Job Summary
The Dedicated Risk & Compliance Champion is responsible for managing Risk & Compliance matters within the Technology Division. He/She acts as the point of contact to escalate matters relating to the division to Risk Management Division as well as Compliance Division be it on Operational Risk, Compliance and Regulatory control matters/breaches and incidents.
Job Responsibilities
Process & Governance
- Provide advice and guidance to front line teams, as needed for existing or new regulations upon consulting 2nd Line of Defense.
- Assist to facilitate the development and annual review of operating manuals or procedures belonging to the division, working with the departments within the division, as well as other stakeholders which have dependencies or interdependencies with your Division.
- Act as a point of contact to escalate to division head on operational risks matters/breaches/incidents
- Assist to review any product and process documents arising from Product Risk Assessment and Process Risk and Control Assessment before submission to the Risk Management Division.
- To validate existing process, initiate changes (if necessary), address the gap, monitor execution of the action plan, timely closure for the following:
- Consolidated departmental/LOB's operational risk profile
- Product Risk Assessment or Product Variation outstanding matters (to work with the Risk Management Division).
- Process Risk and Control Assessment (to work with the Risk Management Division)
- Key Risk Indicator breaches
- Key Control Testing exception.
- Significant operational risk event/incident.
- Operational risk and regulatory control deficiencies highlighted by Compliance Assurance & Shariah Review Department, Internal Audit Division (IAD), External Auditor (EA), Bank Negara Malaysia (BNM), and other regulatory bodies - for timeline extension, to be duly approved by the Management.
- Self-declared/identified operational gap.
- Act as the point of contact for Technology Division in regard to reviews performed by Compliance Assurance & Shariah Review, and point of contact for coordinating/reviewing enquiries from regulators/industry associations as disseminated by Regulatory Compliance.
- Act as the point of contact for Technology Division with regards to audits and coordinate and review of evidence provided to auditors.
New Regulations, Policies, Guidelines applicable to the Division
- Assist to identify, review, assess impact of new/ revised regulations/standards/guidelines issued by regulators/industry associations and policies or guidelines related to Technology Division.
- Assist to conduct a gap analysis to ensure that Technology Division policies and guidelines are updated and in-line. Where needed consult with the Compliance Management Division (CMD) to address any challenges to facilitate adherence.
Controls & Testing
- Establish and implement checks and controls, including RCSA sample testing for all relevant regulations, risks and processes applicable to the division covered.
- To perform key control testing (KCT) to evaluate the execution and effectiveness of identified controls.
- To validate and coordinate Operational Risk monthly KRI and quarterly/ semi-annual/ annual KCT report and submit to RMD.
- To review and coordinate the annual and mid-year Risk & Control Self-Assessment (RCSA), KRI statements and KCT testing procedures and submit them to RMD.
Job Requirements
- Minimum bachelor's degree in computer science, information technology or a related discipline.
- Minimum 5-7 years of relevant working experience in regulatory compliance roles, operational risk and/or audit, preferably within the same industry (banking) or a related sector.
- Strong knowledge of applicable laws, regulations, and industry standards, such as financial regulations, data privacy, consumer protection, RMiT etc.
- Possess good leadership skills with ability to lead and collaborate with team members in identifying operational and compliance risks.
- Strong communication and interpersonal skills to effectively collaborate with stakeholders at all levels.
- Detail-oriented with good analytical, communication, and writing skills.
- Ability to work independently and prioritize tasks to meet deadlines.
