The incumbent will report locally to the Managing Director, BOSWM MY and functionally to the respective Department Risk Heads in Head Office. The incumbent shall oversee and strengthen the operational, business and market/investment risk management governance and framework for BOSWM MY. This is a key leadership role with a broad and strategic mandate to help shape a growing investment risk function and seen as a true partner to the business. The incumbent will oversee the local risk team and supports the local management and global risk committees (investment, business and operational risks).
Roles and Responsibilities
- Lead the roll-out / localisation of the risk management policies, procedures, processes, methodology and initiatives, in alignment to Bank of Singapore Group, taking into consideration local regulations and requirements, while working closely with Head Office.
- Promote and deepen risk awareness by working with Business Partners and other relevant stakeholders, providing support and advisory on the application of the risk policies, procedures, processes, methodologies, providing training (where applicable) and fostering a culture of risk management within the organisation.
- Lead and/or participate in risk committees and working groups to enhance governance and oversight over risk matters.
- Lead the local Risk Management Team in the following areas:
- Review and analyse risk performance metrics, develop insightful and actionable reporting across the funds, escalate significant incidents, key trends and queries for management’s attention including Head Office.
- Provide guidance to business units and local management on operational risk management programs* to enable business units to manage the relevant risks in a structured, systematic, and consistent manner.
- Oversee the execution of surveillance reviews in line with regulatory and Head Office’s standards.
- Oversight on the fund exposures, concentrations and strategies from an investment risk and performance perspective.
- Review and approve risk assessment or methodologies for initiatives/reviews.
*Note: The operational risk management programs include the following:
- Self-Assessment Programs such as Risk and Control Self-Assessment (RCSA)
- Key Risk Indicators (KRIs)
- Operational Risk Events management and reporting
- Outsourcing Risk Management
- Technology, Information and Cyber Risk Assessments.
- Business Continuity Management
- Physical Security Assessment
- Insurance Management
- A minimum of 10 years of relevant working experience in banks / funds / asset management with exposure to operational risk, audit, or operations, as well as business procedures development, monitoring and surveillance experience in a banking environment.
- Good understanding and knowledge of banking / wealth management products (including investments, equity securities, fixed income securities, derivatives, and mutual funds), processes (including risk modelling techniques), operations and regulations where applicable.
- Strong leadership and management capability.
- Able to exercise sound judgment and establish both strategic and tactical plans in the management of risk.
- A driven self-starter who is result oriented and possesses strong communication, influencing and presentation skills to facilitate interactions with Board, Senior Management and Business Units in the organisation.
- Thrive in a fast-paced environment, able to adapt and multi-task to various demands in a diverse and competitive culture.
- Familiar with relevant rules and regulations, in particular those relating to local private banking / asset management business.
- Good analytical, report writing and project management skills.