Chief Risk Officer

STATE BANK OF INDIA; Singapore; On-site; SGD 80,000 - 120,000; Full time

Job summary

A banking organization in Singapore is seeking a seasoned Risk Management professional to establish a comprehensive risk management framework and ensure compliance with regulations such as the PDPA. The ideal candidate will possess extensive banking experience, particularly in risk management, alongside strong analytical and communication skills. This role will also require the candidate to conduct training programs and engage with various stakeholders to mitigate risks effectively.

Qualifications

• Degree or equivalent with preference given to courses in Banking and Risk Management (e.g., FRM).
• Minimum 10-15 years of banking experience with at least 3 years in Risk Management.
• Sound knowledge of banking systems and processes.

Responsibilities

• Establish a risk management framework to manage various risks.
• Ensure compliance with Risk Policies and Guidelines.
• Act as Data Protection Officer to maintain customer data according to PDPA.
• Conduct Risk Management meetings and training programs.

Skills

Risk management

Analytical mindset

Excellent communication skills

Interpersonal skills

Microsoft Excel

Microsoft Word

Microsoft PowerPoint

Education

Degree related to Banking and Risk Management

Job description

JOB DESCRIPTION

• Establishment of a risk management framework to adequately identify, assess, monitor and control credit, market, operational, reputational, ethics, PDPA, outsourcing and environmental risks, in accordance with the expectations of Regulators and Corporate Policy.
• Support continued roll out of Risk Management Framework.
• Establish a strong risk culture through approval of prudent policies, guidelines, and input into strategic and operating plans.
• Ensure full compliance of Risk Policies and Guidelines adopted by Head Office.
• As the Bank’s Data Protection Officer, ensure that Bank meets the regulations and maintains the personal data of customers and employees as per local Personal Data protection Act (PDPA)
• Formulate strategies and direct resources and approaches to ensure effective risk management through preventive and corrective measures
• Stress Testing of Credit, Market & Liquidity Risk
• To work in coordination with various Business Units in identifying, assessing, monitoring and mitigating the existing and emerging risks.
• Provide counsel to business unit on risk management issues. Give feedback on risk management aspect in development of new products, processes as well as review of existing products and processes.
• Work closely with the Business Units to identify gaps in processes to reduce the likelihood of incidence recurrence.
• Address risk related issues flagged by regulators with inputs from various departments and Business Units concerned.
• Maintenance of centralized data for various operational risks reported by the different departments and put up to Risk committee every month.
• Ensure regular reporting of pertinent information like Internal Loss data, near miss history, Key Risk Indicators to senior management, Risk Committee and Head Office; which may support proactive risk management.
• Conducting Risk Management, Ethics, PDPA, Nodal Officer Committee meetings.
• To put in place a mechanism to monitor, manage and report SBIS’s risk exposures through Risk Committee (RCOM).
• Dissemination and implementation of RCOM’s directives to business units.
• Conducting training and risk awareness programs for the staff.
• Keep abreast of latest developments on risk management methodologies and tools for introducing them to the Bank in the most cost effective and resource efficient way e.g. RCSA exercise, Operation Risk Framework etc..
• Network with Risk Management Departments of other QFBs and local banks to bring in the best practices.
• Vetting/ review of various frameworks/ policies of the Bank from Risk Management angle.
• Liaising with Head Office, internal and external auditors on matters relating to risk management.
• To act as Chief Information Security Officer (CISO) in line with MAS guidelines and Bank’s Information Security Policy & Standards.
• To bring to the notice of Top Management of bank about the vulnerabilities and cyber security risk the Bank is exposed.

Requirements:

• Degree or equivalent, preference will be given to those who have done courses related to Banking and Risk Management viz. Financial Risk Manager (FRM).
• Banking experience of continuous 10-15 years, out of which minimum 03 years should be in Risk Management.
• Sound knowledge of banking systems/processes/procedures.
• Good management skills and analytical mindset, one who can effectively analyse a situation and make decisions to address issues/problem.
• Excellent communication and inter personal skills with the ability to interact with all levels of customers, staff and top management.
• Sound knowledge of Microsoft applications: Excel/Word/PowerPoint.