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Job Overview The Risk Controller (RC) role is responsible for and has oversight over Operational Risk management, control management and audit management across the function/unit that has been assigned to the role. This role is key and responsible for applying the function's approach to risk identification and mitigation, control management and audit engagement within the framework set out by the relevant authorities. This operations role ensures a constant state of preparation, readiness and continuous improvement across process, risk management and reduction, audit success, documentation, MIS systems and reporting.
Assist the Unit Manager in coordinating, driving, and directing effective compliance with the prescribed operational risk management framework
Support SORO/UORM /Unit Manager in driving the implementation of effective controls to minimise / mitigate operational impact
Continuous monitoring for effectiveness and efficiency of controls leading to effective management of Operational Risk.
Drive the understanding and practice of Operational Risk within the Unit
Suggest / Facilitate Implementation of controls within the business unit to meet all regulatory and internal requirements.
Support UORM/SORO in implementation of OR policy guidelines, review of existing control checks/KCSAs and process reviews
Support in smooth conduct of Unit Level Risk Committee Meetings
Execute risk / control reviews as per plans and in consultation with the Unit Manager/UORM
Track to closure, all actions and risks arising from the reviews
Ensure that the affected Unit is sufficiently prepared for upcoming audits
Review and advice Unit Manager /UORM on the adequacy of management response to audit findings for the Unit
Monitor and track progress and timely closure of audit findings
Share thematic risk & audit findings across units.
To ensure updating of all risk/loss related issues in Phoenix and escalation to Unit Manager/UORM as applicable.
Compliance with all applicable process procedures, guidelines, rules & regulations of company and Group Policies relating to Risk
Ensure unit specifically complies with Group Money Laundering Prevention / Sanctions Policies and Procedures to the extent applicable and reports all suspicious transactions to the risk authorities and stakeholder groups.
Process Risk Analysis (PRA)
Execute PRAs as initiated by Unit Manager/UORM, to support efforts in reviewing process and control effectiveness and risk identification (in consultation with Process Ownership)
Track to closure, all actions arising from PRAs
In conjunction with guidelines in force, facilitate to design and propose control enhancements to Unit Manager for consideration
Ensure the Risk Register is updated and approved for the unit.
Risk Committee Meetings
Facilitation of pack production for the unit risk committee meetings
Provide challenge to ensure robust compliance to OR policies and framework
Submission of risk and control related details to functional risk forum within schedule and at the required quality
Facilitate, Coordinate and consolidate operational risk and loss reporting of the unit for the reporting to the BORG, Unit Manager and Business Unit Head. Ensure data accuracy and completeness.
Root Cause Analysis (RCA)
Assist the Unit Manager / Department heads to complete the Root Cause Analysis (RCA) report for below events
Audits rated "Failed" or "Improvement required" for Critical Processes
Material negative regulatory findings for Critical Processes
Single operational risk event where the gross financial loss is greater than USD 2m
Single operational risk events where the actual or potential reputational impact is rated '4' or '5'
Ensure integrity of source and the processing of data to deliver accurate representation in management information
Validation of Controls: Key Control Self Assessments (KCSA) or Control Sample Testing / Key Risk Indicators (KRI) & Key Control Indicators (KCI)
Continuous monitoring of key controls. Validate sampling techniques, results and exceptions arising thereof
Obtain, agree and track to closure of treatment plan from responsible parties
Provide Unit Manager periodical view of status and progress
Contribute towards / Facilitate implementation of control measures and monitoring plans for compliance and operational risk management. Ensure effectiveness of controls for compliance monitoring and risk management.
Issue Management (records in Phoenix)
Investigate, document and report risk events and treatment plans on Phoenix in conjunction with Unit Managers and keep them updated
Ensure that the OLEs and ORIs are updated and approved on a timely manner
Unit Line Managers and Process Owners within and outside of the unit in the management of controls
Peer RPs in other units in managing cross functional risks and sharing of best practices
UORM/SOROs for advice and guidance and steering with regards to group initiatives
Group Operational Risk (GOR) for interpretation and effective implementation of its Policy and Procedures
Legal & Compliance for interpretation of and consultations on regulatory requirements.
Group Internal Audit and external auditors on audit and reviews.
Effectiveness of the controls and monitoring of operational risks and controls at the Unit level
Zero overdue actions arising from PRAs, Risk Reviews, Control exceptions, audit findings etc.
Satisfactory results on audits undertaken by Group Internal Audit, FSA, regulators and external auditors (relating to the unit)
Timely reporting and escalation of all operational risk exposures and control failures to comply with OR policies and framework.
Monitoring and adherence to timelines on Risk & Control or Group initiatives.
Cross team collaboration - proactive engagement with stakeholders
Free access to Unit Head, Line Managers, peer RPs / Risk Managers and Process Governance team
Free access to all documents and records within the purview of the Unit Head and for area of responsibility, with the exception of info governed by specific policies, e.g. Chinese Walls
Free access to all meetings under jurisdiction
Recommend and implement actions and solutions to mitigate operational risks and enhance compliance at the Unit level
Apply now to join the Bank for those with big career ambitions.
Internal Number: 5650707
About Standard Chartered Bank Malaysia Berhad
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