Senior Risk Management Specialist, Third Party Oversight

1 month ago


Singapore Scotiabank Full time

Overview

This role contributes to the overall success of the GBM Internal Control team in Asia Pacific by working with GBM Asia Pacific management to ensure business strategies, goals, and core values are executed/delivered in alignment with GBM's strategies and in compliance with governing regulations, internal policies, and procedures.

Main Accountabilities

  • Champions a customer-focused culture to deepen client relationships and leverage broader Bank relationships, systems, and knowledge.
  • Understands how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions.
  • Actively pursues effective and efficient operations of his/her respective areas in accordance with Scotiabank's Values, its Code of Conduct, and the Global Sales Principles, while ensuring the adequacy, adherence to, and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions, and conduct risk.
  • Performs the 1B function of the Bank's Global Third Party Risk Management (TPRM) Program in APAC and fulfils the associated accountabilities.
  • Adapts and implements the Bank's Global third-party risk management process in APAC, including supporting the implementation of APAC regional regulatory requirements relating to outsourcing, such as MAS Guidelines on Outsourcing in Singapore (and MAS Notice 658 effective 11 Dec 2024), HKMA Supervisory Policy Manual module SA-2 on outsourcing in Hong Kong, and other regulatory requirements relating to outsourcing.
  • Administers and manages global and regional third-party risk assessment and control process, responding to issues when identified, and identifying significant issues to the Global and Regional Third Party Risk Management Committees.
  • Establishes, maintains, and regularly updates the third-party risk management process in APAC.
  • Develops and ensures implementation of recommendations to mitigate identified risks, including those associated with business continuity management.
  • Partners with and provides 'sounding board' guidance to the business lines, technology groups, and control and support units to ensure new initiative sponsors assess risks appropriately through the NIRA (New Initiative Risk Assessment) process.
  • Responsible for leading/participating/working closely with the senior leadership Regulatory and Business Initiatives Group (RBI) in Toronto on GBM's regulatory programs in the region for selected regulatory initiatives (e.g., OTC derivatives trade reporting remediation work) and in that capacity, driving results by working with the business lines and internal stakeholders to understand the regulatory framework, develop plans, and oversee/project implementation to ensure ongoing compliance.
  • Assists Management with ad-hoc requests and special projects.
  • Works as a team to complete all other operational risk oversight 1B line of defense activities for Asia Pacific.

Requirements

  • University degree in Accounting, Business Finance, or Risk Management, or equivalent tertiary education.
  • At least 4-5 years' experience in the areas of outsourcing risk management or related operational risk oversight (1B line of defense) function.
  • Experience within a large financial institution is highly preferred.
  • Strong knowledge in operational risk management policies and procedures.
  • Strong data analysis skills.
  • Knowledge in Information Technology and Security is desired.
  • Excellent verbal and written communication skills; ability to effectively communicate with senior leadership team and 3rd parties.
  • Superior business and analytical skills, ability to focus on key issues and solve problems.
  • Strong attention to detail.
  • Ability to balance competing or conflicting goals of various departments/stakeholders.
  • Demonstrated ability to collaboratively work in a team environment under tight deadlines.
  • Expert analytic and problem-solving capability.
  • Ability to primarily focus on day-to-day operational execution on an independent basis.


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