Job description:
Job Title: Risk and Control Vice President
Corporate Title: Vice President
Division: Operations
Location: Singapore
Licensed Role: No
Department / Role Overview:
The Vice President of Risk and Control for Operations plays a critical role in maintaining and enhancing the operational risk management framework within the organization's operations division. This position is responsible for ensuring robust governance structures are embedded throughout operational processes while supporting the broader risk management objectives of the firm. The role requires close collaboration with various stakeholders to identify, assess, and mitigate operational risks while ensuring compliance with regulatory requirements and internal policies.
The successful candidate will work closely with regional leadership to execute risk management initiatives and contribute to the continuous improvement of the control framework. This role demands a professional who can balance detailed operational knowledge with strategic risk thinking, ensuring that day-to-day activities align with the organization's risk appetite and regulatory obligations.
Role Description:
- The Vice President will oversee the Risk and Control Self-Assessment (RCSA) process for Operations, ensuring that appropriate challenge is provided to preserve the integrity and purpose of the framework. This involves working closely with operational teams to identify potential risks, assess existing controls, and recommend enhancements where necessary. The role requires regular interaction with process owners to ensure that risk assessments are comprehensive, accurate, and reflect the current operational environment.
- A significant portion of the role involves engaging in discussions concerning the control framework with Internal and External Auditors. The Vice President will cooperate in the completion of audits, including SOX audits, and will be responsible for ensuring that audit findings are addressed appropriately and in a timely manner. This includes coordinating responses, implementing remediation plans, and monitoring the effectiveness of corrective actions.
- The position requires active management of relationships with Operational Risk Management (ORM), Internal and External Audits, Front Office Supervision (FOS), Business Managers, and other Control counterparts. This involves regular communication, coordination of risks, and ensuring alignment on risk management priorities and initiatives. The Vice President must be able to work effectively across different functions and levels of the organization.
- Oversight of Key Risk Indicator (KRI) breaks and exceptions forms another critical component of the role. The Vice President will periodically assess the impact of these indicators, challenge their relevance and effectiveness, and work with stakeholders to enhance the KRI framework. This includes analyzing trends, identifying emerging risks, and recommending adjustments to ensure the indicators remain fit for purpose.
- The role involves comprehensive analysis of incidents and events, performing impact and trend analysis to understand root causes and systemic issues. The Vice President will assess the strategic outlook of proposed actions and ensure that lessons learned are incorporated into the control framework. This analytical work supports both immediate response efforts and longer-term risk management improvements.
- Managing the closure of audit action points and issues represents a key accountability. The Vice President will work closely with department heads to ensure accuracy and completeness of responses, monitor progress against agreed timelines, and escalate issues where necessary. This requires strong ability to influence stakeholders across the organization.
- Active engagement with the Global Functional Risk and Control team ensures functional consistency and standardized control frameworks across different regions and business lines. The Vice President will participate in global initiatives, share best practices, and contribute to the development of firm-wide risk management standards.
- Collaboration with cross-divisional and regional counterparts on initiatives designed to enhance the control and governance framework for Operations is essential. This involves participating in working groups, contributing to policy development, and supporting the implementation of new frameworks or processes.
- The Vice President will initiate projects and analysis as necessary to pave the way for a better control framework within Operations. This includes identifying opportunities for improvement, developing business cases for change, and leading implementation efforts. The role requires entrepreneurial thinking and the ability to drive change in a complex organizational environment.
- Ensuring consistent understanding of relevant standards and guidelines applicable to Operations is crucial. The Vice President will stay current with regulatory