The posting
Job Purpose:
The Control Testing role is to assist with the provision of testing and quality assurance over the implementation and execution of areas that fall under the responsibilities of Business Risk & Governance.
To implement the internal control framework within Wholesale Banking Group and associated governance across key risk areas and ensure that all risks have adequate controls in place.
The role holder is responsible for assisting in the undertaking of Quality Assurance reviews and preparation of reports for each functional review as per the Bank’s internal procedures to document identified observations and ensure the Bank is protected from a regulatory perspective.
Key Accountabilities:
- Quality Assurance of Implementation of process and governance related changes for the 1st line of defence, following the methodology and strategy set by the department head.
- This will involve monitoring key controls on a cyclical basis and reporting the findings via written reports.
- Exercising oversight, monitor, investigate and enforce corrective actions in respect of all controls, processes, regulatory and compliance guidelines across all customer touch points in WBG.
- Reviewing Policies and Procedures related to WBG/TBG products based on regulatory guidelines and/or observations from Audit, Operational Risk, AML/Compliance/ Fraud etc.
- Reviewing Audit and Internal Control reports on coverage teams, Trade and PCM/Escrow Operations, engaging with relevant teams and suggesting MAPs for issues reported therein
- Ensuring RCSA are done as per the framework for all WBG/TBG processes / functions
- In conjunction with Ops Risk, facilitate development of Risk, Control and Security Assessments (RCSAs) which identify the key risks, their impact and the relevant controls.
- Leading and facilitating RCSAs refresh workshops, in order to support functions, manage their key risks.
- Involves challenging management when good business risk management is not evident e.g., poor RCSA’s, slow resolution of outstanding issues. Escalate should be made where necessary.
- Develop and manage annual BRG plan for the execution of key activities
- Review and assess impact of key regulations related to WBG – process and technology
- Provide guidance and input on key regulatory concerns or matters requiring attention as highlighted by internal and external stakeholders
- Managing relationships with key contacts and stakeholders. These are likely to include Chief Compliance Officer, Head of Operational Risk and Chief Internal Audit and other Coverage GMs.
- Regularly present on compliance matters to senior management of WBG and recommend strategic or operational amendments for WBG activities
- Quality Assurance on the coverage activities including but not limited to new customer onboarding, customer annual reviews, customer call reports, ongoing due diligence, etc.
- Coaching and training staff of all relevant staff to embed the right culture.
- Monitoring customer onboarding procedures of frontline staff to ensure compliance with regulations and internal policies.
- Assist with audit execution and engagement with audit team on identified observations, representing the front line.
- Monitoring on MAP's, issues and closure by the agreed timelines, through engagement with FLOD to achieve closure of MAP’s.
- Test the quality of submission against agreed MAPs before submission to audit for the closure report.
- Responsible for incident management reporting, including governance and coordination with respective units for closure of actions evolving from the incidents.
- Testing of WBG adherence to the new product approval policy.
- Testing the controls over the 1st line of defence activities within the WBG units.
- Perform QA reviews by following the approved annual quality assurance schedule, work with relevant stakeholders to assess adherence to processes and strength of control framework.
- Identify gaps and recommend corrective actions to ensure the Bank is protected from compliance risk perspective.
- Draft reports of each functional review and record & track the implementation of review observations and recommendations.
- Produce MI in relation to the reviews undertaken to Head - BRG
- Maintain a monitoring program to ensure effective execution of testing assignments and to track that remedial actions or control improvements are implemented.
Requirements
Experience & Academic Qualifications:
- Relevant product knowledge including knowledge of Experience of Control Monitoring Testing and Facilitating Risk and Control Assessments (RCAs) is required.
- Bachelor's Degree as a minimum from a recognized university.
- Well versed with local regulations, banking systems, concepts and banking best practices.
- Minimum of 5 years’ experience in a financial institution in a similar role.Minimum of 2 years’ experience in control testing/ quality assurance role.
- Past working experience in a relevant role, i.e., Proven experience of implementing 3 Lines of Defence Models, with focus on testing 1st Line of Defence Controls.
