Head of Risk Management

Company Overview:

UBX is a wholly owned subsidiary of Unionbank of the Philippines. UnionBank is a top 10 universal bank in the Philippines by assets, with annual revenues of over PHP 25 Billion. UnionBank is a leader in digital financial services and has been recognized as the top digital bank in the Philippines by Asiamoney and IDC. UnionBank has established UBX to build on its leadership in digital: UBX facilitates UnionBank's exploration and creation of new, digital and potentially non-banking business models. UBX's mission includes investments in financial technology (fintech) companies and other ventures whose capabilities complement UBX's platform development. UBX is developing platforms that embed financial services into customer and business experiences. This results in financial services that are accessible to a broader community– physically, logically and economically. UBX invests to positively and materially impact financial inclusion. Truly innovative financial technology should make banking perfectly transparent in the lives of consumers and businesses. When we talk about banking today, we still talk about accounts, lines of credit and cash management services. Banking still distracts and interrupts. Our ultimate goal: banking that becomes invisible, banking vanishes into our lives and businesses. This is why we are particularly focused on ecosystems: can we participate in and build the platforms where we can seamlessly embed banking in the context of experiences for consumers and businesses.

Our Customers:

Ecosystems are built on platforms that support multi-participant markets and multi-point

transactions. Therefore, from an ecosystem development perspective, our customers are the

participants in these ecosystems. This can be made clearer by way of example. For the financial services platform, the resulting ecosystem has the following participants:

● Financial institutions such as rural bank and non-bank financial institutions (coops, lenders etc.)

● Customers of these financial institutions

● Financial service providers that leverage the platform such as lenders and insurers

● Technology providers that build solutions on top of the platform

Head of Risk Management

Enterprise Risk Management

• Supervise the identification and assessment of operational, financial, technology, and strategic risks across departments.
• Monitor emerging risks specific to UBX
• Lead periodic risk assessments in coordination with department heads and technical leads.
• Support process/risk owners in the development and implementation of risk mitigation strategies and controls.
• Oversee the company-wide conduct of Risk & Control Self Assessment (RCSA) process in close collaboration with senior management and risk champions to ensure consistent implementation of the RCSA approach and related risk management guidelines.
• Partner with function and/or business owners to ensure risk controls are embedded in processes and systems.
• Maintain and update the company's risk management framework, policies, and procedures to ensure relevance and alignment with relevant industry and regulatory standards.

Risk Monitoring & Reporting

• Check and maintain risk registers and dashboards.
• Regular risk reporting to senior management, risk committees, and possibly the board.
• Ensure timely escalation of key risk issues and incidents.
• Oversee the use and improvement of risk tools

Stakeholder Engagement

• Act as a key liaison between Risk Management and technical/business teams.
• Provide risk advisory for projects, system rollouts, product launches, and strategic initiatives.
• Conduct training and awareness sessions on risk culture and responsibilities.

Incident & Issue Management

• Oversee the operational risk incident management process to ensure that incidents are recorded, managed, reported and escalated where appropriate and work closely with stakeholders in the proactive management and resolution of the same.
• Ensure timely closure, remediation and adequate documentation of risk issues, audit findings, and control weaknesses.

Compliance & Regulatory Alignment

• Ensure risk management practices align with regulatory requirements
• Support compliance teams in regulatory filings or responses.

Operational Risk Management

• Develop a clear and consistent operational risk management framework to assist the ventures and support functions in identifying, measuring and managing operational risks, with the intent to reduce associated loss events.
• Work closely with senior management to promote best practice and to ensure decisions are made on a risk-informed basis.
• Oversee the company-wide conduct of Risk & Control Self Assessment (RCSA) process in close collaboration with senior management and risk champions to ensure consistent implementation of the RCSA approach and related risk management guidelines.
• Oversee the operational risk incident management process to ensure that incidents are recorded, managed, reported and escalated where appropriate and work closely with stakeholders in the proactive management and resolution of the same.

Strategic and Financial Risk Management

• Work closely with key stakeholders to develop a transparent, consistent and comprehensive program for managing financial and strategic risks.
• Regularly identify, assess, monitor and report on the most significant evolving risks facing the company.
• Provide thought leadership and advice on managing strategic risks to ensure that strategies and plans are built and delivered in line with risk appetite and risk management principles.
• Lead UBX's Regulatory Compliance Program, including the development, implementation and monitoring of policies and procedures to comply with regulatory and corporate governance requirements.
• Perform ongoing monitoring of the regulatory environment for changes in regulations, particularly those that impact the company's business lines. Perform regulatory gap analysis as required, including articulation of the practicable implications of regulatory changes to the operating environment, and advise management on any required changes to policies and procedures.

Qualifications and Competencies

Competencies (behaviors / characteristics expected /needed for the role)

• Knowledge of financial services, regulations, and risk enterprise risk management principles.
• Highly developed leadership, strategic, critical thinking, and relationship management skills.
• Highly developed analytical and problem solving skills
• Ability to collaborate effectively with various stakeholders outside own team structure
• Demonstrated judgement in escalation, ensuring risk-based clear line of sight for senior management into existing and emerging issues/incidents.
• Demonstrated thought leadership and application of risk identification and mitigation practices and procedures.
• Ability to work independently and with proven stakeholder management expertise.
• Excellent oral and written communication skills with advanced skills related to the preparation and submission of regulatory, statutory, and risk/compliance reports.
• Ability to act proactively and multitask with a good eye for detail.
• Strategic and critical thinker, excellent organizational and problem solving skills.
• Ability to manage and prioritize multiple tasks and work under demanding conditions with many interruptions.
• Deeply passionate about startups, technology, and innovation.
• A true team player.

Qualifications:

• Bachelor's degree in a business-related course
• Minimum of 5+ years experience in a risk management role, preferably from a banking or financial institution.
• Appropriate and relevant skills related to all areas of risk management.
• Experience in risk management and evaluating business operations including finance, sustainability, efficiency, and management.