Key Responsibilities Risk Surveillance and Monitoring (RSM) will be a new unit set up within Singapore Consumer Financial Services (CFS) reporting into Group Head, CFS Risk and Prevention (R&P). RSM team is tasked to put in place a strong risk surveillance and continuous monitoring framework and procedures to drive effective and timely risk management for CFS. This is to be achieved through leveraging on the use of technology and advance risk data analytics, risk scoring, detection and monitoring methodologies, to pro-actively identify, assess, report and work with various CFS business stakeholders to risk mitigate material risk trends and incidences to meet all regulatory and policy requirements, minimizing CFS risk to within acceptable risk appetite and achieve strong CFS risk and control oversight. Within RSM there will be sub-teams, each led by a Risk Surveillance Manager reporting to the Head of RSM, covering their respective risk surveillance and monitoring scope:
FAA/SFA & Market Conduct Risk
Anti-Money Laundering / Countering the Financing of Terrorism (AML/CFT) & Sanctions Risk
Operational, Fraud, Digital and Technology Risk
Risk Surveillance Managers are expected to operate in close support and collaboration across teams in risk identification and mitigation activities. The RSM risk analyst plays an important role in the management, testing and detection of material risk and control lapses in the day to day operations of CFS businesses. The incumbent will report into the Risk Surveillance Manager, with opportunities to rotate, lead and take ownership in one of the following areas within their respective team:
Continuous audit risk insights and findings
Continuous self-identified and monitoring risk insight, trending and findings
CFS departmental control procedures and process testing and inspections
The individual is expected to contribute towards the success of RSM in performing the following tasks as part of their career in RSM:
Meticulous tracking of flagged risks, ensuring stakeholders and team thorough follow through on all required actions for closure.
Validate quality of reviews conducted by business stakeholders and report on material lapses.
Engage advance techniques to conduct thorough and effective risk surveillance and testing of business process control measures to assess its relevance and robustness.
Accurate and timely articulation, escalation and reporting of testing and review results to management and business stakeholders on material findings for risk mitigation actions, and good practices for ongoing educational, staff recognition and positive reinforcement.
Identify potential new risk insights or trends observed on the ground for active discussion with risk surveillance managers for further trending analysis.
The Risk Analyst is expected to have regular active and tactful engagement and follow through working discussions with CFS departments during their review, testing, monitoring and reporting activities. Key Stakeholders Management Internal
Group Legal & Regulatory Compliance
Group Operations & Technology
R&P Advisory Teams
Qualifications Educational and Work Experiences:
Diploma or Degree holders aspiring to develop a career in risk management and surveillance.
Minimum 3 years of risk management or compliance experience
Added advantage for individual with certification in risk governance &/or risk management related courses.
Technical knowledge and general understanding of regulatory requirements for retail banking products and services.
Passionate in developing a career in risk management and compliance.
Strong analytical abilities and risk assessment acumen.
Committed and focused individuals
Positive and progressive behavioural traits
Good team player
Good written and oral communication skills and ability to interact effectively with people at different levels
Forward looking and embraces technology and data analytics to drive efficient and effective risk management.