Recognize and evaluate potential risks across various facets of the organization, including operations, finance, compliance, technology, legal matters, and fraud detection through in-depth discussions with employees, customers, regulators, and third-party experts.
Analyze identified risks and conduct statistical analyses to quantify risk in terms of their likelihood and potential impact, prioritizing them based on their significance.
Utilize data analytics and modeling techniques to quantify and predict potential risks, generate risk disclosure and risk maps, and facilitate informed decision-making.
Collaborate with different departments and stakeholders to establish strategies, policies, and procedures for mitigating, avoiding, or transferring risks.
Evaluate insurance needs, and negotiate insurance policies.
Ensure organizational activities adhere to relevant laws, regulations, and industry standards; recommend necessary adjustments. Keep an eye on emerging regulations that may affect business risk positions and translate the impact of new regulations into practical advice for business leaders.
Devise and execute crisis response plans to effectively manage and mitigate the effects of unforeseen events or emergencies.
Prepare regular reports for executive leadership and stakeholders, summarizing findings, risk profiles, mitigation efforts, and recommended actions.
Requirements
Solid understanding of the financial industry's specific risks and regulatory landscape.
Proficiency in analyzing complex data, assessing risks, and devising effective mitigation strategies.
Experience in data analytics, visualization and reporting.
Familiarity with risk management software, data analytics tools, and relevant technologies and knowledge.
Excellent written and verbal communication skills for effective interaction with colleagues, stakeholders, and leadership.
Strong critical thinking and problem-solving abilities to address challenges and develop innovative solutions.