Chief Risk Officer, Singapore Singapore (SG)

LGT is the largest Private Banking and Asset Management group in the world to be owned by an entrepreneurial family. As the family office of the Princely House of Liechtenstein, we have years of experience in the management of sizeable sums of assets.

Key Responsibilities

1. Risk Governance and Policy Development

• Develop and maintain the Bank's risk management framework, policies, and procedures.

• Establish and communicate the Bank's risk appetite and ensure alignment with the overall business strategy.

• Ensure risk management policies are compliant with regulatory requirements and industry best practices.

• Responsible for supporting the achievement of the Bank’s objectives by addressing the full spectrum of its risks and managing the combined impact of those risks as an interrelated risk portfolio.
   

2. Risk Identification and Assessment

• Identify, assess, and prioritize all types of risks.

• Utilize tools and methodologies such as stress testing, scenario analysis, and risk modelling to evaluate potential risks.
   

3. Risk Monitoring and Reporting

• Implement systems and processes for ongoing monitoring of risk exposures.

• Regularly report risk positions to the board of directors, senior management, and relevant stakeholders.

• Provide insights into emerging risk trends and ensure transparency and accuracy in risk reporting.
   

4. Risk Mitigation and Control

• Develop and oversee the implementation of risk mitigation strategies and controls.

• Conduct regular reviews and updates of risk mitigation strategies in response to changing circumstances.

• Ensure the effectiveness of risk controls and adjust them as necessary.

5. Culture and Conduct Risk

• Develop and implement a comprehensive framework to assess, monitor, and manage Culture and Conduct risk across the organization.

• Promote a strong risk-aware culture that aligns with the Bank’s values and ethical standards.

• Collaborate with senior management to ensure that conduct risk considerations are integrated into business strategies, processes, and decision-making.

• Lead initiatives to identify, assess, and mitigate potential conduct risks, including those related to employee behavior, customer interactions, and regulatory compliance.

• Oversee communication programs designed to reinforce desired conduct and ethical behavior throughout the organization.

• Regularly report to the Board of Directors and executive management on the status of Culture and Conduct risk management efforts.

6. Testing:

• Design and oversee a robust testing and validation system to ensure the effectiveness of risk management controls and processes.

• Develop and implement testing methodologies and protocols to evaluate the adequacy of risk mitigation strategies.

• Analyze testing results to identify trends, weaknesses, and areas for improvement, and recommend corrective actions.

• Ensure that testing activities are documented, tracked, and reported in a transparent and timely manner.

• Stay abreast of industry best practices and regulatory requirements related to risk testing and validation, and adapt the Bank’s practices accordingly.

This role may involve chairing the Risk Management Committee (RMC) and being nominated as a member to the various governance forums in LGT Singapore.

Direct Accountability

1. Fraud and Data Risk Assessment and Prevention

• Conduct thorough risk assessments to identify potential vulnerabilities or threats within the Bank.

• Evaluate the effectiveness of existing fraud prevention, data protection and detection controls.

• Develop and implement policies, procedures, and controls to prevent fraud and/or data loss.

• Stay updated on emerging market trends and techniques to proactively address potential threats.

2. Operational Risk Management

• Identify and manage risks related to internal processes, systems, people, and external events.

• Implement robust internal controls to prevent fraud, errors, and system failures.

• Oversee business continuity planning and disaster recovery efforts

Supervision ("Coordination" & "Testing")

1. Credit Risk Management

• Oversee the credit risk assessment process, including the evaluation of borrower creditworthiness and loan portfolio quality.

• Monitor credit risk exposures and manage concentrations of credit risk.

• Test credit exposure methodologies in conjunction with risk analytic systems.

2. Market and Liquidity Risk Management

• Supervise the management of market risk exposures arising from interest rate changes, foreign exchange fluctuations, and other market movements.

• Oversee liquidity risk management to ensure the Bank can meet its financial obligations.

• Reviewing the strategies to manage interest rate risk and liquidity gaps.

3. Cybersecurity and Information Security

• Oversee the Bank’s cybersecurity strategy and ensure robust protection against cyber threats.

• Validating policies and procedures to safeguard sensitive information and data.

• Review regular cybersecurity risk assessments and audits.

• At least 10-15 years of experience in risk management, finance, or a related field.

• Proven track record in a senior management role, ideally with experience in leading risk management teams, within private banking space

• In-depth knowledge of relevant laws, regulations, and standards that affect the industry and risk management practices.

• Deep understanding of risk assessment methodologies, risk management frameworks, and best practices.

• Ability to align risk management strategies with the organization’s overall business objectives.

• High level of integrity and ethical judgment in handling sensitive information and making risk-related decisions.

• Flexibility to adapt to changing risk landscapes and regulatory environments.

• Ability to work collaboratively with other departments and stakeholders to manage risks effectively.