VP/ED, Product & Third-Party Risk Management Specialist
OCBC Bank · Singapore
WHO WE ARE:
As Singapore’s longest established bank, we have been dedicated to enabling individuals and businesses to achieve their aspirations since 1932. How? By taking the time to truly understand people. From there, we provide support, services, solutions, and career paths that meet their individual needs and desires.
Today, we’re on a journey of transformation. Leveraging technology and creativity to become a future-ready learning organisation. But for all that change, our strategic ambition is consistently clear and bold, which is to be Asia’s leading financial services partner for a sustainable future.
We invite you to build the bank of the future. Innovate the way we deliver financial services. Work in friendly, supportive teams. Build lasting value in your community. Help people grow their assets, business, and investments. Take your learning as far as you can. Or simply enjoy a vibrant, future-ready career.
Your Opportunity Starts Here.
Why join
As a Product & Third-Party Risk Management (PTPRM) Specialist at OCBC, you will play a critical role in protecting the bank's reputation and assets by identifying and mitigating risks associated with product development and third-party relationships. You will work closely with various stakeholders to ensure that our product development and third-party relationships are managed effectively and in line with regulatory requirements.
How you succeed
To succeed in this role, you will need to have a deep understanding of product and third-party risk management principles and practices. You will need to be able to assess and mitigate risks, develop and implement effective risk management strategies, and collaborate with stakeholders to ensure that product development risks and third-party relationships are managed effectively.
What you do
Product Key Responsibilities
1. Group NPAP Governance
- Govern and manage the Bank’s New Product Approval Process (NPAP), ensuring compliance with Group policies, risk governance standards, and regulatory expectations.
- Act as the central coordination point for NPAP matters at the Group level.
2. Policy & Framework Oversight
- Maintain, implement, and enhance the Group NPA Policy and Procedures to ensure they remain robust, current, and aligned with regulatory and business developments.
- Provide oversight and guidance on the interpretation and application of NPA Policy and Procedures to subsidiaries’ PMU / NPAP Facilitators.
- Ensure consistency in NPAP governance, documentation, and approval standards across the Group.
3. Subsidiary Oversight & Functional Reporting
- Provide functional oversight to PMU / NPAP Facilitators in subsidiaries.
- Establish a functional reporting line to Group ORM – PMU to enable effective supervision, information sharing, and escalation of key NPAP issues and risks.
- Review NPAP outcomes, risk issues, and key developments from subsidiaries, and escalate material concerns to Group ORM and relevant governance forums.
4. Continuous Improvement & Reporting
- Monitor NPAP effectiveness and identify areas for process improvement or enhancement.
- Prepare NPAP related reports, thematic reviews, and management information for senior management and governance committees.
- Support internal audit, regulatory reviews, and independent assurance activities related to NPAP.
Third-Party Key Responsibilities
1. TPRM Framework Implementation & Oversight
- Implement and maintain the Bank’s TPRM Policy and Procedures to effectively manage risks arising from third party arrangements, in alignment with regulatory expectations.
- Provide second line oversight on third party risk management conducted by business units and subsidiaries.
- Support decision making by risk committees and management through clear and risk focused assessments and reports.
- Support internal audit, regulatory reviews, and independent assurance activities.
2. Risk Assessment, Methodology & Monitoring
- Assess the adequacy and effectiveness of the methodologies, policies, and procedures used to identify, assess, mitigate, monitor, and report third party risks.
- Review third party risk assessments, due diligence outcomes, ongoing monitoring results, incident reports, and control deficiencies.
- Evaluate the robustness of third party risk monitoring and management reporting, including key risk indicators and escalation triggers.
- Ensure third party risks are managed on an end-to-end basis throughout the arrangement lifecycle (onboarding, renewal, change, and exit).
3. Advisory on Onboarding, Renewal & Changes
- Provide independent risk opinions and recommendations relating to: Onboarding of new third party arrangements; Contract renewal or extension of existing arrangements; Risk acceptance or deviations from TPRM requirements; Material changes to the scope, risk profile, or criticality of third party arrangements.
4. Training, Awareness & Capability Building
- Promote organisation wide awareness of third party risk management requirements and regulatory expectations.
- Design and deliver TPRM training and guidance to Service Owners, business units, and relevant stakeholders.
- Provide ongoing advisory support to ensure consistent understanding and application of TPRM requirements.
5. Group & Subsidiary Support
- Provide advice and guidance to subsidiaries on the interpretation and application of the Group TPRM Policy and Procedures.
- Support consistency in TPRM practices across the Group while considering local regulatory requirements and risk environments.
- Engage subsidiaries to identify gaps, remediation actions, and opportunities to strengthen third party risk management capabilities.
Who you are
- A degree in a relevant field, such as risk management, finance, or business administration.
- At least 6 years of experience in risk management, preferably in a financial institution.
- Strong understanding of third-party risk management principles and practices.
- Excellent analytical and problem-solving skills.
- Effective communication and collaboration skills.
- Ability to work independently and as part of a team.
What we offer:
Competitive base salary. A suite of holistic, flexible benefits to suit every lifestyle. Community initiatives. Industry-leading learning and professional development opportunities. Your wellbeing, growth and aspirations are every bit as cared for as the needs of our customers.