Assistant Business Operational Risk Manager
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. Scope of the Role
Business Heads are the owners of all risks in the first line of defence. According on operational risk management, the business heads, with the support from Assistant BORM conducting quality assurance, monitoring, sample testing, escalating and other control activities, are responsible to conduct business in a balanced approach on risk control and business growth. The purpose of Assistant BORM is to assist business heads, BORM and Operational Risk Control Owners (RCOs) to effectively manage operational risk within the first line of defence. The Assistant BORM must ensure that business implements and maintains operational risk controls in accordance with Risk Management Framework, Group Operational Risk Policies and Procedures. The Assistant BORM places particular emphasis on:
The Role Responsibilities Business
- Assist business line managers and BORM to ensure operational risk/return and control cost/benefit decisions prior to product launch and during business life cycles are made transparently and based on assessment in accordance with the Group's standards and its Risk Appetite
- Assist business line managers and BORM to implement effective risk management process of risk identification, assessment and measurement, acceptance and monitoring to reduce gross operational risk exposure to acceptable levels within the risk appetite
- Assist business line managers, BORM and 2 nd line operational risk team to influence the development of an operational risk culture which is forward looking, risk based and client focus
- Identify, assess, monitor, escalate and report operational risks from respective business scope to both business line managers and 2 nd line operational risk team in a timely manner.
- Quality Assurance: to make sure the quality assurance of operational risk controls in all units across all processes in the corresponding business area.
- Competency and Effectiveness: to be fully competent in control measure skills and methodology in conducting sample testing, quality checking, and monitoring; to be effective in identifying control process gaps, timely escalation of identified issues or risks, and effective actions to mitigate within the accepted timeframe.
- Ensure 1st Line risk ownership: to assist business heads or managers truly own all risks in their business areas.
- Independence toward control management: to conduct independent and effective sample testing, monitoring, and investigation on frontline sales force and all related processes with control measures in order to provide feedback to the business head and control functions in timely manner.
- Monitoring and escalation: To be responsible for monitoring all processes in the corresponding area and escalate any issues and risks to the corresponding control function area and business heads.
- Ensure V&V strictly adopt relevant Regulatory, Group, Country &/or Internal guideline or procedure.
- To be the source of reference within V&V in facilitating and promoting the understanding of operational risk and compliance requirements.
- Develop clear calendar of events for operational risk management.
- Lead and support implementation of OR initiatives for V&V.
- Ensure that Regional Risk Managers continuously review unit operation to ensure that there is no surprises.
- Escalate significant events & proactively communicate with the Business Heads and Head of BORM, Regions & Channels on operational risk issues as appropriate.
- Coordinate and consolidate operational risk and loss report of V&V for appropriate representation to Business Heads and Head of BORM. Ensure data accuracy and completeness.
- Ensure Key Control Self-Assessment (KCSA) framework is strictly adhered throughout the year by putting in place structured review mechanism.
- Design and implement control measures and monitoring plans for compliance and operational risk management. Ensure effectiveness of controls for compliance monitoring and risk management.
- Undertake and/or coordinate periodic business monitoring (self-assessment) activities within V&V and escalate findings and or breaches to Business Heads, when they occur.
- Ensure risks and issues identified are resolved in an appropriate and timely manner.
- Assist Business Heads in the implementation of OR framework or other relevant OR initiatives.
- Identify gaps and arrange training for staff on compliance and OR topics.
- Accountable for implementing and complying with AML requirements when performing duties.
Regulatory & Business Conduct
- Support the vendor management within V&V to ensure the vendor/s execute their roles & responsibility as request.
Key Stakeholders (Internal)
- 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 V&V to achieve the outcomes set out in the Bank's Conduct Principles; F 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.
(External) Other Responsibilities
- All business within V&V;
- BORMs and responsible persons undertaking business monitoring in various units;
- Managers in Group Business Operational Risk;
- Legal & Compliance;
- IS & IT personnel (Local and Group);
- Training Manager(s).
Our Ideal Candidate
- Cross team collaboration - proactive engagement with Business Heads and all responsible persons in the business.
- Effectiveness of the control and monitoring of operational risk, compliance risk and money laundering prevention at each Business.
- Satisfactory results on audit undertaken by Group Internal Audit, regulators and external auditors.
- Timely communication of changes to the regulatory environment and internal Policies from Legal & Compliance and Operational Risk Management Group.
- Timely reporting and escalation of all operational risk exposures.
- Regulatory champion for Businesses.
- Good knowledge of banking operations and contact centre working environment.
- Thorough knowledge of Operational risk procedures.
- Detail oriented.
- Good relationship skills and interpersonal skills.
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.