Purpose of the Role -
- Responsible for advisory and assurance to ensure the Division/Department maintains an adequate and effective first line of defense based on the compliance and operational risk management programs;
- Promote and support the Division/Department to ensure adherence with applicable banking laws, rules, regulations and internal policies, procedures and processes. Ensure action plans are developed by the Division/Department to address the risk and control issues;
- Enable the effective execution of the operational risk and compliance risk framework throughout the Division/Department, with respect to identifying, quantifying, reviewing, evaluating, and mitigating risk to ensure that all compliance and risk categories are identified and managed in accordance with regulatory, internal policies and procedures requirements.
- Be the first point of contact for the Management of the Division/Department in providing independent advice, support, and assurance for risk & compliance matters within the division/ department, integrating business, risk & compliance knowledge. In the event of operational risk and compliance matters beyond Line 1.5 (RCU Heads) purview, to escalate the Line 1’s issues to to the Line jointly with Line 1.;
Scope of the Role -
- Responsible for management of operational risk and regulatory risk for the Division/Department across the legal entities or across the geography as stated in the appointment letter
- For external regulatory examination: the Risk and Control Unit Head is responsible to act as a liaison and address all concerns and requirements of regulators with respect to risks within their functional area of responsibility
- In the event of operational risk and compliance matters beyond Line 1.5 purview, Line 1’s escalation to Line 2 should happen jointly with Line 1.5
Consulted on the standard setting by Line 2, including providing division/department-specific inputs for frameworks, policies, procedures and risk appetite; Line 1.5 should not be expected to take a cross-divisional view, its mandate should only be within its own division/department
Skills Required
- Knowledge of applicable banking laws, rules, regulations and internal policies
- Experience in operational risk and compliance risk management and frameworks
- Ability to provide advisory and assurance as the first line of defense
- Experience developing and monitoring action plans to address risk and control issues
- Experience liaising with regulators and addressing external regulatory examination matters
- Strong stakeholder management, escalation, and communication skills
What We Do
CIMB Group is a leading ASEAN universal bank, one of the largest Asian investment banks and one of the world's largest Islamic banks. We are headquartered in Kuala Lumpur, Malaysia and offer consumer banking, commercial banking, wholesale banking, Islamic banking, and asset management products and services. As the fifth largest banking group in ASEAN, we have over 36,000 staff in 16 locations across ASEAN, Asia and beyond. CIMB Bank and CIMB Islamic Bank are members of PIDM.
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