The Business Risk Manager represents the business and supports the Operational Risk function to implement the operational risk aspects of the Bank’s Risk Management Framework, Group Operational Risk strategy and associated operational risk procedures to ensure that operational risk is effectively managed at the business unit level. The Business Risk Manager must :
1.Implement and execute the Risk Management Framework (RMF) and ensure that all aspects of the Bank’s Operational Risk (TB OR) toolkits are completed on time and relevant stakeholders are regularly kept apprised.
2.Proactively identify control weaknesses and ensure proper functioning of day-to-day controls and timely resolution of risks/events. Concurrently, implement additional controls as required within TB to meet all key local regulatory and internal policy requirements.
3.Coordinate, drive and direct effective compliance and operational risk management within TB in order to achieve no failed audit outcomes.
Key Roles & Responsibilities
*Support TB in minimizing operational risks and losses, and ensure all operational losses are investigated to prevent recurrence.
*Responsible for the timely identification, assessment, mitigation, reporting and escalation of all identified Operational Risk exposures within TB and supporting functions. Assist in the identification of new business and regulatory risks and the implementation of appropriate controls to mitigate those risks.
*Ensure TB Front Office Self-Assessments (FOSA) are completed on time as required, and ensure issues identified are tracked to closure.
*Ensure RAT (Risk Acceptance Template) completed for any identified new risks, control failures and passed to SORO for approval before submission to BORF.
*Proactively 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 cross-functional) in the management and implementation of the Risk Management Framework and other relevant OR-related initiatives, including ensuring proper functioning of embedded and periodic controls.
*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 as well as facilitating the monitoring/collection of any Key Risk Indicators (KRIs). With the local process owner ensure sign off on all new and amendments to existing CSTs and ensure they are tabled at BORF.
*Responsible for tracking actions against audits and other business-specific reviews and reporting the status of these actions periodically to the appropriate governance forums.
*Responsible for recording and maintaining TB Front Office risks in the risk tracking system (Phoenix). Responsible for the quality of information being recorded as well as ensuring data accuracy, completeness and timely resolution for end-to-end business risks.
*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.
*Drive improvement in OR processes through process improvement initiatives.
*To be the source of reference within TB in facilitating/promoting the understanding of Operational Risk and compliance/regulatory requirements.
*Facilitate development of training material on Operational Risk policies relevant to the business, across the Region.
*Identify knowledge gaps and arrange appropriate and relevant training on Operational Risk.
*With the Senior Business Risk Manager ensure a RCA (Root Cause Analysis) is completed for any audit fail and for any identified weaknesses in critical processes/significant losses/near misses (as per ORMF guidelines).
*Contribute, through conduct of FOSA and other internal assessments, towards achieving no failed audits and reviews undertaken by Group Internal Audit, Country Audit, regulators and external auditors (and any others from time to time).
*Review audit findings and key themes; assist business to achieve resolution in line with business risk appetite. Coordinate socialisation of audit reports and identification and closure of common issues.
*Conduct periodic reviews on Operational Risk controls, submit review reports 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.
*Be the “go to” person within TB for the FCC and Compliance teams
*Raise awareness of AML compliance procedures in TB through receiving, distributing and championing AML awareness disseminated from Business and Country FCC.
*Work with local risk control owners to ensure timely communication of new/revised external regulations and internal policies.
*In collaboration with the SORO and Country Compliance, 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 & Skills
*Minimum of a 2nd Class degree in a relevant course
*Knowledge of TB products
*Operational risk accreditation / background
*Relevant business/function experience
*A clear understanding of the Bank’s approach to the management of operational risk, or equivalent experience gained in other organizations
*The sound judgement and courage necessary to perform a control role and maintain effective working relationships
In compliance with the National Youth Service Corps (NYSC) Act of 2004, all applicants should ensure that they have completed the mandatory NYSC programme. A discharge certificate will be required as evidence of completion of the programme. Where an exemption has been granted, a certificate of exemption will also be required
Diversity & 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.