Focus and implement an effective Operational Risk Framework (ORF) within the business unit to ensure operational risks and controls are being managed appropriately at the business unit level in a proactive, risk based and disciplined manner to meet external, internal and regulatory requirements.
Review and monitor product / business operational risk management from an end-to-end basis.
Ensure proper functioning of day-to-day controls, periodic monitoring activities, and timely identification and resolution of risk issues.
Promote a strong operational risk management and compliance culture.
Key Roles and Responsibilities
Implement and monitor ORF
1. Implement ORF across the business unit, execute first line self assessment model, report and analyze operational risks items to WM Risk Forum, any other equivalent committee in the country, as well as Group Operational Risk / Group Wealth Management. Track and follow through management actions to mitigate identified operational risks exposure.
2. Facilitate, embed, deploy and execute Key Control Standards (KCS), Key Control Sample Testing (KCST) and Key Risk Indicators (KRI) within business unit.
3. Report losses, risk events, policy deviations, KCST & KRI exception, and engage appropriate stakeholders on timely remedial actions; escalate key risk situations that pose significant risk.
4. Identify new, thematic and developing risks; provide operational risk advice through ORF and ad hoc reviews at the unit level.
Monitor business risk/return prior to product launch and during the product life cycles
1. Understand risk profile and deploy/utilise Operational Risk Assessment Matrix, Delegated Authorities Matrix and the Risk Management Process.
2. Assess regularly existing business key controls against the risk control monitor to assess the level of control effectiveness, efficiency and relevancy in risk mitigation.
Implement effective risk management process with Wealth Product Group
1. Risk Identification i) Identify and assess E2E gross operational risks ii) Document accordingly (Risk Profile, Country Addenda, Risk Register etc) iii) Reporting of exposures for acceptance at the appropriate governance level.
2. Risk Assessment i) Assess Gross Risk Exposure ii) Design effective mitigating controls iii) Implement risk control iv) Conduct BAU activities with agreed risk controls
3. Risk Acceptance i) Follow through risk acceptance process to comply with ORF and delegation of authority ii) Promote approval of acceptance of residual risks above appetite
4. Risk Monitoring i) Implement systematic monitoring on process control effectiveness - Monitor key control indicators - Conduct independent sample testing of controls ii) Provide MIS as per agreed key controls, and escalate if needed, to appropriate management iii) Review and monitor MIS, do trend analysis, accept or escalate risks iv) Design, approve and implement action to mitigate gaps identified
5. Operational Risk Recording / Reporting i) Capture gross and residual risk exposure identified and OR loss promptly and accurately in Phoenix in accordance with Group's Operational Risk Policies and Procedures ii) Follow through appropriate escalation and approval required
Influence the development of an operational risk culture
1. Implement policies, procedures, and ensure compliance.
2. Maintain operational risk view across all end to end processes in each business unit product and service value stream.
3. Coordinate training efforts to promote risk management and compliance culture within the Business unit. Ensure gaps are identified and staff are suitably trained on operational risk and compliance.
Audit and Operational Risk Interface
1. As the key business interface with Audit and OR functions including WM Risk Forum. 2. Coordinate audits. 3. Develop and implement Management Action Plan in Audits 4. Socialize Audit findings and re-assess the control effectiveness as part of the residual risk ratings. 5. Assisting in organising WM Risk Forum and relevant minutes of meeting. 6. Organise and ensure proper closure of WM Risk Forum action items.
Qualifications and Skills
1. Degree holder, preferably 8-10 years of banking experience in the respective business areas he/she is supporting
2. Talent Team player who shows initiative and assertiveness and team coordination Self-motivated, with pro-active service attitude Enjoy work pressure
3. Knowledge: Solid strategic and operational knowledge of the relevant SCB business he/she is supporting Operational risk knowledge - Expert Regulatory knowledge - Expert End-to-end knowledge in the respective areas he/she is supporting - Advance Market and competition knowledge - Core Product knowledge - Core
4.Skills Change management skill - Advance Interpersonal and influencing skill - Advance Coordination and execution skill - Advance Collaboration and team work skill, with dealing skill with all levels in complex and difficult situation - Advance Communication and listening skill - Advance Negotiation and engagement skill - Advance
6.Behaviour Proactively identify gaps in sales and operational practices with proposal solutions. Execution oriented and connected to the realities of the business and the front line. Translate strategy, policy, themes, into actionable plans /executable plans which are realistic within country business and regulatory context. See plans through the execution phase.
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.