Assistant Vice President, Risk & Compliance

To support the Group Heads in the management of operational risk and compliance requirements of the functional unit which involves identification, assessment, mitigation and review of operational risk and regulatory compliance requirements.

1.    Operational Risk Management
Assist and guide functional unit on the implementation of operational risk management framework, tools and activities: 
•    Identify, assess and report operational risks and adequacy of controls; including making recommendations to update minimum control standards. 
•    Identify key controls and scope of as well as perform and report control testing.
•    Identify, establish and report Key Risk Indicators. 
•    Review, verify and report loss events and amount.
•    Prepare Control Self-Assessment checklist for detecting control effectiveness.
•    Monitor status of the department general ledger (GL) account on balance sheet per
GL Returns coverage are properly reconciled and accounted for by all the respective users in Financial Control.
•    To monitor the department Standard Operational Procedures (“SOP”) /Policy are reviewed timely.
•    To carry-out GL accounts reconciliation review, for escalation of abnormal or long outstanding unresolved items to Group Head / Head of Department

2.    Governance, Risk and Compliance (GRC) Reporting 
•    Monitor, track, escalate and validate governance, risk and compliance issues (e.g. from compliance breaches, regulatory audits, compliance reviews, regulatory gap analysis) to ensure timely and proper closure.  

3.    Advisory – Risk & Control / Compliance
•    Review of documentations (frameworks, policies, procedures, etc.) specifically on assessment of risks and controls.
•    Review of new products and services, product variations and renewals and product documentations, particularly on identification and assessment of key risks and controls associated with the products and services. 
•    Perform Business Continuity Management related activities and functions.

4.    Compliance Management
Assist and guide business/support units on the implementation of Group Compliance framework, policies, procedures and relevant regulatory requirements: 
•    Act as the key liaison person between business/support units and Group Compliance (GC) for any compliance related matters including regulatory audits and compliance review.
•    Ensure timely escalation of compliance breaches/issues to Group Head and Group Compliance and ensure adequacy of the corrective action plans, including completion and submission of Monthly Compliance Report to Group Compliance to ensure compliance to laws, regulations, standards, policies, procedure and internal framework.
•    Coordinate and ensure proper dissemination all relevant regulatory or compliance bulletin/requests to business/support units and ensure satisfactory (i.e. review the adequacy of action plans) and timely completion of regulatory Gap Analysis (GA) for new / revised regulations (as and when requested) per GC’s Gap Analysis Process Guidelines.
•    Identify and develop key controls and assessment to address key regulatory requirements of new / revised / existing regulations with guidance from Group Compliance.

5.    Promote risk and compliance awareness e.g. by facilitating and conducting briefing, organizing group discussions and other forms of communication.

Group Finance Specific Responsibilities

6.    Business Continuity Planning (BCP)
•    BCP Coordinator for Financial Control, overall coordination for other Group Finance departments / functions for risk assessment, business impact assessment, BCP documentation, BCP call tree, location based exercise / live test / pre-test and related matters arranged by GIS Business Continuity Management Office.

7.    New product operational readiness support for Group Finance
•    Coordinate briefing by LOB product manager to Group Finance stakeholders, and sign-offs for operational readiness (new product checklist and / or operational readiness memo) by the officer-in-charge of respective sections in Group Finance, SVP Financial Controller and Group Chief Financial Officer.

8.    User Access and data management related matters
•    Facilitate and coordinate user access review matters (systems, data, access to departments) by respective departments / sections Group Finance.
•    Facilitate and coordinate documentation of data management procedures and data classification inventory with respective departments / sections

9.    Any other matters as assigned by Head of Department.

10.    Handling ad-hoc assignment as when tasked by immediate supervisor/Management