Unit Operational Risk Manager at Standard Chartered Bank

Job Description

• Assist Business Unit Head and R&C Manager ITO in coordinating, driving and directing effective compliance and operational risk management at the Business Unit level.
• Implement controls within the Business Unit to meet all regulatory and internal requirements
• Ensure proper functioning of day-to-day controls, periodic monitoring activities and timely resolution of risk issues

Key Roles and Responsibilities

KEY RESPONSIBILITIES

• Operational Risk (OR) Organisation
• Ensure Operational Risk (OR) objectives for the year are communicated to and adopted by te Responsible Person (RPs) in their JOs & Job Ds
• Ensure OR toolkits are embedded within the business (Key Risk Indicators, Enterprise Operational Risk Platform - EORP Risk & Loss
• Module, Operational Risk Framework, Optial (if available))
• Disseminate internal policies, regulatory requirements and other OR related
• communication to the unit in a timely fashion
• Develop / update procedures for compliance and management of operational risk in
• a timely fashion
• Coordinate and/or undertake periodic self-assessments within the unit
• Undertake periodic OR review assessment on high-risk Business Units, as required
• Facilitate implementation of OR initiatives for the Business Unit
• Review OR issues reported by the unit for completeness and accuracy
• Coordinate and consolidate OR issues and loss reporting in EORP for prompt
• escalation to Business Operational Risk Forum (BORF), Country Operational Risk Committee (CORC)
• Ensure significant risks issues (including issues highlighted by Group Internal Audit,
• external audit, regulators and compliance reviews) are addressed in an adequate
• and timely fashion
• Ensure that all significant OR issues are escalated to the attention of the CORC and
• ORM in a timely fashion
• Source of reference within the Business Unit in facilitating and promoting the
• understanding of OR
• Be involved in the risk analysis of a complaint as it could indicate a process-
• weakness or control breakdown.
• UORM may double-hat or act as a backup for:
• Performance of Business Key Control Self Assessment (BKCSA) and Global Key Control Self Assessment (GKCSA) on Optial before due date (if available) and submission of Risk papers promptly to the Business Operational Risk Manager (BORM).
• Reviewing of COPman checks carried out by ITO. Exceptions noted to be escalated to Head Banking Operations, Head Market Wealth and Head Risk and Controls.
• Monthly surprise checks using the agreed UORM checklists to ensure adherence.
• Money Laundering Prevention (MLP)
• May act as Unit Money Laundering Prevention Officer (UMLPO)
• Assist Business Money Laundering Prevention Officer (BMLPO) in ensuring appropriate internal controls and procedures for Money
• Laundering are in place, working as intended and documented
• Assist in the investigation of financial crime risks, where appropriate
• Review and evaluate STR raised by business for escalation to BMLPO/CMLPO - Country money Laundering Prevention Officer
• Source of reference for MLP related issues and interpretation of policy / regulatory
• Requirements
• Be aware of and comply with Group Policy, Local Laws and Regulations relating to the prevention of Money Laundering and Terrorist Financing.
• EORP Operational Risk / Loss Module
• Coordinate & consolidate OR issues and Operational Losses (Ops Loss) from the
• Business Unit
• Review Operational Losses and OR issues reported by the Business Unit for completeness
• and accuracy
• Upload OR issues into EORP
• Advise & follow up with the Business Unit on OR open items
• Advise & follow up with the Business Unit on Operational Losses open items
• Track all OR open issues escalated until resolution
• Track all Ops Loss open times for funds recovery (if any)
• Source of reference for minor technical EORP issues
• ORF Optial
• Review new/changed regulatory or policy requirements and consult Legal & Compliance / Operational Risk Management
• on application of regulatory requirement (where necessary)
• Work with RPs on control measures and monitoring plan within
• stipulated timeframe
• Review the quality of the business monitoring and work together with the unit reps
• to increase quality of monitoring
• Follow up on system triggered reminders on overdue monitoring items (review root
• cause of items falling due)
• Business Continuity Planning (BCP)
• Review ad hoc (risk based) review reports on level of testing at BCP site
• Review ad hoc (risk based) review reports on adequacy / efficiency of BCP
• Resource
• Management of Outsourced Operational Risk
• Work with RPs in OR management for outsourced operations
• Ensure end-to-end procedures mitigate Ops risk and compliance requirements met
• Review Ops risk and Ops Loss issues reported and ensure effectiveness and
• timeliness of resolution
• Reviews / Audit
• Conduct risk-based ad-hoc reviews together with ORM (where necessary)
• Act as a coordinator for internal/external auditors and compliance reviewers at the
• Business Unit level
• Review report on OR/compliance findings and work together with the Business Unit
• to close gaps identified
• Training
• Act as a coordinator in the Business Unit in facilitating and promoting understanding
• and management of OR by identify training needs on Compliance and OR
• Schedule training calendar according to theme [eKYC, MLP, OR, Compliance,
• Optial (if available), EORP and etc]
• Coordinate training effort with bank-wide training plan (where necessary)
• Conduct OR training either as lead or co-facilitator
• Source for and prepare OR training programmes and materials and customise
• according to business needs
• Implementation of New Procedures / OR-Related System
• Identify resource required
• Work with BUH / ORM on implementation plan
• Monitor and manage progress
• Others
• Daily review of all open items in Nostro and Suspense accounts with a view to ensuring there are no over-aged items.
• Close monitoring of COPMAN to ensure adequate & timely review by ITO staff.
• Regulatory reports collation and submission to appropriate authorities.
• Coordinate MIS reports for the unit.

KEY MEASURABLES

• Cross team collaboration and leadership skills - proactive engagement with Business Unit
• Head and all responsible persons in the Unit.
• Effectiveness of the control and monitoring of operational risk, compliance risk and money
• laundering prevention at the Business Unit level.
• Satisfactory results on audit undertaken by Group Internal Audit, Other regulators and
• external auditors.
• Timely communication of changes to the regulatory environment and internal Policies from
• Legal & Compliance and Operational Risk Management Group.
• Timely reporting and escalation of all operational risk exposures
• No overdue Key Control Self Assessments (KCSA) and issues in eORP
• Maintaining robust controls and monitoring actions.

Diversity and Inclusion

Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.