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Risk Control Specialist (Transaction Banking)

Risk Control Specialist (Transaction Banking)

CIMBKuala Lumpur, Kuala Lumpur, Malaysia
1 day ago
Job description

CIMB Federal Territory of Kuala Lumpur, Malaysia

CIMB Federal Territory of Kuala Lumpur, Malaysia

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Talent Acquisition, CIMB Group Commercial & Transaction Banking

  • Review and challenge the division / department strategy from a risk and compliance perspective in alignment to the risk management framework and ensure implementation adheres to Group Operational Risk Management Framework, Policy and Standards.
  • Support and facilitate the roll-out of the Group-wide risk frameworks, policies and procedures for the division / department and provide advice, assurance and validation to ensure the risk management SOPs and divisional control frameworks, policies, and procedures are defined comprehensively and adhere to Group-level risk frameworks, policies and procedures.
  • Act as the first point of contact for Line 1 in providing advice, assurance and validation to the division / department to ensure the risk management SOPs and divisional control frameworks, policies, and procedures are defined comprehensively and adhere to other Group-level risk frameworks, policies and procedures.

Culture and Training

  • Provide advice and assurance to the division / department in monitoring, reporting and escalating any risk culture issues / updates to ensure that they operate within the risk and compliance culture framework as well as escalation of any risk culture issues / updates (including initiatives to address identified risk culture areas for improvement) to Line 2, management and / or relevant risk committees.
  • Promote risk and compliance culture and awareness within the division / department to uplift outcomes through initiating and participating in relevant initiatives, including conducting division / department -specific risk and compliance training / workshops (e.g. for procedural guidance) and increased risk communication within the division / department.
  • Monitor, report and escalate relevant risk culture items to Line 2, management and / or relevant risk committees.
  • Support in the providing oversight on the BUs’ setting of BU-level risk thresholds and other related metrics (e.g. limits, risk metrics tolerances), ensuring that they are within the Bank’s / Group’s risk appetite and Management Risk & Compliance Collective Scorecard.
  • Support in providing oversight on the BUs’ management of risk to ensure that they operate within the BU-level risk thresholds and Group-level risk appetite.
  • Provide advice and assurance to BUs to support development of remediation plans.
  • Provide input to Group risk appetite setting as required.
  • Attend, report to, and escalate where appropriate to the risk committees for division / department related matters, based on the committees’ pre-determined function and role, reporting relationship (e.g. parent or delegated committees), frequency and composition.
  • Provide SME risk advice and assurance to the division / department in the preparation and presentation of materials to relevant risk committees, including validating the materials to ensure quality, accuracy & thoroughness.
  • Liaise with Line 1 and 2 to cross-check division / department and Group-level findings, insights, and analysis to ensure consistency and unified risk representation when presented to committees.

    • Risk identification and assessment

  • Provide advisory and assurance that risks have been appropriately and thoroughly identified by division / department and correctly logged as part of RCSA, including challenging the Line 1 on whether all the material risks have been identified (e.g., verify the identified risks by Line 1 against the Group Risk Library, past LEDs & RCSAs, MRA exercise etc).
  • Ensure risk identification and assessment is done in a complete, accurate and timely manner that conforms to the SOP and templates; includes verification for RCSA (e.g. verify inherent risk rating assignment by Line 1 based on their documented rationale / evidence).
  • Provide advice and assurance to the division / department by supporting it to
  • Identify, assess, monitor and respond to emerging risks.
  • Verify relevant risks / controls impacted by regulatory change are accounted for and implement action plans to address the changes.
  • Provide assurance that risks have been appropriately and thoroughly identified by Line 1 and correctly logged as part of RCSA, including challenging Line 1 on whether all the material risks have been identified (e.g., verify the identified risks by Line 1 against the Group Risk Library, past LEDs & RCSAs, MRA exercise etc).
  • Drive consistency of approach in the assessment and management of risks across the division / department by ensuring Line 1’s adherence to relevant risk assessment procedures (e.g. RCSA).
  • Advise the division / department to ensure timeliness and quality of risk identification, act as the first point of contact for Line 1 for any risk and compliance matters.
  • Provide advice and assurance to the division / department to (a) Determine how changes in regulations will impact the business and control environment, and (b) Verify that the gap analysis performed is comprehensive (e.g., ensure all relevant risks / controls impacted by the regulatory change are accounted for (c) Design and implement action plan to address the changes).
  • Provide advice, assurance and validation to division / department to
  • ensure the respective division / department Control Framework, Policy & Procedures and SOPs are defined comprehensively as per risk and compliance requirements
  • ensure that the division / department adequately balances their needs with risk and compliance management requirements in terms of control design, implementation and operationalisation
  • ensure the RCSA is completed in a timely and correct manner across risk identification and risk assessment; provide the first layer challenge to Line 1 for RCSA outputs that do not conform to requirements (including whether any material items are left out).
  • Identify any controls that are not adequately covered within the Group Controls Library (incl. any flagged by Line 1) and escalate them to the Library owner.
  • Maintain a list of division / department specific non-library controls, created by exception due to specific local regulatory, legal or business requirements (relevant once Group Controls Library has been implemented).

    • Monitoring and reporting

  • Provide advice and assurance to the division / departments in designing and implementing its monitoring activities and its compliance with regulatory and policy obligations, and monitors progress towards mitigating risks.
  • Perform periodic independent reviews (e.g. Line 1.5 Assurance as part of RCSA) to assess if there are deviations to key controls, and to flag them to Line 1 for remediation if found.
  • Provide SME risk expertise, input and advice to support the division / departments in reporting to Line 2, management, Board, Regulators and other external stakeholders.
  • Provide advice and assurance to the division / departments in identifying, assessing, escalating and remediating compliance breaches.
  • Provide support, advice, and assurance to support the division / departments in making accurate regulatory attestations.

    • Action and responses

  • Provide advice and assurance to support Line 1 activities; with focus on :
  • validating CIMs, LEDs before submission by Line 1 to ensure that they are submitted in a timely and correct manner
  • supporting the division / department in the tracking, monitoring, governance and reporting of regulatory commitments as well as identifying regulatory commitments at risk of falling overdue and escalate to relevant stakeholders
  • Support RCU Head in substantiating the final decision on which stakeholder within the division / department owns the compliance breach
  • Act as an escalation point for the division / department to Line 2, playing a key middleman role to facilitate communication between Lines 1 & 2
  • Perform thematic incident cause and controls breakdown analysis at a division / department level
  • Monitor the implementation progress of the action plans against due dates and provide management reporting on the division / department’s management of the incidents
  • Provide advice and assurance to the division / departments in identifying, assessing, escalating and remediating compliance breaches

    • Employee Engagement and Development

  • Monitor performance of the relevant RCU team and QA testers KPIs; including soliciting and incorporating performance feedback from Head of Group ORM and Head of Group Compliance
  • Develop direct and indirect subordinates training needs and development goals to ensure each team member has the necessary skillsets to execute their functions and grow in their roles
  • Comply with HR performance processes and meet internal KPIs
  • Attract, develop and retain talent by ensuring constant engagement surrounding risk & compliance related agenda
  • Actively work to create an environment for the team that encourages open and honest dialogue and escalation of issues

    • Industries

  • Banking

    • Seniority level

  • Mid-Senior level

    • Employment type

  • Full-time

    • Note : This refined description focuses on the substantive responsibilities and role-specific sections. Other non-essential postings and boilerplate have been removed to improve clarity and readability.

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    Transaction Banking • Kuala Lumpur, Kuala Lumpur, Malaysia