Job Location: The Campus, Hlaing Thar Yar Township, Yangon.
Lead the Operational Risk Management domain by developing, implementing, and overseeing the organization’s operational risk management framework. This role involves identifying, assessing, mitigating, monitoring, and reporting operational risks to ensure compliance with regulatory requirements, protect the organization from financial losses, and enhance operational resilience. This role will also play a major role in driving risk-aware culture across the organization in advocating management and educating the first line teams on operational risk related matters.
Key Result Areas
- Lead operational risk management process in accordance with laws and regulations to which DMM is subject to and business requirements
- Minimize operational risks, fraud, reputational and other losses/impacts for the business
- Support R&C and local policy owners to assess Risk and Compliance with the business
- Lead the reviews of status of compliance risk and mitigating activities in accordance with Key Risk Indicators (KRIs) threshold and Risk Register
- Conduct the control testing of related operational risks mitigation plan
- Assist with identifying risk changes and escalates material changes to line manager
- Identify and escalate to line manager any noncompliance with Code of Conduct and Policies including but not limited to Compliance and Risk matters
Key Responsibilities & Accountabilities
- Act as the primary point of contact for operational risk-related matters
- Identify and evaluate potential operational risks across various business units and processes.
- Conduct risk assessments, including scenario analysis and stress testing, to understand vulnerabilities and their potential impacts.
- Maintain an operational risk register, ensuring risks are categorized, prioritized, and updated regularly.
- Update, review, and advise on Risk Management framework, policies, standards, and guidelines.
- Actively participate in the Operational risk identification, assessment, treatment, and reporting process.
- Analyze Operational Risk situations and advise to develop effective risk treatment plans to mitigate the risk.
- Track, monitor, and validate all Operational Risk matters in the risk register timely.
- Review and Assess Business Continuity Planning, Disaster Recovery and Crisis Management plans and activities.
- Conduct due diligence of operational risk in relation to new products and/or services and outsourced activities.
- Perform risk & control assessments on Operational risks and processes to articulate and explain the risk and propose mitigating controls to reduce the risk.
- Prepare and present the risk report to all relevant committees.
- Participate in the transformation of Operational Risk Management function by exploring opportunities to optimize the risk management practices.
Key Performance & Success Indicator
- Wave Money business continuity in country
- Analytical and problem-solving skills
- Excellent communication and presentation skills
- Strong organizational and project management abilities
- Leadership and People Management skills
- Knowledge on regulatory requirements and Risk Management Standards
Key Stakeholders
Stakeholders/Counterparts to communicate, coordinate and get in touch: All areas of Wave Money
Competencies
- Professional relevant certifications such as CRMP, ORMC, FRM, CRISC or CISA will be an added advantage.
- Strong knowledge of risk management frameworks such as COSO, ISO 31000, NIST SP 800-53.
- Strong Analytical and problem-solving skills, with the ability to assess risk scenarios
- Possess sound knowledge of Operational risk management governance, processes, policies, and lifecycle
Experience, Functional Skills and Knowledge Areas
- Bachelor’s degree in Business Administration, Finance, or a related field.
- Possess experience and knowledge area in internal control, risk management, audit or related experience with 5+years of relevant working experience in the Financial / Banking IT industry and minimum 3 years of working experience in Governance, Risks & Control.
- Functional skills as outlined below:
- Independent
- Pro-active
- Analytic
- Persistent
- Keen learner
- Good English/Business Report writing and communication skills
- Good working knowledge of Microsoft package and presentation skills
- Strong communication skills with the ability to explain findings and proposed solutions
