Job Information
Risk & Compliance Officer
Overview
Job Type: Full-Time
Job Category: Banking/Finance
Location: 
Requirements
Minimum Education: College Degree BA/BS
Degree Title:
Minimum Experience: 3 Year
Job Status
Start Publishing: 10/23/2017
Stop Publishing: 12/27/2017
Description

Role Definition

The Risk & Compliance (R&C) Manager will :-

  • assist Line of Business (LoB) leadership in the supervision, monitoring and management (within appetite) of a number of non-market and credit risks, including operational and compliance risks for the LoBs to which they are assigned.
  • assist LoB leadership to drive a strong, embedded risk culture that optimises risk / reward and helps achieve efficient business objectives.
  • protect the business by assisting the business in carrying out effective risk practices and to continuously improve them.
  • be responsible for ensuring that the RCM process is managed and maintained in line with 3 Lines of Defence frameworks and policies (Note : ultimate accountability for LoB risks rests with the GM-1 who manages the LoB).

Major Responsibilities:

Basis : 1LoD responsibilities from 3 lines of defence frameworks and policies

*Note : ultimate accountability for LoB risks rests with the GM-1 who manages the LoB

Risk Culture

Assist LoB leadership in;

-        establishing, maintaining and monitoring a risk aware and safe escalation culture led from the top maintaining clearly defined roles, responsibilities and accountability across 1LoD and 2LoD.

-        implementing outcome-focussed risk and control solutions that optimise risk/reward balance.

-        timely and appropriate risk and compliance training of Business Unit staff.

-        driving and embedding a risk and compliance culture and awareness in day-to-day business decisions and business strategic initiatives.

-        operating effectively, within the approved risk & compliance appetite and in line with 3LoD policies and frameworks.

Business Response to Compliance Obligations

Facilitate LoB leadership in working with Specialised Compliance (2LoD) to;

-        identify and understand all of the obligations relevant to the lines of business based on business activities.

-        identify processes that are undertaken in order to comply with each compliance obligation.

-        ensure that compliance plans remain current with legislative changes.

E2E Processes, Risk Profile and Inherent Risk Assessments*

Facilitate LoB leadership in ensuring;

-        processes and procedures have been implemented for managing specific operational risks and compliance risks in the business lines products, activities, processes and systems.

-        the completeness of the risk profile through analysis of the internal business activities/processes to identify inherent risks (operational risks including risk of non-compliance).

 

E2E Controls*

Responsible for ensuring;

-        completeness of key controls E2E that if operating effectively either reduce the likelihood of the risk occurring or reduce the potential impact if the risk occurred.

-        the ongoing Design and Operating Effectiveness assessment of controls by the 1LOD.

 

Supervision/Monitoring*

Responsible for ensuring;

-        KCI/KRI and tolerance limits have been agreed in consultation with LoB leadership and 2LoD advisory functions.

-        action plans have been developed by LoB Leadership and implemented to address weaknesses and failures, prioritising areas of focus and securing funding pathways.

-        the LoB ownership of the identification, assessment, management, monitoring and reporting of risks and incidents arising within the business.

-        LoB leadership self-assurance processes to demonstrate continuous operating effectiveness in a structured, documented manner with supporting evidence.

-        regular reviews by LoB management to ensure the ongoing relevance of the risk appetite statement, its supporting metrics and thresholds.

Incident Management

Assist LoB leadership in;

-        identification, assessment, management, monitoring and reporting of operational risks, compliance risks and incidents arising within the business.

-        the complete and accurate recording of incidents and the appropriate assessment and resolution of incidents.

Reporting*

Responsible for ensuring

-        the timeliness and accuracy of risk reporting and management dashboards.

Objectives:

Enhance risk-return within our risk & compliance appetite

Embed adequate controls to mitigate undue risk

Supports the identification and implementation of process and control improvements

Achieve compliance with regulatory obligations.

Key Performance Indicators:

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Upward trend in DE and OE of controls

Downward trend in 3LoD Audit Findings (driven by completeness of controls documentation including 1LoD management identified action plans for weaknesses/gaps)

Currency and accuracy of Dashboard KI month on month

Downward trend in the number of qualifications in GM/GM-1 attestations

Positions Requirements:

Competencies:

Risk Specific Competencies

Compliance Knowledge

Intermediate

Policy Development and Implementation

Intermediate

Regulatory Knowledge

Intermediate

Risk Monitoring and Control

Advanced

     

Business-wide Competencies

Collaboration

Advanced

Communication

Advanced

Consulting and Advisory

Advanced

Continuous Improvement

Advanced

Influencing and Negotiating

Advanced

Innovation

Intermediate

Organisational Values

Advanced

Planning and Quality

Advanced

Problem Solving

Advanced

Project Management

Intermediate

Research, Monitoring and Analysis

Advanced

People Leadership

Intermediate

Stakeholder Management

Advanced

Knowledge and Experience:

  • 5+ years of specific business / operations experience in a relevant area of the same or another financial services organisation; or
  • 5+ years of operational risk / compliance management experience in the same or another Business Unit within the Group; or
  • 5+ years of operational risk / compliance management experience in a relevant area in another financial services organisation; or
  • 5+ years of operational risk / compliance management experience in a consulting / audit firm with financial services experience.
  • Demonstrable experience of influencing senior business leadership teams, strategic thinking and prioritisation.
  • Demonstrable experience of translating the complex into the simple and communicating with passion.
  • Relevant industry qualifications (risk, compliance or business-related).

Key Business Relationships/

Interactions:

GM, GM-1, GM-2

Assurance

Group Assurance

and Enterprise Compliance

Key stakeholders in the E2E value Chain for the Business Unit ( Finance, Risk, IBS,   Technology)

Qualifications
Prefered Skills
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