About the Role:
The Retail Business Control Officer is responsible for overseeing and ensuring effective governance and compliance within the retail banking operations. This role is vital in ensuring that the retail banking division adheres to regulatory requirements, internal policies, and risk management frameworks while supporting the achievement of business goals. The officer will monitor, assess, and implement controls to mitigate operational risks, identify areas for improvement, and maintain a strong culture of compliance and operational efficiency.
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Key Accountabilities of the Role:
Risk Management & Compliance:
- Assess and monitor retail banking activities to identify potential risks and ensure compliance with all regulatory and internal policies.
- Monitor Key Risk Indicators (KRIs) and ensure scoring as per defined cycles.
- Conduct regular reviews of retail banking processes to verify adherence to controls and compliance standards.
- Ensure proper implementation of risk mitigation strategies in retail units.
- Investigate and address any non-compliance or control weaknesses, recommending corrective actions where necessary.
Process Improvement:
- Identify and recommend process enhancements for improving efficiency, reducing operational risk, and enhancing customer satisfaction.
- Collaborate with other departments to design and implement effective business controls across retail banking operations.
- Analyze business performance and trends to identify areas for improvement and optimize operational workflows.
Control Implementation & Monitoring:
- Develop and maintain key control processes for retail banking services and activities.
- Conduct control testing across retail banking (excluding branches) as per defined RCSA cycle.
- Monitor compliance with control frameworks and provide reports on performance, findings, and recommendations.
- Ensure effective documentation and implementation of all business control processes.
Reporting and Communication:
- Prepare and present detailed reports on operational control performance, compliance status, and any significant issues to senior management.
- Work closely with business units to align control objectives with strategic goals and report on progress.
Support:
- Support Retail Banking Group (RBG) units in complying with Group Internal Audit (GIA) and second line of defense (2nd LOD) recommendations.
- Follow up on issues raised and recommendations made by GIA within assigned departments and monitor Corrective Action Plan (CAP) target dates.
- Follow up and ensure that business units conduct the GAP Assessments.
- Review actions for non-compliant and partially compliant obligatory rules to ensure wording, criticality, and due dates are clear and achievable.
Coordinate BCM for RBG:
- Oversee and ensure an up-to-date Business Impact Analysis (BIA) and Business Continuity Plan (BCP) across Retail Control and Governance Department.
- Follow up to ensure off-site testing is done as per schedules.
- Coordinate with the Business Continuity Management (BCM) Department to obtain RBG completion rate for management reporting.
Specialist Skills / Technical Knowledge Required for this Role:
- Bachelor’s degree in Business, Finance, Accounting, or a related field.
