Job Description

The Operational Risk Officer will support the Operations function by implementing, maintaining, and continuously enhancing the operational risk management framework within the business. The role will work closely with operational teams to embed effective risk management practices into day to day processes and activities.
As part of the Operations function, the Operational Risk Officer will support operational risk related activities, including process and control design and review, operational risk identification and assessment, incident management, and ongoing monitoring and reporting. The role will provide independent challenge and oversight to ensure operational risks are identified early, appropriately assessed, and managed through adequate and effective controls in line with MUFG’s risk appetite.
The role holder will support the business in analysing operational incidents and emerging risks, and will work with relevant stakeholders to identify root causes, recommend risk mitigation actions, and track remediation progress. This includes supporting the development and maintenance of operational procedures, control documentation, and risk registers.
The Operational Risk Officer will be required to proactively communicate and engage with stakeholders across Operations and other functions at all levels to assist with identifying, assessing, mitigating, managing, and monitoring operational risks that arise from business activities, systems, processes, and third party arrangements.
The role holder will be expected to collaborate closely with peers across Operations, Risk & Compliance to strengthen the operational risk management capability, promote a strong risk culture, and support the business in achieving its objectives while operating within MUFG’s operational risk management framework and risk appetite.

Key Accountabilities and main responsibilities
Strategic Focus

• Support the implementation and ongoing enhancement of the Operational Risk Management framework for Hong Kong, ensuring alignment with MUFG’s Global Risk framework, including risk assessment, internal control methodologies, and associated processes.
• Work collaboratively with Operations, Risk, and Compliance stakeholders to embed effective operational risk management practices into day to day activities and promote a strong and practical risk culture across the business.
• Support the business in achieving its strategic and operational objectives by ensuring operational risks are identified, assessed, and managed within MUFG’s risk appetite, while maintaining compliance with applicable legal and regulatory requirements.

Operational Management

• Work with Heads of Function and Risk Champions in the business to identify, analyse, mitigate, manage, and monitor risks.
• Support the identification, assessment, and review of new and emerging operational risks, including those arising from new products, product variations, process changes, and business changes.
• Provide guidance and advice on operational risk events, including incident identification, assessment, escalation, root cause analysis, documentation and communication, and tracking of remediation actions to closure, ensuring issues are appropriately recorded, monitored and reported.
• Support and deliver risk and controls related training to individuals and groups of staff as and when required, including providing relevant knowledge into the training materials.
• Support and oversee the management of Business Continuity Planning (BCP) within Operations, including assistance with BCP framework implementation, scenario reviews, annual testing, issue tracking, and continuous improvement to ensure operational resilience and readiness.
• Ensure that operational risk frameworks, policies, and controls are appropriately designed, implemented, and maintained in adherence to internal standards, regulatory requirements, and industry best practices.
• Undertake risk assurance reviews in line with the Business requirements.
• Support the first line operational risk management aspects of the business for MUFG Retirement Solutions HK.

People Leadership

• Build and maintain effective working relationships with key internal stakeholders to support day to day operational risk management, promote risk awareness, and enable timely issue identification and resolution, in line with MUFG’s core values.
• Take ownership of personal development by maintaining and executing a personal development plan in partnership with the line manager to continuously enhance operational risk and business knowledge.
• Maintain a positive and professional work environment.

Governance & Risk

• Support adherence to the MUFG operational risk framework, policies, and procedures, ensuring operational risks are identified, assessed, managed, and monitored in line with agreed standards and risk appetite.
• Support MUFG and business led assurance and control testing activities, including coordination with stakeholders, provision of evidence, and follow up of agreed remediation actions.
• Support MUFG assurance programs that deliver effective risk management and compliance practices.
• Compile, analyse, and support the reporting of operational risk management information (MI) to support management oversight and ensure risks remain within the agreed risk appetite.

The above list of key accountabilities is not an exhaustive list and may change from time-to-time based on business needs.

Experience & Personal Attributes

• Qualifications in Business, Commerce, Risk Management or a related field are desirable but not essential, combined with ongoing professional development, such as post-graduate or vocational study.
• Minimum 3 years’ relevant experience in Operational Risk, Internal or External Audit, Compliance or related control function, ideally within financial services.
• In depth knowledge and experience of best practice risk management methodologies and emerging practice in financial services, including in relation to operational resilience.
• An experienced and skilled communicator at all levels, who inspires confidence, influences and motivates others.
• A self-starter with sound judgment who is decisive and able to prioritise, with a track record of setting and achieving objectives.
• A progressive mind-set, with extensive knowledge of Pensions/ ORSO legislation and regulations which can support the development of the Risk function. Knowledge of Banking, Securities and Futures and Insurance regulations and key developments is an advantage.
• Numerate, with a sound understanding of business models and a strong commercial acumen.
• Resilience, adaptability, energy, authenticity, and openness.
• Personal commitment to risk policies and MUFG code of conduct, including a demonstrated pragmatic approach to risk management.
• High levels of problem-solving ability, with clear decision-making skills that can analyse complex information, in a way that drives resolution.
• Experience operating in a highly regulated and complex environment.
• In addition, as the role is part of a global team travel and flexibility to work outside standard hours may be required in this role.

MUFG Pension & Market Services is a global, digitally enabled business that empowers a brighter future by connecting millions of people with their assets – safely, securely and responsibly.

Through our two businesses MUFG Retirement Solutions and MUFG Corporate Markets, we partner with a diversified portfolio of global clients to provide robust, efficient and scalable services, purpose-built solutions and modern technology platforms that deliver world class outcomes and experiences.

A member of MUFG, a global financial group, we help manage regulatory complexity, improve data management and connect people with their assets, through exceptional user experience that leverages the expertise of our people combined with scalable technology, digital connectivity and data insights.