FIC Risk and Control Assessment

About The Role : 

Job Title:

FIC Risk and Control Assessment (RCA)

LocationMumbai, India

Corporate TitleAVP

Role Description

The Business Control Unit (BCU) is a 1st Line of Defence (1st LoD) function within the front office created during the implementation of the Three Line of Defence (3LoD) programme. Its primary objective is to support the front office in executing Non-Financial Risk framework for its business line.

The primary responsibility of the candidate within the BCU would be to support the Risk and Control Assessment (RCA) process. The RCA is a key component of the Banks Non-Financial Risk (NFR) Framework to enable the effective profiling, monitoring, and management of Divisional NFR. The responsibilities would also include control testing, incident research, remediation and other ad hoc control initiatives and projects. Working closely with teams in and out of the division to understand risks impacting the group on a dynamic basis.

About The Role

The BCU team is principally responsible for:

- Identification and mitigation of non-financial risks (regulatory, conduct and systemic)
- Supporting the operations of an efficient supervisory and conduct framework.
- Ensuring the governance and remediation of a business audit portfolio
- Driving Change the Bank initiatives to support the control framework.

In addition to working closely with the business heads, the groups reach and interaction is broad, including engagement with the Corporate Relationship Management (Coverage) Divisional Control Officer (DCO) and those functions forming the 2nd and 3rd LoD, for example Compliance, Anti Financial Crime (AFC), Non-Financial Risk Management (NFRM), Legal, Group Audit and others. This role will be to support the Global BCU function in various capacities.

What well offer you

As part of our flexible scheme, here are just some of the benefits that youll enjoy

- Best in class leave policy
- Gender neutral parental leaves
- 100% reimbursement under childcare assistance benefit (gender neutral)
- Sponsorship for Industry relevant certifications and education
- Employee Assistance Program for you and your family members
- Comprehensive Hospitalization Insurance for you and your dependents
- Accident and Term life Insurance
- Complementary Health screening for 35 yrs. and above

Your key responsibilities

The Candidate within the team would be primarily responsible for RCA and would be required to-

- Collate and analyse contextual data and relevant data triggers (including read across from other assessments) to inform an accurate and up to date view of the Risk Profile as well as Emerging Risks.
- Update the Inherent Risk, Control Suite & Residual Risk rating and supporting rationale, liaising with Risk Types SMEs in their business.
- Consider the combined effectiveness of individual Key Controls, leveraging available Control Guardrail information, individual Control certification & assessment from Control Owners, and individual Control Assurance results for Control Suite ratings.
- Coordinating and incorporating Anti-Financial Crime and Compliance risk assessments within the business Risk Profile
- Coordinating and participating in quarterly US/ annual global RCA workshop to ensure Risks are discussed and mitigation decisions are documented in the RCA tool.
- Creating monthly RCA snapshot in the tool as a point-in-time Risk Profile for the division and coordinating capture of unresolved 2nd LoD challenges and obtain sign off from Risk Assessor.

Candidate would also be responsible for-

- Support Non-Financial Risk Councils (NFRCs).
- Support validation of DMA (Designated Market Activities) perimeter.
- Ensuring control inventory for Coverage is kept up to date.
- Support all aspects of Front Office Operational Risk Framework from an RCA perspective.
- Provide support for audit reviews and compliance testing.
- Creation and delivery of senior management reporting to support decision making.
- Provide analytical support to the BCU team and senior management decision making.
- Manage ad-hoc tasks as and when required.

Your skills and experience

- MBA in Finance from a premier institution with relevant experience
- Work experience in banking domain working on regulatory projects/ operational risk management.
- Strong interpersonal and excellent verbal and written communication skills. Experience in conducting and driving meetings with senior stakeholders.
- Able to work as part of a global team.
- Experience in managing the RCA process would be preferable.
- Strong computer skills, particularly in dealing with high volume of data, management of databases and Excel.
- Advanced exposure PowerPoint is must.
- Strong analytical skills and ability to formulate clearly and present information in a compelling manner.
- Confident to question the status quo business practice / existing control framework.