Job Summary
Strategy
• Appraise and contribute to the development of the Bank’s strategic plans and alignment with risk appetite through active membership of the Executive Committee (ExCo) and other forums.
• Inform the development of business plans with the provision of cost and impairment forecasts and a balanced judgement on the external environment.
• Contribute to the development of performance management and remuneration processes, in order to encourage the development of an appropriate risk culture and discipline.
Business
• Align strategy of the Risk function with business strategy and risk appetite and oversee its execution.
• Define the strategic intent and agenda for the Risk function.
• Maintain and develop risk capabilities, skills and infrastructure to meet ongoing business needs and plans.
Processes
• Supervise all processes where a member of the Risk function is the identified first line process owner.
• Ensure effective management of operational risks within the Risk function and compliance with applicable internal policies, and external laws and regulations.
• Continuously improve the operational efficiency and effectiveness of risk management processes.
• Work collaboratively with Risk Operations and Risk Analytics.
Key Responsibilities
People & Talent
• Employ, engage and retain high quality people.
• Define an organisation structure aligned and scaled to the risk control needs of the Bank.
• 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 Risk function from those whose primary responsibility is to maximise short-term revenues and profits.
• Ensure the provision of ongoing training and development of the Risk function’s people, and ensure that holders of all critical functions are suitably skilled and qualified for their roles.
• Lead through example and embed the Group’s values and Code of Conduct in the Risk function to drive adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees.
Risk Management
Operational Risk
• 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 based on 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 Type Framework and all associated policies and procedures are effectively embedded and communicated in country.
• To be the central point of contact for operational risks within SCB Côte d’Ivoire, arising within the processes, including being responsible for the evaluation of the design and operational effectiveness of all controls. To ensure risks of Processing Failures 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.
Risk Appetite
• Periodically assess the Business operational risk profile to maintain alignment with the Country risk appetite.
• Review and challenge Business 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 appetite
Risk Control Ownership of operational risk
• Provide a central contact point and oversight over all controls required to effectively manage operational risk within the Business 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 the Business.
Risk identification and Assessment
• Validate and challenge the first line risk identification and assessment of inherent 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 Business 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 Business/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
Risk Acceptance
• Review and approve risk record templates for acceptance of medium, high and very high Business level risks.
• Accept the classification and accurate reporting of operational risk events and the appropriateness of mitigation actions.
• Challenge relevant Business units’ 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.
Risk Monitoring
• Ascertain and confirm that Business 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
• Approve the classification and accurate reporting of operational risk losses.
• Provide risk information/updates to Executive Country Risk Committee as appropriate.
Stress Testing
• 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.
Risk Governance
• Align the business operational risk management approach to the Operational Risk Framework and the Risk Management Framework and oversee its effective application.
• Ensure that the Business Head and Unit Heads and relevant staff understand and accept their operational risk management responsibilities.
• Represent Operational Risk in Operational Risk Forums in the country.
• Support training initiatives from Group OR, wherever required, and when time permits, to Business/Function UORMs.
• Handle ERC Secretary when necessary
Risk Appetite
• Propose, in consultation with Group, the Bank’s overall risk appetite for review by the Risk Committee and approval by the Board.
• Assess periodically the risk profile of the Bank and maintain alignment with risk appetite by rebalancing of risks or controls that may be required in response to internal and external factors.
• Initiate, at least annually and with guidance from Group specialists, a stress test and scenario programme, review the results and assess their implications.
• Ensure that effective management response plans are in place to respond to extreme but plausible scenarios.
• Uphold the integrity of risk/return decisions, by challenging business and control function heads to demonstrate that risk origination and control decisions are properly informed and consistent with strategy and risk appetite.
• Direct appropriate response to material events or other risk issues that come to the CRO’s attention.
• Risk Control Ownership of Credit, Traded, Operational, Country, Reputational, and Operational Risk
• Develop and maintain risk identification, measurement and modelling capabilities which are objective, consistent and compliant with applicable regulations.
• Ensure that material risk exposures and related issues are reported to the responsible governance committees and to the Board or Board committee as appropriate.
• Assign risk authorities to suitable named individuals in line with their skills and judgement.
• Design, maintain and effectively communicate risk control parameters across the Bank, including policies, control standards, risk exposure limits and other control levers in order to maintain the Bank’s risk profile in line with overall risk appetite.
• Assure effective application of Operational Risk policies and procedures and monitor their effective application.
• Challenge the completeness of risk control activities across Operational Risk Control Areas and identify and address any significant gaps that may exist between them.
• Implement the Operational Risk Type Framework (“ORTF”) in country.
• Maintain a good understanding of the requirements of the Bank’s key external stakeholders in respect of risk management and ensure these are well understood internally and reflected in internal procedures.
• Obtain assurance regarding the effectiveness of controls and compliance with applicable laws & regulations.
• Define and maintain, in consultation with Finance, loss provisioning policies, procedures, delegated authorities and forecasting methods.
Governance
• Develop and maintain the overall ERMF for the Bank and oversee its effective application.
• Design and maintain a risk committee structure for the Bank and ensure it is effective.
• Chair the Executive Risk Committee when necessary, ensuring that the committee is exercising its responsibilities effectively within its delegated authority; actively participate in other key committees through standing membership.
• Ensure business heads, first line process owners and all Risk Control Owners understand and accept their risk management responsibilities.
• Maintain an open and co-operative relationship in dealings with regulators
• Constantly build the skills of his/her teams
• Assist the deliberative body or the risk committee, as appropriate, in determining and monitoring risk appetite and limits.
• Participate, together with the executive body, in monitoring risk performance and compliance with limits.
• The Head of Risk shall be involved in key decision-making processes, including strategic planning, capital and liquidity planning, compensation system development and implementation, new products and services, and significant strategic initiatives and transactions.
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.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Other Responsibilities
• Embed Here for good and Group’s brand and values in second line risk management.
Skills and Experience
• Market Knowledge
• Business Strategy and Model
• Risk Management and Control
• Financial Analysis and Control
• Governance, Oversight and Controls
• Regulatory Framework and Requirements
Qualifications
Education
• Hold a Master’s Degree (or its equivalent) in Finance, Economics or any Banking related field.
Training
• 5 years’ experience of functional risk experience in the areas of Operational Risk. Experience in Credit Risk (Retail / Corporate, Institutional & Commercial Clients), Market Risk, GSAM is an added advantage
• Good knowledge and grasp of banking practice, financial markets, Basel II and products at a higher level and awareness of the country regulatory framework
Licenses
• Knowledge in Finance, Business or accounting courses and certifications
Membership
• Member of regulated accounting Bodies and or Risk professional bodies.
Languages
• Ability to speak and write in French
About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.
Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.
Together we:
- Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
- Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
- Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
What we offer
In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
- Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
- Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
- Flexible working options based around home and office locations, with flexible working patterns.
- Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
- A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
- Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.
