| Strategy |
- Inform the development of business plans with the provision of operational loss forecasts and a balanced judgement on operational risks in the external environment for Financial Markets.
- Contribute to the development of performance management processes, in order to encourage the development of an appropriate risk culture and discipline in Financial Markets.
- Contribute towards defining the strategic intent and agenda for the Operational Risk function for Financial Markets.
- Contribute towards maintaining and developing operational risk capabilities, skills, and infrastructure to meet ongoing business needs and plans for Financial Markets.
People and Talent
- Supervise all processes where a member of the Operational Risk function is the identified first line process owner for Financial Markets.
- Ensure effective management of operational risks within the Operational Risk function and compliance with applicable internal policies, and external laws and regulations.
- Continuously improve the operational efficiency and effectiveness of operational risk management processes.
- Lead through example and embed the Group's values and code of conduct in the Operational Risk function to drive adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees.
Regulatory & Business conduct
- Define clear timeline and milestones for the ORF roll out for Financial Markets specific sub products you lead.
- Define and design appropriate MI and communicate ORF updates to relevant committees.
- Align the Group's operational risk management approach to the Risk Management Framework and oversee its effective application across all areas.
- Contribute to the design of the PGC and other Risk committees for Financial Markets for managing operational risk and ensure they are effective
- Ensure that the Operational Risk committees are exercising their responsibilities effectively within delegated authorities; actively participate in other key committees through standing membership
Ensure business heads, first line process owners and all Operational Risk Control Owners understand and accept their risk management responsibilities.
- Maintain an open and cooperative relationship in dealing with regulators.
- Assess periodically the operational risk profile for Financial Markets and maintain alignment with risk appetite by rebalancing controls that may be required in response to internal and external factors.
- Contribute relevant scenarios to perform stress testing relevant to Financial Markets, review the results and assess their implications.
- Ensure that effective management response plans are in place to respond to extreme but plausible scenarios.
- Uphold the integrity of operational risk / return decisions, by challenging business and control function heads 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 the Global Head, Operational Risk's attention.
- Provide balanced and informed assessments of operational risks arising from acquisitions and major change initiatives.
- Exercise Risk Control Ownership of Operational Risk where the Group Head, Operational Risk is the Risk Control Owner.
- Develop and maintain risk identification, measurement, and modelling capabilities which are objective, consistent, and compliant with applicable regulations.
- Ensure that material risk exposures and related issues are reported to the responsible risk governance committees and to the Board Risk Committee.
- Assign operational risk authorities to suitable named individuals in line with their skills and judgement.
- To provide a focal point of control over the aggregate level of operational risk that arises from end-to-end processes for Financial Markets.
- Design, maintain, and effectively communicate operational risk control parameters across Financial Markets, including policies, control standards, risk exposure limits, and other control levers in order to maintain the Group's risk profile in line with the overall risk appetite set by the Board.
- Challenge the completeness of risk identification, monitoring, and control activities across Operational Risk Control Areas and identify and address any significant gaps that may exist between them.
- Maintain a good understanding of the requirements of the Group's key external stakeholders in respect of operational risk management and ensure these are well understood internally and reflected in internal procedures.
- Obtain assurance regarding the effectiveness of operational risk controls and compliance with applicable laws and regulations.
- Ensure effective reporting of operational losses in line with policy.
- Approval of Risks in line with Group Risk Committee paper of 15th December 2015.
- 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.
- Contribute to leading the Financial Markets Operational Risk function 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.
Qualifications and Skills
- Academic or Professional Education/Qualifications:
- Minimum degree from a an accredited university
- Substantial experience at the highest level in the banking industry, including demonstrated success in a similar role in a similar first line Business or Control focused role. Experience of Financial Markets is essential. Must understand processes and controls at a detailed level.
- Business Strategy and Model: Sharp business acumen (including ability to assess risk and appropriate levels of return), strong leadership qualities, project management and decision making skills. Ability to work autonomously, with minimal guidance and a delivery focused approach is absolutely essential.
- 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 Requirements: Awareness and understanding of the regulatory framework in which the firm operates, and the regulatory requirements and expectations relevant to the role of Senior Operational Risk Officer in Financial Markets.
- Significant relationship management experience - with external stakeholders at the most senior levels, including regulators and rating agencies.
- Licenses and Certifications/accreditations: N/A
- Professional Memberships: N/A
- Bank training:
- Regulatory Framework and Requirements: Awareness and understanding of the regulatory framework in which the firm operates, and the regulatory requirements and expectations relevant to the Head, Operational Risk, Financial Markets role.
- Languages: Business proficiency in English (Verbal and Written)
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.