Senior Analyst, Operational Risk

Job Description

Title: Senior Analyst, Operational Risk

Company Name: Cuscal

Vacancy: 1

Job Location: Australia, New South Wales, Sydney, CBD, Inner West & Eastern Suburbs, sydney

Employment Status: Full Time

Purpose of the role

The primary responsibility of the Analyst, Risk Frameworks is to develop and support Cuscal’s operational, compliance and market risk reporting frameworks.


This will include updating Cuscal’s operational risk and compliance system (iRisk) and ensuring Cuscal’s treasury exposures are represented, valued and managed in line with Cuscal policy and market practice as well as using the data to identify emerging risks and trends.


Key Accountabilities 

Cuscal’s risk and compliance system (iRisk) is used to record and report on risk-related matters as well as compliance obligations across Cuscal and is a key tool to help to ensure adherence with Cuscal’s Operational Risk, Compliance Policies and regulatory obligations. Cuscal maintains its treasury positions in the MyTreasur-e system.

  • This role is responsible for engaging with various stakeholders and to ensure the data in our iRisk and MyTreasur-e is accurate and complete. It is also responsible for analysing the data to perform provide insightful reporting to management, the Board and other relevant stakeholders.
  • As part of this analysis, the role will evaluate Cuscal’s performance against set limits, assess risks and formulate risk mitigation strategies relating to operational risk, compliance and market-related risks.
  • The role will also keep track of changes to and ensure compliance with the relevant APRA prudential standards to ensure our operational risk, compliance and market risk frameworks remain fit for purpose.
  • This role is also expected to contribute to the development and implementation of Operational and Market Risk strategies, programs, projects and policies to support Cuscal business units in their development and implementation of strategy in line with Cuscal’s Risk Appetite. This includes engagement with projects team to ensure delivered risk and risk acceptances is appropriately tracked.
  • This role must oversee Cuscal’s control assurance activities, reflect the control improvements, including audit items in the iRisk system and independently assess the responses to six monthly (bi-annual) self-assessments. A key part of the role is to analyse the data and provide insights to management and the Board. This will the role to assist with month-end and quarterly reporting using data from iRisk and MyTreasur-e systems including updates to the monthly risk dashboard, enterprise risk profile, emerging risks, key incidents, and breaches etc.
  • Responsible for providing education and training to support business units and key stakeholders with their understanding of iRisk and My Treasury systems including recording and management of operational risk, compliance and market risk related matters adequately and on a timely basis. 
Essential:
  • Well-developed analytical and reporting skills
  • Proven experience of Operational Risk and compliance frameworks in previous financial services organisations;
  • Solid understanding of Operational Risk/Compliance Knowledge within the Finance and Banking Industry including Prudential standards 220, 231, 232 and ISO 31000 and 19600;
  • Understanding of Market and Liquidity risk and Prudential Standards 111, 112, 116, 117 and 210
Technical Competencies:
  • Self-managed ability to achieve personal work goals & objectives
  • Consistent delivery of high-quality outcomes
  • Proven ability to influence stakeholders;
  • Proven ability to embed risk frameworks.
About Cuscal  
Cuscal Limited is an unlisted public company and one of five licensed banks in Australia with full direct connectivity and production capability across all domestic payment systems. Whilst the four major banks exploit this capability for their consumer and business clients, Cuscal’s B2B model focuses on enabling other banks, fintech’s and corporates to deliver innovative and competitive payment and digital solutions to their clients.

Given the number of organisations Cuscal enables within the Australian banking and payment systems, it has been designated as systemically important by the Australian Prudential Regulation Authority, the Reserve Bank of Australia and Standard and Poor’s. This unique market position combined with a conservative balance sheet has contributed to Cuscal’s A+ credit rating.  

Cuscal’s relevance and industry influence is greatest in recent innovations such as real time account to account payments and digital wallets (the Pays). These initiatives are great examples of Cuscal’s ability to anticipate and competitively respond to innovation and market developments. As a result, Cuscal processes around 20% of all real-time transactions and enables around 80% of all organisations that use Apple Pay, Samsung Pay and Google Pay. Cuscal is also the market leader in providing other digital wallet options such as Fitbit Pay, Garmin Pay and virtual cards generally.

The majority of Cuscal’s revenue is derived from enabling other banks. Cuscal support’s a large proportion of the mutual banking sector and well-known brands such as ING, Bendigo and Adelaide Bank, AMP Bank, ME Bank and Bank of Queensland. However, Cuscal is securing growth in the fintech and corporate sector by supporting organisations such as Square, Global Payments and Azupay.   

Cuscal recognises the correlation between payments, data, and digital banking experiences. To ensure future relevance and market share, Cuscal is investing in adjacencies or related services such as Fraud Services, Open Banking and Consent Management services.

Next Step:  
To apply for this role please email your CV to Meenal Sharma  at [email protected] with the role you are applying for as the subject line. Due to the high volume of applications that we receive, we will only reach out to shortlisted candidates. We look forward to receiving your application.

Agencies: we will be in touch with our preferred panel if we require assistance in recruitment. We ask that you do not send unsolicited CVs or contact hiring managers directly.

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