Job Responsibilities
- Responsible for leading and managing ICR function; i.e. ensure that the scope, depth and frequency of the review is commensurate with the significance of a particular area or activity to the Bank's credit risk profile.
- The scope of work includes, but is not limited to, the following: whether credit decisions are in compliance with the credit risk strategy and internal credit risk policies; quality of credit risk assessment and rigour of credit approval processes; reliability and accuracy of the materials / information obtained for credit decisions (e.g. financial analysis, management reports, etc.); scope, effectiveness and timeliness of credit risk monitoring activities; accuracy and timeliness of ratings assigned to counterparties; appropriateness of credit classifications and provisioning levels; and compliance with the applicable and relevant regulatory requirements (including AMLATFA related controls).
- In the course of review, the focus should at least include: identifying material credit and other related risks, evaluating control effectiveness and recommending appropriate mitigation for managing such risks.
Major Accountabilities
1. Annual Planning
- On annual basis, the OIC shall undertake the risk-based planning for identifying critical areas to be included in the ICR annual plan; and to develop a flexible review strategy using appropriate risk-based methodology (that covers business process risk assessments for key business lines).
- To establish work plans (including project schedules) based on the ICR annual plan; and to execute the project accordingly. The OIC shall monitor status of completion to ensure deliverables are met.
- The credit coverage shall at least include:- retail borrowers, commercial & corporate borrowers, financial institutions, commercial bond issuers, etc.
2. Project Planning
- Preparation, planning and execution of an efficient, cost effective ICR review; identification of emerging issues that may impact the Bank's credit risk profile; and development of review programs (or test steps) and methodologies.
3.Project Execution
- Each review project shall be diligently performed; whilst the outcomes of the review shall be adequately supported with detailed assessment; which include evaluating the adequacy of the credit risk profile in meeting business and control objectives.
- Ensure the department's standards are maintained in completion of project/ assignments.
4. Problem Identification & Resolution
- Identify and assess materiality of risk & control weaknesses ensuring facts are gathered and full meaning is understood. Also, to identify underlying causes of risk & control weaknesses and provide practical recommendations as to how they can be mitigated.
- Draft out the credit issues/findings (which are identified from the ICR review); together with the corresponding responses/action plans for discussion with the responsible department(s) and subsequently presentation to the management.
- Follow-up on the outstanding credit issues (which are identified from the ICR) for timely resolution.
5. Reporting
- For each project/review, the OIC needs to express an opinion on the effectiveness of and adherence to the credit risk management processes, internal controls, governance arrangement; as well as applicable laws and regulations upon completion.
- As regards, the OIC is responsible for preparing reports; i.e. providing concise & accurate information on the condition of the areas/activities reviewed and adequacy/effectiveness of the risk management controls over the credit related operations.
- The OIC shall report timely the outcomes/issues of, including any recommendations arising from, the ICR review to the SM, AC & BRMC respectively.
6. Self/Staff Development and Teamwork
- Prepare periodic or annual performance self-assessments for measurement of performance.
- Keep abreast of changes in laws, regulations, professional standards and changes in the Bank that could affect the business risk profile.
- Manage the development of staff by providing direction and coaching; sharing of technical skills/knowledge to other staff through peer discussions (where applicable).
7. Internal/External Communication
- Maintain effective communication with the internal and external parties; which include the relevant departments, the management and the regulators.
- Maintain a professional relationship with the internal audit function in a co-operative manner and with effective communication. * Note: In the event of disagreements between the ICR function and internal audit function (arising from the internal audit assessment); CCO shall on best effort find an amicable resolution within a balanced perspective
8. Others
- As advised by the CCO or requested by the Management, to carry out specific projects or investigations.
Job Requirements
- At least a Bachelor degree in finance, banking, accounting or equivalent from a reputable university. Possesses the professional certifications; (i.e. CBA, Professional Credit Certification in Business and any other recognised credit professional certifications) will be an added advantage.
- Minimum of 8 years of experience in broad knowledge of credit risk management is essential, covering credit products, risk management and operations.
- Strong analytical skills and resourceful of business/industry development.
- PC literate preferably in Windows Microsoft Office (e.g. Words, Excel, etc)
- Good communication skills in English and/or Mandarin (both verbal and written)
