Lead - Operational Risk Assurance

Risk Lead, Operational Risk Assurance

• Facilitate in the embedding of operational risk assurance model in the Group’s three lines of defence through best-in-class operational assurance practices.
• Support the Group in delivering value and achieving business objectives in a control environment through effective operational assurance activities and oversight.
• Management of data of operational risk incidents and losses to ensure timely reporting and diligent action from risk owners to mitigate risks.
• Perform reviews of operational risk assessments, new or change initiatives, introduction of new products, services or systems and identify potential risks and provide risk mitigating control recommendations.

Responsibilities

• Facilitate the implementation and updating of the Group Enterprise Risk Management and Operational Risk Management Frameworks and Programmes.
• As a member of the operational risk management team, be the source of reference to business units in facilitating and promoting the understanding of operational risk and governance matters. Communicate with Business and Support functions to implement sound operational risk management framework.
• Facilitate risk assessments and reviews of new market entrance, mergers, acquisitions, strategic project etc. as directed by the senior management with close engagement with the risk owners.
• Support the risk owners and risk champions in conducting Risk Assessments (RA) of business and support units and for projects, changes or new initiatives.
• Validate and challenge the risk identification and assessment of inherent and residual risks arising from its end-to-end processes. Assess the control environment, control design, control execution and control testing.
• Support the risk owners and champions to ensure that Risk and Control Self-Assessment (RCSA) reviews are appropriately and timely completed by the business and support units.
• Perform process mapping exercise for key operational processes to support RCSA and control monitoring.
• Ensure diligent execution of the Group Risk Assurance Plan by conducting operational risk thematic reviews in a timely manner and issue the reports with risk mitigating action plans and monitor for timely closure of issues by risk owners.
• Review standard operating procedures and process notes to identify procedural risks and recommend compensating controls.
• Facilitate in the development, implementation, and execution of operational risk reporting to the senior management.
• Facilitate the implementation and management of Group’s risk management system.
• Facilitate in promoting effective risk management culture across the Group.
• Providing and facilitating operational risk training and awareness to staff across the Group.
• Perform due diligence for new vendor onboarding and any other requirements in line with the Vendor Risk Management Policy.
• Conduct periodic reviews and risk assessments to evaluate the risks posed by existing vendors and their control environments based on each vendor’s risk level, including the criticality and materiality of the vendor arrangements.
• Provide advisory oversight and support Fraud and Credit Risk management teams on merchant and ecommerce fraud risks, including oversight on credit risk assessments and identification of key fraud vulnerabilities.
• Partner with business teams to identify fraud and credit risk issues, enhance awareness, and support effective risk mitigation practices across merchants, PSPs, aggregators, and wallet operations.
• Support the development, implementation, and ongoing enhancement of fraud and credit risk management frameworks, policies, and processes in line with scheme requirements and emerging trends.

Qualifications

• Bachelor’s degree in Risk Management / Finance / Management Information Systems / Business Administration with strong grasp over statistical tools and techniques.
• Minimum 10 years’ experience in Banking / Financial Services / Payments Industry / Risk Management.
• Exposure to Banking Operations, Payments, Card Operations, Merchant Acquiring Operations with reasonable experience in process management, MIS and data analysis.
• Good understanding of international standards e.g. International Organization for Standardization ‘ISO’ and Committee of Sponsoring Organizations of the Tredway Commission 'COSO’.
• Should have strong analytical, communication, negotiation, presentation, report writing, and organization skills.
• Strong interpersonal skills used within a team environment.
• Pro-active and self-starter who can work with limited supervision.
• Good understanding of Operational Risk Tools such as RCSA / KRI / Loss Data Management
• Resource with expert knowledge on spreadsheet who has hands on experience with short cut formulas and macros.
• Able to lead the investigations internally and take ownership of the issue until closure.
• Customer focused and should be able to work under pressure and should have an easy-going attitude and self-motivated.