Business Risk Manager - PB COO

Tasks and responsibilities

• Develop and maintain a comprehensive framework for risk assessment and control for all relevant risk types within the First Line of Defense (FLod) of the Global PB COO Singapore, to ensure effective oversight of the control testing program and meet stakeholder expectations through an objective and balanced “tone at the top.”
• Lead and implement a risk-based control monitoring program across key operational risk assets in cross-border operations to ensure compliance with banking and local requirements, including detailed, structured testing and reporting.
• Managing and conducting regular business audits and monitoring key control objectives to identify process deficiencies and emerging risks, as well as tracking corrective actions related to risk awareness and fairness to customers.
• Reviewing and overseeing the implementation of business controls, as well as reviewing and overseeing ad hoc audits or audits conducted as needed. Where management actions are required, consistent standards are ensured in risk management and control testing methodologies.
• Analyze all FLod activities to identify control weaknesses and corrective actions in collaboration with the relevant stakeholders.
• Support and implement improvements to processes and controls; ensure that risk processes comply with internal policies and local regulatory requirements in Singapore.
• Providing independent and objective opinions on process changes, risk management, and emerging risks, or as needed.
• Collaborate and coordinate with the Second Line of Defense, Global Financial Crime, and other internal stakeholders to identify, assess, and mitigate risks, and to strengthen the implementation of appropriate measures.
• Supporting changes and escalating problem-solving efforts; providing guidance on the implementation of new operating procedures or regulatory exemptions where the risk budget, customer fairness, and emerging risks are affected.
• Responsibility for and management of the flood risk map for Global PB COO Singapore; defining key KPIs for monitoring activities and data entry into management reports; and tracking the risk profile.
• Provide professional guidance to front-office staff on investment advice and client onboarding procedures, as well as local regulatory requirements, while serving as a trusted advisor to the business.
• Build and maintain strong relationships and credibility with key contacts, the Second Line of Defense, and Global Functions to support local risk-related decisions.
• Provide guidance and support to junior team members and new hires to establish consistent standards for risk assessment and control testing for senior team members.
• Leading or co-leading specific risk-related projects and change initiatives, as well as contributing to ongoing business risk management and the FLod at Global PB COO Singapore.
• Designing and providing input for thematic reviews and investigations into broader risks, which are not, however, limited to assets and cross-border risks.

Requirements

• More than 10 years of experience in business risk management in private banking (asset management), with experience in FLod frameworks and emerging risk areas such as cross-border operations and fraud prevention.
• Experience in providing risk advisory services to front-office staff regarding assets and relevant risk awareness.
• Strong analytical skills to interpret risk and control data (e.g., transactional and operational data) and derive meaningful insights and recommendations.
• Sound judgment in risk assessment, influencing the status quo, and providing independent recommendations for action