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Manager - Risk & Compliance
2 weeks ago
FIND YOUR 'BETTER' AT AIA
- We don’t simply believe in being ‘The Best’. We believe in better - because there’s no limit to how far ‘better’ can take us._
- We believe in empowering every one of our people to find their 'better' - in the work they do, the career they build, the life they live and the difference they make. So that together we can support even more people - including our own - to live Healthier, Longer, Better Lives._
If you believe in better, we’d love to hear from you.
About the Role
Manage OSS Operational Risk matters as a second line of defence, in partnership with the OSS departments (as first line of defence) to ensure that all Operational Risk areas are efficiently and effectively assessed, mitigated and controlled with reference to the best practices and standards of AIA Group Business Units.
This role holder needs to coordinate with all business and support functions across OSS to ensure that OSS maintains a high ethics and risk management standard, in line with the OSS vision of being ‘AIA’s Pre-eminent Service Partner’.
This position works closely with local business function heads, Group Operational Risk team and key contact persons in the Group Office and Local Business Units, and providing recommendations to the CEO and local function heads on operational risk matters. In addition, the role holder is expected to provide compliance functional support and implement all necessary actions to ensure achievement of the objectives of an effective operational risk programme for OSS, and implement strategic Risk directions / initiatives of the AIA Group.
Roles and Responsibilities:
GOVERNANCE
- Implement the Group Operational Risk Framework and Taxonomy
- Prepare operational risk pack for relevant Committees
- Conduct operational risk analysis, performing risk assessments and reviews as required by management or Group Risk
- Ensure the effective implementation of the Internal Incident Management Reporting process
- Acts as keeper of operational risk watchlists (if applicable), adding issues as required by committee members, ensuring they are reviewed at each committee meeting and, escalated to Group Risk where considered appropriate
- Conduct reviews and investigations related to operational and compliance risk
- RISK MANAGEMENT INFORMATION (MI) & DATABASES
- Organises Risk & Control Assessment (RCA) and work with relevant functions (e.g. Compliance and Internal Audit) on gathering and analysis of operational risk data
- Provides training to first line of business on RCA, EGRC, IRIS system and operational risk management
- Collects and analyses Risk Management Information (MI) to identify areas for potential improvement (both quality and efficiency)
- Ensure timely and accurate capturing and reporting of internal incidents by owners
- MANAGEMENT OF KEY RISKS
- Ensuring that the Key Operational Risk (KOR) profile is being updated, reviewed and approved by Risk Owners at least quarterly/half-yearly.
- Work closely with Risk Champions and Risk Owners to ensure the risks are identified, assessed, managed, and monitored according to the Group ORM Farmework
- Work collaboratively with the Risk Managers in Local Business Units that relies on OSS services, to ensure regular communication on relevant operational risks related issues and incidents.
- BUSINESS ANALYSIS
- Provide business analysis support for Compliance related IT systems and projects
- OTHERS
- Performs other responsibilities and duties periodically assigned by supervisor in order to meet operational and/or other requirements, that includes providing required support for the Compliance function.
- Job Requirements:
- Degree in Accounting, Risk Management, Business Management or other related fields.
- Minimum eight (8) years of relevant experience (risk management, compliance or audit) in the insurance industry
- Roles in IT, project management, business analysis, finance, investment or insurance operations is an added advantage.
- Excellent command of English (both written and oral)
- ability to think laterally, learn quickly and demonstrate commitment to high quality delivery
- able to work with data, prepare reports, communicate messages effectively in writing and through charts and tables
- generally curious, inclined to question and challenge while always approaching issues in a positive and mature way, seeking solutions and taking responsibility for tracking resolution
- risk management background is preferred but not mandatory. A good understanding of and ability to articulate key concepts such as 3 lines of defense, oversight and assurance are however essential. Background in Internal/ External Audit, Compliance, Internal Controls and Operations would be an added advantag
- Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives._