Business Risk Specialist- Monitoring
1 month ago
General description
This position within the business risk management department is responsible to perform the monitoring & assurance (M&A) reviews in accordance with the M&A framework with a set of globally aligned methodologies, as well as location specific reviews.
The incumbent will monitor any non-adherence to the existing requirements as set out in the bank's policies and highlight any potential misconduct and emerging risk to the relevant forum and parties. Additionally, the candidate is expected to provide coaching and training to staff being monitored to enable them to meet policy & procedure requirements.
Main duties
- Perform quality assurance check, coach team members/global counterparts on surveillance methodology and best practices
- Conduct sampling and reviews based on a risk-based program to assess that client facing staff meets the regulatory requirements and internal policy requirements, primarily on fair dealing practices, client suitability, sales and dealing practices, staff conduct matters, pricing, periodic reviews, and gift and entertainment controls.
- Generate and implement automation and process enhancement ideas
- Analyse and identify any potential gaps in existing operational procedures
- Analyse data to identify any potential emerging risk and systemic trends from the m&a exceptions result and propose mitigating actions
- Maintain internal documentation as evidence of work done.
- Explain M&A findings to staff and/or team being monitored.
- Manage stakeholders' expectations and ensure timely escalation.
- Consolidate and prepare surveillance findings and management reports to senior management.
- Collaborate with other control functions in clarifying policy and procedures requirements and assessment of potential regulatory breach assessments identified from surveillance check.
- Drive and/or participate in bank's or departmental projects.
- Coordinate internal training for client facing staff.
- Review and update the framework and methodology to align with the regulatory / market environment.
- Continuous collaboration with global offices in enhancing surveillance methodology and procedures.
- Liaison for audits and other ad hoc queries
- Participate in internal investigation especially relating to matters concerning staff misconduct issues.
Qualifications
Work experience requirements
- Minimum 5 years of experience in audit, risk and control or compliance function, preferably in private banking environment
- Good knowledge of regulatory and compliance requirements such as fair dealing practices
- High level of integrity, independent, adaptable and committed with high level of initiative
- Needs to be inquisitive and have strong analytical skills and attention to details, as well as comfortable with handling vast amounts of data
- Strong interpersonal and professional communication skills
- Excellent team and organizational skills working with cross functional stakeholders
- Consummate team player with a positive, pragmatic, flexible and creative approach.
- Proficiency in python and data analytic tools is a plus
- University degree or equivalent from a reputable institution
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