| The incumbent will be responsible for ensuring full compliance with Banking Basel Committee on Banking Supervision Standard (BCBS) number 239 related to Principles for Effective Risk Data Aggregation and Risk Reporting (RDARR). |
- Partner with Singapore BCBS 239 Program Management Office to coordinate planning and execution of the program for Controllers BCBS 239 reports
- Deliver several improvements to in-scope BCBS 239 regulatory reports processing against committed dates
- Implement consistency in documentation and end-to-end data, process, and system flows
- Maintenance and produce program artefacts to Internal Audit and ICRM Independent Review team as required
- Management of Critical Data Elements (CDEs) and Data Quality Issues. DQ are to be registered in Global Data Concern Remediation Management (DCRM) system for centralized DQ recording, monitoring and remediation
- Continuously strengthening control environment and identify area for improvements
- A Degree in Accounting, Finance, Business, or its equivalent with 10+ years of relevant experience, in a bank, financial services or an accounting firm and managerial role experience
- Process reengineering and change management with program/project management or experience in using a structured methodology to successfully plan, execute, monitor, and report project status.
- Ability to understand the strategic direction and translate to the delivering of successful results in a complex and cross-functional organization
- Ability to work under pressure and manage deadlines or unexpected changes in expectations or requirements
- Outstanding analytical, strategic, and problem-solving skills coupled with strong and broad-based finance and internal control skills. A proven track record of process transformations, including technology integration
- Proven organizational and time management skills
- Proven problem-solving and decision-making skills
- Consistently demonstrates clear and concise written and verbal communication skills
Details of Basel Committee on Banking Supervision Standard (BCBS) number 239 Principles.
1. Governance - A bank's risk data aggregation capabilities and risk reporting practices should be subject to strong governance arrangements consistent with other principles and guidance established by the Basel Committee.
2. Data architecture and IT infrastructure - A bank should design, build, and maintain data architecture and IT infrastructure which fully supports its risk data aggregation capabilities and risk reporting practices not only in normal times but also during times of stress or crisis, while still meeting the other Principles.
3. Accuracy and Integrity - A bank should be able to generate accurate and reliable risk data to meet normal and stress/crisis reporting accuracy requirements. Data should be aggregated on a largely automated basis to minimize the probability of errors.
4. Completeness - A bank should be able to capture and aggregate all material risk data across the banking group. Data should be available by business line, legal entity, asset type, industry, region, and other groupings, as relevant for risk in question, that permit identifying and reporting risk exposures, concentrations, and emerging risks.
5. Timeliness - A bank should be able to generate aggregate and up-to-date risk data in a timely manner while also meeting the principles relating to accuracy and integrity, completeness, and adaptability. The precise timing will depend upon the nature and potential volatility of the risk being measured as well as its criticality to the overall risk profile of the bank. The precise timing will also depend on the bank-specific frequency requirements for risk management reporting, under both normal and stress/crisis situations, set based on the characteristics and overall risk profile of the bank.
6. Adaptability - A bank should be able to generate aggregate risk data to meet a broad range of on-demand, ad-hoc risk management reporting requests, including requests during stress/crisis situations, requests due to changing internal needs and requests to meet supervisory queries.
7. Accuracy - Risk management reports should be accurately and precisely conveyed aggregated risk data and reflect risk in exact manner. Reports should be reconciled and validated.
8. Comprehensiveness - Risk management reports should cover all material risk areas within the organization. The depth and scope of these reports should be consistent with the size and complexity of the bank's operations and risk profile, as well as the requirements of the recipients.
9. Clarity and usefulness - Risk management reports should communicate information in a clear and concise manner. Reports should be easy to understand yet comprehensive enough to facilitate informed decision-making. Reports should include meaningful information tailored to the needs of the recipients.
10. Frequency - The board and senior management (or other recipients as appropriate) should set the frequency of risk management report production and distribution. Frequency requirements should reflect the needs of the recipients, the nature of the risk reported, and the speed, at which the risk can change, as well as the importance of reports in contributing to sound risk management and effective and efficient decision-making across the bank. The frequency of reports should be increased during times of stress/crisis.
11. Distribution - Risk management reports should be distributed to the relevant parties while ensuring confidentiality is maintained.
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