RISK OFFICER

Group Company: BANK OF THE PHILIPPINE ISLANDS

Designation: RISK OFFICER

Office Location: Makati (BPI BUENDIA CENTER)

Position Description

• J ob Purpose
  
  

The Risk Models Validation (RMV) Officer is primarily responsible in the execution and implementation of the risk management function and provide reasonable assurance and independent review of the use of existing as well as proposed risk models.

The position augment s the increasing use of more advanc ed quantitative models in the fi nancial industry. Model risk has been identified as an emerging risk in recent years, and the use of models have received greater attention from the industry, regulators, senior management and the board . The position will support the RMV Head in implementing the overall risk strategies and objectives of the Risk Management Office as directed by the Department Head, Division Head, Chief Risk Officer (CRO) and the Board through the Risk Management Committee ( RMCom ).

The RMCom , through RMV, shall be the Bank’s model risk manager and owner of the model governance framework.

• Organization al Context
• Main Accountabilities
  
  

The position is responsible for the evaluation, monitoring, and control of model risk management and the conduct of independent model validation activities across the Bank.

• 1. Policies Formulation - Assist in the formulation of policies, standards and process guidelines consistent with the Bank’s enterprise risk management framework, model risk management framework, and other risk policies to effectively manage model risk, given the Bank’s strategies, level of tolerance and risk appetite.
• 2. Risk Identification - Aims to identify possible sources of risks, inherent and/or emerging, which could possibly expose the Bank to unnecessary model risks and potential financial and/or non-financial losses.
  
  

3.3. Risk Meas urement - Perform independent model validation activities in accordance with established policies, standards and procedures, and work plans as approved by the CRO and the RMCom , taking into account the model owner and model user objectives for development and implementation, respectively; also taking into account the Bank’s business strategy, level of tolerance and risk appetite for model risk. Propose and implement updates and introduce refinements in risk models validation metrics and tools, including (but not limited to) model performance measures, back - testing approaches, data scoping and requirements.

• 4. Ri sk Reporting and Communication - Preparation of the independent validation reports in accordance with the model validation framework, for presentation to the model owner/s for alignment and communication of findings for remediation; and the preparation of the executive summary for the approval and notation of the Section Head, Department Head, Division Head, Chief Risk Officer and the RMCom Board.
• 5. Risk Monitor ing and Control - Perform continuous monitoring of validation findings and corresponding remediation activities to ensure timely closure. Propose and implement updates and introduce refinements to existing monitoring tools.
• 6. Internal Collaboration and Coordination - Work closely with internal counterparties to understand and assess impact on model risk of new regulatory requirements, product and/or business initiatives. Provide risk advisory to BPI Group’s different risk teams as the need arises, to support business growth and risk management.
• 7. Ethical Standards and Professionalism - Ensure that the assigned activities are compliant with Company rules and regulations, regulatory requirements, and professional ethical standards.
• 8. Strategic Support - As delegated, perform all functions of the RMV Head in his/her absence. Perform other tasks that may be assigned from time to time by the Division Head, CRO and the RMCom .
• Dimensions
  
  

4 . 1 Financial Responsibility

• Responsible in reporting any potential breaches in the levels of tolerance and risk appetite of the Bank as set by the Board are properly monitored , as a result of model validation findings.
  
  

4 .2 People Responsibility (N o. of D irect Re ports & I ndirect R eports)

Reporting Line

Definition

No. of Employees

Direct Reports

0

Indirect Reports

Interns

2

4 .3 Key R elationships and S cope

Job Title

Business Unit

Risk Officers

Other departments and divisions in the Risk Management Office

Business and Subsidiary Risk Officers

Other departments and divisions in the BPI Group

Risk Analytics teams

Other departments and divisions in the BPI Group

Compliance Officer

Compliance Group

Audit Associates, Audit Team Leader

Internal Audit

Decision Making - Not Applicable

Primary Responsibilities

• Policies Formulation - Assist in the formulation of policies, standards and process guidelines consistent with the Bank’s enterprise risk management framework, model risk management framework, and oth
• Risk Identification - Aims to identify possible sources of risks, inherent and/or emerging, which could possibly expose the Bank to unnecessary model risks and potential financial and/or non-financial
• Risk Measurement - Perform independent model validation activities in accordance with established policies, standards and procedures, and work plans as approved by the CRO and the RMCom, taking into a
• Risk Reporting and Communication - Preparation of the independent validation reports in accordance with the model validation framework, for presentation to the model owner/s for alignment and communic
• Risk Monitoring and Control - Perform continuous monitoring of validation findings and corresponding remediation activities to ensure timely closure. Propose and implement updates and introduce refine
• Internal Collaboration and Coordination - Work closely with internal counterparties to understand and assess impact on model risk of new regulatory requirements, product and/or business initiatives. P
• Ethical Standards and Professionalism - Ensure that the assigned activities are compliant with Company rules and regulations, regulatory requirements, and professional ethical standards.
• Strategic Support - As delegated, perform all functions of the RMV Head in his/her absence. Perform other tasks that may be assigned from time to time by the Division Head, CRO and the RMCom.
  
  

Additional Responsibilities

Reporting Team

• Reporting Designation:
• Reporting Department:
  
  

Educational Qualifications Preferred

• Category: Bachelor's Degree
• Field specialization: Economics, Information Technology, Mathematics & Statistics
• Degree:
• Academic score:
• Institution tier:
  
  

Required Certification/s

Required Training/s:

Required Work Experience

• Industry:
• Role: Prior school or research work and/or experience related to predictive behavioral modelling, programming and/or statistical studies, particularly on credit and market risk
• Years of experience: 1
  
  

Key Performance Indicators

Required Competencies:

Required Knowledge

Basic quantitative background, particularly on statistical concepts, econometrics and/or risk analytics

Programming and modelling skills in SAS or VBA is preferred

Required Skills

Strong quantitative and problem-solving skills, including the ability to organize and work with large databases and perform statistical analysis

Outstanding communication skills, proficiency in oral and written communication with the ability to clearly articulate complex ideas

Ability to work and organize in small teams which includes collaboration with internal counterparties

Required Abilities

Detail oriented, analytical with strong quantitative skills preferred

• Physical:
• Other:
  
  

ATTRIBUTES

Team-oriented nature with clear process ownership mentality

Capable to work under pressure under minimal supervision.

Work Environment Details

Specific requirements

• Travel:
• Vehicle:
• Work Permit:
  
  

Other Details

• Pay Rate:
• Contract Types:
• Time Constraints:
• Compliance Related:
• Union Affiliation: