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The Risk Governance & Operational Risk Department sits within the Risk Management Division.
As a 2nd Line of Defence function, the Risk Governance & Operational Risk Department's key contribution is strengthening Income's internal control environment through oversight of risk management practices within the company, provision of guidance on the operational risk management framework and regulatory risk requirements, and performance of reviews of company processes and controls, of which outsourcing/vendor management is a key component.
Provide guidance to Business Units on the implementation of the Outsourcing Framework and adherence to regulatory requirements
Coordinate with Business Units / Contract Owners on periodic due diligence and risk evaluation reviews on third party / outsourced providers
Review due diligence and risk evaluation material submitted by Business Units
Maintain and update the register of outsourcing arrangements for regulatory reporting
Prepare regular reports on outsourcing for internal stakeholders and the regulator
Perform onsite visits to outsourced providers and conduct training for Business Units, as needed
A degree in finance, accountancy, business or related field of study
At least 3 years work experience in the financial services industry
Minimum 1 years of relevant work experience in Outsourcing Risk Management, preferably in the insurance / banking sector
Dynamic and self-motivated individual with a strong grasp of internal controls and risk management principles, and a good sense of business acumen
Ability to demonstrate analytical and problem-solving skills
Strong interpersonal, negotiation and communication skills, with good writing ability
Internal Number: 6496555
About NTUC Income Insurance Co-operative Ltd
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