Head of Risk and Control - CMTB SG

Key Responsibilities:

• Steer the direction towards effective implementation of robust strategies, framework and policies related to non-financial risk and compliance matters to strengthen the operational resiliency and enable sustainable business growth of the Department and CIMB Singapore.
• Lead the Risk & Controls team within the Department to strengthen operational resiliency with proactive identification, management, monitoring and control of operational and compliance risks using relevant operational and compliance risk tools to reduce likelihood and impact of occurrence in line with risk appetite. This includes identifying areas with ineffective controls or potential risk associated with new business initiatives, process changes, and new product or services for the department.
• Oversee the identification, assessment and monitoring of key drivers for all types of non-financial and compliance risks that could impact the Department, including Operational Risk, Conduct Risk, Fraud Risk, Third-Party Risk, Business Continuity, Data Risk, AML/CTF, regulatory compliance and other non-financial risks that are unique and applicable to the Department.
• Support and provide risk and control advisory to Head Of Department / Head of Unit (HOU) / Process Owners with proactive risk prevention strategy by identifying and managing risk at source / emerging risks during departmental strategy planning, product design, system implementation / changes or process changes and embedding effective risk controls in the business processes.
• Monitor and report risk indicators / measures, and ensure timely escalation of the department's operational risk events with mitigating actions to stakeholders and risk committees
• Collaborate with HOU / Process Owners to ensure departmental policies, procedures and SOPs are effective, updated and aligned with the Bank's risk framework and policies with documentation of appropriate key controls.
• Perform regulatory gap analysis for new or revised regulatory guidelines or P & P impacting the department, ensuring adequate risk and control are put in place for regulatory compliance. Manage and address regulatory expectations, including audit examinations and queries

Incident Response, Root Cause Analysis and Recovery

• Ensure timely assessment, escalation and resolution of operational risk event to minimize potential losses
• Conduct deep-dive into operational risk events through understanding the sequence of events to identify the root cause / control weaknesses for establishing and implementing mitigating controls/preventive action plans.
• Perform independent thematic and/or periodic reviews of incident, project, process/control, systems, etc, to identify cause and controls breakdown/deviation at a department and/or cross departments level.

Regulatory Compliance

• Support the Head of Department in addressing requirements and audit request of local regulators with respect to non-financial risks and regulatory compliance, ensuring departmental non-financial risk controls and practices are in compliance with the applicable banking laws, regulations, internal policies and procedures.
• Stay abreast of industry trends, regulatory developments and best practices in non-financial risk and compliance risk to continuously enhance departmental risk management capabilities and operational resilience.

Requirements:

• University Degree or Diploma or equivalent
• Professional or post graduate qualifications e.g. Chartered Accountant, CFA, MBA, LLB, Operational Risk Management Certification, etc
• At least 15 years of operational risk management, quality assurance or other risk control-related function experience and at least 10 years of managerial experience from the banking industry.
• Excellent communication, interpersonal and stakeholder management skills for effective collaboration and positive influence to make appropriate decisions and resolve conflicts effectively.
• Strong managerial and leadership skills to mentor, nurture and motivate team members to enhance the capabilities to connect the dot and critically resolve and manage departmental risk and compliance issues.
• Ability to think strategically and critically in managing emerging risks and / or responding to operational risk events.
• Strong understanding of end-to-end bank operations, from front to bank,
• Ability to work autonomously and exercise sound judgment with strong problem-solving mindset and a sense of ownership in resolving departmental risk and compliance issues