Operational Risk Consultant

FIND YOUR 'BETTER' AT AIA

We don't simply believe in being 'The Best'. We believe in better - because there's no limit to how far 'better' can take us.

We believe in empowering every one of our people to find their 'better' - in the work they do, the career they build, the life they live and the difference they make. So that together we can support even more people - including our own - to live Healthier, Longer, Better Lives.

If you believe in better, we'd love to hear from you.

About the Role

The Operational Risk Consultant will be responsible in assisting the
Associate Director for Operational Risk Management of Risk and
Compliance in executing its role in the Risk Management Framework as
part of the second line.

Roles and Responsibilities:

Risk Management and Compliance

• Assists the functional units in performing risk assessment of operational processes
  •
• Confidently handle various stakeholders' requests
  • Provide risk oversights and challenge, as appropriate
• Perform thematic Risk and Control Assessments (RCA) review for Operational Risk related teams on top of first line's RCA.
• Assists 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
  • Provide overall tracking of key Operational Risks on a regular basis.
• Draft / review and maintain on an ongoing basis, local policies and standards to supplement effective implementation of the framework within the Work Scope.
• Conducts second line control testing for high-risk processes, incidents and issues. Be able to test design and effectiveness of controls and provide meaningful recommendations to improve the control environment

Governance and Regulatory Requirements

• Submits regular report/dashboard to Senior Manager for Operational Risk
  •
• Provide monthly report 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).
• Attends to the needs of the GRMC

Training and engagement

• Conduct regular risk roadshows and trainings on ORM tools and systems

Policies and Procedures

• Provide recommendations to improve compliance with policies, standards and external requirements and continually analyzing opportunities for process optimization relating to the Work Scope above.
• Conduct annual gap analysis on the Group Policies vs regulations vs local policies.
• Localized and tailor fit Group Policies, if needed, and embedded in operational process taking into consideration the peculiarity of the local business.

Business engagement

• Proactively engagement with business and provide advice / guidance to mitigate risks and any other issues. Strengthen risk and compliance engagement to educate and increase awareness of regulatory developments and ethics / compliance risks.
• Proactively monitoring relevant internal developments and regulatory & industry developments and initiating necessary action.
• Provide risk and compliance subject matter expertise support to the First Line.

Reporting and escalation

• Escalate key risks and actual/potential non-compliance incidents to the Head of Operational Risk to ensure that potential risks or incidents are managed effectively. Monitor implementation of corrective actions to remediate any identified deficiencies.
• Ensure timely and quality reporting to Group Risk on 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 recommend commentary/actions where advised for.
• 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, etc.

Others

• Perform activities required by the Senior Manager for Operational Risk or superiors, as it arises.
• Efficiently 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.

Minimum Job requirements:

• At least 5 years of working experience, preferably from a Financial Industry.
• Majority of his/her experience is Risk Management either as a first line or second line risk practioner

Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives.

You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.

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