Engage with relevant business/support units, facilitating the use of relevant operational risk tools and methodologies, including Risk Event Reporting, Risk Control Self-Assessment (RCSA), Key Risk Indicators (KRI), etc to enable the units to identify, assess and mitigate key operational risks.
Track and monitor operational risk issues for business units. Liaise with relevant business/support units partners in the various control and support functions e.g. Credit, Compliance, Legal, etc in addressing operational risk issues arising in the end-to-end processes.
Act in proactive manner to assist the business unit and support functions to assess and manage their operational risks
Monitoring compliance to, and the implementation of, the internal policies and emerging regulatory guidance from a technology perspective.
Work with Business units (1st line of Defence) in conducting operational risk reviews.
Report operational risk related issues and suggestions/decisions to senior management on a regular basis.
Investigate root causes of operational risks and provide support to review controls and mitigate risks.
Documentation for risk management policies and procedures. Manage and maintain the ORMS system that enables regular risk reporting and analysis and liaise with internal support parties (eg ORR portal)
Build up operational risk loss database and related operational risk analytics. Conduct causal analysis for reported OR incidents actual loss / potential loss
Ensure constitution of appropriate operational risk committees with approved terms of reference including quorum, recording minutes, follow up for closure of identified actionables.
Ensure periodic conduct of Risk and Control Assessments including identification and assessment of risks; development and documentation of controls and actions plans to improve the effectiveness of the control. Conduct reviews on operational risk metrics (Risk Events, RCSA, KRI, etc) as appropriate, including the responses and action plans and assessing the effectiveness of these as adequate mitigants to the risks identified.
Key Responsibilities
Conduct process walk through / control testing for various products, processes
Develop Key Risk Indicators in consultation with business for focused monitoring and reporting of operational risks and related action plans.
Ensure conduct of regular OR training to all functions and provide guidance to the risk managers on all aspects of the management of operational risks.
Provide advice, guidance and training to the Business / Support units (BU/SU) on operational risk matters including risk management processes, where applicable, for adoption by the units.
Conduct operational risk control testing (design & operational level) and implement mitigation strategies.
Conduct the operational risk assessment for new business initiatives.
Responsible for Material Outsourcing Risk Assessments and reporting to the Board on semi-annual basis.
Building Ops risk scenarios and conduct ops risk Stress testing.
Work on special projects as may be assigned from time to time.
Mandatory Skills Required
Professional qualification (BBA/CA/MBA) with 5-7 years of experience in BFSI sector.
Good communication and inter-personal skills, with ability to work with people at different levels.
Strong Analytical skills. Microsoft Power point, Excel and Word.
Exposure to Retail Asset products would be preferred.
Must have a strong risk orientation and ability to spot risks in processes.
