Senior Risk Officer, Sustainable Finance, Risk
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. The Role Responsibilities Please note this role can be based either in Singapore or in London. SMR Responsibilities delegation - In line with agreed cascades of GCRO SMR sub responsibilities to RMT and other delegates SMF 4
Second line of defence responsibilities
As Senior Risk Officer, I am responsible for the second line of defence responsibilities related to Credit Risk, which involves oversight and challenge of risk management actions from the First Line, including the following:
- The Group's Enterprise Risk Management Framework ("ERMF") with regards to Credit Risk, which sets out the Group's approach to risk management and the control framework within which risks are managed and risk-return trade-offs are made.
- The Group's Risk Appetite Framework, with regards to Credit Risk, which sets out the Group's appetite to material risk types that it is exposed to. Monitor compliance to Board approved risk appetite using the risk information report covering principal risk-types Credit Risk; and highlight significant matters to the attention of senior management and senior risk committees.
- Ensure a robust effectiveness review process for the ERMF with regards to Credit Risk and escalate significant matters and/or gaps in ERMF implementations to senior management and the relevant Board level committees as relevant.
- While there are no credit approval authorities for individual credit decisions, being responsible for all Sustainable Finance related considerations (including green, environment, social, sustainable and transition) which cuts across various industry sectors within Corporate, Commercial and Institutional Banking ("CCIB", herein refer to as "Credit Risk Industries") from a second line standpoint.
I am responsible for the following:
- Building a culture of good conduct in the Risk function and embedding the Risk Culture statement as described in the ERMF.
I am responsible for discharging my Process Universe related responsibilities as defined in the ERMF:
- Reviewing, challenging, and providing oversight of the risk profile of the Risk process universe.
- Plan development of risk parameters relating to Sustainable Finance and embed into various Credit Risk Industries' Credit Underwriting Principles and according to Risk Tolerance and Policy Frameworks and documents.
- Identify, measure and monitor risk profiles at the portfolio level under Credit Risk Industries and ensure alignment of strategy across the various Regions.
- In relations to the Credit Risk Industries and Credit Underwriting Principles, inform the development of business plans (if any) and a balanced judgment on the external environment.
- Contribute to the development of performance management and remuneration processes, in order to encourage the development of an appropriate risk culture and discipline
- Align strategy of the Risk function with business strategy and risk appetite for Sustainable Finance across the various C redit Risk Industries a nd Credit Underwriting Principles and oversee its execution.
- Identify, measure and monitor material risk affecting CCIB portfolio in the context of the external market environment.
- Communicate the strategic intent and collective agenda for the Risk function.
- Maintain and develop the risk capabilities, and skills to meet ongoing business needs and plans.
People and Talent
- Control portfolio within the set risk parameters to ensure risk profile within risk tolerances.
- Supervise all processes where the direct reportee is the identified first line process owner.
- Ensure compliance with applicable internal policies, and external laws and regulations, insofar as related to Credit Risk Industries .
- Continuously improve the operational efficiency and effectiveness of the risk management processes.
- Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from their team and work in collaboration with risk and control partners.
- Ensure the provision of ongoing training and development of people and ensure that holders of all critical functions are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
- Employ, engage and retain high quality people, with succession planning for critical roles.
- Responsibility to review team structure/capacity plans.
- Define an organization structure aligned and scaled to the risk control needs of the business.
- Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.
- Uphold and reinforce the independence of the Risk function from those whose primary responsibility is to maximise short-term revenues and profits
Regulatory & Business Conduct
- Assess the credit risk profile of the Corporate, Commercial & Institutional Banking portfolio under the applicable Sustainable Finance, Credit Risk Industries and Credit Underwriting Principles, maintaining alignment with Group Risk Appetite by rebalancing of risks or controls that may be required in response to internal and external factors.
- Be and build a centre of excellence for Sustainable Finance across the various Credit Risk Industries as well as wider CCIB portfolio.
- Ensure alignment of all applicable Sustainable Finance strategies across the various Regions.
- Assist the Credit Officers in developing their expertise on Sustainable Finance, where required, and/or upon specific requests from Regions/Countries.
- Work with other stakeholders in the bank in the development of various Sustainable Finance framework and models for IFRS 9 and AIRB.
- Participate and contribute key process related initiatives related to the applicable Credit Risk Industries.
- Initiate stress tests as required by internal and external factors and review results and assess their implications.
- Assist the CRO with various IFRS 9 initiatives/reports and stress tests pertaining to Climate Risk / Sustainable Finance as well as other areas as required
- Ensure that effective management response plans are in place to respond to extreme but plausible scenarios.
- Uphold the integrity of risk/return decisions as a portfolio, by challenging Business to demonstrate that 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 attention.
- Ensure that material risk industry trends are reported to the responsible governance committees and to Group and business-level committees as appropriate.
- Highlight for action, taking account of concentration risk across sectors, geographies and markets, in C redit Risk Industries .
- Ensure communication and cascading of relevant aspects of Credit Risk Industries and Credit Underwriting Principles to the Credit Officers.
- Maintain a good understanding of the requirements of key external stakeholders in respect of risk management and ensure these are well understood internally and reflected in internal procedures.
- Obtain assurance regarding the effectiveness of the business controls and compliance with applicable laws & regulations.
- Actively participate in key committees through standing membership.
- Maintain an open and cooperative relationship in dealings with regulators.
- Align the strategy of the risk function with business strategy and risk appetite and oversee its execution .
- 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 Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
- Lead the team to achieve the outcomes set out in the Bank's Conduct Principles Fair Outcomes for Clients; Effective Operation of Financial Markets; Financial Crime Prevention; The Right Environment.
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key Stakeholders Internal
- Maintain an open and cooperative relationship in dealings with Local Regulators.
- Members of Risk Management Team
- Global Head, Sustainable Finance and the management team
- Global Head, Global Industries Group and the management team
- Group Heads of Control functions
- Group Internal Audit
- Global Head, Client Coverage
- Credit Risk Officers
- Senior Relationship Managers and Coverage Bankers for CCIB Clients
- Prudential Regulation Authority (PRA)
- Key Footprint Regulators
- The Group's external auditors
- Economic and Industry Associations
- Counterparts in major financial institutions
- Leading Risk Consultancies
- Local governance bodies
Our Ideal Candidate
- Embed Here for good and Group's brand and values in CCIB Risk team .
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures
- Market knowledge: 10+ years of substantial experience at the highest level in Sustainable Finance and the banking industry, including demonstrated success in a similar role.
- Business strategy and model: sharp business acumen(including ability to assess risk and appropriate levels of return), strong leadership qualities, excellent interpersonal skills and multi-cultural awakened and sensitivity.
- Risk management and control: demonstrated track record in successful management and ability to manage risk in geographically dispersed and highly varied product base. Expertise in process design and control.
- Regulatory framework and requirement: awareness and understanding of the regulatory framework in which the firm operates and the regulatory requirements and expectations relevant to the role of Senior Risk Officer, Sustainable Finance, Risk.
- Non technical skills: significant relationship management experience- with external stakeholder at the most senior levels, including regulators and rating agencies.
- Banking training:
- Role specific training which are mandatory and developmental
- Risk management framework
- Core credit curriculum
- Other training as deemed mandatory by the bank and updated on a periodic basis.
Apply now to join the Bank for those with big career ambitions.
To view information on our benefits including our flexible working please visit our career pages . We welcome conversations on flexible working.