- Permanent, Full time
- Standard Chartered Bank Singapore
- 14 Sep 17
Analyst, Control,Process & Governance
- Location: Singapore
- Salary: Negotiable
- Job Type: Full time
Please view Job Description for details.Job Title: Control Analyst
Job Function: Retail Operations
The Control Analyst (RP) is responsible for working with the Operational Risk Manager to effectively manage operational risk by ensuring business management implements and maintains operational risk controls in accordance with Risk Management Framework, Group Operational Risk Policies and Procedures. The Control Analyst places emphasis on:
1. Implementing 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.
2. To assist Operational Risk Manager in adhering to the periodic self-assessment on key controls to assess the proper functioning and adequacy of existing controls.
3. To report OR issues, exceptions and losses to Operational Risk Manager and undertake preparation and submission of the operational risk and losses issues via the Phoenix System within 15 days from the date of discovery for review by the management team.
4. To report all weakness inherent in the control standards, review and track the rectification of the exceptions reported in the self-assessment KCSA report
5. Influencing the development of an operational risk culture which is forward looking, risk based and customer focus
1. Delegated authority to identify and report all exceptions on non-compliance and weakness inherent in the standard controls.
2. Delegated authority to challenge assessment and treatment of business activities where operational risk exposure is not managed within risk appetite or within minimum control standards
3. Delegated authority to have access rights to business information, documents, transaction records and customer data for risk assessment and measurement
Key Roles and Responsibilities
1. Ensuring business risk/return and control cost/benefit decisions are made transparently and based on assessment in accordance with Group standards and Board's Risk Appetite
1.1. To report OR issues and losses to Operational Risk Officer through use of the Operational Risk Assessment Matrix
1.2. To maintain independence in the conduct of KCSA and report OR issues, exceptions and losses to Operational Risk Officer and undertake preparation and submission of the operational risk and losses issues via the Phoenix System
1.3. Identify and report all exceptions on non-compliance and weakness inherent in the standard controls via regularly assess existing business key controls to ensure the level of controls remains cost effective, efficient and relevant
1.4. Drive and implement an effective risk management framework to ensure adequate controls in Islamic Banking business are in place in the leveraged business units to meet regulatory and internal requirements for operational and other risks.
2. Implementing 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
2.1. Risk Identification - The risk identification, measurement and management process should be operating as part of BAU with regular update of Risk Profiles and reporting of exposures for acceptance at the appropriate governance level. Gross Operational risk exposures are identified and assessed by the PGCs and documented in the Risk Profiles. At the country level, Control Analyst works with first line units to perform risk identification which must be end-to-end, comprehensive and utilizing reactive and proactive source of information. Risk identification must be performed in country addenda, significant projects, mergers and acquisition, internal and external incidents, and regulatory changes.
2.2. Risk Assessment and Measurement - Risk assessment must be performed on a consistent basis, reflecting the scope and complexity of the operation. At the country level, Control Analyst works with first line business / function to assess Gross risk exposures in accordance with the Operational risk assessment process. Gross risk exposures are assessed and mitigated to acceptable levels via design and implementation of effective process controls end-to-end.
2.3. Risk Acceptance - Risk must be accepted at the appropriate level depending on the source of identification and residual risk and as per the delegated authority matrix. At the country level, Control Analyst will follow through the acceptance process to ensure risk acceptance at business unit level is complied with Group's Delegated Authority Matrix
2.4. Risk Monitoring - Operational risk assessments and acceptance must be reviewed periodically to appropriately reflect changes in environment and the progress of the mitigation plans. At the country level, Control Analyst must establish operational risk management reporting and intelligence information for ensuring that adequate and credible information is provided to appropriate levels of management, so that there is timely oversight, understanding and acceptance of risk exposures at the right organization level, for risk management purposes. This helps ensure that senior management at a country level have a good, accurate and informed understanding of the business unit's operational risk profile at the key operating levels. The systematic monitoring of process control effectiveness is achieved through the implementation and monitoring of key control indicators (e.g. KRI, KCI) and independent sample testing of controls (e.g. KCSA).
2.5. Risk & Loss Reporting - There is regular reporting on significant OR exposures, issues and results of independent reviews on the effectiveness of and compliance with established OR framework to the OR governance committees, including the Board, or its delegate. Significant OR exposures and loss experience, together with proposed action plans are regularly reported to senior management and OR governance committees. At the country level, Control Analyst must capture gross and residual risk exposures identified and OR loss promptly and accurately in Phoenix in accordance with Group's Operational Risk Policies and Procedures.
3. Influencing the development of an operational risk culture which is forward looking, risk based and customer focus
3.1. Operational Risk Management Policies & Procedures - Implement OR policies and procedures, develop remediation plans, monitor OR policy compliance and propose deviation from OR policies and procedures
3.2. People and Skills - Ensure completion of mandatory e-Learning by the business
1. Country Head of Retail Operations
* Maintain regular dialogue on business unit specific risks and issues in the country.
* Country Head of Retail Operations provides leadership and guidance to Control Analyst on business specific risk and issue.
2. [Country / Group] Internal Audit Team
* Maintain regular dialogue to both ensure Assurance work is carried out with a consideration of relevant business unit specific risks and issues and GIA fully consider core OR tools and techniques in performing their core audit work.
3. External Auditors and Regulators
* Maintain a strong partnership with external auditors and regulators to facilitate effective external reviews
The performance of the Business Control Analyst will be measured by:
* No overdue KCSA and exceptions reported are followed through until closure.
* Non-compliance and control weaknesses inherent in the selected control sampling testing (CST) are detected and duly reported.
* The business is proactively managing risk with the use of risk register and risk management process of: risk identification, assessment and measurement, acceptance and monitoring
* The business is using risk management tools and techniques for ensuring effective governance over risk management activities
* No unsatisfactory compliance reviews and audits on the conduct of the KCSA and record keeping
* The business control environment is effective in:
* Reducing gross operational risk exposure to acceptable levels within the risk appetite
* Favourable external, internal and regulator audit results are achieved
Qualifications and Skills
Qualifications And Experience:
- Relevant business/function experience
- * Operational risk management experience
- * A clear understanding of the Bank's approach to the management of operational risk, or equivalent experience gained in other organisations
- * Ability to work in a matrix organisation, leveraging resources across the organisation to complete deliverables
- * The sound judgement and courage necessary to perform a risk and control role and maintain effective working relationships
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.
The closing date for applications is 31/10/2017. 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.