Due to an internal promotion, this reputable insurer are seeking a seasoned operational risk candidate to manage a small team, whilst helping the business units to identify and mitigate operational risks.
As an SME for operational risk this role will be a risk champion to promote risk culture and continue to strengthen control excellence environment and continue to strengthen relationships in order to support the development of Operational Risk Management practices. In addition to keeping ahead of industry and regulatory developments in the evolution of operational risk practice and methodologies and drives continuous Operational Risk Management Program improvements. This role will assists the overall risk management function for our Hong Kong and branch offices.
Key responsibilities include:
- Risks are identified and managed so that any experienced losses are within tolerance limits by timely completing the control validation and risk reporting
- Provide a broad range of operational risk consulting for the business initiatives
- Manage elements of our Operational Risk Framework including establishing key risk indicators; conducting risk assessments; overseeing root cause analysis for loss events; monitoring mitigation plans; reporting timely on risk issues, promoting a strong risk culture.
- Perform regular risk and control documentation and related control validation and updating of risk policies
- Provide risk management guidelines and framework to promote risk management culture
- Assist process owners in their compliance with the risk policies and internal requirements.
- Manage on-going monitoring of policies and procedures to ensure they are updated to include proper operational risk mitigating controls.
- Maintain and following up the Local Loss Database, KRIs, control implementation plan, risk management reporting, BCP related documentation, outsourcing assessment
- Administer risk management reporting tools.
- Support the Secretariat of business unit Risk and Capital Committee, including preparation of Risk Committee reporting and other risk reporting
- Support general administration and documentation for the Risk Function
Experience required -
- 8-10 years of experience in financial services sector and minimum of 5 years experience in operational risk management, internal audit or operations quality control and compliance functions preferably in life Insurance operations
- Bachelor Degree, with preference of specialization in Business Administration, Accounting or Finance and other professional
- Insurance Operations; Business Continuity, COSO Internal Control Framework or COBIT, Information Security, SOX and/or Insurance regulations
- FLMI, CIA, and/or CISA