Job Description - Head of Operational Risk Management Department
Position Summary:
Supervise the Operational Risk Management Department to support the Group CRO and Operational Risk Management Committee (“ORMC”) in overseeing operational risk management of the Bank Group by identifying, assessing, monitoring, controlling and reporting operational risk via a risk-based approach and in accordance with the Bank’s operational risk appetite and strategies and the Enterprise Risk Management (“ERM”) framework.
Position Accountabilities:
ERM Risk Controller Functions - Perform the roles and responsibilities designated to the Risk Controller of operational risk by the Board of Directors (“Board”).
Risk Oversight – Perform ongoing monitoring of the status of operational risk of the Bank Group against the Board approved Risk Appetite Statement to facilitate timely management decisions and actions where necessary.
Perform oversight of overseas branches and BEA China to ensure local implementation of the operational risk management are in line with the Bank Group, details refer to “Matrix Reporting Policy for Risk Management Functions of the Bank of East Asia (China) Limited” and “Matrix Reporting Policy for Risk Management Function of BEA Overseas Branches”.
Risk Policy Setting - Formulate the operational risk management policies, processes and guidelines so as to facilitate effective implementation of the Bank Group’s business strategies, and to cater to the market development and fulfil the regulatory requirements.
Prepare the Operational Risk Management Manual for documenting the risk governance structure, policies, processes and guidelines for approval by the Management Committee and the Risk Committee.
Risk Management Process - Direct ORMD to work closely with the Risk Owners to implement the policies, processes and guidelines stated in the Operation Risk Management Manual, monitor operational risk of the Bank Group against the Risk Appetite Statement, report the monitoring results and the significant issues to GCRO and ORMC, take action to minimize any related losses, and follow up on the implementation of instructions from GCRO and ORMC.
Develop specific action plans to address the key risk issues identified by the regulators.
- Risk Management Initiatives - Develop the Annual Work Plan for ORMD based on the Annual Key Risk Management Plan approved by the Board, and implement the key initiatives covered in the Annual Work Plan and as assigned by GCRO.
- ERM Promotion - Take a leading role in promoting risk culture and awareness within the Bank Group, enhance staff’s familiarity with the ERM framework and regulatory requirements.
- Communication - Act as the contact point for corresponding with the regulators and in responding to their enquiries on all operational risk management related issues of the Bank Group.
Establish the operational risk data and reporting guidelines, define the risk data ownership, Risk Indicators and Key Risk Indicators under stress/crisis situations, track and monitor the risk data quality and define the system automation requirements.
Competence Requirements:
• University graduate OR Relevant Professional Qualification OR ECF on ORM (Professional Level) AND
• Minimum 15 years of experience in Banking and Finance covering the following:
o At least 12 years in operational risk management/internal control/compliance functions
o At least 10 years supervisory experience
o Solid knowledge of relevant rules and regulations
o Exposures to HK, PRC and overseas banking operations
o Good leadership skills and project management
• Good command in both spoken and written English and Chinese