Head, Operational Risk and Regulatory Compliance Management

3 days ago

Manila, National Capital Region, Philippines Sun Life Financial Full time
Head, Operational Risk and Regulatory Compliance Management

Location: Taguig City, National Capital Region (Manila)
Time Type: Full time
Posted On: Posted 30+ Days Ago
Job Requisition ID: JR00082605

You are as unique as your background, experience and point of view. Here, you'll be encouraged, empowered and challenged to be your best self. You'll work with dynamic colleagues - experts in their fields - who are eager to share their knowledge with you. Your leaders will inspire and help you reach your potential and soar to new heights. Every day, you'll have new and exciting opportunities to make life brighter for our Clients - who are at the heart of everything we do. Discover how you can make a difference in the lives of individuals, families and communities around the world.

Job Description:

Job Purpose: The Operational Risk Officer (ORO) and Regulatory Compliance Management Coordinator (RCMC) will support the business head in identifying, measuring, managing, monitoring, and reporting operational risks of the business unit, including compliance related risks. The ORO will partner with Management as well as Second Line of Defense Risk and Compliance stakeholders to assess operational risks, enhance control frameworks, provide oversight on risk and compliance policy requirements, and ultimately enable the business to evolve while maintaining risk within appetite. The ORO will perform such other functions as required under the Operational Risk Management Framework and Compliance Risk Management Framework and their relevant operating guidelines.

The ORO's scope will cover SLF Philippines' businesses and functions, with the exception of Operations, IT and the Transformation Office, SLGFI and SLAMCI. Additionally, the RCMC covers all SLF Philippines' businesses and functions.

Major Accountabilities:

  1. Execute required risk & compliance assessments with a risk-based approach to gap identification and risk mitigation.
  2. Work with functional teams within the business unit to manage evolving risk processes to ensure that appropriate identification, evaluation, reporting and escalation of risk exposures is in place.
  3. Ensure BU awareness, understanding & compliance of applicable enterprise risk and compliance policies.
  4. Develop and conduct risk and compliance related training and consultation as required to build a risk and compliance culture at Sun Life.
  5. Assess risk and control effectiveness within the business unit and identify and prioritize opportunities to improve risk management by conducting periodic independent testing/monitoring of the effectiveness of key process controls.
  6. Oversee the roll-out of new/changed risk and compliance requirements and support internal clients in designing solutions that meet risk and business objectives.
  7. Ensure that regulatory and internal requirements are implemented, and controls are in place to ensure compliance with requirements.
  8. Escalate operational risk events of the business unit to BU Risk Management following Operational Risk Event Guidelines.
  9. Provide support to their Business Policy Owners on policy compliance attestations requested by Risk and Compliance.
  10. Prepare periodic risk and compliance reports for Management, Risk and Compliance via the Monthly Business Review of the business unit.
  11. Support reviews conducted by Internal Audit, Risk and Compliance as well as external auditors and regulators.
  12. Execute the Regulatory Compliance Management (RCM) program for the assigned BU/Business Functional Group (BFG)/Corporate Functional Areas (CFAs).
  13. Ensure alignment of RCM practices with Sun Life's Enterprise RCM framework, manuals and methodologies.
  14. Usage of Archer within their BU/BFG/CFAs as the "Book of Record" for all elements of Sun Life's RCM program.
  15. Learn and enable an appropriate level of compliance and risk knowledge within their BU/BFG/CFAs.
  16. Ensure the accuracy and completeness of content in Archer to facilitate RCM reporting to business unit leadership.
  17. Partner with Compliance and the business with respect to supporting RCM Transformation.

Specialized Knowledge:

  1. Knowledge and experience on operational risk management and laws and regulations governing financial institutions.
  2. Ability to understand laws, regulations, and businesses processes, and ability to assess the corresponding risks and impact to the business.
  3. Expertise in business and governance processes in specialized areas.
  4. Strong leadership and influencing capabilities.
  5. Demonstrated ability to make sound recommendations to senior leaders.

Problem Solving:

  1. Ability to think strategically and execute tactically.
  2. Strong and flexible problem-solving capabilities.

Education and Experience:

The candidate should have the following: a 4-year university degree; at least 3 to 5 years management/technical experience plus 3 years of operational risk management (preferred). Experience in internal audit, risk and compliance is an advantage.

Communication Scope:

  1. Confident verbal and written communication skills, experience presenting sensitive matters to senior management.
  2. Ability to distill complex requirements without oversimplifying or missing critical components.

Job Category: Risk Management

Posting End Date:

Shine together: At Sun Life, you can be your most brilliant self. Our supportive, flexible, and inclusive work environment is one where you – and your career – can thrive.

Shape the future: With an optimistic eye on a brighter future, we drive to innovate. Be part of leading change, push boundaries and try new ways of working.

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