Operational Risk Consultant
7 days ago
1 week ago Be among the first 25 applicants
Job Responsibilities- Assists the functional units in performing risk assessment of operational processes.
- Confidently handle various stakeholders' requests and provide risk oversight and challenge, as appropriate.
- Perform thematic Risk and Control Assessments (RCA) review for Operational Risk related teams on top of first line's RCA.
- Assist first line in performing Control Environment Assessment (CEA).
- Review business case risk analysis via the Risk and Compliance Assessment Template (RCAT), as appropriate.
- Review business risks in line with emerging risks and provide overall tracking of key Operational Risks on a regular basis.
- Draft, review, and maintain local policies and standards to supplement effective implementation of the framework within the Work Scope.
- Submit regular report/dashboard to Senior Manager for Operational Risk.
- Provide monthly or quarterly report to Senior Manager for Operational Risk for purposes of Risk Committee meetings.
- Report status of Risk and Compliance initiatives/issues to Group Risk Management Committee (GRMC).
- Attend to the needs of the GRMC.
- Provide recommendations to improve compliance with policies, standards, and external requirements, continually analyzing opportunities for process optimization.
- Conduct annual gap analysis on the Group Policies vs regulations vs local policies.
- Localize and tailor Group Policies, if needed, and embed them in operational processes taking into consideration the peculiarity of the local business.
- Engage proactively with business and provide advice/guidance to mitigate risks and other issues.
- Monitor relevant internal developments and regulatory & industry developments, initiating necessary action.
- Provide risk and compliance subject matter expertise support to the First Line.
- Escalate key risks and actual/potential non-compliance incidents to the Head of Operational Risk.
- Ensure timely and quality reporting to Group Risk on a regular basis in all relevant aspects of risk and compliance.
- Produce BU and Philam Group-level Operational Risk dashboard, tracking the evolution of the product risk profile and recommending commentary/actions where advised.
- Develop, compile, and report KRI's, risk exposure measures, and other relevant management information to assist the GRMC in understanding the Operational Risk profile.
- Complete the BAU Operational Risk reports such as the quarterly Operational Risk pack.
- Perform activities required by the Senior Manager for Operational Risk or superiors, as they arise.
- Manage and monitor open audit items from internal/external audits to ensure completion of remediation activities defined in the agreed action plans and risk treatment plans.
- Support leadership teams to develop and expand continuous monitoring processes to assess compliance with other regulatory standards and requirements.
- At least 5 years of working experience, preferably from a Financial Industry.
- Majority of experience in Risk Management either as a first line or second line risk practitioner.
Mid-Senior level
Employment TypeFull-time
Job FunctionOther
IndustriesInsurance
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