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Senior Operational Risk Manager

GXS Bank
Singapore, Singapore
Closing date
Jun 7, 2023

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Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
Get to know our Team:

We design and provide products and services that empower our customers to enjoy greater banking convenience while they extract more value from their money. In particular, we are focused on promoting and developing healthy saving and investment practices across generations.

Get to know the Role:

We are living in exciting times. Technology is reshaping how we live and we want to use it to redefine how financial services are offered, which is why Singtel and Grab are coming together. Singtel is Asia's leading communications group connecting millions of consumers and enterprises to essential digital services while Grab is the leading technology company in Southeast Asia offering everyday services to consumers. Together, we have big dreams to unlock and financial inclusion for people in our region is just one. We want to build a digital bank with the right foundation - using data, technology and trust to solve problems and serve customers.

We're looking for an Operational Risk (OR) Manager who will be reporting directly to the Head of Operational Risk, this is a Second Line of Defence role under the Risk Management function. The OR Manager is responsible to drive and oversee the effective implementation of Operational Risk framework and agenda while aligning them to the Bank's overall digital strategy.

The day-to-day activities:

Assist with developing and implementing Operational Risk Framework and all associated policies and procedures and ensure they are effectively embedded into the Bank's control environments.

Act as the central point of contact for operational risks arising from portfolio assigned, challenging business activities/ processes that are not aligned with the established risk appetite, controls that are not adequately designed or dispensation/ residual risk acceptance that have not been approved by the appropriate authority.

Collaborate extensively with the stakeholders (e.g. Technology, Information Security, Product, Compliance and Operations teams) during the "build" phase to ensure systems/processes are built with robust controlsness and clear accountability .

Keep abreast of the regulatory landscape in Singapore related to Operational risk and ensure regulatory requirements are embedded in the relevant processes.

Monitor risks against Risk Appetite, Limits & Thresholds, and challenge the appropriateness of treatment actions.

Implement the risk incident management process including registration of risk events, reporting of remedial action statuses and delivering risk incident reports/ MIS for senior management and regulators.

Assess the impact analysis & remedial action plans submitted by 1st Line of Defence for material operational risk events (OREs), near misses (NMs) and Root Cause Analysis (RCAs). Ensure stop gap measures are implemented timely and final approvals are obtained to ensure full resolution.

Conduct Ops Risk Assessment (ORA) for potential change delivery risks arising from new product/ system roll-out to ensure no unresolved material defects before go-live for High-Impact projects.

Lead discussions with stakeholders to understand business priorities/problems and translate them into data analytic initiatives (rule-based/ ML) to enhance the risk management cycle in terms of identification, analysis, solutioning and monitoring of operational risks (inherent/ emerging/ recurring/ residual risks).

Implement RCSA and lead the design of the Control Self-Testing (CST) Process, KCIs/ KRIs establishment and guide Business (where necessary) in identifying and developing key control testings, which may entail challenging key CST steps against minimum control standards to ensure robustness/ effectiveness.

Facilitate the Monthly Operational Risk Forum/ Committees meetings; including preparation of committee meeting packs and ensure adherence to the ToR.

Conduct training activities to Business & Functions to promote the understanding of Operational risk requirements and risk/ control awareness. This entails maintaining active engagement with Business/ Function Heads so that they understand and accept their operational risk management responsibilities.

Conduct the annual stress testing from Ops Risk perspective alongside with other functional leads, in terms of stress test and scenario programme as part of ICAAP reporting, review the results and assess their implications.

ORM system: Constantly develop and maintain risk tools and systems. Liaison party between the module and product owners/data scientists/technology partners to oversee enhancement requests and provide production support.

The must haves:

With minimum 12 years of experience in Operational Risk Management, Internal Audit, Compliance and familiar with risk management concepts and tools. Specific wide span of end-to-end experience across functions such as (but not limited to) Product Development, Fraud Risk Management, Credit Risk Management, Outsourcing/Eco-system Management, AML/Sanctions/CDD, Middle/ Back Office Operations & Business Continuity Management.

Bachelor's degree or higher from a globally recognized university.

Good understanding of technology and retail products in the digital banking space.

Good knowledge of technology and consumer banking related regulations. Prior regulatory exposure is a plus and familiar with related MAS regulations such as MAS Notices (e.g. 634, 626, 635), Guidelines on Risk Management Practices, Business Continuity Management & Outsourcing.

Experience in deploying risk assessment techniques using data analytics.

Strong influencing, communication, presentation and interpersonal skills and ability to manage relationships with senior management.

Confident, able to work independently and possess the courage to challenge risk-decisions made by senior stakeholders if deemed inappropriate.

Able to balance risk and control, comfortable to hold the fork as a risk controller and yet a trusted advisor from the stakeholders' perspective.

Ambitious, self-driven and highly motivated individual who can work well in a startup VUCA (Volatile, Uncertain, Complex, Ambiguous) environment. Should have a deep desire to excel and develop a career in a fast growing tech company. Should have demonstrated integrity and respect in the performance of their duties.

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