Standard Chartered Bank Job - 30373467 | CareerArc
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Company: Standard Chartered Bank
Location: Shanghai, Shanghai, China
Career Level: Mid-Senior Level
Industries: Banking, Insurance, Financial Services


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.
Job Purpose

Act as the main contact to coordinate with Regional Head of PROPERTY OR for all operational risk issues.

  • Implement robust processes and controls within PROPERTY to meet all regulatory and Group requirements.
  • Coordinating, driving and directing effective compliance by embedding an effective Operational Risk Management Framework (ORMF) within PROPERTY to ensure all areas manage operational risks in a proactive, risk based and disciplined manner.
  • To ensure the operational risk policies and procedures and the OR Management Framework is effectively embedded and communicated across the Region.
  • Assist PROPERTY in overseeing Operational Risk Management, Risk Control Areas, Safety & Security and Damage to Assets are being actively controlled from an end-to-end perspective through the PROPERTY Operational Risk Group.
  • Support PROPERTY to drive operational risk management disciplines that facilitate the balance of business growth with firm control of risk and protect the achievement of superior financial performance.
  • Ensure proper functioning of day-to-day controls, by performing periodic assessment and monitoring activities as well as timely identification, escalation and resolution of risk issues.
  • To uphold the integrity of the PROPERTY operational risk decisions within the region, and in particular for ensuring that operational risks are properly assessed, that risk/return and control cost/benefit decisions are made transparently on the basis of the proper assessment, and are controlled in accordance with the Groups standards and Risk Appetite.
The Role Responsibilities
Strategy, Planning, Communications and Training
  • Ensure audit readiness of operations at all times in country and hub.
  • Establish an annual control environment plan that ensures audit readiness.
  • Encourage the development of an appropriate risk culture and discipline in PROPERTY.
  • Coordinating training and disseminating information on operational risk management and compliance.
  • Ensure PROPERTY staff fully understand & accept risk management responsibilities & that first line staff are competent.
  • Support and provide guidance to Responsible Persons (RPs) to ensure integrity, quality and completeness in the execution of KCSAs and CSTs.
  • Ensure effective communication of policies and other control requirements.
  • Sharing knowledge of best practices and lessons learned.
Risk Control Ownership and Risk Governance
  • Challenge risk identification, monitoring and control activities within end to end processes and identify any significant gaps.
  • Aligned operational risk management approach across region and oversee effective implementation at a country level.
  • Ensure that PROPERTY Functional Operational Risks are monitored and reviewed regularly through a mechanism that operates effectively within authority limits and that the outcome of the agreed upon meeting controls and governs risks.
  • Provide regular reports to Group PROPERTY Head of OR for review at the Group PROPERTY Risk Committee.
  • Ensure residual risks are maintained within the risk appetite and the PROPERTY Risk register for country is understood and maintained by function heads.
  • Carry out second line audits and control reviews and reporting findings to management team.
  • Support implementation and understanding of OR Framework initiatives to the business and functional units.
  • Provide necessary information, data and other materials for reporting to the Country Operational Risk Committee (CORC) and Group PROPERTY Operational Risk.
Risk Monitoring
  • Effectively implement and maintain country risk registers, KRIs, KCIs, and control sample testing.
  • Advise stakeholders on key risks, the effectiveness of mitigants & controls, & alignment of residual risks with risk appetite.
  • Ensure risks, issues and treatment plans identified in Phoenix are resolved in a timely manner.
  • Responsible for recording in Phoenix any operational errors that occur within business that result in financial losses, gains, near misses, reputational damage or danger to people or our reputation.
  • Responsible for recording and maintaining operational risks in Phoenix, in accordance with Group Operational Risk procedures, ensuring data accuracy and completeness.
  • Coordinate with functional heads to ensure the daily operations of PROPERTY are delivered with risks being effectively monitored within the bank's Operational Risk Framework.
Compliance and Internal Assurance
  • Ensure KCSAs are effectively assigned to and owned by designated individuals, and embed compliance.
  • Articulate guidelines for checking, processing and approving of relevant KCSAs via Optial in a timely and effective manner.
  • Set criteria for reporting, escalating, rectifying and reviewing any non-compliance.
  • Responsible for implementation and execution of the KCSA/CST processes.
  • Responsible to record in Optial the results of any non compliance identified from the execution of testing and/or collation of risk information.
  • Ensure compliance with Operational Risk policies, procedures, and applicable external laws and regulations.
  • Ensure the effectiveness of management's risk control of functions in PROPERTY.
  • Act as the main contact with auditors to facilitate and coordinate reviews and audits.
Risk Identification, Assessment and Acceptance
  • Validate & challenge first line risk identification & assessment of gross & residual risks arising from end to end processes.
  • Assess control environment including, but not limited to, control design, control execution, control testing & control history.
  • Recommend changes to the control environment or to work practice where necessary to reduce the level of operational risk exposure to within the agreed risk appetite.
  • Challenge and verify the risk rating with the Risk Control Owner (RCO) to ensure that the Risk Rating is correct and endorse the effectiveness of the treatment plan.
  • Ensure Regional Head of OR is informed of risk rated medium or above and that process owners are aware of the need to present all these risks to the CORC.
  • Ensure risks are assessed correctly on the Country OR assessment matrix and if medium or above, the risk is reviewed against the Group OR risk assessment matrix to determine if there is any Group materiality.
  • Ensure all material risks are identified, assessed, mitigated, monitored, reported and logged into Phoenix.
  • Review and approve risk record templates for acceptance of medium, high and very high country level PROPERTY risks.
Risk Appetite
  • Ensure that PROPERTY specialist risk functions have in place effective management plans to manage the risk control areas assigned to them (Security, H&S, BCM).
  • Uphold integrity of operational risk/return decisions by challenging PROPERTY Heads to demonstrate that risk origination and control decisions are properly informed and consistent with strategy and risk appetite.
  • Recommend changes to the control environment or function practices where necessary to reduce the level of operational risk exposure to within agreed appetite.
  • Challenge & constrain PROPERTY activities where risks are not aligned with control requirements or risk appetite.
Risk & Loss Reporting
  • Approve the classification and accurate reporting of operational risk losses from country.
  • Ensure Root Cause reports are provided within the appropriate timelines to the Head of PROPERTY Operational Risk.
  • Prepare and deliver the Root Cause Analysis for Unsatisfactory Operational Risk events as per procedure.
  • Proactively monitor OR events (internal or external) and escalate significant events to Direct Line Manager as appropriate.
  • Monitor 'live' risk issues and events with material risk to Group and verify whether appropriate management action is being taken to mitigate their impact.
  • Accept the classification and accurate reporting of operational risk events and the appropriateness of mitigation actions.
  • Ensure that all operational losses are reconciled into the general ledger.

Other then the above roles, job holder should follow other job duties and responsibilities assigned by line manager from time to time.

Accountable for implementing and complying with FCC requirements when performing duties.
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