Job Summary

This role is a 6 month Short Term Assignment.

The Director, Operational Risk role will have responsibility for supporting and execution of the Operational Risk Framework, its related Policies and Standards in line with the regulatory requirements of the Bank. The role is a 2nd line of defence role, where the role includes responsibility for overseeing, supporting, challenging and deciding operational risk matters at SCB UK.  

The role requires expertise in internal controls, issue management, risk and control and self-assessment processes in the Operational Risk, Technology & Cyber Risk domain, to ensure that the identified risk issues and associated remediation actions across the Bank are delivered and completed, with the highest levels of discipline and in line with Bank´s policies and standards.

Key Responsibilities

Business
•    Guide 1st line Process Owners / Business Risk Managers and 2nd line Risk Owners to achieve sound risk management within SCB UK
•    Communicate confidently and clearly with senior stakeholders, taking a lead in working groups and other meetings.

Processes
•    Properly execute all processes where OR is the identified first line process owner.
•    Actively support Cluster Head, OTCR, Europe & Country Head, UK to ensure effective management of non-financial risks within the Risk function and compliance with applicable internal policies, standards, frameworks and external laws and regulations.
•    Continuously improve the operational efficiencies and effectiveness of risk management processes and framework
•    Act as second line Operational Risk control owner for Business and Functional activities or processes performed in the country for SCB UK.
•    Monitor the local execution within the country-level processes; and adherence to local/global frameworks, policies, standards and process governance set out by country/global process owners & risk control owners.
•    Monitor compliance to the Board approved risk tolerances and effectiveness of the risk controls; escalate material exceptions to the senior management and Country Non-Financial Risk Committee.
•    Guide through example and embed the Group's values and Code of Conduct in the Operational Risk function to drive adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees.
•    Continuously assess the strategy and growth versus the internal operational risk profile and external environment; and inform the development of the business plans, products and process infrastructure.
•    Ensure implementation and usage of the Operational and Technology Risk Type Framework across the processes and activities performed within the country

•    For new processes included to the process universe, validate and challenge inherent risk and residual risk assessment for resulting critical processes, including control standards and key risk indicators for continuous monitoring of the operational risk profile.
•    For existing processes, validate and challenge inherent/residual risk assessments due to underlying process changes. Continuously validate and challenge changes to the residual risk assessments based on recent exceptions from control standards and key risk indicators, and other relevant internal and external factors.
•    Review, challenge, recommend or support (within delegated authorities) Residual Risks, Treatment Plans and Risk acceptance plans for operational risks rated as per defined thresholds.
•    Monitor and report material changes to the operational risk profile and escalate material exceptions to senior management and risk committees. 
•    Review and challenge the causes of the operational risk events and appropriateness of the mitigation actions. Report and escalate significant operational risk events and support the preparation of the root cause analysis. Approve (within delegated authorities) treatment plans for Material Risk Events.
•    Develop and execute Operational Risk Training activities for  SCB UK
•    Review, challenge and decide on Product and Project/Change Management  related approval requests in line with Operational Risk Policy & Standards  

People & Talent
•    No leadership responsibility

Risk Management
•    Direct appropriate response to material events or other risk issues that come to Operational Risk’s attention.
•    Ensure all material risk exposures and related issues are reported to the responsible governance committees as appropriate.
•    Take ownership for assigned portfolio and ascertain adherence to requirements, including Product Approval Processes and  Change Management.
•    Maintain a good understanding of the requirements of key stakeholders in respect of risk management and ensure these are well understood internally and reflected in procedures.
•    Ensure effective implementation and proper usage of Group Policies, Standards, Procedures 
•    Ensure proper execution of the Operational and Technology Risk Type Framework across critical processes and activities performed within SCB UK.
•    Review and challenge causes of the operational risk events and appropriateness of the mitigation actions as well as the risk acceptance plans.

Governance
•    Ensure that the country consistently and effectively follows SCB’s Risk Committee Structure, Policies and Standards 

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.
•    Promote a healthy risk culture within the Bank.
Key stakeholders
•    Business / Function Heads
•    Risk Framework Owners
•    Global/Country Process and Product Owners
•    Internal Audit
•    The Group's external auditors
•    Country Head Operational Risk
•    Cluster Head, OTCR, Europe & Country Head, UK

Other Responsibilities
•    Embed Here for good and Group’s brand and values in SCB UK; Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
•    Prepare, present and challenge in a 2nd line capacity at relevant risk committees, steering groups, and cross-business opportunities for the Bank requirements.

Skills and Experience

•    Manage Operational Risk
•    ICAAP (Internal Capital Adequacy Assessment Process) for OpsRisk 
•    Data preparation and review skills
•    Manage Change & Projects
•    Relationship Management

Qualifications

•    Education- Relevant higher academic or professional education/qualification
•    Training-No mandatory training – internal e-learnings apply
•    Languages-English
•    Market Knowledge: Substantial experience in the banking industry, including demonstrated success in a similar role.
•    Risk Management and Control: Demonstrated track record in successful management and expertise in process design and control.
•    Regulatory Framework and Requirements: Awareness and understanding of the regulatory framework, in which the firm operates, and the regulatory requirements and expectations relevant to the Operational Risk function.
•    Non-technical Skills: Relationship management experience — with external stakeholders
•    Operational risk management experience.
•    Business/function experience.
•    A clear understanding of the Bank's approach to the management of operational risk, or equivalent experience gained in other organizations.
•    Ability to leverage resources across the organizations to complete deliverables.
•    Sound judgment and courage necessary to perform a control role and maintain effective working relationships.

About Standard Chartered

We're a global bank connecting clients to our differentiated network, offering growth opportunities in the world's most dynamic markets. Our strategy, which combines cross-border capabilities and leading wealth management expertise, helps us deliver our purpose - to drive commerce and prosperity through our unique diversity.

Over our 170-year history, and across a unique geographical footprint connecting Asia, Africa and the Middle East to each other and the world, we've built a bank like no other, with diverse capabilities and partnerships that set us apart.

What We Offer

• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions, and geographies.
• 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 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.

Visit our careers website to learn more about us: www.sc.com/careers.