About the role
The Candidate will be responsible to formulate an Enterprise Risk Management (ERM) framework to identify, assess, and manage risks that may impact the organization's operations, reputation, or financial stability. This includes engaging with regulators and managing various risks, such as technology risks, fraud risks, business continuity plans, and operations risk.
Roles & Responsibilities
- Engaging with regulators: You will work closely with regulatory bodies to ensure that the organization complies with all relevant regulations and standards. This may involve monitoring regulatory developments, participating in regulatory exams, and providing regular updates to senior management and the board of directors on the organization's compliance status.
- Managing technology risks: As technology continues to advance, technology risks are becoming increasingly important. You will be responsible for identifying and assessing technology risks, such as cybersecurity, data privacy, and system failures. You will need to work closely with IT and other departments to develop risk management strategies that protect the organization's digital assets and data.
- Managing fraud risks: You will identify and assess fraud risks, such as employee theft, embezzlement, and financial statement fraud. You will need to work with internal audit and other departments to develop fraud prevention strategies, including internal controls and employee training programs.
- Developing business continuity plans: You will develop business continuity plans that ensure the organization can continue to operate in the event of a crisis or disaster. This may involve identifying critical business functions, developing emergency response plans, and testing the plans to ensure they are effective.
- Managing operations risk: Operations risk includes risks associated with the day-to-day operations of the organization, such as errors, fraud, and system failures. You will be responsible for identifying and assessing operations risk and developing risk management strategies to mitigate them.
- Conducting risk assessments: You will conduct regular risk assessments to identify emerging risks and ensure that existing risk mitigation plans are effective. You may need to work with third-party vendors to assess risks related to outsourced services or supply chain management.
- Communicating with stakeholders: You will communicate regularly with stakeholders, including senior management, the board of directors, and other departments within the organization. You will need to provide updates on the organization's risk profile and risk management activities and make recommendations for any necessary changes.
- Building risk management culture: You will build a risk management culture within the organization. This involves promoting risk awareness and encouraging employees to report any potential risks or incidents. You may need to develop training programs and other initiatives to support this effort.
Requirements
Overall, the role is critical in helping organizations manage risks effectively. You will need to be a strategic thinker with excellent analytical skills, communication skills, and the ability to work collaboratively with others. Additionally, you will need to stay up-to-date with the latest trends and developments in risk management, including regulatory changes, emerging technology risks, fraud risks, business continuity planning, and operations risk.
- Bachelor's degree in a relevant field such as risk management, finance, business administration, or accounting. A master's degree is highly desirable.
- At least 3-5 years of relevant work experience in risk management, compliance, or audit.
- Experienced in working with regulatory bodies, managing technology risks, fraud risks, and developing business continuity plans.
- Excellent analytical and critical thinking skills.
- Strong communication and interpersonal skills to effectively engage with stakeholders.
- Ability to identify, assess, and mitigate risks.
- Familiarity with risk management frameworks and regulatory rules such as Securities & Futures Act, outsourcing guidelines, business continuity management guidelines and PFMI.
- Sound project management capabilities to organize, priorities and meet internal and external deadlines with limited resources
