Hong Leong Assurance Berhad Hiring! Full Time Financial Risk Manager in Selangor - Ricebowl

The Manager Operational Risk is responsible for overseeing the implementation of the operational risk framework, ensuring effective risk identification, assessment, monitoring, and reporting across the organization. This role plays a key part in promoting a strong risk culture and ensuring compliance with regulatory expectations.

Functional (job responsibilities)

Risk Review and Monitoring

Risk Control Self-Assessment (RCSA)

• Oversee the RCSA exercise, including evaluation and compilation of results.
• Review business unit risk registers to ensure risks associated with HLA’s significant activities are properly identified, assessed, and mitigated.
• Identify HLA’s key risks and incorporate them into the enterprise-wide Risk Heat Map.

Key Risk Indicators (KRI)

• Assist in compiling and reviewing internal and external KRI data for effective monitoring and reporting.

Operational Risk Event Management

• Coordinate the assessment and compilation of operational loss event cases to provide management with insights into the actual cost of risk and control weaknesses.
• Facilitate root cause analysis and recommend remedial actions or control enhancements to prevent recurrence of similar events.
• Conduct ongoing analysis of risk event reporting to identify trends and emerging risks.

BNM Operational Risk Reporting (ORR)

• Coordinate with relevant stakeholders to prepare and submit Key Risk Indicators (KRI) and Loss Event Data (LED), ensuring the data is complete, accurate, and submitted in a timely manner.
• Assist in analyzing ORR KRI trends to monitor operational risk events reported by stakeholders, ensuring they remain within expected thresholds.
• Provide support in reviewing and interpreting ORR-related policy documents, FAQs, and reporting requirements to ensure compliance and consistency in submissions.

Policy Review

• Assist in the periodic and ad-hoc review of policies, frameworks, and procedures relevant to the Risk Management Department to ensure they remain current and effective.
• Support efforts to ensure compliance with applicable operational risk policies, internal guidelines, and external regulatory requirements.

Key Control Testing

• Coordinate the planning and execution of control testing for key controls identified through the risk assessment process.
• Oversee the System Automated Process Review and perform risk-based control testing to ensure proper closure and remediation of identified issues.

Management Reporting

• Coordinate the scheduling of Risk Management & Compliance Committee (RMCC) meetings and the preparation of supporting materials on a periodic basis.
• Coordinate the preparation of monthly reports for EXCO meetings, as well as periodic reports and operational risk dashboard materials for GBRMC meetings.

Outsourcing risk

• Coordinate outsourcing reviews, including due diligence exercises, assessments, and gap analyses, as required.
• Coordinate the annual performance review of Outsourcing Service Providers in collaboration with relevant business units.
• Coordinate with relevant stakeholders to prepare and submit annual outsourcing plan to BNM.

Others

• Assist in liaising with and following up with relevant stakeholders to obtain responses for external surveys and regulatory submissions.
• Support operational risk-related activities, including risk assessment, risk monitoring and independent process reviews, as required.
• Maintain clear, organized, and systematic documentation of all assigned tasks.
• Carry out additional responsibilities as delegated by the Head of Enterprise Risk Management.

Managerial (team/group responsibilities)

• Lead, guide & support team/group members in the team to achieve relevant KRAs.
• Provide support to team/group members where necessary within department & across units.
• Support overall relevant assigned tasks.

Managerial (team/group responsibilities)

• Lead, guide & support team/group members in the team to achieve relevant KRAs.
• Provide support to team/group members where necessary within department & across units.
• Support overall relevant assigned tasks.

Education/Qualification

• Bachelor's Degree in Risk Management, Finance, Economics, Accounting, Actuarial Science or related fields.

Experience/Requirements

• Knowledge of Operational Risk and Outsourcing.
• Proficient in Microsoft Office/Power Point/Excel applications.
• 8 years relevant working experience in Operational Risk function in financial institutions, preferably Insurance industry.
• Strong analytical and report writing skills. Excellent communication and stakeholder management. Able to work independently with minimum supervision.