Manager Risk Governance

Sydney CBD Area
Competitive salary
10 Oct 2019
15 Oct 2019
Approved employers
Approved employer
Contract type
Full time
Experience level

Do work that matters

NewCo is a division of Wealth Management (WM) which consists of the self employed Licensees (FWL and CFP-Pathways) and Aussie Home loans. NewCo provides strategic and operational support for all distribution of investment and insurance products.

NewCo Advice services the self employed Licensees for the CBA. It offers high quality financial advice to customers through approximately 500 Advisers across Australia. In NewCo, Quality Advice is delivered by professional advisers that is tailored to meet the needs and goals of our customers and help them plan for the best.

The Risk Management & Compliance team provide a comprehensive compliance, regulatory and risk services, including risk management advice, co-ordination and completion of supervision activities that enables NewCo Advice to manage its risk and enables the business to provide more advice to more Australians.

See yourself in our team

You will be part of the risk management team within the Risk Management & Compliance team that has the responsibility to appropriately and proactively manage risk in line with the Operational Risk Management Framework (ORMF) in a manner consistent with the CBA Values & People capabilities for the Self-employed Licensees. Working with key stakeholders across the Advice business you will drive substantial improvements in advice quality and compliant practices & activities that aim to reduce the overall risk profile of Financial Wisdom and Pathways.

The role will require a focus on practical development and implementation policies and procedures that assist planners deliver quality advice efficiently and within the risk appetite of the business.

The role will also require you to identify/address any key risk and controls including those associated to new/changed processes or business model, particularly the identification of any gaps or breakdowns in the control environment.

Key responsibilities will include:

  • To engage positively with relevant stakeholders in order to effectively communicate expectations, identify and track potential risk instances, issues, incidents and breeches; and support the business in managing risks.
  • Responsible for helping to run the Risk and Controls Self Assessment (RCSA) process for NewCo Advice and the related shared services.
  • Manage and report from RiskInSite governance and assurance activities
  • Issue and Incident Management and reporting
  • Create and implement controls and complete design effectiveness testing, operating effectiveness testing and CAP testing, as well as generate reporting from RiskInSite in this regard.
  • Create awareness of emerging risk instances, issues, incidents and breaches at a broader level in order to identify consistencies and thereby drive efficiencies in managing risk.
  • To demonstrate leadership within the business by championing risk, providing expertise in managing risk, and effectively setting boundaries of expectations while supporting senior management to role model the required values and culture, and positively represent the risk function.
  • To prepare and present risk reports and occasionally to the Licensee Risk Committee, Non-Financial Risk Committee, General Managers of Licensees, and Wealth Risk Management to build awareness and understanding of risks, and ways to manage risks at the required level within the function as well as within the wider business. This includes Risk Appetite Statement metrics and Key Risk Indicator Metrics.
  • To contribute to the update and review of the Operational Risk Management Framework, including Risk Appetite Statement (RAS) metrics and Key Risk Indicators (KRIs), to ensure the governance of relevant risk documents.

We’re interested in hearing from people who have:

  • Experience in Wealth Management, Wealth Advice or Risk / Compliance management within Financial Services
  • Extensive experience in Financial Planning, understanding of the planning and process and understanding of the regulatory documentation requirements relating to financial planning.
  • Understanding of current Advice policies, operating procedures and processes and the associated risks of the advice business is highly desirable.
  • An industry recognised qualification in finance and/or financial planning. RG146 qualification highly desirable.
  • Ability to deal with very complex issues, and resolve issues quickly and decisively.
  • Able to use critical thinking when presented with a new idea or issue. Resourceful in development of potential solutions /recommendations with an ability to “think outside of the box”.
  • Strong stakeholder relationships & engagement skills at all levels.

Please note this is a FTC until 30 June 2020.

At CommBank, we're committed to building a diverse and inclusive workforce reflecting the customers, businesses and communities we serve. As a value's driven organisation, we nurture and support our people; through focussing on skill and talent development, collaboration, flexibility and internal promotion. With service in mind at every touch point, we take accountability for the role we play in securing and enhancing the financial wellbeing of people, businesses and communities. At CommBank you can be you.

Applications close: 14 Oct 2019 AUS Eastern Daylight Time

For further information, and to apply, please visit our website via the “Apply” button below.

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