• Negotiable
  • Singapore
  • Permanent, Full time
  • Standard Chartered Bank Singapore
  • 10 Nov 17

Head of Audit - Credit Risk

  • Location: Singapore
  • Salary: Negotiable
  • Job Type: Full time

Please view Job Description for details.

You will be the Head of Audit - Credit Risk, leading a small specialist team to enable more targeted and focused audit coverage of credit risk, and increased impact with key credit risk stakeholders. The position will have direct responsibility for credit risk audit coverage Group-wide and credit file reviews mandated by regulators. The team has two sets of Bank stakeholders which defines the scope of its responsibility.
  • internal GIA stakeholders (Functional Heads of Audit);providing audit service through the assessment of risk, and designing audit test programs for credit risk, to be delivered through audits of Client Segments;
  • internal non-GIA stakeholders (Group Credit Risk Control Owners in each Client Segments that report to the Group Chief Risk Officer (GCRO)); providing audit service through direct assessment of risk and periodic delivery of audits of second line of defence assurance and governance oversight.

  • Key Roles and Responsibilities

    • Develop audit strategy for credit risk across all client segments and help ensure that the coverage of credit risk within individual audits supports that strategy
    • Lead a small specialist team to enable more targeted and focused audit coverage of credit risk, and increased impact with key credit risk stakeholders
    • Directly responsible for credit risk audit coverage Group-wide and credit file reviews mandated by regulators
    • Develop the audit plan for Credit Risk to align to the audit strategy, manage its overall execution with optimum scope and efficient use of GIA resources.
    • Assess appropriateness of the credit risk management processes commensurate with the scale and nature of the business and risk profile
    • Provide guidance and support to Client Segment and Country audit team to deliver alignment to the strategy / plan and enable consistency of credit risk coverage across segments and countries.
    • "Top-down" assessment of key credit risks and controls that can be tested via Client Segment and Country audits.
    • Design CDE and COE test programs that can assesses both process / operational risk factors, the design of policy/dispensation, and effectiveness of senior credit officer oversight
    • Support all audit planning, risks assessment, fieldwork, audit issue development and reporting activities executed in Client Segment / Country audits, attend "tollgates"
    • Review audit reports and provide feedback to audit owner (FHOA, CHOA)
    • Support FHOA and RHOA review of credit risk items that are presented to Client Segment and Regional Risk Committees.
    • Execute audits of the second line of defence assurance and governance oversight provided by each Group Credit Risk Control Owner (RCO). These audits will require a high degree of expertise to identify and agree areas for improvement that increase impact and credibility with senior credit risk stakeholders.
      • "strategic" auditing through narrower deeper coverage of areas of highest risk / specific elements of the credit risk lifecycle, challenge the content of policies, RCO challenge / quality and depth of oversight, strength of monitoring, quality and timeliness of MI, speed of escalation and risk-taking/risk acceptance.
      • periodic audits on the design and operating effectiveness of the Credit Risk Framework (CRF).
    • Demonstrate audit coverage and opinions across the credit risk lifecycle and against different components of the CRF. Consolidate opinions for reporting to the Group and Board Risk Committees. Design an approach to statistically demonstrate scope of audit coverage and control effectiveness results.
    • Provide guidance and support to CHOA credit file review teams. Ensure a Quality Assurance mechanism is in place over reviews.
    People and Talent
    • Provide oversight of GIA's Credit Skills Registry, identifying requirements for additional training or certification and develop proposals for the Learning Council to ensure audits of credit risk are performed to standard. Apply experience and skill to share knowledge within GIA.
    • Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from their team and work in collaboration with risk and control partners.
    • Ensure the provision of ongoing training and development of people, and ensure that holders of all critical functions are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
    • Employ, engage and retain high quality people, with succession planning for critical roles.
    • Responsibility to review team structure/capacity plans.
    • 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.
    Risk Management
    • Responsible for identifying, assessing, monitoring, controlling and mitigating credit risks to the Group. Also, an awareness and understanding of the main risks facing the Group and the role the individual plays in managing them.
    • The ability to interpret the Group's financial information, identify key issues based on this information and put in place appropriate controls and measures
    • Responsible for assessing the effectiveness of the Group's arrangements to deliver effective governance, oversight and controls in the business and, if necessary, oversee changes in these areas
    • Awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role.
    • Responsible for delivering 'effective governance'; capability to challenge fellow executives effectively; and willingness to work with any local regulators in an open and cooperative manner.
    Regulatory & Business conduct
    • 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 the Functions - Credit Risk Audit Team to achieve the outcomes set out in the Bank's Conduct Principles: The Right Environment.
    • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
    Key Stakeholders
    • Chief Risk Officer
    • Retail Banking
    • Corporate and Institutional Banking
    • Commercial Banking
    • Regional Chief Risk Officer
    • Greater China & North Asia
    • ASEAN and South Asia
    • Africa & Middle East
    • Europe & Americas
    • Head, GSAM
    • Head, Credit & Control Risk Review
    Other Responsibilities
    • Embed Here for good and Group's brand and values in Group Internal Audit
    • Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

    Qualifications and Skills

    • Significant experience within the banking and financial services industry, with a particular focus on Credit Risk, Credit Risk Internal Audit with strong Credit Risk coverage
    • Experienced career internal (or external) auditor, or experienced former credit practitioner with deep subject matter expertise, including judgemental credit approving of material corporate credits
    • Audit or Accounting professional qualifications are not required for applicants who are Credit Risk professionals
    • University degree preferred
    • Knowledge of Banking controls and processes
    • Solid understanding of Credit Risk Management concepts related to Consumer Banking or Corporate Institutional Banking
    • Excellent interpersonal and communication skills
    • Familiarity to technology application controls relevant to Credit Risk
    • Credit experience across all business client segments
    • Advanced understanding of credit risk management practices and controls
    • Intermediate understanding of quantitative / statistical approaches used in credit risk decisioning
    • Strong communicator, both written and verbal, with an ability to influence and an ability to gain the respect of senior management, regional stakeholders, peers and their teams
    • Up to date with key regulation / developments in Credit Risk Management
    • Demonstrate understanding of and commitment to the Group's core values
    • Fluency in English
    • Ability to commit up to 20% business travel
    • Ability to perform the role of 'Change Leader'
    • Confident and courageous to raise/escalate issues in a pro-active, professional and timely manner
    • Self directed and able to work with minimum supervision

    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

    - Some roles may require you to undertake an online talent assessment in addition to completing the application form (to facilitate this process it is preferable that you provide us with an email address as part of your contact information)
    - We will ask you about your education, career history and skills and experience, it may be helpful to have this information at hand when completing your application

    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.

    Closing Dates

    The closing date for applications is 23/11/2017. 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.