Head of Operational Risk, General Insurance
Salary + Attractive Benefits
Location Kuala Lumpur
Consultant Anthony Lim
Date posted 04 April 2018Menara 3 Petronas Persiaran KLCC Kuala Lumpur 50088 Robert Walters Malaysia
An exciting Head of Operational Risk, General Insurance role has just become available with a global insurance firm to be based in Kuala Lumpur. Reporting to the Group CRO, the incumbent will be leading the ORM function of the General Insurance entity for the Group with about 2 direct subordinates. This is a role for an experienced ORM professional that has strong experience and exposure in both ORM and General Insurance to set up to lead the ORM function for the firm.
About this Head of Operational Risk, General Insurance Role:
In this business critical role, you are responsible to assist the Group Chief Risk Officer in developing and driving a sound risk culture and business continuity activities across the firm, including raising risk, risk management and business continuity awareness while as performing training as and when required.
- Identify, measure, monitor and manage all operational risks embedded into the firm businesses by developing a sound, open and pro-active risk culture, working closely with functional units while also help the management to minimise losses and negative outcomes arising from operational risks
- Ensure compliance with Group Standards & Regulatory requirements in terms of establishing an effective and comprehensive Enterprise Risk Management framework
- Some key coverage areas include:
- Facilitate Annual Risk Assessment: conduct risk assessment workshops, prepare checklists and provide guidance to stakeholders to carry out risk self-assessments using the Risk Register and also to collate the results of the risk self-assessments, identify and report the risks to the relevant stakeholders
- Loss Incident Collection: escalation standard is formalised and in-force across all departments, lead implementation of Operational Risk Management tools across the firm, conduct training on Loss Incident Collections, etc
- Risk Scenarios Quantification: documentation of minimum number of operational risk scenarios aligned with Group maturity model
- Risk Appetite & Risk Response: timely review on Operational Risk statement & Reporting and action plan of risk scenarios and losses
- Crisis Management and Business Continuity: to co-ordinate firm level Business Continuity Plan activities as per firm and regulatory requirements and also to raise Business Continuity Plan awareness
- Compliance: ensure compliance with the requirements of local regulations and any other relevant statutory regulations and guidelines, internal and/or external
- Identify causes of loss incidents and rigorously identify potential unexpected losses, and upward escalations to senior management on a timely manner for resolutions
- Drive a sound risk culture, promoting open discussion within the business, debate and challenge across functional units, independent peer review as norm in key decisions, pro-active management of risks & issues
To be successful in this Head of Operational Risk, General Insurance role, you would possess strong communication and presentation skills to liaise with stakeholders of various seniority within the organisation.
- Degree in accountancy, finance or related areas; professional qualifications an added advantage, especially relevant Enterprise Risk Management or Insurance qualifications relevant to the role
- Minimum 5 years of working experience in operational risk (financial services), audit, governance or assurance
- Technical knowledge of Operational Risk Management tools and its application within the general industry sector
- Strong analytical and problem solving skills with excellent verbal and written English communication skills
- Good team player, positive thinking, highly motivated and eager to learn and develop personally
This global insurance firm needs no introduction and is recognised in its own field of expertise. With great clients and known for their corporation culture, the firm is on the path to paving its way for creative and innovative insurance products for private and corporate consumers. The culture is demanding but if you are confident and have a can-do attitude the potential rewards are significant. The firm is also very focused on developing and training their people to the highest standards.
If you are driven, determined and want to take the next step in your career , this is the role for you. Great career progression opportunities await the right person in this exciting Head of Operational Risk, General Insurance role.
Apply today or call me to discuss this opportunity.
Business Registration Number: 729828-T
Licence Number: JTK2125
Business Registration Number: 729828-T Licence Number: JTK2125