About the Role
Retail Division is seeking a visionary and experienced leader to join as the Head of Retail First Line Risk. Reporting to the Group General Manager Retail, this pivotal role ensures the integrity, sustainability, and regulatory compliance of our retail operations in PNG and across the Pacific. As the first line of defense, you will lead a high-performing team to proactively identify, assess, and mitigate operational, credit, and compliance risks—while driving excellence in AML and KYC programs.
The incumbent will lead a team of senior managers across operational risk, compliance, credit risk, quality assurance and complliance. Key internal stakeholders include Retail Division, branches, and other business units. External engagement includes customers and regulatory bodies such as the Bank of Papua New Guinea.
Key Deliverables
- Risk Management & Compliance Oversight:
- Safeguard the Retail Bank’s operations by leading robust risk identification, assessment, and mitigation strategies.
- AML & KYC Program Leadership:
- Design and enhance AML/KYC frameworks, ensuring full regulatory compliance and operational effectiveness.
- Stay updated on regulatory changes, design policies, and ensure adherence to AML and KYC standards in retail transactions and customer on-boarding.
- Operational Risk Management:
- Conduct risk assessments, implement controls, and respond swiftly to incidents to minimize disruption.
- Credit Risk Evaluation:
- Monitor credit exposure, set policy, and assess customer creditworthiness to maintain a sound portfolio.
- KYC Process Enhancement:
- Identify and rectify gaps in legacy KYC processes, aligning with current standards and best practices to enhance the effectiveness of KYC procedures.
- Regulatory Compliance:
- Manage operational and credit risks to safeguard the organization and its customers.
- Ensure adherence to BSP Group policies, BPNG prudential standards, and relevant laws.
Qualifications, Professional/Skills and Experience:
Essential:
- Bachelor’s degree in Accounting, Risk Management, Business, or related field.
- 10+ years’ experience in risk management, with 5+ years in senior leadership.
- Proven success in developing and executing risk strategies.
- Strong understanding of AML, KYC, and credit risk principles.
- Excellent leadership and communication skills.
Desirable:
- Master’s degree or professional certifications (CRM, FRM, ACAMS).
- Deep knowledge of financial regulations and retail banking risk.
- Multi-skilled and systematic approach under pressure.
Competencies:
Essential:
- Strategic thinking and risk planning
- Relationship building and customer-centricity
- Strong written and verbal communcation
- Quality service orientation
Desirable:
- Commercial awareness and decision-making
- Team leadership and collaboration
- Sales focus and business acumen
