- Maintaining a proactive and professional approach to risk management and developing an enterprise-wide risk management culture across of the bank to embed risk awareness, the three lines of defense model and procedural integrity. - Developing a highly skilled and motivated risk team to meet the growing needs of the business
Group Chief Credit Officer/Singapore GM
Local Operational Risk Committee
Local Management Committee
Dimensions of role:
The total risk-assets of the bank originating from Asia
Budget responsibilities for Credit & Risk Dept
Non-Financial (size of team, geographical coverage, time horizon of main decisions, etc.):
Establish a best in class risk operating model for the Bank's Asia operations (TIMELINE)
Manage overall risk for the Asia operations covering new credit applications and annual credit reviews, involving a mix of bank customers, corporate and project finance, as well as country limit applications.
Make recommendations to the GCCRO/Head Office on Risk Appetite and Risk Policies.
Oversee Operational risk framework roll out
Maintain register of enterprise/business Risk, working with the first line and ensuring appropriate strategies to manage and mitigate or accept risks as appropriate, as agreed at appropriate venue.
Principal Responsibilities, Accountabilities and Deliverables of Role:
Key stakeholder in establishing the Risk framework for Asia within the Bank's Group Risk policy and strategy. In addition, Ensure that risk appetite is set in line with Group guidance, Board direction and local regulatory requirements. That the risk appetite drives the strategy adopted by the business in Singapore and that the annual operating plan is established within the parameters set by the risk appetite.
Ensure banking governance, policies and procedures are aligned with both Group guidance and local regulatory requirements. That they are kept up-to-date effectively communicated and understood by all employees, and that adherence is tested and confirmed on a regular basis
Develop and establish a target operating model to assess, monitor and approve credit requests (new and existing) within delegated authority and in line with the bank's risk policies and appetite. Recommend in all other cases, to higher approval authorities.
Communicates the key elements of Group risk management framework to all employees, advises on how the framework is to be applied in relation to all types of risks and oversees testing of the employees' adherence to and understanding of the framework. This will build a culture of risk awareness so that potential risk issues, actual incidents and loss events are proactively identified, mitigated (where possible) and reported in a timely and transparent manner
Key proponent of enterprise risk management, and thereby:
drives the identification, quantification, governance and management/mitigation of risks incurred by the business
advises line of business leaders and senior leadership on the evolution of the different risks incurred by the businesses
coordinates the activities of Group risk disciplines [eg operational risk, wholesale credit risk] in support of the wholesale bank
acting as a conduit between global risk management local risk management providing a focal point for issues escalation, both globally [functional] and locally [entity]
Confirms the appropriateness of limits frameworks and related controls
Managing other pertinent risks viz. market risk, operational risk and liquidity risk etc. through effective risk management/credit risk policies, processes and strong end to end debt management model covering origination, assessment/approval, limit settings, disbursements/monitoring, post lending/monitoring control and mitigation. Work with all appropriate members of management team to control strategic, credit, market, liquidity, operational and compliance-related (regulatory) risks
Act independently from the 1st line of defence to Identify and escalate issues and concerns to recommend amendments to policies, procedures, practices, etc. or the cessation of activities, businesses which lie outside of risk appetite.
Tracks and oversees investigations and remediations of limit/cap excesses, focusing on root cause analysis and sharing across the group key learnings
Manage portfolio quality including timely identification of potentially problematic counterparties and related analysis escalated to Head Office.
Provide regular updates to Head Office on Risk portfolio and the adequacy and effectiveness of risk management within the region. Advise Group leadership on the risk management performance of material risk takers within the branch
Forms and leads special purpose teams as required to address specific wholesale banking needs: eg RWA optimization, RoRWA enhancement, value for money provided by the risk management function, etc.
Play a leading role in credit risk approval as main Risk representative of the regional Credit Committee, in line with the constitution and procedures of that committee.
Build credit awareness & three lines or defense a risk culture within risk & business staff in Asia.
Evaluate credit risk (financial, transactional and other) relating to new Corporate and FI business proposals and to make specific recommendations to the Head Office Credit Committee (and Board if necessary) through succinct presentations so that the bank can pursue good quality loans and other risk assets. Embed the principle of good practice established by the group through the CCT training programme.
Work with the Business to agree on business framework for expansion into country/sector etc.
Evaluate country risk (economic /political) using all available sources, and as a member/invitee to the Group Country Risk Committee recommend to the HOCC prudent group country limits (bearing in mind business requirements as well as risk diversification/control).
Undertake portfolio studies of credit risks within a unit, industry or economic sector, in order to evaluate risk on a portfolio basis, and recommend actions if any for management's review and control of business concentrations.
Work in close co-operation with Group Credit to ensure consistency in credit approach.
Keep up to date with all new regulatory issuances and attend conferences and webinars hosted by regulators etc.
Liaise and work with external regulators including external audits.
Inculcate a culture of risk control and compliance within the region and lead by example.
Assist GCCRO in the formation and implementation of the Credit and Risk Strategies in each Asian Market and related framework, including appropriate country specific Risk Acceptance Criteria
Risk, Compliance & Business Continuity:
At all times, act with due care, skill and diligence to ensure compliance with the businesses risk culture, policies and procedures, Code of Conduct and Values.
Ensure a climate of openness, transparency and accountability for compliance with external regulations and internal risk policies and procedures, where issues are raised and escalated, as appropriate and required, in a timely manner.
Ensure that stakeholders and reports are educated on risk and compliance matters, and that all employees in reporting line complete mandatory training to schedule.
Ensure that policies and procedures for your area(s) of responsibility are clearly documented, stored in an accessible manner, and kept up to date.
Participate in exercises to rehearse the banks response to an emergency situation (i.e. evacuation exercises and Business Continuity tests)
Job Context (Circumstances & environment surrounding the job):
The job holder is expected:
To be skilled in balancing risk-prudence with actual market-practices/pressures and support growth of a sustainable well managed risk portfolio.
Set risk strategy and appetite in coordination with the concerned parties (regionally) and Head Office
Monitor and analyse bank's different credit portfolios including FI and Corporates.
Full Compliance with HO regulations and Local regulations while ensuring that stricter regulations are adhered to.
Voting member in Credit Committee, ALCO, Risk and Control committees.
Lead, manage and supervise all credit and risk functions including credit, market and operational risks.
to be fully conversant with the bank's and Group credit policies and procedures (as amended periodically) both for implementation in H. O. and for advice to credit officers where necessary.
To have good negotiation skills and tact in order to build strong relationships with business heads.
To develop a strong rapport with the team and to give guidance to junior staff.
Be instrumental in talent development & retention.
Ensure the adoption of market best practice
Excellent knowledge of Credit Risk, Operational & Market Risk
A good Master's degree in Business Administration or other financial discipline such as professional Banking/accounting diploma etc.
At least 20 years of core banking experience (Corporate Banking/Credit) with 10-15 years in Risk with emphasis on Credit Risk and previous experience as CRO required. Should also have good working knowledge of Operational and Market Risk.
Sound analytical/investigative skills.
Strong accounting and banking knowledge.
Strong written & oral communication skills.
Good time-management skills.
Self-motivation and team-player attributes.
People management and relationship skills.
IT literate (from PC usage to Risks systems).
Strong knowledge of Asia (emphasis on target markets).
Chinese language spoken and writing skills would be viewed as a positive.
Regulatory Status of Role : Country Specific
This role is anticipated to be an approved person position with the MAS and the role holder must be familiar and compliant with the responsibilities.