Senior Specialist, Operational Risk

Employment Type: Full-Time

Level: Senior-Level

We are seeking an experienced, analytical, and risk-focused Senior Specialist, Operational Risk to strengthen the organization's operational risk management framework, identify and assess business risks, monitor key risk indicators, and ensure effective controls across business and support functions. This role will work closely with Business Units, Risk, Compliance, Internal Audit, Finance, Operations, Technology, and senior management to maintain a strong operational risk culture and ensure alignment with regulatory requirements. Current Malaysia-based banking roles emphasize RCSA, KRI, operational risk incidents, regulatory reporting, new-product risk assessment, third-party risk, and risk dashboards. (LinkedIn)

Key Responsibilities

• Act as a trusted operational risk advisor to Business Units and Functional Lines.

• Identify, assess, monitor, and report operational risks across business processes and activities.

• Facilitate and coordinate Risk & Control Self-Assessment (RCSA) exercises across relevant business units.

• Develop, monitor, and maintain Key Risk Indicators (KRIs) and risk thresholds.

• Review operational risk incidents, loss events, control weaknesses, and emerging risks.

• Conduct root-cause analysis and evaluate corrective and mitigation actions.

• Monitor remediation activities and ensure agreed risk actions are tracked through completion.

• Assess operational risks arising from new products, services, systems, processes, and material changes.

• Review the effectiveness of existing controls and recommend improvements where required.

• Prepare and coordinate Operational Risk Reporting (ORR) and regulatory submissions.

• Develop operational risk dashboards, management reports, risk indicators, and analytical insights.

• Ensure regulatory reporting is accurate, complete, and submitted within required timelines.

• Monitor changes in regulatory requirements and assess their impact on operational risk frameworks and processes.

• Support the development, review, and implementation of operational risk policies, procedures, standards, and guidelines.

• Conduct operational risk assessments for outsourcing arrangements and third-party/vendor relationships.

• Support vendor risk onboarding, due diligence, periodic reviews, and renewal assessments.

• Collaborate with Compliance, Internal Audit, Technology Risk, Information Security, Business Continuity, and other assurance functions.

• Facilitate operational risk workshops, awareness sessions, and training for business stakeholders.

• Promote risk awareness and strengthen a proactive risk-management culture across the organization.

• Monitor operational risk trends and provide recommendations to senior management.

• Support business continuity, incident management, and crisis-management activities where applicable.

• Maintain accurate risk registers, assessment records, incident databases, reporting documentation, and audit trails.

• Participate in strategic risk initiatives, system enhancements, process improvements, and other special projects.

• Provide constructive challenge to business units regarding risk identification, control effectiveness, and mitigation plans.

Requirements

• Minimum 5 years of relevant experience in Operational Risk Management, Risk Management, Banking, Financial Services, or a related field. Current Malaysian senior operational-risk roles commonly request approximately 5+ years of relevant banking/financial-services experience. (LinkedIn)

• Strong knowledge of Operational Risk Management, Non-Financial Risk Management, internal controls, and risk governance.

• Strong practical experience with RCSA, KRI, operational risk incidents, control testing, and risk assessments.

• Knowledge of regulatory requirements and guidelines issued by Bank Negara Malaysia (BNM) is highly preferred. (LinkedIn)

• Experience preparing or coordinating regulatory operational-risk reporting and submissions.

• Strong understanding of banking operations, financial products, business processes, and operational risk exposures.

• Experience conducting risk assessments for new products, services, systems, and material process changes.

• Knowledge of third-party, outsourcing, technology, or cyber operational risk is an advantage.

• Strong analytical and quantitative skills with the ability to interpret risk data and identify emerging trends.

• Advanced proficiency in Microsoft Excel, PowerPoint, and risk reporting tools.

• Experience with dashboards, data analytics, Power BI, SQL, or risk-management systems is an advantage.

• Strong root-cause analysis, problem-solving, and critical-thinking abilities.

• Excellent stakeholder-management and communication skills.

• Ability to explain complex risk concepts clearly to both technical and non-technical stakeholders.

• Strong project-management skills and ability to manage multiple risk initiatives simultaneously.

• High level of integrity, attention to detail, and professional judgment.

• Ability to work independently with minimal supervision in a fast-paced environment.

• Bachelor's degree in Finance, Banking, Risk Management, Accounting, Economics, Business, Statistics, Mathematics, Engineering, or a related discipline is preferred.

• Professional certifications such as FRM, PRM, AICB, CFA, ICA, or other risk-management certifications are an advantage.

• Experience in digital banking, technology risk, or fintech environments is an advantage. (LinkedIn)

What We Offer

• Opportunity to work across Operational Risk, Non-Financial Risk, Regulatory Compliance, Governance, and Risk Analytics.

• Exposure to RCSA, KRI, incident management, regulatory reporting, third-party risk, and new-product risk assessment.

• Opportunity to work directly with Business Units, Risk, Compliance, Internal Audit, Technology, and senior management.

• Hands-on experience strengthening enterprise-wide risk frameworks, controls, and risk culture.

• Exposure to digital banking, technology risk, emerging risks, and regulatory transformation initiatives.

• Career progression into Operational Risk Manager, Senior Operational Risk Manager, Operational Risk Lead, Head of Operational Risk, Non-Financial Risk Lead, or Chief Risk Officer roles.

• A professional, analytical, and risk-focused working environment.

• Professional training, industry certifications, mentorship, and continuous career development opportunities.

• • Competitive compensation, performance incentives, and comprehensive benefits package.