Operational Risk Specialist

We're on a mission to make financial services accessible and effortless for SMEs. As one of Singapore's latest digital wholesale banks fully regulated by MAS, we're committed to continuous innovation to bring about simpler, safer and more rewarding financial services. #bringingaboutwhatsnext

We're seeking an ambitious risk professional eager to build expertise spanning enterprise risk, operational risk, and third-party oversight within a fast-paced digital banking setting. This person will join the Enterprise & Operational Risk Management (EORM) team as Operational Risk Specialist, reporting to the Head of Enterprise & Operational Risk.

The role contributes across the EORM function, with a primary focus to bring together key components of operational resilience, including Business Continuity Management (BCM), Third Party Risk Management (TPRM) and Incident Management, to provide an integrated view of the Bank's ability to operative critical business services with confidence. The role will also contribute to the broader ERM and ORM agenda, including risk governance, risk assessment, reporting, regulatory engagement and the continuous enhancement of the bank's risk culture through training and awareness programmes.

Key Responsibilities:

Business Continuity Management (BCM)

• Develop, implement and maintain BCM and crisis management framework, ensuring business continuity plans, impact assessments, crisis management plans and recovery strategies remain effective and aligned to the bank's risk appetite and resilience requirements.
• Drive periodic business impact analysis and reviews of critical business, services and processes and establish appropriate recovery objectives, minimum service levels and resilience requirements, reviewing and challenging business and function owners on the adequacy and effectiveness of controls.
• Coordinate and facilitate bank-wide exercises and testing programmes such as simulation, tabletop and call tree, ensuring lessons learned from exercises and actual events are translated into measurable remediation actions.

Third-Party Risk Management (TPRM)

• Assist in end-to-end lifecycle management of third-party arrangements – including outsourcing vs. non-outsourcing determinations and due diligence requirements per MAS Notice 658
• Maintain the third party register for the Bank and coordinate across the bank to ensure that due diligence of third parties is performed on a timely and regular basis in accordance to the policy.
• Support development and maintenance of Third Party & Outsourcing Policy.

Incident Management / Operational Risk Event

• Establish and maintain an effective operational incident management framework, working with Technology and Cyber Security teams to define incident classification, escalation, governance, reporting and lessons learnt.
• Ensure process is in place for cross-functional root cause reviews, identification of control weaknesses and gaps, formulation and tracking of remediation actions, reporting to risk management committee and external regulatory reporting of operational losses.
• Analyse incident trends and near misses to identify systemic risks and opportunities for preventive actions.

Qualifications

• Bachelor's degree in related domains.
• At least 5 years of experience in Ops Risk Management or Audit in operational areas preferably within the financial industry.
• Familiar with operational risk regulatory and legislative requirements (e.g., Guidelines on Outsourcing (Banks), MAS 658, Guidelines on BCM)
• Advantageous to have professional certifications such as Risk Management or Business Continuity Certifications