Financial Risk Manager

Hong Leong Assurance Berhad; Petaling Jaya; On-site; MYR 150,000 - 210,000; Full time

Job summary

Hong Leong Assurance Berhad is looking for a Manager Operational Risk to oversee the implementation of the risk framework across the organization. You will coordinate risk assessments, monitor KRIs and loss events, and report to senior management for informed decisions.

The role requires a Bachelor’s degree and at least 8 years in operational risk within financial institutions, with strong analytical, communication, and stakeholder management skills.

Qualifications

• Bachelor's Degree in risk management, finance, economics, accounting, actuarial science or related field.
• 8 years of relevant experience in operational risk within financial institutions, preferably insurance.
• Strong analytical and report-writing skills with excellent communication and stakeholder management.

Responsibilities

• Oversee risk review and monitoring, including RCSA evaluation and compilation of results.
• Review business unit risk registers to ensure risks are identified, assessed, and mitigated.
• Identify key risks and integrate them into the enterprise-wide Risk Heat Map.
• Assist in compiling internal and external KRI data for monitoring and reporting.
• Coordinate assessment and compilation of operational loss event cases for insights.
• Facilitate root cause analysis and recommend control enhancements to prevent recurrence.
• Analyze risk event reporting to identify trends and emerging risks.
• Coordinate RO with stakeholders to prepare and submit KRI and LED data timely.
• Assist in monitoring ORR KRI trends and ensure thresholds are met.
• Provide support in interpreting ORR policies, FAQs, and reporting requirements.

Skills

Operational Risk

Outsourcing

Microsoft Office

Excel

PowerPoint

Stakeholder management

Analytical skills

Communication

Independent working

Education

Bachelor's Degree in Risk Management/Finance/Economics/Accounting/Actuarial Science

Tools

Microsoft Office

Excel

PowerPoint

Job description

The Manager Operational Risk is responsible for overseeing the implementation of the operational risk framework, ensuring effective risk identification, assessment, monitoring, and reporting across the organization. This role plays a key part in promoting a strong risk culture and ensuring compliance with regulatory expectations.

Functional (job responsibilities)

Risk Review and Monitoring

• Oversee the RCSA exercise, including evaluation and compilation of results.
• Review business unit risk registers to ensure risks associated with HLA’s significant activities are properly identified, assessed, and mitigated.
• Identify HLA’s key risks and incorporate them into the enterprise-wide Risk Heat Map.
• Assist in compiling and reviewing internal and external KRI data for effective monitoring and reporting.
• Coordinate the assessment and compilation of operational loss event cases to provide management with insights into the actual cost of risk and control weaknesses.
• Facilitate root cause analysis and recommend remedial actions or control enhancements to prevent recurrence of similar events.
• Conduct ongoing analysis of risk event reporting to identify trends and emerging risks.
• Coordinate with relevant stakeholders to prepare and submit Key Risk Indicators (KRI) and Loss Event Data (LED), ensuring the data is complete, accurate, and submitted in a timely manner.
• Assist in analyzing ORR KRI trends to monitor operational risk events reported by stakeholders, ensuring they remain within expected thresholds.
• Provide support in reviewing and interpreting ORR-related policy documents, FAQs, and reporting requirements to ensure compliance and consistency in submissions.

Policy Review

• Assist in the periodic and ad-hoc review of policies, frameworks, and procedures relevant to the Risk Management Department to ensure they remain current and effective.
• Support efforts to ensure compliance with applicable operational risk policies, internal guidelines, and external regulatory requirements.

Key Control Testing

• Coordinate the planning and execution of control testing for key controls identified through the risk assessment process.
• Oversee the System Automated Process Review and perform risk-based control testing to ensure proper closure and remediation of identified issues.

Management Reporting

• Coordinate the scheduling of Risk Management & Compliance Committee (RMCC) meetings and the preparation of supporting materials on a periodic basis.
• Coordinate the preparation of monthly reports for EXCO meetings, as well as periodic reports and operational risk dashboard materials for GBRMC meetings.

Outsourcing risk

• Coordinate outsourcing reviews, including due diligence exercises, assessments, and gap analyses, as required.
• Coordinate the annual performance review of Outsourcing Service Providers in collaboration with relevant business units.
• Coordinate with relevant stakeholders to prepare and submit annual outsourcing plan to BNM.

Others

• Assist in liaising with and following up with relevant stakeholders to obtain responses for external surveys and regulatory submissions.
• Support operational risk-related activities, including risk assessment, risk monitoring and independent process reviews, as required.
• Maintain clear, organized, and systematic documentation of all assigned tasks.
• Carry out additional responsibilities as delegated by the Head of Enterprise Risk Management.

Managerial (team/group responsibilities)

• Lead, guide & support team/group members in the team to achieve relevant KRAs.
• Provide support to team/group members where necessary within department & across units.
• Support overall relevant assigned tasks.

Managerial (team/group responsibilities)

• Lead, guide & support team/group members in the team to achieve relevant KRAs.
• Provide support to team/group members where necessary within department & across units.
• Support overall relevant assigned tasks.

Education/Qualification

• Bachelor's Degree in Risk Management, Finance, Economics, Accounting, Actuarial Science or related fields.

Experience/Requirements

• Knowledge of Operational Risk and Outsourcing.
• Proficient in Microsoft Office/Power Point/Excel applications.
• 8 years relevant working experience in Operational Risk function in financial institutions, preferably Insurance industry.
• Strong analytical and report writing skills. Excellent communication and stakeholder management. Able to work independently with minimum supervision.