Our client operates in the Financial sector, with its headquarters rooted strongly in the United States. It has its branches spread to more than 160 countries, providing employment to more than 200k people all over the world. They fall in the Top 15 largest Banks in the United States. Its core business is to provide various Banking and Financial services to its clients. It is known to have one of the biggest balance sheet banks in the world (among others) aiding it to offer 360-degree financial services to its clients.
- The APAC Risk Management Legal Entity Oversight Coordinator role provides unique visibility and exposure to different countries, businesses, functions, products, and risk types.
- The candidate will have significant interaction with the APAC CRO, senior management, and subject matter experts as well as direct responsibility for one of the most critical strategic projects in the region.
Key responsibilities are as follows.
- Establish and ongoing oversight of Legal Entity Risk Management Frameworks (RMF), Policy, Standards and Procedures in line with minimum baseline standards and local regulatory requirements for all applicable entities in APAC.
- Establish and ongoing oversight of the Legal Entity Risk Appetite Framework (RAF), Policy, and Standards in line with minimum baseline standards for all applicable legal entities in APAC.
- Ensure that dispensations are sought where minimum standards are not being met.
- Oversee implementation of Risk Management Information (MI) tools.
- Monitor and report all relevant risk categories and types against appetites set to the relevant committees and/or boards within the region in a timely fashion.
- Perform gap analysis of Legal Entity capabilities against the baseline standards for RMF, RAF and MI for all applicable entities in APAC.
- Establish the necessary remediation plans to ensure a path to green including any interim risk mitigation controls that may be required.
- Participate in Risk MI tool development through the provision of detailed requirements to the development team, participation in UAT, gap analysis and remediation through to go-live in production.
- Transition development of Legal Entity RMF, Legal Entity RAF, and MI to a BAU process including establishing any required annual review process for legal entities.
- Engage with regional peers and central resources on ongoing development to ensure globally consistent approach for any required enhancements of Legal Entity capabilities.
- Participate in Legal Entity tiering discussions (for relevant Legal Entities) including proposals to change tiers, ensuring implications are fully considered and appropriate steps are taken to meet minimum baseline standards.
- Provide strategic analytics and information management to senior management. Responsible for communicating implications of existing Legal Entity-related regulations and developing potential responses.
- Analyze new risk-related guidelines, best practice standards, rules and regulations. Provide updates, as needed, to management and regulators on exam and issue remediation status including progress against milestones, risk identified and any other potential impacts
- Significant interaction with a wide range of senior bank and risk management colleagues, as well as external stakeholders such as regulators / auditors.
- Initiate feedback sessions with global and legal entity teams; leverage feedback to influence change throughout organization.
- Manage regulatory or Internal Audit examinations related to legal entities to achieve full compliance.
- Appropriately assess risk when decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
- Bachelor’s/University degree, Master’s degree preferred.
- 10+ years Risk experience in a global organization, with experience in product program governance and risk management frameworks.
- Strong knowledge of multiple risk categories spanning Financial (e.g., Market, Credit, Liquidity) and Non-Financial (e.g., Operational, Compliance, Reputation and Strategic).
- Strong awareness of both bank (including Branch network) and broker dealer chains and their respective strategies, products, risk profiles and regulatory requirements in a global marketplace
- Knowledge of applicable frameworks, policies, and standards.
- Broad understanding of classifiable and delinquency managed credit and operational policies and procedures; ability to interpret financial and risk reporting.