- Operational Risk Management
- Assist and guide functional unit on the implementation of operational risk management framework, tools and activities:
- Identify, assess and report operational risks and adequacy of controls; including making recommendations to update minimum control standards.
- Identify key controls and scope of as well as perform and report control testing.
- Identify, establish and report Key Risk Indicators.
- Review, verify and report loss events and amount.
- Governance, Risk and Compliance (GRC) Reporting
- Monitor, track, escalate and validate governance, risk and compliance issues (e.g. from compliance breaches, regulatory audits, compliance reviews, regulatory gap analysis) to ensure timely and proper closure.
- Advisory Risk & Control / Compliance
- Review of documentations (frameworks, policies, procedures, etc.) specifically on assessment of risks and controls.
- Review of new products and services, product variations and renewals and product documentations, particularly on identification and assessment of key risks and controls associated with the products and services.
- Compliance Management
Assist and guide business/support units on the implementation of Group Compliance framework, policies, procedures and relevant regulatory requirements:
- Act as the key liaison person between business/support units and Group Compliance (GC) for any compliance related matters including regulatory audits and compliance review.
- Assist to expedite the submission of the required information from business/support units to Compliance Monitoring team.
- Act as the key liaison person to discuss with the Compliance Monitoring team when there is a potential finding for further clarifications before the findings are finalized and presented to the business/support units.
- Act as the key liaison person to discuss with the Compliance Monitoring team on the action plans and overall target completion timeline.
- Ensure timely escalation of compliance breaches/issues to Group Head and Group Compliance and ensure adequacy of the corrective action plans, to ensure compliance to laws, regulations, standards, policies, procedure and internal framework.
- Coordinate and ensure proper dissemination all relevant regulatory or compliance bulletin/requests to business/support units and ensure satisfactory (i.e. review the adequacy of action plans) and timely completion of regulatory Gap Analysis (GA) for new / revised regulations (as and when requested) per GC's Gap Analysis Process Guidelines.
- Perform validation of action plans arising from GA / Attestation of Compliance (AOC) or instruction from regulators.
- Identify and develop key controls and assessment to address key regulatory requirements of new / revised / existing regulations with guidance from Group Compliance.
- Promote risk and compliance awareness e.g. by facilitating and conducting briefing, organizing group discussions and other forms of communication.
