Responsible Person (RP) , CTMU Risk

  • Negotiable
  • Newark, NJ, USA Newark NJ US
  • Permanent, Full time
  • Standard Chartered Bank
  • 17 Jun 18 2018-06-17

The role represents the business and supports the Operational Risk function to implement the operational risk aspects of the Bank's Risk Management Framework, Group Operational Risk strategy and associated operational risk procedures to ensure that operational risk is effectively managed at the business unit level. The role must focus on CTMU governance and supervision

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We are looking for Responsible Person, CTMU, Americas, CTMU Risk and Control.

The role represents the business and supports the Operational Risk function to implement the operational risk aspects of the Bank's Risk Management Framework,

 Implement the Operational Risk Framework (ORF) in country, and ensures that all aspects of the Wholesale Bank Operational Risk (WB OR) toolkits are completed on time and relevant stakeholders regularly kept apprised.

 Proactively identify control weaknesses and ensure proper functioning of day-to-day controls and timely resolution of risks/events. Concurrently, implement controls within the Business Unit to meet all key regulatory and internal policy requirements. This activity will be undertaken in conjunction with in-country CTMU Heads, BAU teams within (i.e. CTMU Physicals and Trade) and UORM.

 Help develop and cultivate operational risk culture by ensuring compliance with operational risk governance procedures and policies and by delivering training.

 Coordinate, drive and direct effective compliance and operational risk management at the Business/Unit level in order to achieve favourable audit outcomes.

 Manage and resolve any operational issues and ensure that any changes to controls or procedures are implemented to reduce risk incidents.

Risk Management

Risk Identification, assessment and Acceptance

 Responsible for ensuring the timely identification, assessment, mitigation, reporting and escalation of all identified Operational Risk exposures.

 Assist in the identification of new business and regulatory risks and the implementation of appropriate controls to mitigate those risks.

 Ensure RAT (Risk Acceptance Template) completed for any identified new risks, control failures and passed to SORO for approval before submission to Risk Committees.

 Assist relevant stakeholders (within the business and cross-functional) in the management and implementation of the Risk Management Framework and other relevant OR-related initiatives, including ensuring proper functioning of embedded and periodic controls.

 Responsible for the implementation and execution of the Control Sample Testing (CST)/KCSA process, sampling and testing the population of controls to ensure compliance with the agreed control standards.

Control Effectiveness

 Ensure risks and issues identified are resolved in an appropriate and timely manner.

 With the process owner ensure sign off on all new and amendments to existing CST's and that same are tabled at the relevant Risk Committees.

 Assist Group CTMU to develop and execute daily key control check and produce Risk MIS reporting for key stakeholders.

 Develop effective risk monitoring mechanisms (eg. Key Risk Indicators), including ones rolled down from group

 Act as Group coordinator for various internal/external audits/reviews and liaise with various stakeholders to ensure timely and accurate information is provided.

 Work with Country Head CTMU to provide training where control lapses occur due to personnel errors.

Incident investigation, reporting and escalation

 Responsible for oversight of accurate, complete and timely event reporting by capturing risk events (losses and near misses) in CAR and Phoenix.

 Escalate significant operational risk events (SORE) in accordance with OR procedures. Investigate and report root causes of events for incidents below the SOROs level of delegated authority.

 With the Unit Head ensure a RCA (Root Cause Analysis) is completed for any audit fail and identify weaknesses in critical processes/significant losses/near misses (as per ORMF Guidelines)

 Perform reconciliation on a monthly basis and annual basis on all Phoenix operational losses versus GL entries to ensure that all losses/recovers are correct and/or accounted for on both database and the Bank's books and records

 Perform independent reviews of CAR/Phoenix items; provide MIS and trackers of incidents and issues that arise within CTMU.

Leadership Capability

 To be the source of reference within the unit in facilitating/promoting the understanding of Operational Risk and compliance/regulatory requirements.

 Facilitate development of training material on Operational Risk policies relevant to the business.

 Identify knowledge gaps and arrange appropriate and relevant training on Operational Risk.

 Ensure timely communication of new/revised external regulations and internal policies.

 Ensure adherence to globally consistent practices in CTMU for managing the risks within the business.


 Participate and attend FM and Trade FORUMS as required as UORM backup

QUALIFICATIONS: Training, licenses, memberships and certifications

 2- 4 years' Operational risk / Control assurance Banking experience or equivalent field knowledge gained in other organizations.

 Knowledge of Commodities Transaction Management Unit products

 Relevant business/function experience, including experience within business/function operations

 The sound judgement and courage necessary to perform a control role and maintain effective working relationships

 Must be self-motivated

 Strong attention to detail

 Strong analytical, communication, and organizational skills

 Ability to function well independently as well as in a team

 Proficient with tools such as Power Point, Microsoft MS Word, and Excel