Manager - Operational Risk - Hong Kong
The job holder will assist the Hong Kong CRO for developing and implementing integrated Operational, ERM and Fraud risk management strategy; framework and control system to ensure the FAB Franchise in Hong Kong operates within an agreed risk appetite and complies with its internal policy and external regulatory obligations.
In doing this, he/she will work closely with the Group Risk Management units to ensure the Group methodologies, policies, procedures and limit frameworks are established in Hong Kong. Additionally, the potential candidate will build, produce and regularly update the risk report suite to ensure consistency and compliance with the bank's risk tolerance.
- In conjunction with, and as required by the Chief Risk Officer, manage the comprehensive risk reporting framework (covering risk profile of FAB Franchise, macro risks factors, risk mitigations plans etc.) for Hong Kong and Group Risk & Compliance Committee.
- Provide regular reports to the CRO on location's risk profile with mitigation plans. Assist the CRO & Committees in the taking appropriate decisions to manage the risk profile within the set appetite.
Policies, Systems, Processes & Procedures
- Assist in development and effective implementation of risk policies (Operational, ERM and Fraud Risk), procedures and controls covering all areas of assigned FAB Franchise so that all relevant procedural/legislative requirements fulfilled while delivering a quality, cost-effective service.
- Manage the review and assessment of the FAB Franchise to provide a view on the level of exposure relative to risk appetite and advice on risk mitigation
- Assist in development and implementation of risk monitoring, models and control systems and process in partnership with group risk heads and business heads to support risk-based decision making.
- Stay in regular contact with Group Risk Heads to ensure that the policies, procedures, models, processes, mitigation factors and plans are in alignment with the group risk mitigation and monitoring strategies.
- Oversee the FAB Franchise in Hong Kong's Operational Risk Management; reporting operational risk profile, ratifying and recommending relevant Operational Risk management actions and mitigation strategy.
- Roll-out the bank's policy re Operational Risk Management in FAB Franchise in Hong Kong; Review/approve local business policies and standard operating procedures
- Facilitate the KRI & RCSA set-up for FAB Franchise incl. threshold definition; monitor KRI's that are in high risk categories
- Review loss and incident data incl. actuals, near miss or potential events across FAB Franchise
- Monitor KRI data specific to FAB Franchise in Hong Kong re breaches against acceptable thresholds; review the corrective actions taken in regard to breaches
- Run the risk assessment procedures across FAB Franchise in Hong Kong and monitor / review corrective actions for loss incidents. Review root cause analysis and corrective actions; monitor status of corrective actions
- Prepare the reports for the submission to local regulators and calculate / monitor capital adequacy with regards to OR capital requirements
- Oversee the Fraud Risk Management; reporting Fraud risk profile, ratifying and recommending relevant Fraud Risk management actions and mitigation strategy.
- Roll-out the bank's policy re Fraud Risk Management in FAB Franchise in Hong Kong; Review/approve local business policies and standard operating procedures
- Roll-out the fraud framework across FAB Franchise in Hong Kong
- Review/approve prevention controls in the local business operating environment
- Review root cause analysis and corrective actions; monitor status of corrective actions incl. recovery across FAB Franchise in Hong Kong
- Analyze incidents and execute respective investigations incl. resolutions across FAB Franchise in Hong Kong; define and implement corrective actions
- Roll-out the fraud risk monitoring and reporting framework FAB Franchise in Hong Kong
- Prepare the reports for the submission to local regulators
Enterprise Risk Management
- Monitoring and Reporting of Governance across the International Risk committees to Group ERM.
- Roll-out ERM risk policies & procedures in FAB Franchise.
- Assist the CRO in roll out the Risk Appetite Metrics and Thresholds for FAB Franchise. Monitor the Risk Appetite Metrics Thresholds vs the Actuals and reporting of breaches.
- Define the stress testing framework as per the local regulatory guidelines and Group framework. Define the stress testing scenarios and determine its impact on portfolio as per the local regulatory guidelines
- Prepare CRO report / ERM dashboard for FAB Franchise in line with overall GCRO report framework and regulatory requirement
- Calculate and monitor Pillar 1 capital adequacy & ICAAP report for FAB Franchise as per local regulatory guideline
- Prepare Recovery & Resolution Framework in line with RPP framework & local regulatory requirement
- Prepare all necessary reports for the submission to local regulators
- Participate in management of change through continuous improvement of functional systems, processes and practices considering global standards and changes in the business environment which demand proactive action plans
- Take full ownership of Outsourcing and Data Protection governance for the branch. Liaise with the Business Units, IT and Operations Department on outsourcing matters, to ensure that they comply and meet the standards and requirements required by the local regulator. Provide advisory support to stakeholders for outsourcing, ensuring that periodic assessments are completed on a timely basis.
- Ensure that all functional reports are prepared timely and accurately and meet location & Group requirements, policies and quality standards
- Operational Risk (as a % of Operating Income)
- Fraud risk measures
- Fulfilment of regulatory requirements
QUALIFICATIONS & EXPERIENCE:
- Bachelor's degree in Finance, IT or related discipline.
- Master's degree in Business Administration, or a related discipline is preferred.
- Professional Certification in CFA, FRM, or a related discipline is preferred.
- 5 years' relevant experience in the banking sector with at least 3 years in similar positions of progressively increasing managerial responsibilities in the risk management function.