• Competitive
  • Singapore
  • Permanent, Full time
  • Standard Chartered Bank
  • 2019-06-17

Chief Risk Officer, SC Ventures

  • Location: Singapore
  • Salary: Competitive
  • Job Type: Full time

Chief Risk Officer, SC Ventures

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.

SC Ventures (SC) will spearhead the bank's digital innovation across the Group. Included in SCV's mandate will be to invest in Fintechs and other start-up companies, and promote rapid testing and implementation of new business models.

1. eXellerator: Internal consultants will help the rest of the Group in problem-solving and spreading innovation best practices and client-centric design. The eXellerator innovation lab will be part of this group.

2. Investments: A professional investment unit to manage the Group's minority investments in Fintech companies and to seek further investments in promising technologies.

3. Ventures: The Venture unit will sponsor and oversee new disruptive ventures that are wholly or partially owned by Standard Chartered. It will seek projects that amplify the bank's core strengths or where the bank can support a venture in a strategic way.

The Role Responsibilities

The CRO SC Ventures will report to the Global Head of Enterprise Risk Management and play a key business partnership role with the Head of SC Ventures. You will also partner with the Board and other members of the SC Ventures, Group Risk stakeholders and Partners of SC Ventures. Your role is to lead on all matters relating to risk for the core SCV team and partner with CROs for new ventures.

- Steer the development of SC ventures' business plans with strategic risk assessment and appropriate framework to manage the risk to SC ventures, as well as its venture partners.
- Provide strategic risk assessment of SC Venture's competitor landscape, and define the risk appetite for SC ventures and appropriate risk returns for its ventures.
- Actively engage leaders of non-traditional bank competitors on risk innovation, exploration and adoption of alternative risk models and data sources to realise SC Ventures' mandate to enable transformation of the Group's business models, capabilities and technology stack.
- Contribute to the development of risk, performance management and remuneration processes, in order to encourage the development of an appropriate risk culture and discipline.

- Align stakeholders and SC Ventures on thinking and approach, including situations where Bank could be a client for SCV.

- Ensure effective management of operational risks within the Risk function and compliance with applicable internal policies, and external laws and regulations.
- Work collaboratively with Group Risk, Risk Operations and Risk Analytics.

People and Talent
- Define an organisation structure aligned and scaled to the risk control needs of the SC Ventures.
- Employ, engage and retain high quality people and ensure the provision of ongoing training and development of the Risk function's people
- Establish the appropriate risk -reward culture for SC ventures
- Lead through example and embed the Group's valued behaviours and code of conduct in the Risk function

Risk Appetite
- Propose, in consultation with Group, the SC Venture risk appetite for review by the Risk Committee and approval by the Board.
- Assess periodically the risk profile of SC Ventures and its investments, and maintain alignment with risk appetite by rebalancing of risks or controls that may be required in response to internal and external factors.
- Uphold the integrity of risk/return decisions, by challenging activities, investments and new ventures undertaken to ensure risk origination and control decisions are properly informed and consistent with strategy and risk appetite.
- Direct appropriate response to material events or other risk issues that come to the CRO's attention.
- Risk Ownership of Credit, Reputational, conflict of interest and Operational Risk
- Develop and maintain risk identification, measurement and modeling capabilities which are objective, consistent and compliant with applicable regulations, and adequately balanced against wider competitor landscape beyond traditional banks.
- Ensure that material risk exposures and related issues are reported to the responsible governance committees and to the Board or Board committee as appropriate.
- Assign risk authorities to suitable named individuals in line with their skills and judgment.
- Maintain a good understanding of the requirements of SC Ventures key external stakeholders and partners in respect of risk management and ensure these are well understood internally and reflected in internal procedures.
- Define and maintain, in consultation with Finance, loss provisioning policies, procedures, delegated authorities and forecasting methods

- Align the strategy of the Risk function with SC venture's business strategy and risk appetite, and oversee its execution
- Ensure SC ventures' business heads, first line process owners and all Risk Control Owners understand and accept their risk management responsibilities.
- Maintain an open and cooperative relationship in dealings with regulators.

Regulatory & Business conduct
- Display exemplary conduct and live by the Group's Values and Code of Conduct.
- Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across all SC venture dealings. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Our Ideal Candidate
- Graduate degree with relevant years of Risk Management experience
- Risk leadership experience in the digital, startup, corporate backed ventures, innovation with a focus on enterprise risk management
- Senior Management level experience in Credit, Operational, Liquidity and Compliance risk management

Apply now to join the Bank for those with big career ambitions.