BUSINESS OPERATIONAL RISK MANAGER POSITION DESCRIPTION:
Industries
Banking, Finance
Description
The Business Operational Risk Manager (BORM) represents the Transactional Banking (TB), (where applicable) and Financial Markets (FM) Products, as well as International Corporates, Financial Institutions (IC&FI), and Commercial Clients (CC) Segment as a first line of risk management, implements the Standard Chartered Operational Risk Framework (ORF), and supports the Group's Operational Risk policy and associated operational risk procedures to ensure that operational risk is effectively managed at the business unit level. The Business Operational Risk Manager must focus on IC&FI controls, governance and supervision at all times, and:
Ensure that all material operational risks are identified, assessed, mitigated, monitored and reported to relevant governance forums
Assist in Managing the Country Business Operational Risk Forum (BORF)/CORC/ERC in the country. Ensure absolute adherence to country BAU OR deadlines and effective business escalation from BORF to the Country Operational Risk Committee (CORC), Process Governance Committee, and Group Business Risk Committee (GBRC)
Participate in peer reviews ; this may involve travel to other markets to conduct such reviews and share best practice
Develop control enhancements to ensure that any known risks are controlled within acceptable boundaries and consistent standards.
Challenge/question business strategy with operational risk appetite and seek to optimise the business' risk-return profile.
Mentor 1st line staff across all relevant products/segments on business controls, governance and supervision
Be the go-to person for the business, for all operational risk related incidents/queries/events that arise, and become a business 'Front to Back' subject matter expert in all products offered by SCB in a market
Coordinate with stakeholders in the country and with other Business Operational Risk Managers to increase transparency and share key lessons and best practice
Ensure compliance with policies applicable to TB/CC/FM Products as well as IC&FI Segment which impact operational risk. Challenge processes, procedures and policy if there is a better way to do things
Escalate issues, blockages, challenges and trends to the COO and Product/Segment Head when required
Speak Out about emerging risks or Known-Unknowns and try and change the way things are done - making BAU (your job) easier
Focus on Regulations, regulatory compliance and associated operational risks
Network extensively, and drive change / improvements
Key Roles and Responsibilities
Risk Identification and Control Effectiveness
Responsible for the timely identification, assessment, mitigation, reporting and escalation of all identified Operational Risk exposures. Assist in identification of operational risk for new products and new business, regulatory and thematic risks and implementation of appropriate controls to mitigate those risks.
Liaise with TB/CC/FM Products as well as IC&FI Segment staff as required to ensure that Risk Acceptance Templates (RATs) are completed for material risks or control failures identified and passed to Senior Operational Risk Officer (SORO) for approval before submission to BORF, for subsequent support and acceptance in the CORC/PGC or GBRC.
Be an informer: Identify new business and regulatory risks, perform risk assessment and measurement, facilitate the implementation of appropriate controls to accept risks, and perform risk monitoring.
Assist relevant stakeholders within the business and across functions in the management and implementation of the ORF and other relevant OR-related initiatives, including ensuring proper functioning of embedded and periodic controls.
Be Responsible for the implementation and execution of the Control Sample Testing (CST) process, sampling and testing the population of controls to ensure compliance with agreed control standards and facilitating the monitoring/collection of any Key Risk Indicators (KRIs). With the process owner ensure sign off on all new and amendments to existing CST's and that same are tabled at BORF and other governance forums.
Responsible for recording and maintaining risks in the risk tracking system (Phoenix). Responsible for ensuring the quality of information being recorded as well as ensuring data accuracy, completeness and timely resolution.Drive improvement in OR processes (through process improvement initiatives).
Loss Reporting and Investigation
Support the business in minimizing operational risks and losses, and ensure material operational losses are investigated to prevent recurrence per group policy.
Responsible for recording operational errors that occur within business that result in financial losses, gains, near misses, reputational damage or danger to people or our reputation. Ensure that significant operational losses are escalated with appropriate root cause analysis completed.
Perform reconciliation on a monthly basis on all Phoenix operational losses versus GL entries to ensure that all losses/recoveries are correct and/or accounted for on both sources and the Bank's books and records.
Leadership Capability
To be the source of reference within the business in facilitating/promoting the understanding of Operational Risk and compliance/regulatory requirements.
Identify knowledge gaps, facilitate development of training material, and arrange relevant business training on Operational Risk.
Coordinate and lead the identification, presentation and resolution of IC&FI risk issues through local business risk forums (BORF/ CORC) to ensure there is adequate governance and oversight of IC&FI risk.
Audits and Reviews
With the Senior Operational Risk Officer, ensure a RCA (Root Cause Analysis) is completed for any audit fail. Contribute towards achieving no fail results on all audits and reviews undertaken by Group Internal Audit, Country Audit, regulators and external auditors.
Review findings/key themes; assist business to achieve resolution in line with business risk appetite.
Conduct periodic reviews on Operational Risk controls; periodically review TB, CC, (where applicable) as well as IC&FI Segment Front Office Self-Assurance Framework (FOSAF), and follow-up with the business for timely closure of any identified risks/issues.
Act as coordinator for various internal/external audits/reviews and liaise with various stakeholders to ensure timely and accurate information is provided.
Participate in periodic peer reviews subject to business need to ensure consistency of risk management approach and support the business by embedding best practice.
Responsible for tracking actions against audits and internal reviews and reporting the status of these actions periodically to the appropriate governance forums.
Responsible for tracking the issues raised from business-specific reviews and follow-through to resolution.
External Focus
In tandem with the SORO/Country Compliance/Business, review new/revised regulations and implement new control measures and/or develop relevant and risk-based self-assessment checks for implementation in the business.
Coordinate business continuity plans and ensure timely update and team awareness
Qualifications and Skills
Bachelor's degree or equivalent
3 years experience in Risk management
Knowledge of IC&FI, FM, CC, TB products
Relevant business/function experience in operations, business analysis or project management
Clear understanding of the Bank's Operational Risk Framework or equivalent experience gained in other organizations
Sound judgment with critical thinking skills and courage necessary to perform a control role and maintain effective working relationships
Strong analytical skills, detail-focused with the ability to interpret large amounts of information
Problem solving skills with ability to influence at all levels of the business
Ability to work independently with minimum supervision
APPLICATION INSTRUCTIONS:
Online application, click HERE to Apply
Industries
Banking, Finance
Description
The Business Operational Risk Manager (BORM) represents the Transactional Banking (TB), (where applicable) and Financial Markets (FM) Products, as well as International Corporates, Financial Institutions (IC&FI), and Commercial Clients (CC) Segment as a first line of risk management, implements the Standard Chartered Operational Risk Framework (ORF), and supports the Group's Operational Risk policy and associated operational risk procedures to ensure that operational risk is effectively managed at the business unit level. The Business Operational Risk Manager must focus on IC&FI controls, governance and supervision at all times, and:
Ensure that all material operational risks are identified, assessed, mitigated, monitored and reported to relevant governance forums
Assist in Managing the Country Business Operational Risk Forum (BORF)/CORC/ERC in the country. Ensure absolute adherence to country BAU OR deadlines and effective business escalation from BORF to the Country Operational Risk Committee (CORC), Process Governance Committee, and Group Business Risk Committee (GBRC)
Participate in peer reviews ; this may involve travel to other markets to conduct such reviews and share best practice
Develop control enhancements to ensure that any known risks are controlled within acceptable boundaries and consistent standards.
Challenge/question business strategy with operational risk appetite and seek to optimise the business' risk-return profile.
Mentor 1st line staff across all relevant products/segments on business controls, governance and supervision
Be the go-to person for the business, for all operational risk related incidents/queries/events that arise, and become a business 'Front to Back' subject matter expert in all products offered by SCB in a market
Coordinate with stakeholders in the country and with other Business Operational Risk Managers to increase transparency and share key lessons and best practice
Ensure compliance with policies applicable to TB/CC/FM Products as well as IC&FI Segment which impact operational risk. Challenge processes, procedures and policy if there is a better way to do things
Escalate issues, blockages, challenges and trends to the COO and Product/Segment Head when required
Speak Out about emerging risks or Known-Unknowns and try and change the way things are done - making BAU (your job) easier
Focus on Regulations, regulatory compliance and associated operational risks
Network extensively, and drive change / improvements
Key Roles and Responsibilities
Risk Identification and Control Effectiveness
Responsible for the timely identification, assessment, mitigation, reporting and escalation of all identified Operational Risk exposures. Assist in identification of operational risk for new products and new business, regulatory and thematic risks and implementation of appropriate controls to mitigate those risks.
Liaise with TB/CC/FM Products as well as IC&FI Segment staff as required to ensure that Risk Acceptance Templates (RATs) are completed for material risks or control failures identified and passed to Senior Operational Risk Officer (SORO) for approval before submission to BORF, for subsequent support and acceptance in the CORC/PGC or GBRC.
Be an informer: Identify new business and regulatory risks, perform risk assessment and measurement, facilitate the implementation of appropriate controls to accept risks, and perform risk monitoring.
Assist relevant stakeholders within the business and across functions in the management and implementation of the ORF and other relevant OR-related initiatives, including ensuring proper functioning of embedded and periodic controls.
Be Responsible for the implementation and execution of the Control Sample Testing (CST) process, sampling and testing the population of controls to ensure compliance with agreed control standards and facilitating the monitoring/collection of any Key Risk Indicators (KRIs). With the process owner ensure sign off on all new and amendments to existing CST's and that same are tabled at BORF and other governance forums.
Responsible for recording and maintaining risks in the risk tracking system (Phoenix). Responsible for ensuring the quality of information being recorded as well as ensuring data accuracy, completeness and timely resolution.Drive improvement in OR processes (through process improvement initiatives).
Loss Reporting and Investigation
Support the business in minimizing operational risks and losses, and ensure material operational losses are investigated to prevent recurrence per group policy.
Responsible for recording operational errors that occur within business that result in financial losses, gains, near misses, reputational damage or danger to people or our reputation. Ensure that significant operational losses are escalated with appropriate root cause analysis completed.
Perform reconciliation on a monthly basis on all Phoenix operational losses versus GL entries to ensure that all losses/recoveries are correct and/or accounted for on both sources and the Bank's books and records.
Leadership Capability
To be the source of reference within the business in facilitating/promoting the understanding of Operational Risk and compliance/regulatory requirements.
Identify knowledge gaps, facilitate development of training material, and arrange relevant business training on Operational Risk.
Coordinate and lead the identification, presentation and resolution of IC&FI risk issues through local business risk forums (BORF/ CORC) to ensure there is adequate governance and oversight of IC&FI risk.
Audits and Reviews
With the Senior Operational Risk Officer, ensure a RCA (Root Cause Analysis) is completed for any audit fail. Contribute towards achieving no fail results on all audits and reviews undertaken by Group Internal Audit, Country Audit, regulators and external auditors.
Review findings/key themes; assist business to achieve resolution in line with business risk appetite.
Conduct periodic reviews on Operational Risk controls; periodically review TB, CC, (where applicable) as well as IC&FI Segment Front Office Self-Assurance Framework (FOSAF), and follow-up with the business for timely closure of any identified risks/issues.
Act as coordinator for various internal/external audits/reviews and liaise with various stakeholders to ensure timely and accurate information is provided.
Participate in periodic peer reviews subject to business need to ensure consistency of risk management approach and support the business by embedding best practice.
Responsible for tracking actions against audits and internal reviews and reporting the status of these actions periodically to the appropriate governance forums.
Responsible for tracking the issues raised from business-specific reviews and follow-through to resolution.
External Focus
In tandem with the SORO/Country Compliance/Business, review new/revised regulations and implement new control measures and/or develop relevant and risk-based self-assessment checks for implementation in the business.
Coordinate business continuity plans and ensure timely update and team awareness
Qualifications and Skills
Bachelor's degree or equivalent
3 years experience in Risk management
Knowledge of IC&FI, FM, CC, TB products
Relevant business/function experience in operations, business analysis or project management
Clear understanding of the Bank's Operational Risk Framework or equivalent experience gained in other organizations
Sound judgment with critical thinking skills and courage necessary to perform a control role and maintain effective working relationships
Strong analytical skills, detail-focused with the ability to interpret large amounts of information
Problem solving skills with ability to influence at all levels of the business
Ability to work independently with minimum supervision
APPLICATION INSTRUCTIONS:
Online application, click HERE to Apply