Senior Operational Risk Officer - Retail Product, Digital & Segments

  • Negotiable
  • Singapore
  • Permanent, Full time
  • Standard Chartered Bank
  • 18 Sep 16

Please view Job Description for details.

* 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 Risk Management Framework is effectively embedded in Operational Risk policies and procedures and governance process and that these are communicated across the Group.
* 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 second line ownership for Operational Risk in the area of AML Sanctions and processing failure.

Key Roles and Responsibilities

Strategy
* Ensure implementation of the Operational Risk Framework across all markets for critical processes and risks related to Retail Banking.
* Participate in the expanded implementation of the Operational Risk Framework for Retail Banking across all critical processes and risks in Retail Banking.
* Develop and implement tools and reports to monitor risks arising from risk assessment as part of ORF implementation and report to all relevant committees.
Processes in Operational Risk
* Supervise all processes where a member of the Operational Risk function is the identified first line process owner.
* 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.
* Interact with Process Owners, Risk Owners, Operational Risk owners and other Operational Risk Team members from countries, regions to ensure timely identification, assessment, monitoring and reporting of risks.

Risk Management
Risk Governance
* Align the Group's operational risk management approach to the Risk Management Framework and oversee its effective application in Retail Banking.
* Ensure business heads, first line process owners and all Operational Risk Owners understand and accept their risk management responsibilities.
* Maintain an open and cooperative relationship in dealing with external and internal stake holders.
Risk Appetite
* 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.
* Ensure that effective management response plans are in place to respond to extreme but plausible scenarios.
* 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 that come to the attention of Head, Operational Risk, Retail Banking.
* Provide balanced and informed assessments of operational risks arising from new products and/or major change initiatives.

Operational Risk Framework ("ORF") Programme
* Implement the ORF 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.

Risk Ownership of Operational Risk
* 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.
* 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 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 risks/events in line with policy.

Key Stakeholders
Internal:
* Chief Operating Officer, Retail Products, Segments and Digital
* Global Head, Retail Products, Segments and Digital
* Head of Digital Banking
* Head of Retail Products (Deposit, Cards, Lending etc.,)
* Global Head, Retail Analytics
* Global Head, Retail Segments
* Head, Operational Risk Framework, Process and Infrastructure
* Head, Operational Risk, Functions
* Head, Operational Risk Private Bank and Wealth Management
* Head, L&C, Retail Banking
* Head, FCC, Retail Banking
* CIO, Retail Bank
* Head of Security Risk, Retail Bank
External:
* Prudential Regulatory Authority (PRA) and other key regulators
* The Group's external auditors

Qualifications and Skills

Market Knowledge: Significant Retail Banking and Operational Risk experience 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 role of Head, Operational Risk Retail Banking.
Non-technical Skills: Significant relationship management experience - with external and internal stakeholders.

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.