Senior Manager, IFRS 9 ECL Governance

  • SGD175000 - SGD200000.0 per annum
  • Singapore Singapore Singapore SG
  • Permanent, Full time
  • Standard Chartered Bank Singapore
  • 16 Jul 18 2018-07-16

IFRS 9, effective for annual periods beginning 1 January 2018 will drive Expected Credit Loss ("ECL") computation that is necessary for the impairment reporting of assets classified as amortised cost and fair value through other comprehensive income. The IFRS 9 ECL team has been created to support the BAU activities for impairment computation in relation to ECL.

The purpose of the role is to lead the management of data quality governance, operational risk, and assurance activities in the ECL team.

KEY RESPONSIBILITIES

The following are key responsibilities linked to the Senior Manager, IFRS 9 ECL Governance, Assurance & Operational Risk

§ Develop and implement Data Quality Governance for IFRS 9 ECL team according to the Bank's Data Quality Management Framework ("DQMF") via the IFRS 9 ECL DQ Forum

§ Oversee and coordinate the review and submission of metadata templates and Data SLA required under the DQMF.

§ Design, develop and implement an Operational Risk ("OR") strategy and framework for IFRS 9 ECL team activities.

§ Perform risk analysis and risk identification of all processes conducted in the IFRS 9 ECL team according to guidelines under the Operational Risk Framework.

§ Define new controls and key control indicators of relevant processes and remedial actions in case of ineffectiveness of existing controls.

§ Perform operational risk monitoring through the ongoing control sample testing and escalate breaches accordingly to relevant committees or delegated forums.

§ Coordinate the ongoing periodic review of the assumptions utilised in the IFRS 9 ECL calculation including those that originated in the Technical Policy Panel.

§ Provide support to Impairment committees and relevant meetings coordinating agenda, presentation packs and preparation of minutes.

§ Provide oversight to the IFRS 9 Expert Panel secretariat activities and ensure appropriate escalation for IFRS 9 Impairment Committee.

§ Coordinate with Committee secretariats to ensure that all committee papers and presentation decks are prepared for submission.

§ Track committee action items that have been assigned to the ECL Team from the various committees and forums and bring them to resolution.

§ Oversee and coordinate submission of documents to both Group Internal Audit and External Auditors (KPMG) and to ensure all action plans to address audit issues raised to IFRS 9 ECL team are closed on a timely basis.

§ Perform maintenance and changes of policies and documentation relating to ECL

EXPERIENCE / KNOWLEDGE REQUIRED

§ Strong understanding of IFRS 9 standards driving Expected Credit loss computational activities and impairment measurement in Financial Reporting

§ Understanding of Data Quality Management Framework in SCB.

§ Strong theoretical and practical knowledge of Operational risk - practical experience in applying and managing an OR framework in financial services

§ Experience/ understanding of process mapping, governance activities, writing of policies and committee management in a Risk function of a financial institution

§ Educated in a numerate degree or financially based subject

§ Focused and organised, with ability to prioritise and deliver effectively under strict timelines

§ Strong inter-personal and communication skills to work effectively with stakeholders from different functions; comfortable in building relationships at various levels and across geographies

§ Self-motivated person with a high level of drive, dedication and desire to excel consistently

§ Understanding of SAS tools and EDM is considered favourably