Senior Operational Risk Manager

  • Negotiable
  • Shanghai, Shanghai Shi, China
  • Permanent, Full time
  • Standard Chartered Bank
  • 23 Aug 16

Please view Job Description for details.

Business Title Senior Operational Risk Manager
Business Unit: Risk
REPORTING RELATIONSHIP
Reports directly to: Country Operational Risk Head
Matrix reporting to: n/a
Direct / matrix reports: n/a
DIMENSIONS
Staff: n/a
Delegated Authority: Individual has implied authority to do what is necessary in carrying out their Responsibilities below, subject to requirements of the Sources of Authority Framework including compliance with the Group Delegated Authorities Manual, Power of Attorney Policy and Authorities Manual, Power of Attorney Policy and Group Authorized Signature Book
Number of branches: n/a
Number of entities / business units: n/a
Board appointments: None
PURPOSE (explain succinctly the reason for existence of the role)
* To ensure that operational risks are properly assessed; that processes, roles and responsibilities are clearly understood; that all risk / return and control costs / benefit description are made transparently on the basis of a complete and proper assessment, and all controls are implemented in accordance with the Group's standards and in line with the Risk Appetite
* To ensure Operational Risk Framework and all associated policies and procedures and the Risk Management Framework are effectively embedded and communicated in country to Businesses and Functions
* To be the central point of contact for operational risks within the Country arising within the processes, including being responsible for the evaluation of the design and operational effectiveness of all controls. To ensure risks of processing failure are being actively managed and monitored on an end-to-end basis in Country; including providing regular control assessments of required controls and escalation in instances
SCOPE OF RESPONSIBILITIES
1. Implement ORF in country
1.1. Run Implementation Oversight Forum in country and track milestones to completion
1.2. Critically assess local deviations from Group Standard Processes and drive the standardization agenda in country
1.3. Ensure all local differences are documented in Country Addenda, approved by the relevant PGC and fully implemented in the ORF
1.4. Support in country training for ORF implementation
1.5. Deliver in country training on Operational Risk Platforms

2. Embed use of ORF in country
2.1. Embed Top Risks in metrics and ensure those risks are managed in country
2.2. Ensure the completeness of the Operational Risk Profile at country level, including consideration of all risks which have been accepted by Group risk committees
2.3. Table the Risk Information Report and risk management action plans at CORC
2.4. Recommend and oversee implementation of business restrictions, process and/or control improvements where necessary
2.5. Plan and deliver scenario analysis and stress tests to CORC
2.6. Be the focal point of operational risk review on strategy, process and control embedded in the country to ensure fit for growth

3. Ensure compliance with OR
3.1. Ensure immediate escalation to Group of unsatisfactory operational risk events
3.2. Drive comprehensive, high quality root cause analysis of unsatisfactory operational risk events and agree risk management action plans with Local Process Owners
3.3. Ensure new activities, changes to processes and products conform with the Project Governance Policy and the Product Governance Policy
3.4. Monthly oversight of gross and residual risk ratings and risks requiring escalation under the Risk Assessment and Acceptance Policy
3.5. Embed Operational Risk policies, ensuring first and second line are aware of and understand their responsibilities under them

4. Deliver second line assurance
4.1. Assurance over integrity of country level ORF metrics (KCIs, CSTs, KRIs) for all processes
4.2. Monthly assurance of residual risk assessments using the Group Risk Assessment Matrix
4.3. Ensure controls are operating effectively and defects are resolved or escalated according to the ORF Hierarchy of Monitoring
4.4. Identify differences in standards set by Country Risk Control Owners and escalate to Country Head Operational Risk
4.5. Monthly assurance performed on identified processes and controls mapped under top risks in the country
4.6. Maintain end to end oversight of all risks which have escalated to Group for acceptance and conditions and other feedback given to the country about them

KEY STAKEHOLDERS
Internal: * Business heads and in Country and in Region / Group
* Members of Country / Regional Leadership Team
* Control function heads in Country and in Region / Group
* Business Operational Risk Managers (BORMs) and Unit Operational Risk Managers (UORMs)
* Other 2nd line operational risk owners (ROs)
* Group Internal Audit
External: * Regulators and Central Banks in Country
* External auditors
OTHER RESPONSIBILITIES
* Embed Here for good and Group's brand and values in Country
* Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures
KNOWLEDGE AND SKILLS
Business Strategy and Model
* Business / function experience

Risk Management and Control
* Operational risk management experience and knowledge of the Bank's policies and procedures. A clear understanding of the Bank's approach to operational risk management, or equivalent experience gained in other organizations

Non-technical Skills
* Ability to leverage resources across the organization to complete deliverables; sound judgment and courage necessary to perform a control role and maintain effective working relationship

This Job Description should be read in conjunction with the relevant terms of reference, the Group's Governance Manual which sets out responsibilities for establishing, maintaining and implementing the Group's high level systems and controls, the Bank's policies and procedures, and the jobholder's contract of employment. The jobholder acknowledges that he / she has understood and will abide by the responsibilities set out in the Governance Manual as well as ensure compliance with Group Code of Conduct, and the FCA/PRA's Statements of Principle and Code of Practice for Approved Persons

Key Roles and Responsibilities

Enter roles and responsibilities

Qualifications and Skills

Enter qualifications and skills

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.