Risk Manager

Role Overview and Key Responsibilities

The Risk Manager will collaborate closely with the Branch to facilitate the transition and ongoing compliance with the new Monetary Authority of Singapore (MAS) standards for Third-Party Risk Management, emphasizing the convergence of outsourcing with technology risks. This role involves comprehensive evaluation of due diligence results for third-party service providers, including subcontractors.

Focused assessments will address high-risk technology vendors such as Cloud Service Providers and AI suppliers, analyzing associated emerging risks within the third-party ecosystem. The position requires continuous review and refinement of Service Level Agreement (SLA) metrics to uphold stringent oversight of critical service partners and determine the potential ramifications of third-party service disruptions on essential business functions.

The manager will critically appraise the first line of defense’s Risk Controls Self-Assessment outputs on third-party and supply chain risk management, oversee control environment testing conducted by frontline teams, and examine incident management processes — especially relating to technology, cybersecurity, and information security risks—to ensure appropriate escalation, root cause analysis, and effective remedial actions.

Additionally, the role entails monitoring and improving Key Risk Indicators and management dashboards to provide transparent insights into the third-party ecosystem’s health for local and head office stakeholders. Staying current with evolving MAS regulatory frameworks on third-party risk, outsourcing, technology risk management, and cybersecurity is critical. The incumbent will also offer backup support for market risk reporting within the broader Risk team on an occasional basis.

Candidate Requirements

• Possess a Bachelor’s degree in Information Security, Data Science, or a related discipline.
• Bring a minimum of six years’ experience in third-party risk management, Internal or External Audit, Technology Risk, or Cybersecurity Risk within the banking sector.
• Demonstrate a robust understanding of MAS regulatory developments concerning operational resilience, third-party risk management, outsourcing, MAS guidelines on Technology Risk Management, and cyber hygiene (FSM-N06).
• Hands-on knowledge of Cloud security architectures and familiarity with emerging risks related to AI technologies is advantageous.