Risk Analytics, Intelligence & Surveillance (RAISe) – Financial Crime

Key Responsibilities

Risk Analytics, Intelligence & Surveillance (RAISe)is a dedicated unit within Singapore Consumer Financial Services (CFS), reporting to the Head of CFS Risk and Prevention (R&P). The primary objective of the RAISe team is to establish a robust risk surveillance and continuous monitoring framework that facilitates effective and timely risk management for CFS. This will be accomplished by leveraging advanced technology, data analytics, and detection methodologies to proactively identify, assess, and report on material risk trends and incidents.

RAISe team collaborates with various CFS business stakeholders to mitigate risks, ensuring compliance with all regulatory and policy requirements while maintaining the overall risk within acceptable appetite levels and achieving strong oversight of CFS risk and controls.

Within RAISe, there are sub-teams, each led by a Risk Surveillance Manager who reports to the Head of RAISe. The FCO Risk Analyst plays a crucial role in managing, testing, and detecting material risks and control lapses in the daily operations of CFS. Reporting to the Risk Surveillance Manager, the analyst will have opportunities to rotate, lead, and take ownership in one of the following areas within their respective team:

• Conducting pulse checks and validating control effectiveness in the Financial Crime and Operational Risk domains.
• Engaging in continuous surveillance using data to identify risk insights and monitor trends.
• Testing departmental control procedures and conducting thematic reviews related to Financial Crime and Operational Risk, with exposure to other risk pillars.
• Presenting to business units on the risk insights, fortifying our risk culture and conduct.

As part of their career development within RAISe, the individual is expected to contribute to the unit's success by:

• Meticulously tracking flagged risks and ensuring thorough follow-up by stakeholders and the team on all required actions for closure.
• Validating the quality of reviews conducted by business stakeholders and reporting on any material lapses.
• New ways of risk surveillance employing advanced techniques to conduct thorough risk surveillance and testing of business process control measures to assess their relevance and effectiveness.
• Articulating, escalating, and reporting testing and review results to management and business stakeholders, highlighting material findings for risk mitigation and promoting best practices and positive reinforcement.
• Proactively identify potential new risk insights or trends observed during operations and discussing these with Risk Surveillance Managers for further analysis.