Conduct RCSA and independent control effectiveness testing for Consumer Banking; monitor KRIs, manage control issues and audit liaison; support regulatory reporting, MAS responses, policy implementation, and provide operational risk guidance to business units.
Responsibilities:
Strategy and Planning
- Perform Risk Control Self-Assessment (RCSA) for the Consumer Banking division and ensure suitable controls are implemented to mitigate the identified risks
Business Performance and Management
- Perform monthly independent control effectiveness testing to validate that controls have been implemented effectively across both business and operations units
- Monitor operational Key Risk Indicator trends and engage business/ops Unit whenever there are breaches or red flags to assess and formulate actions plans to address these risks
- Assist in all Consumer Banking Singapore audits, both internal and external audit matters. Liaison with auditors, reviewing evidence and responses to any potential observations to be issued prior to submission
- Review the incidences that occurred as Control Issue Management (CIM) or Loss Event Description (LED) into GRC system and ensure resolution is completed within deadline. To facilitate the creation of Control Issue Acceptance (CIA) with issue owner and the relevant stakeholders and Subject Matter Experts (SME).
- Provide independent assurance and evaluate risk management effectiveness (egs RCSA, KRI, assessments)
- Assist with preparing, reviewing and validating regulatory reports before submission.
- Provide support to relevant CBGS project initiatives
- Assist in the implementation of Bank’s risk management/compliance policies and framework for the Consumer Banking division
- Provide guidance to CBSG business units on operational risk matters
- Partner Product Managers to provide timely responses to MAS RFIs and consultation papers pertaining to CBGS-related matters (excluding FAA/FSA), and conduct gap analyses whenever new MAS circulars, notices, or guidelines are issued.
- Identify relevant external courses (including those from ABS) that applicable to CBGS staff.
Represent the Bank in ABS FAIR Committee engagements and participate in discussions with industry partners
People Management
Work closely with internal functional teams including other departments and stakeholders on audit matters and facilitate acceptance and implementation of any new or revised process/controls/policies
Regulatory Compliance
- Support the implementation of Bank’s risk management/compliance policies and framework for the Consumer Banking division
- Provide regulatory advisory support to business units within CBSG on regulatory matters
- Provide inputs for SOPs, GPOC and FSD to ensure compliance with internal and regulatory requirements and efficiency
- Assist in all CBGS regulatory reporting and AML Enterprise-wide Risk Assessment (e.g. FATCA, CRS, AML, MAS Ad-Hoc Questionnaires, CRAFT etc.)
Requirements:
Qualifications
- Degree/ Diploma
Relevant Work Experience
- Experience in banking/financial industry
Technical/Functional Skills
- Regulatory Knowledge (Monetary Authority of Singapore and preferably Bank Negara Malaysia as well)
- Operational Risk Management
- Stakeholder Management
Personal Skills (Soft Competencies)
- Result Driven
- Collaboration and Networking
- Versatility and Agility
- Problem-solving skills
- Strong attention to details
CIMB Singapore Singapore Office
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