Head, FSS Operations Shared Services – Malaysia

A recruiter is seeking a Head, FSS Operations Shared Services – Malaysia

Job Summary

The role holder is accountable for end to end delivery FSS Reconciliations and governance globally covering all the streams of products maintenance of various operational risk related controls. Monitor the break levels in countries and hubs and ensuring ageing is within tolerance.

Collectively responsible and accountable for setting reconciliations operations strategy. Collectively responsible and accountable for the setting and governance of reconciliation frameworks for robust compliance and controls.

In partnership with FSS Transformation articulate a forward-looking view of FSS reconciliations enhancements and develop a platform consistent with the Bank’s and business’ strategic ambition.

Work with Country FSS leads to agree regional and local priorities, and resolve issues around the systems, and processes to ensure reconciliations enhancements are considered and prioritised into investment plans, remediation initiatives and any other process as appropriate

Key Responsibilities

Strategy

To lead and manage Governance and Reconciliations for FSS Operations

• Provide an effective centre point for Reconciliations as the first line of defence for Operations.
• Assuring an independent controls and governance model with segregation of duties providing the basic building block of sustainable risk management and internal controls for the business.
• Responsible for leading and supporting a change mindset, building a culture of client centricity, agility, and accountability through standardised metrics.
• Understanding of the systems, products, and workflows to ensure complete, accurate and timely reconciliations that is flexible and scalable with the right culture that holds everything together.
• Creation of MIS and business insight to drive commercial and business decisions.
• Leading the design and execution of operations reconciliations improvement framework, predominantly focused on establishing completeness, timelines, and measurement of controls.
• Driving continuous improvement and transformation of reconciliation through operational excellence.
• Oversee remediation of issues, and other day-to-day processing, ensuring timely escalation to minimise risk.
• Execution of automated workflows to deliver a low touch, transparent and genuine exception-based workflow.
• Driving optimal performance through enhancing our data capabilities.
• Setting clear direction for the team, building a zero-tolerance risk culture for reconciliations, and coaching the next generation of operations managers
• Managing a virtual team of professionals spread across multiple time zones covering global financial markets and supporting the FSS business with objective to transfer all processing roles to the hubs
  
  
  

Business

• Awareness and understanding of the wider FSS business, economic and market environment in which the Group Operates.
• Responsible for stakeholder engagement (e.g. FSS Sales, Country COO and FSS COO teams) and collaboration across FSS Ops Management Team, to ensure effective governance
  
  
  

Processes

• The FSS Reconciliations and Governance head is responsible for ensuring global reconciliations completeness, accuracy, and timeliness
• The FSS Reconciliations and Governance head is responsible to effectively control the FSS processes and activities that have been outsourced (e.g. to the GBS hubs). This includes capacity, capability, performance, and cost management.
• The Reconciliations and Governance head is responsible for the following activities within the FSS business: Reconciliations Standards, Compliance with regulations
• The Reconciliations and Governance head has oversight of the Reconciliations processes in countries
• Ensure the necessary Business Continuity Plans (BCPs) are in place across FSS and periodically tested in accordance with the Group’s Business Continuity framework
  
  
  

People & Talent

• Responsible for leading through example and building the appropriate culture and values. Sets appropriate tone and expectations for the team and work in collaboration with other operations teams.
• Responsible for continuously developing a team of strong subject matter expertise and risk managers.
• Responsible for driving training and communications to promote awareness and continuous learning for Reconciliations control and governance aspects.
• Responsible for ensuring the provision of ongoing training and development of people and ensure that holders of all critical functions are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
• Responsible for building a continuous improvement and innovation culture.
• Support a culture of diversity and inclusion to bring the best out of our people.
  
  
  

Risk Management

• Demonstrate an awareness and understanding of the risks and ensure reasonable steps are taken in managing them
• Represent reconciliations and governance at Regional/Country/Group-specific Business Operational Risk and Finance Forums providing commentary on key control failures, elevated residual risks, and control self-assessment failures
• Ensure risk remediation actions are agreed and assigned ownership within the FSS function
• Act quickly and decisively when any risk and control weakness become apparent and ensure they are addressed within an appropriate timeframe and escalated through the relevant committees in line with bank policy
• Ensure horizon scanning and emerging risks are being considered as part of risk assessments
• Proactive in seeking regular assurance that the FSS Operations Teams are performing to an acceptable risk and control standard including outsourced processes and activities within the GBS hubs
• Ensure Country/Group Residual Risk is completed to the appropriate scope, quality, and timelines
• Ensure any material issues are escalated directly to the Regional Head(s) of the FSS business in a timely manner when required
  
  
  

Governance

• Embed the Group’s values and code of conduct to ensure that adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations
• Actively participates as required in Regional and / or Group committee or working group meetings
• Reviews effective governance, oversight and controls in the business and, if necessary, respectfully challenges unsatisfactory arrangements and recommends changes
• Works with regulators in an open and co-operative manner
• Work closely with Audit and Operational Risk on validating Process Design, and demonstrating effective measurement of business processes
• Embed the Group’s values and code of conduct to ensure that adherence with the highest standards of ethics, and compliance with relevant policies, processes, and regulations among employee’s form part of the culture
  
  
  

Regulatory & Business Conduct

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across the Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
  
  
  

Key stakeholders

• FSS Global and Regional COOs,
• FSS Business Heads, Sales and Trading,
• Compliance, PC, TRM
• FSS Operations Heads,
• FSS MT
• FSS Ops MT
• Internal Audit
  
  
  

Other Responsibilities

• Responsible for developing a strong working relationship across all FM operations teams and locations.
• Responsibility to enhance the Group’s internal and external reputation and indirectly influence the bottom line.
• Responsible for promoting the Group’s brand and Here for good with employees, clients, and regulators.
• Responsible for performing other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
• Responsible for maintaining effective communication with key stakeholders, and staff
  
  
  

Qualifications

• Diverse experience of over 15 years in Banking and Financial Services industry.
• In depth exposure towards ensuring strong control environment and in developing standard operating procedures and risk framework towards making the business processes robust.
• Multitasking ability to sketch the plan, prioritize the work and manage complex projects under aggressive timelines.
• Strong understanding of operations Risk and Control framework and prior experience in managing Middle-Office, Confirmation, Settlements, and Reconciliation workflows.
• Strong understanding of financial market products including Foreign Exchange, Money Market, Commodities and Derivatives including understanding of end-to-end trade execution and trade lifecycle workflows.
• Experience in managing clients with strong ability to solve customer problems and concerns quickly and in the best interest of our clients.
• Proven track record for being an agent of delivery and change, challenging the status quo and processes in line with the Operations Strategic objectives.
• Strong demonstration of financial and budgetary discipline with experience in effectively managing headcount and cost.
• Ability to lead with a data driven mindset
• Experience of risk remediation and running change projects
• Ability to work independently in a fast-paced environment
• Ability to articulate complex issues concisely and communicate effectively
• Collaborative and creative problem solver, while being outcome focused
• Strong interpersonal and stakeholder management skills
• Strong analytical skills with an ability to understand complex workflows and excellent attention to details
• Comfortable working in a relatively unstructured and multi-cultural environment
  
  
  

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