Assistant Vice President, Compliance

2 days left

Mizuho Bank
Singapore, Singapore
05 Mar 2023
04 Apr 2023
Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Overview of Division/Department

[HR to input]

Company Profile
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Job Responsibilities
(Internal Corporate Title: Assistant Manager)

The Risk & Governance Section ( RGS) is principally responsible for enterprise risk management. Key responsibilities include:
  • Ensuring that risk management policies and practices instituted in Mizuho SG are consistent with industry best practices, and in compliance with applicable regulatory requirements and strategic imperatives of Mizuho.
  • Providing support to senior management on matters pertaining to general governance, conduct and culture.

Towards meeting these objectives, the overall function of the Section can largely be categorised as follows:
  • Planning - responsible for overall planning, risk methodologies, management of emerging risks (e.g. ESG) and projects.
  • Risk Monitoring & Reporting - responsible for reporting risks directly managed by RSG; and reviewing risk reports from other departments/ sections in the Bank.

One of the key projects that the Section is currently overseeing as Project Management Office (PMO) concerns the discontinuation of LIBOR.

The Role
  • The role will primarily focus on the LIBOR project for a start as part of the PMO team. Following the cessation of LIBOR, the role will then move into other focus/ priority areas of RGS taking into account the incumbent's capabilities, experience and personal preference.
  • Key responsibilities as PMO include supporting and assisting in the following on the LIBOR project:
    • Set standards and tailor policies to align with the expectations/ requirements of MAS and Head Office, as well as any industry guidance/ best practice (including those as may be published by ABS and/or the Steering Committee for SOR & SIBOR Transition to SORA (SC-STS)). This will entail keeping abreast of publications/ circulars/ notifications by any of the aforementioned, and disseminating and advising stakeholders on the same.
    • Monitor and reporting the progress of LIBOR transition - in particular, the remediation of contracts referencing USD LIBOR/ SGD SOR/ SGD SIBOR. This will involve close interaction and coordination with Head Office, Front Office as well as other key stakeholders such as Data Management and Credit Administration.
    • Coordinate actions of all the LIBOR functional Project Teams in Mizuho SG office to achieve more holistic outcomes and optimize resources.
    • Organise and participate in LIBOR Executive Management Committee meetings or any other working groups or dialogue sessions as may be necessary or appropriate.
    • Coordinate and work with relevant stakeholders for the introduction of new alternative rate bank products, including organising/ participating in New Product Committee meetings.
    • Work in partnership with the other offices in the AO region to share best practice and provide support where necessary.
    • Engagement with MAS and any industry association as may be required.
  • Subject to workload when the LIBOR project is still running, and following the cessation of LIBOR (taking into account the incumbent's capabilities, experience and personal preference) - Key responsibilities in other focus/ priority areas of RGS include:
    • Implement enterprise risk management frameworks/ policies/ strategies in Mizuho SG office - which entails the running of projects, taskforces, working groups, and the likes, where applicable
    • Monitor the key risk management activities of Mizuho SG office and report key risks to senior management - including the development of dashboards as needed.
    • Coordinate all risk management functions in Mizuho SG office to achieve more holistic outcomes and optimize resources. This includes the running of the Risk Management Committee/ Roundtable.
    • Liaise with Head Office, MAS and any other relevant authorities on risks managed by the Section as may be necessary or appropriate.
    • Work in partnership with the other offices in the AO region to share best practice and provide support in respect of enterprise risk management where necessary.

    Key requirements and qualities
    • Good working knowledge about the discontinuation of LIBOR, including publications by industry groups such as SC-STS, ARCC and ISDA. Additionally, familiarity with banking products and loan documentation will be advantageous.
    • Comfortable dealing with large amount of data, with an eye for details. Proficiency in Excel will be advantageous. Working knowledge of Python is preferred.
    • Planning and organisational skills. Prior project management experience will be advantageous.
    • Strong communication skills and ability to engage at multiple levels.
    • Team player while also able to work independently.

    Job Requirements
    What you should have:

    Join Mizuho Bank, Ltd., in Singapore, and be part of our expanding team, passionate to build the future together. One MIZUHO: Building the future with you.