VP - Operational Risk Manager, Singapore
Employee | Wholesale Banking | Professional | Singapore | Singapore Office | 2019-07-12 | 056953
To challenge, advise, support and perform research for the benefit of management and 1st Line of Defence (1LoD) in the development, definition and implementation of Operational Risk Management in Asia. To ensure that the 1LoD operates in accordance with internal policies and standards, such that the costs of risk and the capital reserve under control. To encourage/provide support in order to ensure that 1LoD becomes an integral part of business operations, with the aim of managing the Operational Risks for ING and contributing to the reliability and integrity of ING products, services and employees. To drive ORM’s innovation agenda for ‘next generation’ risk analytics capability in data visualization and data analytics.
Duties and Responsibilities
Governance & Advice
• Maintain the framework and manages it as a basis for operational activities.
• Advise 1LoD on Operational Risk framework matters.
• Consult, advises and supports 1LoD on Operational Risk set-up, procedures and measures.
• Challenge, advises and helps 1LoD in the field of Operational Risk queries and the application of various Operational Risk aspects within daily operations.
• Identify and monitors relevant developments in the field, both within and outside the organisation, and incorporates findings in policy and procedures.
• Support running of local Risk Committee chaired by Country Branch Manager.
Risk Identification & Risk Assessment
• Identify risks in conjunction with management and the 1LoD, with due regard for the interests of parties involved (bank, customer, third parties).
• Investigate risks and events, conducts desk research, researches individual cases and makes an analysis. Helps prioritise risks and performs assessments in conjunction with management.
Risk Mitigation & Risk Awareness
• Guide and support 1LoD in the creation of an implementation risk mitigation plan.
• Communicate policy and guidelines to management and employees.
• Encourage risk awareness and a sense of responsibility among management and employees in relation to Operational Risk.
• Advise and assist in the implementation of new and updated Operational Risk policy, procedures and measures.
• Point of contact for the reporting of and for queries relating to Operational Risk events and issues.
Monitoring, Progress and Reporting
• Check that the 1LoD is complying with the Risk Appetite, and that Operational Risks are being managed and escalated where necessary.
• Monitor progress in Risk Mitigation activities, creates reports and feeds back to management of the business unit, second line and Operational Risk functional line.
• Develop human centric and meaningful Operational Risk intelligence and visualization for senior management and risk committees
• Explore use of predictive analytics to forecast changes in Operational Risk levels
• Understand and recommend actions to improve ING’s operational risk processes and systems as well as resolution of data quality matters
- Degree or above with major in Accounting, Finance, Economics or related discipline
- Minimum 8 years’ relevant Operational Risk and Risk Analytics experience preferably in financial institution
- Ability to analyze, collate and understand the business requirements
- Skilled in data visualization and data analytics toolsets, concepts and processes particularly in Operational Risk and Risk domains
- Strong organizing and project management skills
- Ability to lead and drive projects and initiatives
- Self-motivated, proactive and able to work on own initiative
- A strong team player with good interpersonal skills who is able to work well with others
- High proficiency in spoken and written English