Job Description

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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.

Job Responsibilities

General * Responsible for ensuring the Division/Department maintains an adequate and effective first line of defense compliance and risk management program;

• Promote and support the management of the Division/Department to ensure adherence with applicable banking laws, rules, regulations and internal policies, procedures and processes. Action plans should be developed to address the risk and control issues, including robust control testing measures.
• Enable the effective measuring and execution of the operational risk and compliance risk framework throughout the Bank/Group, 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 advisory support for operational risk and compliance matters
• Responsible for training on compliance and risk management practices to all staff within the Division/Department
• Take on an advisory role of the same division in the region and/or country to share best practices in relation to operational and compliance risk management.
• Provide oversight updates on regional basis to the relevant governing committee, where applicable

Drive strong Operational Risk Management practices * Proactively manage the risk in the Division/Department to reduce the likelihood or impact of negative impact events

• Responsible to promptly escalate and report risks to the Head of Division/Department in a timely manner so that Heads of Division/Department have a clear view of the overall control effectiveness of their unit.
• Execute the operational risk framework of the bank in a robust and disciplined manner so as to achieve sound risk management practices and reporting.
• Detect, highlight and mitigate emerging risks
• Proactively partner and engage with the second line of defense to achieve an optimal outcome of risk management for the CIMB Group.

Champion the Risk and Compliance Culture * Establish a reverence for strong compliance and risk management by applying knowledge and understanding of business products, services and processes

• Facilitate strong partnerships across various stakeholder groups, determine best methods of communication and establish escalation model and ensure an alignment of tasks between the 3 lines of defense to minimize overlap or gaps arising during execution of role and responsibilities
• To work closely with 2nd LOD, to design and develop training materials, where necessary, and conduct on-going compliance and risk-related training on a periodic basis within their respective division/ department as and when required, as part of upskilling and capability building initiative, with a view to enhance risk and compliance awareness, competency and culture within the BU/BE.
• Lead specific projects/ initiatives relating to Culture & Capability to raise awareness of operational and compliance risk within the Division/Department, including emerging risks in the industry.
• Provide guidance to support the RCU team in their role to strengthen the 1st LOD, relating to Risk & Compliance matters, in the day-to-day running of the BU/BE, e.g. new product or product changes, process design, development of policies/procedures/SOP, etc.
• Ensures that every business and support unit within the Division/Department has appropriate RCS, DCORO and QA testers and the appointment is properly executed via GHR
• Track and maintain an updated list of the RCU team members (onboarding and offboarding) within the Division/Department
• Facilitate all relevant training within the Division/Department and cascade relevant risk information or program updates to the RCU team including DCOROs and QA testers and respective business heads

Promote and maintain regulatory compliance * Implement and execute all the policies and procedures owned by Group Compliance in a robust and disciplined manner so as to achieve sound compliance risk management practices and reporting within the Division/ Department. This includes ensuring that divisional/ departmental policy, procedures and standard operating procedures are well drafted to ensure the polices and procedures are well operationalized by the Division/ Department.

• To be first point of contact in providing support and advice to the Division/Department in all compliance advisory matter. The RCU Head should resolve queries which are within their knowledge and expertise and promptly escalate the issues which are unfamiliar and/or require specialist advice/ knowledge.
• To ensure the regulatory gap analysis is completed in a timely and comprehensive manner for the new and/or updated legal and regulatory requirements and ensure adequate processes and/ or controls are in place for regulatory compliance.
• Proactively identify areas with ineffective controls or regulatory non-compliance and work with the relevant stakeholders to enhance overall control environment to holistically mitigate compliance risks.
• Lead the Div./Dept. in proactively identifying, managing and monitoring compliance risk using compliance risk tools. This includes recommending appropriate action owners within the Division/Department to the Head of Division for any new processes/ controls.
• To ensure that all non-compliance incidents and deficiencies, the assessment of impact (both financial and non-financial), disciplinary action is taken where necessary, the recommendation of preventive measure and corrective measure to address non-compliance incidents are promptly escalated and appropriately reported.
• To ensure the timely completion and the quality of compliance controls self-testing
• Conduct surveillance of AML and Counter Financing of Terrorism (CFT) risk indicators, including overall management of these risks and any reporting, where required.

Employee Engagement and Development * Monitor performance against KPI\'s of the relevant RCU team, including DCOROs and QA testers; including soliciting and incorporating performance feedback from Head of Group ORM and Head of Group Compliance

• Develop direct and indirect subordinates to ensuring each has a well thought through and executable action plan to help them achieve their development goals and needs.
• Provide timely feedback to staff and complete appraisal processes in line with CIMB process.
• Comply with HR performance processes and meet internal KPIs
• Attract, develop and retain talent by ensuring constant engagement surrounding risk & compliance related agenda
• Through leadership by example, actively work to create an environment for the team that encourages open and honest dialogue and escalation of issues.

Job Requirements

• Educational qualification: Bachelor Degree holder or equivalent
• Professional qualifications: Professional or post graduate qualifications e.g. Chartered Accountant, CFA, MBA, LLB
• Relevant work experience: Minimum 10 years work experience with relevant experience of a risk/audit/compliance/legal related role and/or working within the relevant business/function preferred
• Excellent communication skills both, verbal and written.
• An understanding of risk drivers and ability to articulate risk to non-risk personnel.
• In depth knowledge of risk related to [business/function]
• Good understanding of how a bank operates front to back
• Able to work autonomously and with a problem-solving and ownership of issues mindset
• Leads through setting high standards of work practices
• Demonstrated managerial, leadership skills with proven record of good teamwork and collaboration
• Good presentation and facilitation skills that encourages open and honest dialogue among the teams

**Only shortlisted candidates will be notified

CIMB