Risk and Control Specialist - CIB SG

CIMB Singapore; Singapore; On-site; SGD 120,000 - 180,000; Full time

Job summary

CIMB Singapore seeks a senior risk and compliance professional to strengthen operational resiliency through governance and proactive risk management. You will lead identification, assessment, and monitoring of non-financial and regulatory risks, while advising HOD/Process Owners on risk controls and emerging risks.

You will also support regulatory compliance, audit responses, and risk culture initiatives, collaborating with 2nd LoD and cross-functional teams to embed robust controls across the

Qualifications

• Strong analytical and problem-solving skills with the ability to deliver pragmatic solutions to risk issues independently.
• Excellent communication and interpersonal skills for effective collaboration and strong stakeholder management.
• Experience with MAS & SGX regulatory requirements and FATCA/CRS knowledge.

Responsibilities

• Enable effective implementation of risk framework and policies to strengthen operational resiliency for CIMB Singapore.
• Promote and support risk governance and proactive risk management across departments.
• Perform regulatory gap analysis for new or revised guidelines and ensure competent controls.
• Drive risk awareness and training across the department to strengthen risk culture.
• Collaborate with 2nd Line of Defense and process owners to align policies and controls with risk framework.

Skills

Stakeholder management

Regulatory knowledge

Analytical thinking

Communication skills

Problem solving

Team collaboration

Education

Undergraduate degree in Law/Finance/Business

AML/CFT Certification or equivalent

Job description

• Enable effective implementation of framework and policies related to non-financial risk and compliance matters to strengthen the operational resiliency and enable sustainable business growth of the Department and CIMB Singapore.
• Promote and support the Head of RCU (CIB) in strengthening operational resiliency with proactive identification, management, monitoring and control of operational and compliance risks using relevant operational and compliance risk tools to reduce likelihood and impact of occurrence in line with risk appetite. This includes identifying areas with ineffective controls or potential risk associated with new business initiatives, process changes, and new product or services for the department.
• Perform the identification, assessment and monitoring of key drivers for all types of non-financial and compliance risks that could impact the Department, including Operational Risk, Conduct Risk, Fraud Risk, Third-Party Risk, Business Continuity, Data Risk, AML/CTF, regulatory compliance and other non-financial risks that are unique and applicable to the Department.
• Support and provide risk and control advisory to HOD / Head of Unit (HOU) / Process Owners with proactive risk prevention strategy by identifying and managing risk at source / emerging risks during departmental strategy planning, product design, system implementation / changes or process changes and embedding effective risk controls in the business processes.
• Monitor and report risk indicators / measures, and ensure timely escalation of the department’s operational risk events with mitigating actions to stakeholders and risk committees
• Collaborate with HOU / Process Owners to ensure departmental policies, procedures and SOPs are effective, updated and aligned with the Bank’s risk framework and policies with documentation of appropriate key controls.
• Perform regulatory gap analysis for new or revised regulatory guidelines or P & P impacting the department, ensuring adequate risk and control are put in place for regulatory compliance. Manage and address regulatory expectations, including audit examinations and queries
• Facilitate consistent approach in the assessment and management of risks within the department in alignment with applicable banking laws, regulations, internal policies and procedures.

Key Responsibilities

JOB DESCRIPTION

Risk and Compliance Governance

• Enable effective implementation of framework and policies related to non-financial risk and compliance matters to strengthen the operational resiliency and enable sustainable business growth of the Department and CIMB Singapore.
• Promote and support the Head of RCU (CIB) in strengthening operational resiliency with proactive identification, management, monitoring and control of operational and compliance risks using relevant operational and compliance risk tools to reduce likelihood and impact of occurrence in line with risk appetite. This includes identifying areas with ineffective controls or potential risk associated with new business initiatives, process changes, and new product or services for the department.
• Perform the identification, assessment and monitoring of key drivers for all types of non-financial and compliance risks that could impact the Department, including Operational Risk, Conduct Risk, Fraud Risk, Third-Party Risk, Business Continuity, Data Risk, AML/CTF, regulatory compliance and other non-financial risks that are unique and applicable to the Department.
• Support and provide risk and control advisory to HOD / Head of Unit (HOU) / Process Owners with proactive risk prevention strategy by identifying and managing risk at source / emerging risks during departmental strategy planning, product design, system implementation / changes or process changes and embedding effective risk controls in the business processes.
• Monitor and report risk indicators / measures, and ensure timely escalation of the department’s operational risk events with mitigating actions to stakeholders and risk committees
• Collaborate with HOU / Process Owners to ensure departmental policies, procedures and SOPs are effective, updated and aligned with the Bank’s risk framework and policies with documentation of appropriate key controls.
• Perform regulatory gap analysis for new or revised regulatory guidelines or P & P impacting the department, ensuring adequate risk and control are put in place for regulatory compliance. Manage and address regulatory expectations, including audit examinations and queries
• Facilitate consistent approach in the assessment and management of risks within the department in alignment with applicable banking laws, regulations, internal policies and procedures.

Champion the Risk and Compliance Culture

• Support Head of RCU/HOD to champion Risk and Compliance culture, and provide relevant risk and compliance updates / training within the department
• Work in collaboration with 2nd LOD in developing relevant risk and compliance updates / training materials / risk culture initiatives for the department .
• Ensure continuous upskilling of own capabilities on risk and compliance knowledge to enable effective risk identification, assessment and control across the functions of the department.

Regulatory Compliance

• Support Head RCU/HOD in addressing requirements and audit request of local regulators with respect to non-financial risks and regulatory compliance, ensuring departmental non-financial risk controls and practices are in compliance with the applicable banking laws, regulations, internal policies and procedures.
• Stay abreast of industry trends, regulatory developments and best practices in non-financial risk and compliance risk to continuously enhance departmental risk management capabilities and operational resilience.

Projects

• Participate in specific projects/ initiatives providing guidance relating to operational and compliance risk within the Department, ensuring operational readiness.

People Management

Customer

• Facilitate strong partnerships across various stakeholder groups and ensure alignment of risk and compliance framework with 2nd LoD to minimize overlap or gaps arising during execution of role and responsibilities.
• Promote and instill a strong risk and compliance awareness culture within the department to embed risk consciousness in operational processes for sustainable growth.

Employee Engagement & Development

• Setting individual career development plan and embrace a culture of continuous learning and professional development for personal growth opportunities and self-development.
• Comply with HR performance processes and meet internal KPIs
• Embrace EPICC culture and strong risk mindself with the objectives of:
• Collaborating with team members and relevant stakeholders from other departments.
• Embody risk and compliance culture, escalation culture, continuous improvement on risk & compliance
• Driving Risk and Compliance Culture- raise awareness of risk & compliance culture for the Department.

Requirements

• Undergraduate degree in Law, Finance, Business or equivalent
• Professional or post graduate qualifications e.g. AML/CFT and TFS Certification, Regulatory Compliance Certification and the equivalent issued by an acknowledged institution and/or regulatory bodies.
• At least 8-9 years in AML/CFT with capital markets firms or banks, practical audit experience or equivalent, proficient understanding of MAS & SGX regulatory requirements and expectations, good working knowledge of FATCA, Common Reporting Standards and Sanctions with basic knowledge of operational risk management, quality assurance or other risk control-related function experience in the banking industry.
• Strong analytical and problem-solving skills with the ability to deliver pragmatic solutions to risk issues independently.
• Excellent communication and interpersonal skills for effective collaboration and strong stakeholder management (manage complex interactions).
• Ability to work independently and a team player.
• Self-motivated and adaptable with strong initiative, integrity and desire to learn and develop.
• Agile mindset with the ability to embrace change in dynamic environment and drive innovation in risk management practices.
• Attention to detail with strong organizational and reporting capabilities.
• Proficient in Presentation slides, Excel and Word
• Highly adaptable, curious and collaborative.