Operational Risk Manager - Fraud Risk

Operational Risk:

• Identify, report, assess, measure, monitor, control and report operational risks and evaluate if risk management practices adhere withstipulated operational risk strategies and policies.
• Regularly engage with relevant stakeholders across locations to understand risks associated with the business and make timely recommendations on risk appetite
• Ensure timely review of RCSA/ risk libraries received from the various risk owners and risk managers - assist in the approval process, check efficacy of the rating and scales assigned from time to time; update the management of any new risks as well as any risks which have to be demised.
• Perform a risk assessment: Analyze current risks including the BCP, outsourcing, emerging and fraud risks and identifying potential risks affecting the Company
• Review business policies/ processes from time to time; suggest suitable changes/ amendments thereto, draft new policies/ processes as may be required from risk management standpoint
• Conducting reviews on critical/ key themes/ processes
• Support in conducting ORMC meeting at periodical interval and implementing/ tracking actions

Fraud Risk:

• Review/ modify Fraud Risk Management Policy and Fraud SOP. Ensure effective on-ground implementation of the policy/ framework
• Create/ conceptualise EWS - Fraud system to proactively identify and prevent fraud

- Proactive Identification/ Prevention of frauds

• Review new/ existing products/ processes from fraud risk perspective
• Review alerts from internal/ external sources. Analyse/ review pattern and trends to prevent fraud scenarios
• Handle resolution/ closure of alerts/ highlight exceptions

- Investigation of frauds (incl Whistle Blower Cases):

• Conduct detailed investigations of actual/ potential fraud cases, suggest corrective/ preventive actions.
• Coordinate/ collaborate with stakeholders for conducting/ closing investigation effectively/ implement fraud prevention strategies/ identify areas for improvement
• Prepare/ finalise detailed fraud report for circulation to stakeholders
• Analyse attempted fraud incidents to review for any concerning trends/ patterns
• Responsible for coordinating/ convening Vigil Working Group and CoE meetings as per requirement
• Reporting of frauds and Monitoring Status:
• Maintain and report fraud incidents internally and to relevant regulatory authority (as required) including handling of FMR and updation to FMR
• Follow-up on ATR/ actionables
• Monitor key trends in industry, regulatory changes, and best practices to ensure compliance with relevant regulations/ standards
• Conduct periodic fraud awareness training to employees and stakeholders
• Continuously improve the operational efficiency and effectiveness of fraud risk management processes/ practices