About the Role
This position involves overseeing and ensuring the effective governance and compliance of retail banking operations within the realms of Liabilities, Alternative Channels, Digital Innovation, and Wealth Management. The role is crucial for ensuring that designated Retail units comply with regulatory requirements, internal policies, and risk management frameworks while contributing to the overall achievement of business goals. The officer will be responsible for monitoring, assessing, and implementing controls to mitigate operational risks, identifying areas for improvement, and fostering a strong culture of compliance and operational efficiency.
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Key Accountabilities
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 Risk Control Self Assessment (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 (LOD) recommendations.
- Follow up on issues raised and recommendations made by GIA within assigned departments and monitor Corrective Action Plan (CAP) target dates.
- Ensure that Business Units conduct Gap Assessments.
- Review actions for non-compliant and partially compliant obligatory rules, ensuring wording, criticality, and due dates are clear and achievable.
Coordinate Business Continuity Management (BCM) for RBG:
- Oversee and ensure an up-to-date Business Impact Analysis (BIA) and Business Continuity Plan (BCP) across the Retail Control and Governance Department.
- Follow up to ensure off-site testing is conducted as per schedules.
- Coordinate with BCM Department to obtain RBG completion rate for management reporting.
Specialist Skills / Technical Knowledge Required
- Bachelor’s degree in Business, Finance, Accounting, or a related field.
- Minimum of 8-10 years of experience in Liabilities, Alternative Channels, Digital Innovation, Wealth Management, compliance, risk management, internal audit, or control-related roles.
- Strong understanding of banking operations, internal controls, and regulatory requirements.
- Excellent problem-solving, analytical, and decision-making abilities.
- Ability to communicate complex control and risk concepts clearly and effectively.
- Detail-oriented with strong organizational and time management skills.
