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Manager, ORM Risk & Control - Risk Management

Req ID:  4658
Job Description: 

Summary

To assist and support the Senior Manager, Operational Risk Management Department in facilitating the bank-wide including Subsidiaries in implementation of ORM processes and tools by BUSU and interpreting the ORM data. This comprises identifying emerging relationships within and between various ORM data sources. The coordinator will use this information to make direct recommendations and help formulate indirect ORM policies, strategies, methodologies, tools, and systems that would enable the management of operational risk as a separate discipline within the Bank.  The coordinator will also assist in the continuous monitoring and reporting to senior management on the ORM tools implementation status and progress of various areas of the Bank.

 

Duties and Responsibilities

1. To strengthen the Bank’s ORM Framework and capabilities to be in accordance with best/market practices.  Keep abreast with the latest development/new approach/technology in managing Operational risk.

2. To ensure the Bank complies with regulatory requirements with respect to ORM practices.

3. To facilitate BUSU identify all inherent OR within the Bank’s products, activities, processes, and systems by considering both internal and external factors that affect event occurrences.  It must cover all ORs including those that the Bank can or cannot control and the causes for the OR to occur.

4. To facilitate BUSU assess and measure the Bank’s vulnerability or exposure to all identified ORs associated with any products, activities, processes, and systems.  This is to allow BUSU to identify the most critical ORs and prioritize the risk mitigation strategies.

5. Perform independent assessment and validation on various relevant policies/guidelines/manuals/ procedures of the business and functional lines in ensuring that it is meet the minimum adequacy controls standards and viable in mitigating and addressing the risk identified.

6. Validating and challenging the results of operational risk management activities of the business and functional lines and evaluate potential risk exposures or gaps. To make recommendations in introducing new mitigation controls to prevent risk events.

7. Following-up with business and functional lines to ensure implementation on recommendation/action point is completed within the specified timeframe. 

8. Reviewing new key processes / activities / product / services to identify potential OR and provide independent opinion / recommendations on ORM and adequacy of control in various operational areas, if and where appropriate

9. To examine and report on the cross-tool ORM data, cross BU and SU ORM data and related information to ensure that correlations, diverse trends, concurrences, and anomalies are reported upon and made actionable.

10. To ensure all ORs are adequately and effectively controlled and monitored via ORM tool implementation, that the OR exposure is reduced to acceptable levels by way of implementing the established internal controls, introducing new mitigation controls and/or take actions to correct deficiencies in the processes, procedures, and systems to prevent OR events or OR losses to get larger.

11. To ensure all relevant OR data is analyzed and transformed into action plans.

12. To ensure that all OR issues are reported to higher authority and appropriate and effective mitigation actions are taken to contain or mitigate the OR exposure.

13. To ensure integrity of ORM reporting including ORION reporting to BNM.

14. Involves in ORIS implementation/ enhancement

15. To promote risk-aware culture bank-wide.

16. To work together with Shariah Risk Management on the Shariah risk to be in-line with ORM approach.

17. Assess the ERU/BRO/SRO and RC performance end of year.

18. Any other duties/assignment as and when directed/assigned by the superior from time to time / as per current year KPI.