Senior Manager - Operational Risk Management

The eMPF Platform Company Limited is a wholly owned subsidiary of the Mandatory Provident Schemes Authority (MPFA) responsible for overseeing the design, development and operation of the eMPF Platform. The eMPF Platform is a major public utility which aims to standardize, streamline and automate the existing MPF scheme administration processes. It is the most significant reform of the MPF System since its introduction in December 2000.

For background and details of the eMPF Platform, please go to our website .

We are looking for high calibre and passionate individuals to join us to undertake this transformation initiative that is leading the MPF ecosystem to a new era and is creating a positive impact on the working population of Hong Kong.

Key Accountabilities

Assist the Team Lead in the following duties:

For both the Company and the Platform:

• Developing and formulating implementation of the enterprise risk management (ERM) framework and relevant mechanisms for the eMPF Platform Company (the Company), and the other being development, formulation and monitoring of the operational risk management framework for managing the eMPF platform (the Platform) which is being developed, implemented, administered and operated by a third party delivery partner (the “Delivery Partner”);
• Formulating and driving the operational risk management and governance framework to ensure full compliance with relevant regulatory requirements and best practices for benchmarking the deliverables by the Company and the Delivery Partner for the Platform;
• Ensuring relevant governance goals are being translated into policies and procedures which can be implemented, enforced and monitored in actual practice;
• Collaborating with various operations and processing teams, i.e. all Divisions / Departments of the Company and the relevant Teams of the Delivery Partner (collectively namely the “first line of defence users/teams”), to design effective and implementable controls in compliance with relevant rules and regulatory requirements, managing operational and processing risk by continuous improvements in control procedures to ensure effective and efficient use of resources, tracking of audit points closure by designing appropriate enhanced controls until implementation and closure of actions, promote operational risk awareness across the Company as well as personnel supporting the Platform via the Delivery Partner, etc., and all other aspects relevant to operational risk management;
• Establishing and implementing oversight and monitoring mechanism together with the first line of defence users/teams on operational risk related work, including but not limited to risk monitoring metric (such as key risk indicators, KRI), risk and incident register for recording and monitoring all potential risks being identified to ensure proper follow up until the implementation of rectification, risk and control assessment to monitor and assess the proper functioning and adequacy of existing controls;
• Keeping abreast of the development in the market by conducting ongoing research and developing core knowledge of industry best practices for operational risk management and assurance;
• Ensuring the implementation of initiatives adheres to strategic architecture and governance model, and up to market standards;
• Working closely with Legal and Compliance Team to keep abreast of any changes in relevant rules and regulations; developing relevant risk policies and procedures and communicate to relevant stakeholders and first line of defence users/teams to uphold the requirements of the rules and regulations; and performing compliance assessment on operational risk as appropriate;
• Reviewing operational risk incidents / complaints, monitoring action plans and work with responsible stakeholders on operations enhancement and/or risk mitigation;
• Developing systemic risk management reporting and escalation procedures to assist management to identify and manage potential operational risks of the Company and the Platform; and
• Providing regular and ad hoc reporting to management on work progress and potential issues. For issues handling, collaborating with the first line of defence users/teams from the Company and the Delivery Partner, Risk Team and Data Assurance Team, as appropriate, on root cause analysis as well as review and monitoring of remediation plans and implementation.

For the Company:

• Formulating the ERM strategy and framework for the Company, and leading the implementation of ERM of the Company;
• Working with the and MPFA on risk reporting and assessment initiatives; and
• Supporting the risk assessment and control designs on new projects, engaging in process-risk-control studies, reviewing internal control activities and making recommendations on improvements.

For the Platform:

• Working closely with the Delivery Partner to review and approve deliverables, including but not limited to the completeness and reasonableness of the detailed work submitted by the Delivery Partner comparing with market practice, e.g. development and maintenance of a fit and proper operational risk management and assurance framework, up-to-date control measures in accordance with new / revised regulatory requirements, tools for reporting and monitoring issues, incidents and audit points; recommendation from various review exercises, etc., and all other aspects relevant to operational risk management and assurance applicable to the Platform; and
• Overseeing the Delivery Partner’s operations and management of operational risk management and assurance related initiatives.

Skills and Qualification

• Degree holder in Business related disciplines;
• Minimum 10 years of relevant experience of operational risk management, internal audit or process control transformation preferably gained from financial institutions;
• Sound knowledge with extensive experience in operational risk management and internal controls covering various kinds of operations and transaction processing;
• Proactive, responsible, good problem solving, multi-tasking, communication and interpersonal skills, independent and yet a good team player with strong control and market sense;
• Attention to detail with good analytical skills and willing to work hands-on with first line of defence users/teams directly;
• Qualified accountant with experience gained from the Big Four accounting firms focusing in financial industry or internal audit in financial institutions is preferred;
• Good command of both spoken and written Chinese and English with the ability to effectively articulate complex issues in an organized manner; and
• Keen and willing to work in a start-up style environment with all the flexibility that requires and level of change involved.

Remuneration Package

Rank and salary will be commensurate with qualification and experience. The initial appointment will be made on a fixed-term contract. A competitive remuneration and benefits package including discretionary performance-linked variable pay, annual leave, medical, dental and life insurance coverage, and MPF will be offered. 

To Apply

Interested candidates are invited to apply by clicking the “Apply Now” button. The closing date for application is 12 April 2024 . Applicants not contacted for follow-up within 3 months after the closing date for application may assume that their applications are not successful. Applications not selected for further processing may be considered for other relevant openings in the future but their applications will not be retained for more than a period of two years after the closing date.

The information provided will be kept confidential and only be used for those purposes relating to your application. Please visit our website for the details of the MPFA’s Personal Information Collection Statement at  The MPFA and its subsidiary are equal opportunities employers and welcome applications from all qualified candidates.