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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.
To ensure that operational risks are properly assessed; that processes, roles and responsibilities are clearly understood; that all risk / return and control cost / benefit decisions are made transparently on the basis of a complete and proper assessment, and all controls are implemented in accordance with the Group's standards and in line with the Risk Appetite.
To ensure Operational Risk Framework and all associated policies and procedures and the Risk Management Framework are effectively embedded and communicated in country to Businesses and Functions.
To be the central point of contact for operational risks within the Country arising within the processes, including being responsible for the evaluation of the design and operational effectiveness of all controls. To ensure risks of processing failure are being actively managed and monitored on an end-to-end basis in Country; including providing regular control assessments of required controls and escalation in instances .
The Role Responsibilities
Align the in country operational risk management approach to the Operational Risk Framework and the 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 Country Operational Risk Committee and Functions Operational Risk Forums in the country.
Support training initiatives from Group OR, wherever required, and when time permits, to Functions and Business 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 & procedures.
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 policy for Operational Risk Assessment and Acceptance
Approve the classification and accurate reporting of operational risk losses.
Report and escalate significant operational risk events (SORE).
Deliver Root Cause Analysis reports for relevant events
Provide risk information/updates to Country Operational Risk Committee (CORC)/ Country 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 1 st line & Group OR
Support the preparation
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.
Our Ideal Candidate
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 leverage resources across the organisation to complete deliverables.
Sound judgement and courage necessary to perform a control role and maintain effective working relationships.
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 .