Business Operational Risk Management (Retail Digital)

Responsibilities:

• Risk Identification: Pinpoint operational risks throughout the product lifecycle, such as risks associated with rapid feature releases, security vulnerabilities, and regulatory compliance
• Risk Assessment: Evaluate the likelihood and potential impact of each identified risk, often using quantitative and qualitative risk assessment tools e.g., risk maps or heat maps, survey, interview, workshop etc.
• Risk Mitigation Strategies: Working closely with product owner or related value chain to develop and implement controls or contingency plans to reduce the probability or impact of operational risks.
• Control testing to ensuring that risk mitigation measures are effective and that the business’s operations comply with regulatory standards and internal policies.
• Working closely with product owner to perform incident root cause analysis and develop response plan, and prevention.
• Monitoring and Reporting: Track risk exposure and incidents over time, ensuring management is aware of key risk metrics and trends.

Qualifications:

• Analytical Skills: To assess and interpret data related to operational risks.
• Attention to Detail: For identifying subtle process inefficiencies or compliance issues.
• Communication: To explain complex risks and mitigation strategies clearly to stakeholders.
• Problem-Solving: To develop effective risk mitigation strategies.
• Knowledge of Regulatory Frameworks: Understanding of laws and regulations governing operational risk, especially in banking and financial institutions
• Agility and Adaptability: The fast-paced nature of tech means risk managers need to adapt quickly to new technologies, regulatory changes, and product shifts.
• Data Analysis and Machine Learning: An ability to leverage data analytics and machine learning to identify trends or predict potential operational issues can be valuable, given the volume of data tech companies handle.
• Bachelor’s or Master’s degree in Finance, Business Administration, Computer Engineer, Computer Science or Management Information System
• Experience at least 4-5 years in an internal control, risk management or (internal or external) audit function and preferably have IT experience.
• Good communication, convincing and advisory skill with the ability to work at all levels in the organization.
• Good understanding of banking product and processes.