Assistant Vice President /Senior Associate, Branch Operational Risk Specialist, DBS Australia ( ...

Assistant Vice President /Senior Associate, Branch Operational Risk Specialist, DBS Australia (Sydney) (WD71744)

About DBS Australia

DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS Bank has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

We have been recognised for our leadership globally, having been named "World's Best Bank" by Euromoney in 2021 and "Best Bank in the World" by Global Finance in 2022. DBS Bank was previously named "Best Bank in the World" by Global Finance. We have been accorded the "Safest Bank in Asia" award by Global Finance for 12 consecutive years from 2009 to 2020.

We are also at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" for 2021 by Euromoney.

DBS Bank Ltd opened its Australia Branch in Sydney in June 2015. With the branch, DBS is well positioned to support business and investment flows between Australia and Asia, while providing insight and connectivity into our core markets. The branch offers a wide range of products and services, through our teams in Institutional Banking Group, Global Transaction Services, Treasury & Markets, and Project Finance.DBS Australia is a Kincentric Best Employer in Australia for 2 years running.

DBS Bank Ltd., Australia Branch (DBS Australia) is regulated by Australian Prudential Regulation Authority (APRA), Australian Securities and Investments Commission (ASIC) and Australian Transaction Reports and Analysis Centre (AUSTRAC). The branch offers a wide range of products and services, through our teams in Institutional Banking Group, Global Transaction Services, Treasury & Markets, and Project Finance.

Job Purpose

• The role will be part of the Branch's first line of defence and supports management in identifying and managing risks within the businesses.
• This role assists the Unit Operational Risk Manager (UORM) in driving the overall risk and control agenda and programme for the Branch which includes:
  • Controls testing and working with the front line/support team's to improve their overall control posture and raising issues/incidents and plays an active role in supporting remediation activities
  • Executing Group (Singapore) initiated Risk/Control/thematical reviews for AU the Branch
  • Analysing and reporting on the state and health of risk/control/ and compliance with group policies and assisting with creating, uplifting and embedding a strong culture of awareness.
  • Supporting the Business Continuity requirements which includes executing various BCP testings to meet the Group and CPS230 testing / reporting requirements.
  • Supporting compliance in administering the Group's Third-Party Risk Management Program
• The scope of this role will have coverage across all functions (front and back office) within the branch when discharging the UORM responsibilities, including liaison with key stakeholders in international locations (e.g. other UORMs and Group Central functions in Singapore)

Key Accountabilities

• Assist UORM in driving overall risk and control agenda and programmes for the Branch, including promoting of risk and control awareness.
• Assist with timely implementation/awareness of related operational risk policies/ standards/guides and ensuring proper approvals are obtained for any deviations.
• Assist with the risk and control self-assessment (RCSA) testing programme and conduct testings required for the Branch
• Assist in Managing the Branch's operational risk events, issues and actions and Key Risk Indicators reporting
• Assist with Performing operational risk analysis and profiling for the Branch as well as report collation for the relevant risk and control committees or forums on a regular basis.
• Support for the Business Continuity Management (BCM) and Work, Health & Safety (WHS) coordinator which includes various tests.
• Act as secretariat for the Local Control Committee
• Managing AU's compliance with the Group's Third-Party Risk Management framework (Supplier Risk management)
• Assist with other ad hoc requirements (when required) that support the overall branch controls framework and Group compliance requirements

Job Duties & Responsibilities

• Assist in maintaining and ensure timely implementation of Group and branch-specific operational risk policies/standards/ guides and procedures
• Assist with promoting risk & control awareness, including ensuring relevant operational risks (e.g. Operational risk, reputational risk, risk culture & conduct etc) related trainings are conducted for staff in the branch.
• Drive the branch-wide RCSA programme and quality assurance testing programme. This includes coordinating, conducting control testing and documenting of testing results before reporting to appropriate forums or committees (locally and at Head office)
• Operational risk event management & reporting. For example - timely reporting/escalation of risk events/incidents, review of event description for accuracy and completeness as well as challenge adequacy of remediation actions before reporting to appropriate forums.
• Monitoring and reporting of key risk indicators and perform analysis of issues, operational risk events, loss trends and root causes to relevant risk and control committees or forums on a regular basis to facilitate management's assessment of the risk profile of the branch.
• Updating and maintaining the information within the relevant modules of the enterprise-wide Governance Risk & Control (GRC) system.
• Track and monitor issues and action plans (arising from RCSA, risk events, KRI etc) for management's attention.
• Where required, partner with local stakeholders to conduct deep dives on business functions to assess control design and operating effectiveness assessment and identify opportunities for improvement. Thereafter, partner with respective functions stakeholders for effective implementation of any recommendations.
• As the Branch's BCM and WHS coordinator, develop, maintain and drive implementation of related policies and procedures. Partner with HR for WHS related activities.
• Stay up to date with relevant regulatory requirements or changes and facilitate timely and effective adoption of new requirements.
• Perform independent checks for certain operations related regulatory submissions
• Perform secretariat duties for the Local Control Committee - i.e. coordination of meetings and presentation materials as well as preparing minutes of meetings.
• Support AU UORM in coordinating audit & regulatory inspections
• Provide additional support (where required) for other operational risk related programmes such as Third-Party Risk Management; Supplier Risk Reviews; Fraud, Outsourcing or purchasing risk management etc.

Experience

• At least 5 years working experience in Financial Services (Institutional banking industry would be favourable)
• Previous exposure to Operational Risk, external audit or internal audit or Controls Assurance is desirable.
• Experience in a similar capacity as an operational risk manager is preferred but not required.

Education / Preferred Qualifications

• Any Financial or Risk related Qualification (e.g. CA or CPA qualified, Certified Internal Auditor) preferred but not essential

Apply Now

We offer a competitive salary and benefits package and the professional advantages of a dynamic environment that supports your development and recognises your achievements.