Principal, Enterprise Risk Management

Kuala Lumpur
Permanent
Full-time

2 months ago

FIND YOUR 'BETTER' AT AIAWe don’t simply believe in being ‘The Best’. We believe in better - because there’s no limit to how far ‘better’ can take us.We believe in empowering every one of our people to find their 'better' - in the work they do, the career they build, the life they live and the difference they make. So that together we can support even more people - including our own - to live Healthier, Longer, Better Lives.If you believe in better, we’d love to hear from you.About the RoleSupport role in Enterprise Risk Management Department which works as a second line of defense in partnership with the business (as first line of defense) to coordinate the risk management process throughout AIA Bhd. and its related group of companies to ensure all element of risks are properly identified, assessed, mitigated and reported in line with the BNM Guidelines as well as AIA policies requirements.
This position works closely with the members of the Risk Committees i.e. mainly Executive Committee as well as Head of Departments by monitoring and reporting risk related matters with focus on operational risk.
Responsible for establishing and maintaining the overall operational risk program to ensure the company’s interests are adequately protected and within the risk appetite approved by Board.
The individual in this position is responsible for identifying, evaluating and reporting on operational risks in a manner that meets regulatory, group, management and other compliance requirements. The individual works proactively with the various business units and other internal departments and organizations to implement practices that meet the regulatory, Group’s and Company’s defined guidelines, risk policies, standards and/ or procedures.1. Risk Management Framework, Policies and Procedures and system

Support coordinating in the implementation of risk management process throughout AIA Bhd. and related companies as required according to the Board approved risk methodology.
Support rolling down the Risk Management Framework/ Policy and related risk policies from group as well as establishing relevant risk policies and procedures to meet local regulatory requirements. This includes review on a periodic basis to ensure continued relevance and appropriateness, as well as updating as necessary the relevant risk policies, incorporating feedback of Board and Management - this includes establishment of risk appetite, risk limits and review of the existing key risk indicators (KRI) and thresholds.
Works closely with all business functions to ensure all elements of operational and strategic risks are properly identified, assessed, mitigated, monitored and reported by implementing the Risk & Control Assessment (RCA) program at AIA Bhd, and related companies as required. Entails assisting EXCO and respective Head of Department (HOD) to identify key operational risks in their respective areas. Subsequently, assist them to analyze and assess their risk in light of the AIA approved risk methodology. Thereafter to ensure that appropriate controls are in place and risks are managed within the approved risk appetite framework, covering control testing.
Ensuring all incidents (including interpretation and roll down of relevant requirements) are captured and reported on a timely, accurate and complete basis to BNM, Group and/ or management, as well as to work with respective functions on root cause analysis with a view to prevent/ reduce recurrence and/ or impact of any similar incidents.
Ensuring all Key Risk Indicators (KRI) required for reporting to BNM are accurate and timely. Supporting EXCO and HOD, to establish key risk metrics for monitoring as well as assessment of trends for any potential areas of concern. Such assessments should be tabled to the appropriate forums/ persons so that timely actions could be taken, noted and/ or key risks mitigated to the appropriate level.

2. Reporting and deliverables for Boards, Risk Committees, Regulators, Group and Management

Prepare/ complete all relevant materials/ papers on timely basis highlighting key risks, mitigating controls and action owner for EXCO, Group, respective local Risk Management Committees, Board Risk Committees and/or Board.
Monitor and ensure the execution of relevant action plans which includes materials prior and post meeting, logistics, minutes and matters arising as directed by the respective local Risk Management Committees, Board Risk Committees and/or Board within agreed timeline and acceptable standard of quality.
Conducting Regulatory as well as internal (local and Group) review and reporting, including but not limited to the below:

Operational risk - BNM ORR (KRI and loss event), outsourcing risk management, Business case, New projects, Product implementation, Scenario Analysis (OR and Climate Risk)3. Embedding risk management

Creating a positive risk-based culture, where a robust risk assessment process is embedded that business units implement proactively and on an integrated basis.
Embedding Integrated Risk Management, equipping and enabling risk owners to discharge their duties.
Coordinate risk management education and awareness to educate all employees on risk management process on a continuous and regular basis;
Providing risk assessment support for strategic/ business initiatives and products as well as relevant project management, outsourcing arrangements and investments

Provide ERM awareness training during induction and risk workshop for senior managementEnsuring the requirements stated in all relevant guidelines relating to risk management are in place, including submission of relevant reports by stipulated timelines. Responsible for ensuring the required deliverables for the board level and management level risk committees as well as Group reporting are available on timely basis and of quality. This includes follow up on matters brought up by the risk committees. Monthly incident management reporting to Senior Management where necessaryAble to verbally and in written form articulate and communicate well with all levels of staff including Group Risk and Local Management, regulators and auditors.Able to articulate and communicate with stakeholders, business partners, regulators and other government bodies, in a clear and concise manner.

Degree in related field including Risk Management, Accounting, Actuarial Science, Finance, IT or Business with 8-15 years relevant work experience in the financial industry handling risk management, internal audit, compliance and/ or controls
In-depth understanding of the Insurance/ Takaful business preferred and, in lieu of insurance, financial services.
Good interpersonal and communication skills and self-motivated.
Good written and spoken communication skills in English and local language.
Independent and be able to work under pressure
Be organized, detail-oriented and analytical
Possess leadership, coaching and influencing skills; business acumen; problem solving skills
High level of integrity and take ownership and accountability of results

Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives.You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.

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