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.
The Role Responsibilities
The incumbent is responsible for the validation of all non-financial risk & other models used across the bank (including models being used for quantifying, measuring and monitoring of FCC, Compliance, Fraud, Reputational Risk, HR and OpRisk).
The role holder is required to lead a team of quantitative specialists and actively engage with the business, regulators, industry and external vendors in setting up the management and control framework for our internal models validation in line with banks strategy and aspirations.
This role will be part of the second line of defence in model risk management for the models covered within its remit.
The role is responsible to lead a model validation team with the following strategic priorities:
- Deliver on regulatory and business priorities through effective model validation activities
- Provide strategic direction for the validation function including efficiency and software platforms
Core responsibilities
- Lead a team of quantitative specialists to perform as a 'best in class' model validation function with the skills and expertise to deal with and challenge technical areas across a range of business lines and products
- Communicate validation findings / issues to relevant model assessment committees and escalate major issues to senior management in a timely manner
- Spot opportunities to improve synergies and integrating stress testing, model risk management and business model viability across the Group
- Provide the holistic view of different regulatory processes which would benefit the overall management of model risk and mode use
- Ensure appropriate model validation approach from a risk perspective, in relation to FCC, Compliance and other models. The approach should be appropriate at different level including geographies and business units
- Contribute to the development of performance management and remuneration processes, in order to encourage the development of an appropriate risk culture and discipline.
- Building a culture of good conduct in the Model Validation function.
- Support the Head of Model Risk & Validation who acts as the Risk Framework Owner for: Country risk; Reputational risk; and Operational risk (model risk sub-type) for credit and market risk models, responsible for:
- Setting (or proposing) the risk-type framework, risk appetite, policies and control standards;
- Making decisions within delegated authorities and maintaining necessary expertise to manage such risks;
- Establishing effective assurance and reporting mechanisms; and
- Design and effectiveness of the risk controls, monitoring of compliance to the Board approved risk appetite and effectiveness of risk controls; and escalate material exceptions to appropriate management and risk committees.
Business
- Advise work streams/business teams on areas of improvement and enhance the quality and credibility of internal and external/regulatory submissions (where applicable)
- Communicate the strategic intent and collective agenda for the model validation team
- Consult and assist the business functions to ensure model risk management remains fit for purpose.
- Maintain and develop the team's risk capabilities, and skills to meet ongoing needs and plans
Governance
- Submit reports and findings to relevant model assessment committees
- Actively participate in key committees through standing membership
- Ensure effective Operational Risk assessment and controls over processes - obtain approval from Group Operational Risk where required
- Ensure good quality and timely submission of the model validation papers to model assessment committees
Processes
- Operational risk oversight of processes owned by relevant model validation team
- Continuously improve the operational efficiency and effectiveness of the team's processes
- Ensure effective management of the operational risks within the function and compliance with applicable internal policies, and external laws and regulations.
- Manage the development and maintenance of work programmes which reflect the current business organisation, operating environment and resource capacity
- Provide the team with direction to meet key objectives, guidance where issues require additional expert advice and manage the team's working environment
- Identify and escalate significant issues and ensure these issues are appropriately tracked and followed up
- Lead and continuously improve the model validation activity, ensuring compliance with the Group's policies, standards, existing and emerging regulatory requirements
People and Talent
- Employ, engage and retain high quality people
- Build good and productive working environment
- Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives
- Uphold and reinforce the independence of the model validation team from those whose primary responsibility is to maximise short-term revenues and profits
- Ensure the provision of ongoing training and development of the staff, and ensure that holders of all critical functions are suitably skilled and qualified for their roles
- Lead through example and build the appropriate culture and values within the team and across the wider organisation
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 team to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Effective Operation of Financial Markets; Financial Crime Prevention; The Right Environment.
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key Stakeholders
Internal:
- FCC function
- Operational Risk function
- Pension Risk function
- Members of Credit Model Assessment Committees
- Members of Group Risk Committee
- Enterprise Risk Analytics
- Global, Regional and Country business heads, CEOs, COOs
- Group Head, Internal Audit
- Head, Internal Audit - Functions
External:
- Prudential Regulation Authority (PRA) and other key regulators
- The Group's external auditors
Other Responsibilities
- Embed Here for good and Group's brand and values in Group Country Risk
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
Our Ideal Candidate
- Academic or Professional Education/Qualifications in statistic, mathematics, operations research, computer science or other related quantitative discipline
- Substantial experience in model risk management covering different model types including non-financial risk model used for FCC process, fraud detection, Operational Risk and AI process
- Solid understanding of the development, validation and use of scorecards and rating models
- Good understanding of model life cycle management
- Good people skill and strong team management experience
- Significant relationship management experience - with external stakeholders at the most senior levels, including regulators and rating agencies.
- Business proficiency (Verbal and Written)
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 . |
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