Operational Risk Officer Operational Risk Officer …

Standard Chartered Bank
in Singapore, Singapore, Singapore
Permanent, Full time
Last application, 13 Aug 19
Standard Chartered Bank
in Singapore, Singapore, Singapore
Permanent, Full time
Last application, 13 Aug 19
Standard Chartered Bank
Operational Risk Officer
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.

The Role Responsibilities

  • Align the strategy of the Operational Risk function with Business strategy and risk appetite and oversee its execution for Corporate, Commercial and Institutional Banking (CCIB).
  • 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 CCIB.
  • Contribute to the development of performance management processes, to encourage the development of an appropriate risk culture and discipline in CCIB.
  • Define the strategic intent and agenda for the Operational Risk function for CCIB.
  • Maintain and develop operational risk capabilities, skills, and infrastructure to meet ongoing business needs and plans for CCIB.
  • Responsible for the operational efficiency and effectiveness of the Operational Risk CCIB function, including risk management processes, by defining and maintaining an operational excellence agenda for the Operational Risk CCIB function
  • Supervise all processes where a member of the Operational Risk function is the identified process owner for CCIB.
  • 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.
  • Strong understanding and demonstrated experience in 1 st line running the Process or in 2 Line of Defence or 3 rd line supporting Corporate client segment businesses and managing the end to end deal lifecycle
  • Experience and understanding of Client segment and product sales a plus
People and Talent
  • Lead through example and build the appropriate culture and values. Set appropriate tone and expectations 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.
  • Uphold and reinforce the independence of the Operational Risk function from those whose primary responsibility is to maximise short-term revenues and profits.
Risk Management
  • Define clear timeline and milestones for the ORTF roll out for CCIB.
  • Define and design appropriate MI and communicate ORTF updates to relevant committees.
  • Align the Group's operational risk management approach to the Enterprise Risk Management Framework and oversee its effective application across all areas.
  • Contribute to the design of the risk committee structure for non-Financial Risks and ensure it is effective.
  • Ensure business heads, process owners and RFOs (including Subject Matter experts for the NPRT) understand and accept their risk management responsibilities to design and operate an effective system of controls.
  • Maintain an open and cooperative relationship in dealing with regulators.
  • Assess periodically the NPRT profile of CCIB and maintain alignment with risk appetite by rebalancing controls that may be required in response to internal and external factors.
  • Initiate, at least annually and with guidance from Group specialists, a stress test and scenario programme for operational risk, review the results and assess their implications.
  • Support the management of firm's internal stress tests and ensuring the accuracy and timelines of information provided to the PRA and other regulatory bodies for the purposes of stress testing
  • Ensure that effective management response plans are in place to respond to extreme but plausible scenarios.
  • Uphold the integrity of 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 Senior Operational Risk Officer, GB & CB's attention.
  • Provide balanced and informed assessments of NPRT exposures arising from acquisitions, and operational and delivery risks arising from major change initiatives.
  • Develop and maintain risk identification, measurement, and modelling capabilities which are objective, consistent, and compliant with applicable regulations.
  • Ensure that material NPRT 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 risk that arises from end-to-end processes for CCIB.
  • Design, maintain, and effectively communicate operational risk control parameters across the Group, including policies, control standards, risk exposure limits, and other control levers 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 all risk types, and identify and address any significant control 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 risk controls and compliance with applicable laws and regulations.
  • Ensure effective reporting of operational losses in line with policy.
  • Ensure that the Non-Financial Risk committees are exercising their responsibilities effectively within delegated authorities; actively participate in other key committees through standing membership.
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 Group Operational Risk function to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
  • PRA/FCA prescribed responsibilities as set out above.
Key Stakeholders

  • Chief Operating Officers - Global Banking and Commercial Banking
  • Risk Owners relevant for Global Banking and Commercial Banking
  • Internal Audit
  • Members of Group Operational Risk Leadership Team
Other Responsibilities
  • Embed Here for good and Group's brand and values in Group Operational Risk Team,
  • Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Our Ideal Candidate

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 Operational Risk Officer, GB & CB role.

Non-technical Skills: Significant relationship management experience - with external stakeholders at the most senior levels, including regulators and rating agencies.

Apply now to join the Bank for those with big career ambitions.