To uphold the integrity of the Group's operational risk / return decisions, and in particular for ensuring that operational risks are properly assessed, that risk / return and control cost / benefit decisions are made transparently on the basis of this proper assessment, and are controlled in accordance with the Group's standards and its Risk Appetite.
To ensure the principles of the Risk Management Framework are embedded in the policies and procedures of Operational Risk, linking them to risk limits and ensuring that the Bank's Risk Appetite is adhered to.
To provide a focal point of control over the aggregate level of operational risk that arises from end-to-end processes, including the design of effective controls and the systematic monitoring of process control effectiveness.
To exercise direct Risk Ownership for Operational Risk and ensure risks of processing failure are being actively controlled on an end-to-end basis.
This role has supervisory responsibilities and therefore the Bank's supervisory principles must be followed. Note: This Job Description should be read in conjunction with the Risk Management Framework and the Governance Manual.
Key Roles and Responsibilities
Inform the development of business plans with the provision of operational loss forecasts and a balanced judgement on operational risks in the external environment.
Contribute to the development of performance management processes, in order to encourage the development of an appropriate risk culture and discipline.
Define the strategic intent and agenda for the Operational Risk function.
Maintain and develop operational risk capabilities, skills, and infrastructure to meet ongoing business needs and plans.
People and Talent
Employ, engage, and retain high quality people.
Define an organisation structure aligned and scaled to the operational risk control needs of the Group.
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 Operational Risk function from those whose primary responsibility is to maximise short-term revenues and profits.
Ensure the provision of ongoing training and development of the Operational Risk's functions people, and ensure that holders of all critical functions are suitably skilled and qualified for their roles.
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.
Implement the Operational Risk Framework ("ORF") Programme across all relevant locations to bring rigour to the identification and management of risks in processes which are capable of producing material unsatisfactory operational risk outcomes for the Group.
Define clear timeline and milestones for the ORF roll out.
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 risk committee structure for operational risk and ensure it is 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 Owners understand and accept their risk management responsibilities and adhere to the Banks Risk Mgmt framework, policies and procedures.
Maintain an open and cooperative relationship in dealing with regulators.
Assess periodically the operational risk profile of the Group and maintain alignment with risk appetite by rebalancing controls that may be required in response to internal and external factors.
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 escalated to the OR Head
Provide balanced and informed assessments of operational risks arising from acquisitions and major change initiatives.
Exercise Risk Ownership of Operational Risk including taking ownership for Identifying, measuring and managing risks within the business
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 Group Operational 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.
Design, maintain, and effectively communicate operational risk control parameters across the Group, 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 15 th December 2105
Provide leadership in group operational risk team to comply with the highest standards of regulatory and business conduct and practices as defined by internal and external requirements. Understand and ensure compliance with, in letter and spirit, all applicable laws, regulations and guidelines including those governing securities activities, company law, anti-money laundering, terrorist financing and sanctions; the Group's policies and procedures; and the Group Code of Conduct. Take personal responsibility for understanding the risk and compliance requirements of the role. Effectively and collaboratively identify, escalate, mitigate and resolve risk and compliance matters.
Embed the Group's Values and Group Code of Conduct to ensure adherence with the highest standards of ethics. Comply with relevant policies, processes and regulations, as part of the culture. Lead by example by displaying exemplary conduct behaviours and take personal responsibility for:
the conduct of individuals in group operational risk team ensuring behaviours set out in the Group Code of Conduct are followed.
risk function achieving the outcomes set out in the Conduct Principles and Pillars.
both direct and indirect/dotted line managers are individually accountable to proactively communicate, collaborate and agree on the conduct ratings of employees.
Key Stakeholders Internal :
Global Business Heads and Management teams - Private Banking and Wealth Management
Chief Operating Officers for Private Banking, Wealth Management and Europe
Global and Country Process Owners
Operational Risk Management Team
Prudential Regulatory Authority (PRA) and other key regulators
Industry Groups in the area of operational risks
The Group's external auditors
Heads of Operational Risk in major financial institutions
Qualifications and Skills
Market Knowledge: Substantial experience at the highest level in 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 awareness 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 Requirements: Awareness and understanding of the regulatory framework, in which the firm operates, and the regulatory requirements and expectations relevant to the Global Head, Operational Risk role
Ability to work with minimal supervision and deal with ambiguity
Non-technical Skills: Significant relationship management experience - with external stakeholders at the most senior levels, including regulators and rating agencies
Operational risk management experience
First Line Business/function experience is essential
A clear understanding of the Bank's approach to the management of operational risk, or equivalent experience gained in other organisations
Ability to leverage resources across the organisation to complete deliverables
Sound judgement and courage necessary to perform a control role and maintain effective working relationships
How To Apply
You can search and view current opportunities across our organisation and apply immediately by visiting www.standardchartered.com and selecting Careers. To help speed up your application, please note the following:
- You will need to log in (or register if you are visiting our careers site for the first time) before you can apply for a specific role
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It usually takes 15 - 20 minutes to complete the application form; you can save your application at any time and return to complete it at your convenience.
The closing date for applications is 26/06/2017. Please note all closing dates are given in Hong Kong time (GMT + 8 hours). We aim to respond to successful applicants within four weeks and will keep a record or your application in our database so that we can contact you when suitable vacancies arise in future.
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.