Chief Risk Officer, Singapore

Key Responsibilities

1. Risk Governance and Policy Development

• Develop and maintain the Bank's risk management framework, policies, and procedures.

• Establish and communicate the Bank's risk appetite and ensure alignment with the overall business strategy.

• Ensure risk management policies are compliant with regulatory requirements and industry best practices.

• Responsible for supporting the achievement of the Bank’s objectives by addressing the full spectrum of its risks and managing the combined impact of those risks as an interrelated risk portfolio.
  

2. Risk Identification and Assessment

• Identify, assess, and prioritize all types of risks.

• Utilize tools and methodologies such as stress testing, scenario analysis, and risk modelling to evaluate potential risks.
  

3. Risk Monitoring and Reporting

• Implement systems and processes for ongoing monitoring of risk exposures.

• Regularly report risk positions to the board of directors, senior management, and relevant stakeholders.

• Provide insights into emerging risk trends and ensure transparency and accuracy in risk reporting.
  

4. Risk Mitigation and Control

• Develop and oversee the implementation of risk mitigation strategies and controls.

• Conduct regular reviews and updates of risk mitigation strategies in response to changing circumstances.

• Ensure the effectiveness of risk controls and adjust them as necessary.

5. Risk Culture and Training

• Promote a strong risk culture throughout the Bank.

• Provide training and awareness programs to ensure employees understand and adhere to risk management practices.

• Encourage open communication about risk issues and foster a proactive approach to risk management.

6. Risk Control Self Assessment (RCSA)

• Lead the RCSA process across all business units.

• Analyze RCSA results and report findings to senior management and the board of directors.

• Develop action plans to address identified risks and monitor the implementation of these plans.

Direct Accountability

1. Fraud and Data Risk Assessment and Prevention

• Conduct thorough risk assessments to identify potential vulnerabilities or threats within the Bank.

• Evaluate the effectiveness of existing fraud prevention, data protection and detection controls.

• Develop and implement policies, procedures, and controls to prevent fraud and/or data loss.

• Stay updated on emerging market trends and techniques to proactively address potential threats.

2. Operational Risk Management

• Identify and manage risks related to internal processes, systems, people, and external events.

• Implement robust internal controls to prevent fraud, errors, and system failures.

• Oversee business continuity planning and disaster recovery efforts

3. Regulatory Risk (Compliance related)

• Responsible for researching, managing, and implementing responses to all regulatory provisions that affect the Bank.

• Communicate implications of existing and new regulations to senior management, and develop potential response and/or action plan.

Supervision ("Coordination" & "Testing")

1. Credit Risk Management

• Oversee the credit risk assessment process, including the evaluation of borrower creditworthiness and loan portfolio quality.

• Monitor credit risk exposures and manage concentrations of credit risk.

• Test credit exposure methodologies in conjunction with risk analytic systems.

2. Market and Liquidity Risk Management

• Supervise the management of market risk exposures arising from interest rate changes, foreign exchange fluctuations, and other market movements.

• Oversee liquidity risk management to ensure the Bank can meet its financial obligations.

• Reviewing the strategies to manage interest rate risk and liquidity gaps.

3. Cybersecurity and Information Security

• Oversee the Bank’s cybersecurity strategy and ensure robust protection against cyber threats.

• Validating policies and procedures to safeguard sensitive information and data.

• Review regular cybersecurity risk assessments and audits.