Senior Operational Risk and Control Manager
About Standard Chartered
We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.
To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and never settle - as well as our brand promise, Here for good.
We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.
Role forms part of the 1 st line of defence operational risk function, focussed on driving risk assurance and governance across the Financial Market Operations functional streams.
Standard Chartered Bank (SCB) has a dedicated Financial Market Operations which supports market clients and products within Corporate & Institutional Banking (C&IB). FM Operations (FMO) has responsibility for the execution, control and continuous improvement of processes to support our Products & Clients. The Role Responsibilities
Risk Identification and Assessment
- Support the implementation of Operational Risk Type Framework (ORTF) and relevant OR initiatives initiated by the second line
- Ensure compliance with Group Operational Risk policy, procedures and framework. Work closely with second line partners to ensure collaboration, compliance and implementation of the ORTF.
- Ensure, jointly with the Business / Function, that the business heads and relevant staff understand and accept their risk management responsibilities in relation to operational risk.
- Provide necessary risk and control input into the various risk governance committees. Ensure the quality and accuracy of Operational risk metrics and initiatives.
- Assist the business / function head with design and implementation of control measures / monitoring plans for compliance and operational risk management.
- Support the initiatives and risk reviews driven across the Group, hubs and countries
- Responsible for driving appropriate culture, values, tone and expectations for the team, working in collaboration with risk and control partners across all functions/Group/country to effectively embed a strong culture of risk awareness and good conduct.
- Engage closely with Peer Groups within Group, hubs and countries to share the lessons learnt, process gaps and adhere to effective control measures.
- Validate and challenge risk identification and assessment of gross and residual risks arising from executed processes and identify any gaps.
- Assess the control environment including, but not limited to, control design, control execution, control testing and control history.
- Review and challenge the existing process to identify the gaps on Systems Design, Systems Control, Process Design and Process Control
- Recommend changes to the control environment or to operational processes/practices to reduce the level of operational risk exposures.
- Propose effective process controls where there are material risks of process control failure.
- Provide balanced and informed assessment of operational risks arising from acquisitions and major change initiatives or Group, hubs and country projects, where applicable.
- Continuously evaluate and identify operational risk implications of Operations strategies/programmes, and provide guidance on any operational risk remediation.
- Challenge and recommend on relevant business activities where risks are not aligned with control requirements or risk appetite.
- Ensure effectiveness of controls for operational risk management. Recommend implementation of enhanced or new controls / monitoring to address residual risk or control gaps.
- Challenge the completeness of risk identification, monitoring and control activities and identify/address any significant gaps that may exist between them.
- Assess periodically FMO's operational risk profile and maintain alignment with risk appetite by rebalancing of risks or controls that may be required in response to internal and external factors.
- Ascertain and confirm that KRIs, KCIs and Key Control Self-Assessment (KCSA) or Control Sample Testing (CST) as approved, are effectively implemented and completed.
- Periodically review operational risk assessments to ensure these appropriately reflect changes in environment, mitigating controls and the progress of treatment plans.
- Systematically monitor process control effectiveness where there are material risks of process control failure.
- Review and provide input for risk treatment plans.
- Monitor treatment plans to ensure they are implemented accordingly by the business - i.e. stemming from Risk Acceptances (RAs), Root Cause Reviews (RCRs) or other operational risk events / issues
- Lead and support implementation of OR initiatives for the Business unit in collaboration with Group Process Owners
- Proactively communicate and collaborate on remediation for risk or issues that arise with the Group Process Owner, Product / Oversight Head, Delivery Managers and Country Heads
- Oversee and provide thematic analysis on operational risk and loss reporting in FMO for the reporting within relevant Group risk forums or FMO risk forums
Our Ideal Candidate
- Ensure operational risk events are accurately classified, recorded and reported with appropriate risk treatment plans in line with Operational Risk policy. Ensure appropriate escalation to internal stakeholders and risk committees.
- Validate the classification and accurate reporting of operational risk losses.
- Ensure the reporting and escalation of all operational risk events (includes SORE to 2nd line OR).
- Facilitate units in conducting Root Cause Analysis (RCA) for relevant events.
- Provide risk information/updates to functions/domains/country/group forums as appropriate.
- Ensure new risks or elevated residual risk within processes are escalated by the business as per the Operational Risk Policy, i.e. via a Residual Risk Acceptance if required
- Actively participate and contribute to the monthly FMO Risk and Control Forum
Ability to work individually and independently to complete set tasks within agreed timeframes. Trustworthy individual capable of high quality deliveries within a large portfolio of activities. Change management:
Detailed and analytical with a mindset to challenge status quo. Risk Management and Control:
The ability to identify, assess, monitor, control and coordinate mitigation of risks within the Operations function. Awareness of the wider Risk and Control environment and the challenges facing product, process and function heads. Familiarity with operational risk framework control and risk metrics. Product Knowledge:
Strong understanding of the various functions within operations. Key familiarity with FX / MM / Derivatives and Commodities products and lifecycles (the product list is non-exhaustive). Operations Risk Management:
Strong understanding of risks associated with operational processing and common controls used within Operations to mitigate risks. Stakeholder Management:
Capable individual with good interpersonal & networking skills. Good judgement on what to escalate and to whom. Communication:
Clear and concise communicator capable of discussing risk and control issues with senior operations stakeholders. Ability to present metric information to highlight key messages to senior operations stakeholders.
Apply now to join the Bank for those with big career ambitions.