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Description of the Business Line or Department
The Basel II Committee defines operational risk as: "The risk of loss resulting from inadequate or failed internal processes, people and systems or from external events."
The SG Kleinwort Hambros group Operational Risk department has dual reporting lines: * to the SG Kleinwort Hambros Group Head of SAFE; * within the SG Group Global Banking and Investor Services (GBIS) Global Business Services (GBS) Security and Anti-Fraud Expertise (SAFE) department to the Head of SAFE/PRI (Private Banking).
Working with other departments, the Operational Risk department is responsible for promoting a controlled operational risk environment, offering advice to departments on practices and processes to mitigate operational risks and ensuring all operational risk management information produced is analysed and escalated where appropriate to Senior Management and Head Office in Paris.
The mission of the Operational Risk 2nd Level Control team is to provide independent, objective and leading operational risk management challenge and oversight services to assist the firm in maintaining an effective system of controls to manage risk.
The Second level control team will be independent of the Operational risk team but will work with them closely to ensure key risks are understood and considered in defining the areas where controls needs to be assessed. The team will also work closely with Internal Audit on the same basis.
Summary of the key purposes of the role
The Group's internal control system is organized according to the principle of the three lines of defence:
1.1LOD consistent of the operational departments (Business Units and Support Functions) 2.2LOD includes RISK which undertakes independent operational risk activities 3.3LOD consisting of Internal Audit and General Inspection
The Second Level Controller role will support a key component of the group Operational Risk Framework: 2nd Level Control.
The primary purpose of the role is to:
1.Perform second level control on Business Unit and Support Function first level controls 2.Make recommendations to improve the quality of the first level control framework – assessing both design and execution of controls 3.Ensure the implementation of recommendations
Summary of responsibilities * Scope: Klienwort Hambros, all locations * Scope of functions: all business areas within KH * For in-scope entities and functions, analyze major risks and the control framework leveraging various components of the Operational Risk Framework. Based on this analysis, form an annual roadmap of intended 2nd Level Controls to be executed – discuss the roadmap with the risk supervisors of each function. * For each 2nd Level control contained on the roadmap, conduct an all encompassing review of its design and operating effectiveness. This must include a review of any pre-existing anomalies and associated Action Plans, as defined by the 1LOD. Provide a 2nd level control assessment rating. * Review, challenge / advise on the robustness of the 1st level controls, on a sample basis. * Consolidate and provide an independent risk assessment to functional risk supervisors of the results of the 2nd Level reviews, to include areas for improvement. Track and report progress on recommendations, anomalies and open Action Plans. * Consolidate and provide an independent risk assessment to GBIS senior management periodic results of the 2nd Level Control, to include assessment ratings, anomalies and associated Action Plans, and progress updates on all open anomalies and Action Plans. * Can be associated or take the lead on 2nd Level Control toolset training sessions
Level of Autonomy and Authority
Second Level Controllers are involved in analysing operational risk data versus the existing control framework, collectively assessing the design and operating effectiveness of the second level controls. The role encompasses decisions regarding assessment scope (with the assistance of management, as required) and engagement with functional risk supervisors. The Second Level Controller will take ownership of tracking 2nd Level Control coverage and results. The role holder will decide on improvement recommendations, track open anomalies and open Action Plans through to closure.
Business knowledge * Operational Risk Processes Knowledge
Preferable: * Underlying business knowledge and experience (Corporate and investment banking environment) * Knowledge and experience of market activities * Knowledge and experience in Operations or Product Control
Tools * Pack Office (Power Point, Word or Excel Expert)
Preferable: * Operational Risk Tools knowledge (SG or Industry) * Knowledge of tools used in the processing chain is a plus (SG or Industry)
Soft Skills * Strong analytical skills with high attention to details and accuracy * Excellent verbal, written, and interpersonal communication skills * Able to organize time, multitask, and define priorities (autonomy) * Able to interact with all levels of the organization from operators to executive management members
Preferable: * Ability to be flexible and agile (priorities may change and escalation need to be adapted) * Demonstrated ability to lead change through influencing skills, be a positive change agent