The Risk and Prevention - Operations Risk Team drives the Operational Risk Culture and facilitates the implementation and on-going monitoring of adherence to the OCBC Group Policies & Procedures and regulatory requirements, enabling effective and efficient risk identification, assessment, mitigation, measurement, monitoring and reporting of key operational risks for the Group Operations and Technology Division (GO&T) across the region.
The job consists of enabling the business by transforming operational risk management, embedding risk culture and providing data-driven insights to manage operational risk in a sustainable way.
The Operational Risk AVP is responsible for providing objective review and challenge to the business units to ensure operational risk and regulatory risk are effectively managed within the Division.
JOB DUTIES & RESPONSIBILITIES
Regulatory Compliance:
- Alternate Division Compliance Officer, with the responsibility to understand and communicate the requirements from Group Regulatory Compliance and Data Protection Office to the Division, drive regulatory compliance review to ensure Division operationally ready for any new / updated regulations that impacts the Division.
- Review and perform trend analysis on regulatory breaches to identify common pitfalls that resulted in regulatory and driving sustainable and effective controls to prevent recurrence.
- Centrally manage and coordinate regulatory submission / responses to regulators for the Division.
- Alternate Division Personal Data Protection Rep, working with the Group Data Protection Office closely to facilitate the Division compliance to PDPA, GDPR etc. Provide advice and support to stakeholders on data protection and privacy matters, as a Subject Matter Expert.
Operational Risk:
- Provide advice, objective review and challenge to operational risk issues/ process changes identified by business units to ensure operational risk identified is assessed adequately, and appropriate controls are in place to mitigate the risks.
- Review and discuss Operational Risk Events/ Audit Observations with stakeholders to ensure right root cause identified and appropriate action plan are implemented.
- Conduct risk reviews to identify control gaps and control enhancement opportunities.
- “Connect the dots” across the Division in the identification of emerging risks and issues – especially those that are applicable across various departments/ jurisdiction that can be effectively remediated using a common control/ solution
- Conduct Division wide Operational Risk related trainings
- Independently undertake risk and control related projects/ initiatives
REQUIREMENTS (Experience/ Knowledge/ Skills)
Required Experience:
1. University degree in banking with 10+ years of experience in Operations / first line operational risk management supporting Operations
2. Strong understanding of Operations end-to-end processes, with ability to identify risks and control inadequacies within the processes.
3. Candidates with PDPA/ regulatory risk/ compliance background will be advantageous
Core Competencies
1. A self-motivated individual that demonstrates initiatives and results oriented
2. Proven ability to multi-task, as well as assess and change priorities
3. Attention to detail and strong analytical skills
4. Positive attitude to change, constantly looking for better ways to get things done and to challenge the status quo
5. Forward-thinking and interested in keeping up to date with developments and best practices in the risk & analytics industry
6. Team player with good written and communication skills to liaise effectively with people at all levels.
REPORTING TO: ED, Risk & Prevention – Operations Risk
