Operational Risk Consultant

Roles and Responsibilities:

Risk Management and Compliance

• Assists the functional units in performing risk assessment of operational processes
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• 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
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• 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