Standard Chartered is a leading international bank operating in some of the most dynamic markets in the world, in Asia, Africa and the Middle East. Our successful and sustainable business is built on doing tangible, long term good for our people, our customers and the communities we serve.
Associate Director, Business Operational Risk, Commercial Banking
jobsDB Ref. JHK100003004832670
Employer Ref. 531442-27
The Business Operational Risk Manager represents the Commercial Banking (CB) business as a first line of defence, implements the Standard Chartered Operational Risk Framework (ORF), and supports the Group's Operational Risk policy and associated operational risk procedures to ensure that operational risk is effectively managed at the business unit level.
The Business Operational Risk Manager must focus on CB controls, governance and supervision at all times, and:
* Ensure that material operational risks are identified, assessed, mitigated, monitored and reported to relevant governance forums.
* Assist in Managing the Business Operational Risk Forum (BORF) in the country. Ensure absolute adherence to country BAU OR deadlines and effective business escalation from BORF to the Country Operational Risk Committee (CORC), Process Governance Committee, and Group Business Risk Committee (GBRC)
* Manage peer reviews in the CB business including the front office; this may involve travel to other markets to conduct such reviews and share best practice.
* Develop control enhancements to ensure that any known risks are controlled within acceptable boundaries and consistent standards.
* Align business strategy with operational risk appetite and seek to optimise the business' risk-return profile.
* Mentor CB staff across all subsegments on business controls, governance and supervision.
* Be the go-to person for the business, for all operation risk related incidents/queries/events that arise, and become a business "Front to Back" subject matter expert in all products offered in the market.
* Coordinate with stakeholders in the country and with other CB Operational Risk Managers to increase transparency and share key learning and best practice.
* Ensure compliance with policies applicable to CB which impact operational risk. Challenge processes, procedures and policy if there is a better way to do things.
* Escalate issues, blockages, challenges and trends to the COO and CB Head when required.
* Speak Out about emerging risks or Unknown-Unknowns and try and change the way things are done - making Business (BAU) easier.
* Focus on Regulations, regulatory compliance and associated operational risks.
* Network extensively, and drive change/improvements.
Key Roles and Responsibilities
Risk Identification and Control Effectiveness
* Responsible for the timely identification, assessment, mitigation, reporting and escalation of all identified Operational Risk exposures. Assist in identification of operational risk for new products and new business, regulatory and thematic risks and implementation of appropriate controls to mitigate those risks.
* Liaise with CB staff as required to ensure that Risk Acceptance Templates (RATs) are completed for material risks or control failures identified and passed to Senior Operational Risk Officer (SORO) for approval before submission to BORF, for subsequent support and acceptance in the CORC.
* Be an informer: identify new business and regulatory risks, perform risk assessment and measurement, facilitate the implementation of appropriate controls to accept risks, and perform risk monitoring.
* Assist relevant stakeholders within the business and across functions in the management and implementation of the ORF and other relevant OR-related initiatives, including ensuring proper functioning of embedded and periodic controls.
* Be Responsible for the implementation and execution of the Control Sample Testing (CST) process, sampling and testing the population of controls to ensure compliance with agreed controls standards and facilitating the monitoring/collection of any Key Risk Indicators (KRIs). With the process owner ensure sign off on all new and amendments to existing CSTs and that same are tabled at BORF and other governance forums.
* Responsible for recording and maintaining risks in the risk tracking system (Phoenix). Responsible for ensuring the quality of information being recorded as well as ensuring data accuracy, completeness and timely resolution.
* Drive improvement in OR processes (through process improvement initiatives).
Loss Reporting & Investigation
* Support the business in minimizing operational risks and losses, and ensure material operational losses are investigated to prevent recurrence per group policy.
* Responsible for recording operational errors that occur within business that result in financial losses, gains, near misses, reputational damage to people or our reputation. Ensure that significant operational losses are escalated with appropriate root cause analysis completed.
* Perform reconciliation on a monthly basis on all Phoenix operational losses versus GL entries to ensure that all losses/recoveries are correct and/or accounted for on both sources and the Bank's books and records.
* To be the source of reference within the business in facilitation/promoting the understanding of Operational Risk and compliance/regulatory requirements.
* Identify knowledge gaps, facilitate development of training material, and arrange relevant business training on Operational Risk.
* Coordinate and lead the identification, presentation and resolution of CB risk issues through local business risk forums (BORF/CORC) to ensure there is adequate governance and oversight of CB risk.
Audits and Reviews
* With the Senior Operational Risk Officer, ensure a RCA (Root Cause Analysis) is completed for any audit fail and identified weaknesses in critical processes/significant losses/near misses.
* Contribute towards achieving no fail results on all audits and reviews undertaken by Group Internal Audit, Country Audit, regulators and external auditors.
* Review findings/key themes; assist business to achieve resolution in line with business risk appetite.
* Conduct periodic reviews on Operational Risk controls; submit review reports and follow-up with the business for timely closure of any identified risks/issues.
* Act as coordinator for various internal/external audits/reviews and liaise with various stakeholders to ensure timely and accurate information is provided.
* Conduct periodic peer reviews subject to business need to ensure consistency of risk management approach and support the business by embedding best practice.
* Responsible for tracking actions against audits and internal reviews and reporting the status of these actions periodically to the appropriate governance forums.
* Responsible for managing the issues raised from business-specific reviews and follow-through to resolution.
* Ensure timely communication of new/revised external regulations and internal policies.
* In collaboration with the SORO and Country Compliance, review new/revised regulations and implement new control measures and/or develop relevant and risk-based self-assessment checks for implementation in the business.
* Coordinate business continuity plans and ensure timely update and team awareness.
Qualifications and Skills
* Knowledge of CB products
* Relevant business/function experience in operations, business analysis or project management.
* Clear understanding of the Bank's Operational Risk Framework or equivalent experience gained in other organisations.
* Sound judgement with critical thinking skills and courage necessary to perform a control role and maintain effective working relationships.
* Strong analytical skills, detail-focused with the ability to interpret large amounts of information.
* Problem solving skills with ability to influence at all levels of the business.
* Ability to work independently with minimum supervision.
How To Apply
You can search and view current opportunities across our organisation and apply immediately by visiting www.standardchartered.com and selecting Careers. To help speed up your application, please note the following:
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Third Party Applications
Please note: Applications from third parties are not accepted unless by invitation.
Diversity and Inclusion
Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.
Equal Opportunity Employer
Standard Chartered is an equal opportunity employer. We have a meritocratic culture where each individual employee is valued and respected for who they are as a person and for what they bring to the organisation.