Associate Director, Business Operational Risk & Reporting

What is the opportunity?

CACEIS was set up in Cyberjaya, Malaysia in July 2023 with approximately 1,000 employees, with the acquisition of RBC investor Services’ European business and Malaysia centre of excellence.

As a centre of excellence, the team in Malaysia provides asset services, custody and payments for clients in Europe (Belgium, Ireland, Luxembourg, Switzerland and United Kingdom) with a global operating model that maximises efficiencies across time zones, supports 17/5 operational capability with follow the sun model, enhances scalability of our global operations and the implementation of standardized processes.

Business Operational Risk & Reporting team is embedded in CACEIS IS Bank Client Operations business and represent an integral component of an effective 1st Line of Defense.

Business Operational Risk & Reporting is a global function responsible to:

• Execute the Enterprise Operations Risk Management (EORM) Framework limited to specific programs in order to determine and report an independent point of view of the “Operational Risk Profile” , and escalate issues as required.
• Challenge the business of their understanding of their risk and the status and adequacy of their controls, inclusive of proactive risk management.
• Review and provide assurance that the Operational Risk management practices in their respective businesses are effective, meet CACEIS’s enterprise level requirements, and are followed consistently across the business.
• Consult and advise on the design of risk management practices within the Business to effectively identify and mitigate operational risks.

Associate Director, Business Operational Risk & Reporting, you will analyze, challenge and report an independent point of view resulting in an independent opinion on the Operational Risk profile of assigned risk activities and challenging the Business on their understanding of their risk profile and the status and adequacy of the controls as they relate to risk activities. This is achieved by executing, managing & adapting practices relating to risk activities regionally.

Region: APAC

Working hours: 9:00PM to 6:00PM

What will you do?

• To effectively understand the risks of securities products namely, Funds, Custody, Market Services and Private Equities.
• To be in charge of risk predictive analysis, reporting & governance, and communicate effectively to senior management committee.
• Independently lead and challenge the risk practices & quality required in alignment with enterprise level standards. (e.g. Operational Risk Events, Control Assessments, Risk Mapping, KRIs, Risk Reporting, Proactive Risk Management etc.
• Review Operational Risk Events to understand root causes, process deficiencies and control failures. Conduct root cause analysis to identify control gaps for internal events, as per policy and if required by management.
• Ensure appropriate risk and control monitoring programs are efficient and in place in order to identify and prevent process gaps; implement testing protocols across locations covered as required by the Operational Risk Practices to ensure policies, procedures, and controls are designed adequately and executed effectively in order to reduce the residual risk in-line with the risk appetite of CACEIS Malaysia.
• To provide expert operational risk and control advice to senior business leaders in the region through attendance on senior management committees and meetings with authority to challenge and escalate appropriately. Where required a risk assessment paper to be produced to highlight risks and solutions.
• Promote risk culture and ensure the 1st line of defense has an appropriate control risk approach to support identification and management decision.
• Consult and challenge the business on their understanding of their risk and the status & adequacy of the controls. Influence key stakeholders to challenge the adequacy of their control environment.
• Support the Director of Business Operational Risk & Reporting with coverage on all risk practices, in line with the global risk governance and oversight model.
• Support Director of Business Operational Risk & Reporting with local, regional and global reporting requirements, including KRI development and roll out (risk heat map).
• To actively call out and participate in risk thematic reviews for operations from error trend analysis.
• Develop and deliver risk awareness and mitigation training to the local region • Follow up on mitigation actions plans - collect updates from various Operational Risk Committees.
• Direct involvement in internal audit preparation from walkthroughs, documenting findings and thereafter, managing action plans with key stakeholder to ensure minimal audit impact.
• Oversight of ISAE programs in Region where applicable, in line with enterprise
• Assess consistency & maturity of practice execution in each region. Provide support, guidance & training to improve execution in each region across all products.
• Ensure application of policies and procedures.
• Using a risk/control-based approach, participate in/actively contribute to the Business-level, Country-level and Enterprise-level Operational Risk and Control Self-Assessments Program to ensure standardization and consistency of practices in the end-to-end process.
• Review and challenge Risk Control Assessments as articulated by process owners.
• Collaborate with colleagues across CACEIS Malaysia and Group Risk Management to execute risk practices.
• Manage risk and control practice communications including status reports to relevant executives, stakeholders, business units, etc.
• Provide senior management with timely updates on specific risk exposures and contribute to specific risk subjects on various governance bodies in CACEIS Malaysia.