Senior Manager, Operational Risk Management

Job Summary:

Responsible for the Operational Risk Management (ORM) function and for the execution of MBSB Bank's risk management framework, encompassing the identifying, measuring, monitoring, controlling or mitigating and reporting of risk exposures.

Key Responsibilities:

• Identify, assess and evaluate operational risk to enable the execution of the enterprise risk management strategy
• Identify potential threats and vulnerabilities for business processes, associated data and supporting capabilities to assist in the evaluation of enterprise risk
• Facilitate Risk Control Self-Assessment (RCSA) exercise by Business Units
• To assist in collection of Bank-wide Key Risk Indicators (KRIs), KRIs and Loss Event Reporting
• Review new/revised procedure, policy, framework, product prior submission to Management
• Provide independent risk assessment on the appointment/ renewal of service provider and performance review for outsourcing arrangement
• Review operational risk responses with the relevant stakeholders for validation of efficiency, effectiveness and monitoring
• Monitor risk and communicate information to the relevant stakeholders to ensure the continued effectiveness of the enterprise’s risk management strategy
• Ensure that Operational Risk Management and Outsourcing policies and procedures are compliant with internal/ regulatory requirements
• Identify and report on operational risk, including compliance to initiate corrective action and meet business and regulatory requirements
• Collect information and review documentation to identify control deficiencies
• Develop operational risk management awareness program and conduct training to ensure that stakeholders understand risk and contribute to the risk management process and to promote a risk awareness culture
• Timely reporting to Senior Management and the Board (include Board Committees) as appropriate on all operational risk related matters, including but not limited to proposing priority risk-mitigation actions
• Facilities operational risk assessment and monitor the capabilities around managing the priority risks across the Bank
• Ensure that an internal controls system which is effective in design and operation is in place to address all major risks
• Any other tasks may be assigned by Head of Operational Risk or CRO from time to time

Qualifications

• Minimum Bachelor’s Degree in Business Administration/ Commerce/ Accounting/ Finance/ Banking or equivalent
• At least 8 years of relevant experience in banking and relevant fields such as external audit and consultancy
• Good knowledge of key operational risks inherent in a financial institution
• Keen understand/ knowledge of governance practices, internal control systems and ability to monitor risk management activities/ programmes (and implementation thereof)
• Acute knowledge of enterprise risk management concepts, frameworks and methods
• Strong understanding of processes and core management activities in financial institutions
• Ability to disaggregate business plans and transactions into component risks that the organisation is taking on, and recommend how to improve such plans and transactions by mitigating the risks
• Strategic thinking and effective analysis of data
• Sound business and financial judgement, and problem solving skills
• Strong verbal and written communication and negotiation skills
• Ability to organise and motivate individuals at various levels