AVP - Operational and Fraud Risk

JOB PURPOSE:

The selected candidate will assist the FAB USA Country CRO to sustain operational risk and fraud risk process and harness a strong Risk governance framework covering FAB Franchise in International Location.

The candidate is responsible for the development, implementation, management and assurance of the group-wide Operational Risk, Fraud Risk and BCM governance in order to facilitate secure and effective banking operations while mitigating risks and ensuring compliance. This entails risk control assessments for all departments including the risk department.

In doing this, he/she will work closely with the Group Risk Management units to ensure the Group methodologies, policies, and procedures are established in International Location. Additionally, the potential candidate will build, produce and regularly update the risk report suite to ensure consistency and compliance with the bank's risk tolerance.

KEY ACCOUNTABILITIES:

Governance

• In conjunction with, and as required by the Country Chief Risk Officer, manage the Operational Risk, BCM and Fraud Risk framework s for Country and Group Risk & Compliance Committee.
• Provide regular reports to Country CRO on location's risk profile with mitigation plans. Assist the Country CRO & Committees in the taking appropriate decisions to manage the risk profile within the set appetite.

Strategy Development and Implementation

• Assist the Country Chief Risk Officer in formulation, implementation and delivery of the FAB Franchise in International Location's risk strategy in line with the vision, mission, values and priorities.
• Maintain, execute and continuously improve FAB Franchise in International Location's risk management strategy, frameworks and tolerances to assess and mitigate the risk and to ensure the region operates within its predefined risk appetite, aligned to the group's risk & business strategy.

Operational Risk

•  Oversee the FAB Franchise in International Location's Operational Risk Management, reporting operational risk profile, ratifying and recommending relevant Operational Risk management actions and mitigation strategy.
•  Roll-out the bank's policy re Operational Risk Management in FAB Franchise in International Location; Review/approve local business policies and standard operating procedures
•  Facilitate the KRI & RCSA set-up for FAB Franchise in International Location incl. threshold definition; monitor KRI's that are in high-risk categories
• Review loss and incident data incl. actuals, near miss or potential events across FAB Franchise in International Location
• Monitor KRI data specific to FAB Franchise in International Location re breaches against acceptable thresholds; review the corrective actions taken in regard to breaches
• Run the risk assessment procedures across FAB Franchise in International Location and monitor / review corrective actions for loss incidents. Review root cause analysis and corrective actions; monitor status of corrective actions
• Prepare the reports for the submission to local regulators and calculate / monitor capital adequacy with regards to OR capital requirements

Risk Management Operations

• Monitor the periodical review of the products and processes and provide risk mitigation controls while ensuring the accurate identification of risk exposure in new products and services to ensure that risk implications are appropriately considered and mitigated.

Policies, Systems, Processes & Procedures

• Assist in development and effective implementation of risk policies (Operational Risk and Fraud Risk procedures and controls covering all areas of assigned FAB Franchise in International Location so that all relevant procedural/legislative requirements fulfilled while delivering a quality, cost-effective service.
• Contribute in development of a risk culture within the assigned FAB Franchise in International Location to drive heightened awareness and understanding of prudent risk management practices; work with other risk teams on technical aspects so that key stakeholders are equipped with the necessary knowledge and capability to take risk-based decisions on behalf of the Group.
• Stay in regular contact with Group Risk Heads to ensure that the policies, procedures, models, processes, mitigation factors and plans are in alignment with the group risk mitigation and monitoring strategies.

Risk Management Framework

• Assist Country CRO in implementation of risk management systems, policies, procedures and reports for Operational Risk and Fraud Risk in partnership with Group Risk heads.
• Assist in the development, implementation and maintenance of risk self-assessment plans, include programs, systems and standards relating to operational risk in order to mitigate risk.
• Update and manage the risk control self-assessment process and managing overall project
• Being 2nd line of defence for Operational and Fraud Risk
• Working closely with all stakeholders in the RCSA process including senior management locally as well as in Head Office
• Develop a comprehensive Risk Review mechanism for operational risk and Fraud Risk policies & procedures to assure consistency, comprehensiveness, and adequacy to enable an effective operational risk management process, and the same are adjusted as appropriate to reflect changes in the risk profile.

Fraud Risk Management

• Manage Fraud Risk Management Framework as per policy and procedures and regulatory guidelines by the OCC.
• Working closely with FAB USA Compliance team in identifying, analysing and reporting of fraud risk in a timely manner
• Liaison with HO Group Fraud Risk Team on all fraud incidents
• Educate the FAB USA on Fraud matters, tabletop exercises and general fraud awareness
• Present Fraud Risk status at monthly risk committee
• Work closely with Information Security Officer ensuring no overlap and gaps
• Stay informed about fraud risk best practice and industry changes forward looking risk-based approach
• Business Continuity Management
• Drive and manage the banks BCM framework and activities in line with group BCM policy and local regulatory requirements.

Risk Support

• Overall support of the risk function in FAB USA ensuring coverage of all areas of the risk business and all risk categories.

Incident/Disaster Management

• Assist the Group BCM function in the identification and establishment of disaster recovery site if required in coordination with IT and other relevant functions in order to mitigate the risks in the event of a disaster or operational disruption.
• Maintain the operational effectiveness and readiness of the disaster recovery site through conducting regular inspections and ensuring that all information and data can be stored safely, so that the integrity and confidentiality of the FAB Franchise in International Location's memory is fully protected and easily restored in the event of disaster or incident.
• Ensure that the recovery capabilities meet the business requirements through conducting regular testing in coordination with IT and analysing the future business needs, so that the decisions related to the design and procurement of the new recovery infrastructure are facilitated by key inputs and facts.
• Ensure maintaining a log of incidents and review reports before presenting to the top management to ensure they are comprehensive and accurate in their key findings and provide value added recommendations for improvements of the business continuity plans.

Change Management

• Participate in management of change through continuous improvement of functional systems, processes and practices considering global standards and changes in the business environment which demand proactive action plans

Relationship Management

• Maintain effective business relationships with all relevant external/internal entities (such as government authorities, other financial institutions, key stakeholders etc.) and all sections with the highest standards of business ethics, whilst promptly attending to all critical issues in-order to ensure the services required by the organisation are delivered in the most effective manner.

Reporting

• Ensure that all functional reports are prepared timely and accurately and meet location & Group requirements, policies and quality standards.

Minimum Qualification

• Bachelor’s degree in finance or related discipline.
• Master’s degree in business administration, or a related discipline is preferred.
• Professional Certification in CFA, FRM, or a related discipline is preferred.

Minimum Experience

15 years’ relevant experience in the banking sector with at least 5 years in similar positions of progressively increasing managerial responsibilities in the Enterprise risk management function.