Country Senior Operational Risk Officer : Standard Chartered Bank
About Standard Chartered
We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.
To us, good performance is about much more than turning a profit. It’s about showing how you embody our valued behaviours – do the right thing, better together and never settle – as well as our brand promise, Here for good.
We’re committed to promoting equality in the workplace and creating an inclusive and flexible culture – one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.
Duties And Responsibilities
The Role Responsibilities
Align the in country operational risk management approach to the Operational Type Framework and the Enterprise Risk Management Framework and oversee its effective application.
Ensure that the Business Heads and Function Heads and relevant staff understand and accept their operational risk management responsibilities.
Represent Operational Risk in the Non-Financial Risk Committee and Functions Non-Financial Risk Forums in the country.
Support training initiatives from Group OR, wherever required, and when time permits, to Functions and Business BORMs and UORMs.
Periodically assess the Country operational risk profile to maintain alignment with the Country risk appetite.
Review and challenge Country strategy where this is not aligned with the Country risk appetite;
Maintain operational risk capability and a control environment which is in line with the operational risk
Risk Control Ownership of operational risk
Provide a central contact point and oversight over all controls required to effectively manage operational risk within the Country that arises from the end to end processes.
Challenge the completeness of risk identification, monitoring and assessment of the corresponding control activities required within the end to end processes to identify and follow through the remediation by the 1st line of any significant deficiencies.
Ensure compliance with Operational Risk Policy & Standards.
Where the country 1st line redesigns controls in response to internal and external factors validate such redesign and ensure global sign off on the redesign prior to implementation in country.
Risk identification and Assessment
Validate and challenge the first line risk identification and assessment of gross and residual risks arising within the end to end processes.
Assess the control environment including, but not limited to, control design, control execution, control testing and control history.
Recommend changes to the control environment or to business practice where necessary to reduce the level of operational risk exposure to within the agreed appetite. Ensure such changes are agreed with global Process Owners and global OR Officer for that function prior to in country implementation.
Review the design of effective process controls by the 1st line to manage all material risks linked to the process control failure.
Identify Local Control Gaps – Regularly assess all key controls against the country risk profile to monitor exceptions and identify gaps.
Optimise portfolio of local controls – Regularly assess existing Local Key Control Standards, key risk indicators (KRIs) and key control indicators (KCIs) to ensure cost effectiveness, efficiency and relevance.
Provide a balanced and informed assessment of all operational risks arising from acquisitions or major change initiatives or projects within the Country.
Review and approve risk record templates for acceptance of medium, high and very high-country level risks.
Accept the classification and accurate reporting of operational risk events and the appropriateness of mitigation actions.
Challenge relevant Business / Functions’ activities where risks are not aligned with control requirements or risk appetite.
Sign off on new products on behalf of Operational Risk through the Country Addenda process.
Ascertain and confirm that Country risk registers, KRIs, KCIs, and control sample testing are effectively implemented.
Periodically review operational risk assessments to ensure these appropriately reflect changes in environment, mitigating controls and the progress of treatment plans.
Systematically monitor process control effectiveness where there are material risks of process control failure.
Work with local Business and Functions representatives to receive control and risk metrics in order to monitor KRIs and KCIs.
Review and update annual key control testing plans.
Risk & Loss Reporting
Ensure that risks requiring acceptance as escalated as per the Operational Risk Policy and Standards.
Approve the classification and accurate reporting of operational risk losses.
Report and escalate material operational risk events.
Deliver Root Cause Analysis reports for relevant events
Provide risk information/updates to Non-Financial Risk Committee (NFRC)/ Executive Risk Committee as appropriate.
Conduct, at least annually and with guidance from Group specialists, a stress test and scenario programme for operational risk [as part of ICAAP], review the results and assess their implications.
Root Cause Report
Ensure that operational losses, near misses and audit fails are escalated to Group Functions in a timely fashion within the 1st line & Group OR.
Support the preparation and ensure the delivery of RCA for material operational risk events as per policy and standards requirements.
Strategy & Planning
Inform the development of country business plans, exercising appropriate focus on the implementation of robust operating environments, within risk appetite, to support business aspirations.
Regulatory & Business Conduct
Display exemplary conduct and live by the Group’s Values and Code of Conduct.
Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
Lead the country operational risk team to achieve the outcomes set out in the Bank’s Conduct Principles
Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Country Business Heads
Country Function Heads
Group Operational Risk
Group Internal Audit
External Auditors and Regulators
Qualifications And Experience
Our Ideal Candidate
Bachelor’s degree in Business Administration, Banking or Finance from a recognized University;
A professional qualification or certification in risk management is an advantage;
Proficiency in Microsoft Office programs including Word, PowerPoint, Excel, Outlook and other risk management system skills
Apply now to join the Bank for those with big career ambitions.
To view information on our benefits including our flexible working please visit our career pages. We welcome conversations on flexible working
How To Apply