Risk Control Officer

Job Description
  • Act as the liaison between respective Division, Risk Management Department (RMD), Compliance and Governance Department (CGD), and Internal Audit (IA) to maintain adequate and effective first line of defense for risk and compliance programs.
  • Ensure effective execution of Operational Risk Management Framework in a robust and disciplined manner to achieve sound risk management practices through the following tools but not limited to:
  1. Incident / Loss Event Data (LED)
  2. Control Issues Management (CIM)
  3. Key Risk Indicators (KRI) / Risk Appetite Statement (RAS)
  4. Risk Control Self-Assessment (RCSA)
  • Proactively identify areas with ineffective controls and work with the relevant stakeholders to enhance overall control environment to mitigate compliance risks through the following Compliance Framework but not limited to:
  1. Conduct gap analysis to identify business risk and control assessments to ensure compliance with applicable regulations.
  2. Ensure efficient and effective compliance practices are adhered to the required standards and processes.
  3. Maintain tracking of remediation efforts related to review findings and other activities, as and when necessary.
  • Proactively discuss and report any risk and compliance matters to Head of Department/Division and provide recommendations and mitigation actions to address lapses and control weaknesses
  • Review and ensure timely follow up by DCORO on mitigation actions for any non-compliance (regulatory and operational) issues including audit findings highlighted by Bank Negara Malaysia (BNM), Security Commission (SC) and/or Paynet for appropriate closure.
  • Ensure the Division’s Operating Standard (OS) and Operating Procedure Manual (OPM) are effective and updated according to the current process and practices.
  • Provide advice, support and awareness on risk and compliance matters to the Division/Department/Unit as and when required.
  • Develop, provide guidance and support DCOROs in achieving their KPI, development goal and needs.
  • Monitor performance against DCORO’s KPI, including soliciting and incorporating performance feedback from Head of Division/Department, RMD, and CGD.
  • Ensure that all non-compliance incidents and deficiencies, assessment of impact (both financial and non-financial), disciplinary action taken, recommendation of preventive measure and corrective measure to address non-compliance incidents are appropriately reported.
  • Responsible for other special assignments, ad-hoc functions and related duties specified by Head of Division
  • Provide support and advice to staff in respective Division/Department/Unit to continuously adhere to internal and external requirements in performing their day-to-day operations
  • Timely report to respective Head of Division/Department/Unit, RMD, and CGD on any risk and compliance breaches.

Job Requirements
  • Bachelor Degree or Professional Qualification in banking / insurance/ fintech related fields such as Finance, Procurement, Outsourcing, and/or Operations
  • Minimum 10 years work experience with relevant understanding on risk, compliance and audit activities
  • Excellent communication skills both, verbal and written.
  • An understanding of risk drivers and ability to articulate risk to non-risk personnel
  • In depth knowledge of risk related to [business/function]
  • Able to work autonomously
  • Demonstrated managerial, leadership and facilitation skills
  • Understanding of how a financial services operates front to back
  • Good presentational skills

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