Business Risk Manager, Transaction Banking

Standard Chartered Bank - UAE

UAE

Ref: HP048-321

Job description / Role

Employment: Full Time

Why Standard Chartered?
Standard Chartered is a leading international banking group committed to building a successful and sustainable future for our people, our customers and the communities we serve. With 1,700 branches and offices in 68 markets in Asia, Africa and the Middle East, we offer exciting and challenging international career opportunities to over 89,000 employees.

Our Wholesale Banking business offers a wide range of financing and investment solutions to corporate and institutional clients to help them achieve their business goals. We've built our business to support our clients, with a footprint in fast growing markets, providing on-the-ground expertise and taking a relationship-focused approach.

Job Description
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. Specifically, the Business Risk Manager must:

1. Implement the Risk Management Framework (RMF) and where the Business Risk Controller double-hats as the RP, ensure that all aspects of the Wholesale Bank Operational Risk (WB OR) toolkits are completed on time and relevant stakeholders regularly kept apprised.

2. Ensures that all existing products offered by the bank are sanctioned by current and valid product programs (PPG) and Country Addenda (CA). Also ensure that the CAs are approved by relevant authorities and the quality of the same are checked as per group guidelines through periodic checks.

3. Ensure that all Non-standard processes are duly approved by the relevant authorities and applicable forums. Also ensure that the existing frameworks / forums like OR model, KCSA framework, CEF should be leveraged appropriately to keep a track of such non-standard processes. Engage with local GTO and central Ops to keep a track of the non-standard processes and ensure that the relevant approvals (BORC/CORC/PGC) are obtained before product/process is commercialized. A periodic check should be followed to track and monitor such non standard processes.

4. Ensure that checks are conducted against defined KCSA / KRIs and any arising risks are highlighted and discussed adequately with business heads.

5. Manage the TB risk issues in BORC and ensures that all risks tabled in BORC are fully addressed as per the guidance from BORC.

6. Ensure that an effective Business Continuity plan is in place for the unit.

7. Proactively identify control weaknesses and ensure proper functioning of day-to-day controls and timely resolution of risks/events. Concurrently, implement controls within the Business Unit to meet all key regulatory and internal policy requirements.

8. Coordinate, drive and direct effective compliance and operational risk management at the Business/Unit level in order to achieve no fail audit outcomes.

9. Take the lead on for overall governance to ensure that the business is audit ready at all times.

10. Implement controls within the Business Unit to meet all key regulatory and internal policy requirements.

11. Help develop an operational risk culture by ensuring compliance with operational risk governance procedures and policies by delivering training.

Key Roles & Responsibilities

* Support the business in minimizing operational risks and losses, and ensure all operational losses are investigated to prevent recurrence.
* Perform reconciliation on a monthly and annual basis on all Phoenix operational losses versus GL entries to ensure that all losses/recoveries are correct and/or accounted for on both databases and the Bank's books and records.
* Responsible for the timely identification, assessment, mitigation, reporting and escalation of all identified Operational Risk exposures. Assist in the identification of new business and regulatory risks and the implementation of appropriate controls to mitigate those risks.
* Ensure RAT (Risk Acceptance Template) completed for any identified new risks, control failures are passed to SORO for approval before submission to BORC.
* Be an informer: 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 process owner ensure sign off on all new and amendments to existing CST's and that same are tabled at BORC.
* Responsible for tracking actions against audits and reviews and reporting the status of these actions periodically to the appropriate governance forums.
* Responsible for managing the issues raised from business-specific reviews and follow-through to resolution.
* Responsible for recording and maintaining risks in the risk tracking system (Phoenix). Responsible for ensuring the quality of information being recorded as well as ensuring data accuracy, completeness and timely resolution.
* 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 the Business 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.
* Identify knowledge gaps and arrange appropriate and relevant training on Operational Risk.
* Ensure a RCA (Root Cause Analysis) is completed for any audit fail and identified weaknesses in critical processes/significant losses/near miss (as per ORMF guidelines).
* Contribute towards achieving no fail results on all audits and reviews undertaken by Group Internal Audit, Country Audit, regulators and external auditors, peer reviews (and any others from time to time).
* Review findings/key themes; assist business to achieve resolution in line with business risk appetite.
* 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.
* Act as the ""go to"" person in TB for the country for advice on policy, process, system and procedures.
* To raise awareness of AML compliance procedures in the business unit through receiving, distributing and championing AML awareness disseminated from WB and Country FCR.
* To ensure that all staff in the unit are aware of their core responsibility to report suspicion of money laundering in compliance with Group and Country Suspicious Activity Reporting and Transaction Monitoring procedures. To follow through on any required action resulting from SAR reporting, transaction referral, suspected sanctions links, etc.
* To obtain necessary AML certification.
* 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.

How To Apply

Please apply online. To help speed up your application, please note the following:

- You will need to log in (or register if you are visiting our careers site for the first time) before you can apply for a specific role

- Some roles may require you to undertake an online talent assessment in addition to completing the application form (to facilitate this process it is preferable that you provide us with an email address as part of your contact information)
- We will ask you about your education, career history and skills and experience, it may be helpful to have this information at hand when completing your application

It usually takes 15 - 20 minutes to complete the application form; you can save your application at any time and return to complete it at your convenience.
Closing Dates
The closing date for applications is 27/02/2014. Please note all closing dates are given in Hong Kong time (GMT + 8 hours). We aim to respond to successful applicants within four weeks and will keep a record or your application in our database so that we can contact you when suitable vacancies arise in future.
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.

Requirements

Qualifications & Skills
* Operational risk accreditation preferred
* Relevant business/function experience, including experience within business/function operations
* 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

KEY MEASURABLES:
* A demonstrated understanding of the gross and residual risks associated with business activities and how the impact/probability of these risks is reduced by the control environment
* Demonstrated track record of Operational risk considerations being an integral component of the business decision process
* A clear cycle of feedback which sees the comprehensiveness of the risk identification process and the integrity of the control environment challenged through the analysis of significant events
* An effective governance process (BORC) that focuses on significant risks and that directs changes to the control environment in order to contain operational risk within acceptable limits.
* An effective and timely communication of changes due to internal or external factors, e.g. from regulatory environment and internal policies from Group
* An acceptable and understood history of operational risk losses
* An acceptable history of audit results and review outcomes
* Effective cross team collaboration and leadership skills - proactive engagement with Business Unit Head, Business Head and SORO.

About the Company

Standard Chartered Bank started in 1958 in UAE with its first branch in Sharjah. The Group’s business gradually increased in Dubai with the opening of several branches and today, Dubai is the administrative hub of the Middle East and South Asia Region. In its 43rd year, the Bank enjoys the position of having the most extensive branch network among foreign international banks in UAE with 10 branches emirate-wide.

Standard Chartered is an international bank, focused on the established and emerging markets of Asia, Africa, the Middle East and Latin America with an extensive global network of more than 600 offices in over 50 countries. The three principal business groups are Global Markets, Personal Banking and Corporate and Institutional Banking.

In UAE, we are one of the leading banks, offering an extensive range of products and services for personal customers, local companies, multinational corporate and financial institutions.

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