Risk Control Specialist, Group Islamic Banking - Risk Control Unit MY

CIMB; Kuala Lumpur; On-site; MYR 120,000 - 180,000; Full time

Job summary

CIMB is seeking a Risk & Compliance professional to ensure an effective first line of defense risk management program. You will advisory and assure the Division/Department in adherence to applicable banking laws, rules, regulations and internal policies, procedures and processes.

You will coordinate action plans to address risk and control issues and support effective risk framework execution across the division.

Responsibilities

• Maintain an adequate and effective first line of defense risk management program within the Division/Department.
• Provide advisory and assurance on compliance and operational risk management.
• Escalate risk and compliance matters beyond Line 1.5 in coordination with Line 1 and Line 2 as required.

Job description

Responsible for ensuring the Division/Department maintains an adequate and effective first line of defense risk management program; Promote and support Business and Support Management to ensure adherence with applicable banking laws, rules, regulations and internal policies, procedures and processes. Action plans should be developed to address the risk and control issues; Enable the effective execution of the operational risk and compliance throughout the Bank/ Group, with respect to identifying, quantifying, reviewing, evaluating and measuring risk to ensure that all compliance and risk categories are identified and managed in accordance with regulatory, internal policies and procedures requirements.
Purpose of the Role - Responsible for advisory and assurance to ensure the Division/Department maintains an adequate and effective first line of defense based on the compliance and operational risk management programs;Promote and support the Division/Department to ensure adherence with applicable banking laws, rules, regulations and internal policies, procedures and processes. Ensure action plans are developed by the Division/Department to address the risk and control issues; Enable the effective execution of the operational risk and compliance risk framework throughout the Division/Department, with respect to identifying, quantifying, reviewing, evaluating, and mitigating risk to ensure that all compliance and risk categories are identified and managed in accordance with regulatory, internal policies and procedures requirements.Be the first point of contact for the Management of the Division/Department in providing independent advice, support, and assurance for risk & compliance matters within the division/ department, integrating business, risk & compliance knowledge. In the event of operational risk and compliance matters beyond Line 1.5 (RCU Heads) purview, to escalate the Line 1’s issues to to the Line jointly with Line 1.;
Scope of the Role - Responsible for management of operational risk and regulatory risk for the Division/Department across the legal entities or across the geography as stated in the appointment letterFor external regulatory examination: the Risk and Control Unit Head is responsible to act as a liaison and address all concerns and requirements of regulators with respect to risks within their functional area of responsibilityIn the event of operational risk and compliance matters beyond Line 1.5 purview, Line 1’s escalation to Line 2 should happen jointly with Line 1.5Consulted on the standard setting by Line 2, including providing division/department-specific inputs for frameworks, policies, procedures and risk appetite; Line 1.5 should not be expected to take a cross-divisional view, its mandate should only be within its own division/department