording, Risk and Control Self-Assessment, Key Risk Indicators, Stress/Scenario Testing, and conduct relevant training).

3.     Participate in the regularization and monitoring of concerns and issues on the bank's operational risk management framework that may be noted in internal and external examinations; in coordination with Compliance Division.

4.     Consolidate relevant operational risk information to be presented to the RMOC/Board.

5.     Participate in the review of the Bank's policies and procedures; including new products, services and related activities.

6.     Assists in identifying, measuring, monitoring and reporting of other risks such as legal, reputational and compliance risks.

7.     Assists business units in the identification, measurement, control, monitoring and reporting of operational risks; and provide advisory service on operational risk issues or support in implementing operational risk management activities.

8.     Performs independent backtesting of Market Risk Value at Risk (VAR), when warranted

9.     Executes other duties and functions that may be assigned or delegated from time to time

Competencies Required

§ Analytical Thinking - ability to analyze and evaluate critical operational risk issues

§ Organization – be able to develop objectives and prioritize action plans

§ Policy Development – ability to create and enhance risk management policies and procedures

§ Collaborative Working - be able to work with different business units on resolutions

§ Effective Facilitation - ability to conduct risk awareness training programs

§ Leadership – ability to establish team effort that promotes working towards a common objective

§ Decision Making – ability to make sound decisions and be firm on and accountable for it

§ Communication – be able to understand arguments and negotiate with the best interest of the bank in view

§ Planning and Innovation - ability to develop or enhance ideas, risk management tools and methodologies

§ Curiosity and Skepticism - be able to listen carefully and objectively

Skills Required:

§ Capability of engaging multiple initiatives simultaneously

§ Must be open to ideas; an out of the box thinker; aware of industry practices and developments

§ Strong verbal and written communication skills

§ Ability to make an objective and balanced risk and reward approach

§ Knowledge in BSP and other regulatory rules and regulations

§ Knowledge in common banking industry policies and practices

§ Knowledgeable in banking business activities and operations