Manager - Risk, Private Bank

About the role

The Private Banking (PB) Risk function is responsible for independently overseeing the Private Banking's risk profile in Singapore, ensuring a robust control environment across all risk taxonomies, and advising the business on risk-return decisions in line with the internal Risk Appetite and regulatory requirements, primarily the Monetary Authority of Singapore (MAS). This role acts as a Second Line of Defence (2LoD) partner to the First Line (Front Office/Business) and focuses on non-financial risks such as Operational, Compliance, Conduct, and Reputational Risk, alongside aspects of Credit and Product exposure related to client activities. You will cover a broad range of risks on PB, reporting to Head, HLBS Risk Management.

Key responsibilities

• Assist in assessing enterprise-wide risk management requirements within the PB business and support adherence to respective risk management policies
• Coordinate risk management methodologies and plans in PB businesses and support the development or improvement of existing risk management programs and techniques
• Support the monitoring of PB's risk appetite thresholds and coordinate with respective business units to ensure collective compliance within group risk tolerances
• Conduct independent daily review of the sales process, investment suitability, and advisory activity
• Review and analyze exception reports and Relationship Manager communications to ensure full adherence to the accredited investors risk framework and policies
• Manage and investigate operational incidents, ensuring prompt root cause analysis and the completion of control enhancements
• Identify, assess, and monitor emerging operational and conduct risks on a continuous basis, ensuring timely escalation
• Perform focused risk assessments on high-risk processes, such as complex transactions and client onboarding/wealth transfer
• Review new/variations of products and services to ensure all associated risks are identified and mitigated before launch
• Conduct thorough analysis of risk information and prepare consolidated, concise summaries and dashboards for senior management and risk committees

Key Requirements

• Minimum Degree in Economics, Finance, Business Administration, Accounting, or any related field
• Excellent command of spoken and written English
• Minimum of 5-8 years of progressive experience in risk management, internal controls, or compliance within the financial services industry
• Strong understanding of wealth management products, services, and associated operational and regulatory risks and controls
• Familiar with regulatory requirements and guidance such as Securities and Futures Act, Guidance of PB Controls, PB Code of Conduct, MAS Fair Dealing Guidelines
• Ability to multi-task, manage a high number of priorities in a fast-paced environment and deliver solutions in an effective and timely manner
• Strong preference for candidates with experience supporting group-level oversight and a background in private banking/wealth management industry
• Demonstrable strong urge to learn and adapt