Experience: 2-4 years of relevant experience in risk identification and management, Enterprise Risk Management (ERM), Operational Risk Management (ORM), incident governance, compliance and/or audit.
- Candidate should have worked extensively on maturing the risk culture through diligent initiatives
- Ideal candidate having experience in the financial services industry and a working knowledge of regulatory requirements
- Profound knowledge of Risk Management (regulatory requirements, industry leading practices & trends in ORM and ERM)
- Ability to articulate complex concepts and information in a clear, concise and structured manner
- Strong strategic, analytical, and decision-making skills
- Proven relationship management skills and ability to influence a large and diverse group of stakeholders (often without organizational structure) through persuasion, intellect, experience, strong interpersonal skills etc.
- Stay abreast of current industry standards, regulations and external environment
- Develop and maintain knowledge of systems and data to ensure optimal use of technology
Attitude:
- Fast paced and prompt
- Energetic and Enthusiastic
- Self-motivated
- Be a self-starter and display a proactive approach
Job Responsibilities:
- Risk & Control Self-Assessment (RCSA):
- Assist in the execution of RCSA exercises by working with business units to identify inherent risks within processes, systems, and activities.
- Carry out detailed walkthroughs and process mapping to identify significant risks and controls
- Document and maintain risk and control matrices for various functions, ensuring completeness and accuracy of data.
- Help evaluate the design and operating effectiveness of controls identified during RCSA to highlight gaps or weaknesses.
- Support periodic updates and reviews of RCSA results to keep risk assessments aligned with evolving business environments.
- Key Risk Indicator (KRI) Monitoring:
- Collect, analyze, and report on KRIs across different operational areas to monitor risk exposures and trigger early warning signals.
- Collaborate with relevant departments to ensure KRI data integrity and timeliness.
- Generate KRI trend reports and escalate any threshold breaches or emerging risks to senior risk management.
- Operational Loss Tracking and Reporting:
- Maintain a comprehensive operational loss database, ensuring all loss events are recorded accurately with appropriate details.
- Assist in root cause analysis of operational losses to identify risk factors and control failures.
- Facilitate trend analysis and lessons-learned exercises stemming from operational loss data.
- Operational Incident Review:
- Participate in the review and analysis of operational risk incidents, including security breaches, system failures, fraud events, and process breakdowns.
- Document risks and controls pertaining to incident investigation findings and corrective plans.
- Control Testing and Validation:
- Assist in planning and execution of control testing activities to verify that risk mitigation measures are functioning as intended.
- Collect evidence, perform control walkthroughs, and document findings to support control effectiveness assessments.
- Communicate test results to control owners and follow up on remediation actions for any identified deficiencies.
- Maintain records of control testing results to support audit and compliance requirements.
- Risk Awareness and Training Support:
- Support the development and rollout of risk awareness programs, workshops, and communications to enhance understanding across the organization.
- Assist in preparing materials, such as newsletters, presentations, and e-learning content related to operational risk.
- Foster a culture of proactive risk management by engaging with teams to promote compliance with risk policies and procedures.
- Others:
- Review new product / process documentation and be able to identify the impact of the same on the Operational risk profile and ensure that adequate mitigation measures / controls are in place
- Monitor, review, and communicate the impact to the risk profile of future initiatives, including new product / process assessments, targeted risk reviews, major business changes, changes in regulations and changes in the operating environment.
- Work together with other organizational line of defense (i.e. Compliance, Internal Audit, etc.).
- Managing and building relationship with ORM vendors.
- Manage and coordinate various audits for Operational Risk Management (ORM), including Internal, ISO, Infosec, Regulatory, and other audits, to ensure compliance and effective risk management framework is in place.