Senior Operational Risk Manager, Compliance

Job description / Role

Senior Operational Risk Manager, Compliance, UAE

The Operational Risk Manager (Country Compliance) is responsible for assisting the Country Compliance team to manage the Operational Risk Framework (ORF) and be responsible for conducting the first line testing for processes owned by Compliance and facilitate the country Compliance team to fulfil their roles in Risk Owner (RO).

Key Roles and Responsibilities

Assist Compliance Process Owners / Risk Owners with ORF implementation:
* Assist Group Compliance Process Owners (POs) in any future on-boarding of risks and in the ongoing review and refresh of gross risk assessments and their associated controls for which Compliance are responsible as POs.
* Assist Compliance POs in successful implementation of Enterprise Operational risk Platform (EORP). To be monitored by regular MI demonstrating that risk records are approved by Compliance POs within stipulated deadline.
* Assist Group Compliance Risk Owners in any future on-boarding of risks and in the ongoing review and refresh of gross risk assessments and their associated controls for which Compliance are responsible as RO.
* Assist Compliance Risk Owners (ROs) in successful implementation of Enterprise Operational risk Platform (EORP). To be monitored by regular MI demonstrating that risk records are approved by Compliance ROs within stipulated deadline.

Assist the 1 st line testing for processes owned by Compliance:
* Where L&C is the process owner, complete the required information to prove the control indicators including:
* Conducting Control sample testing (CSTs)
* Obtaining the data for key control indicators (KCIs)
* Facilitate the tracking of Risk Acceptances and any requisite Root Cause Reports where Compliance are POs to ensure the relevant parties are kept fully informed of any actions due.
* Act as system champions/experts and perform in the management of Compliance related risks within the bank's OR systems to support the Group Compliance Process Owners.

Stakeholder Management:
* Promote the culture and practice of compliance with compliance standards (including conducting business within regulatory requirements, and to high ethical standards) and embed a 'here for good' culture and the Group Code of Conduct in team.
* Assist Regulatory Compliance Head in ensuring the Bank is properly prepared for regulatory inspections.

Central Compliance Risk Control Support:
* Review Residual Risk Assessments performed by 1 st line Process Owners in light of CST and KCI results. Wherever necessary conduct independent assurance review of the CSTs / KCIs
* Coordinate, analyse and present to Regional Compliance Risk Control team and / or to the relevant Group Compliance Risk Owner to ensure the Country Compliance Risk Owner view is represented and considered as part of the Global residual risk assessments being proposed by the 1st line for approval.
* Act as system champions/experts and perform in the management of Compliance related risks within the bank's OR systems to support the Group Compliance Risk Owners.
* Facilitate the tracking of risk acceptances and any requisite root cause reports where Compliance are the Risk Owner to ensure the relevant parties are kept fully informed of any actions due.
* Facilitate an effective flow of communication between Group Central Compliance, the Country/Regional Compliance Head, the Compliance Process Owners, and Compliance Risk Owners regarding all relevant OR communications/decisions/reporting to ensure all stakeholders are well informed and advised. Also liaise within Group Operational Risk as required to ensure consistency and validity of reporting.

Governance:
* Assist in the development, implementation and ongoing oversight of the framework governing the interaction between the risk control team and risk owners (regional and global), including development of DOIs and tools (such as standardized reports/ templates) to ensure there is consistency across regions with regards to risk owner support, and to provide assurance that minimum standards in areas such as risk identification, management and reporting (i.e. what things should risk control teams be looking out for when reviewing results, what should they report; when, etc); record keeping, etc, are being met.
* Assist in the development of a QA schedule (validation of test results) for regional risk control teams and track progress to completion.
* Ensure significant issues are tracked, reported and remediated.
* Promote the sharing of best practices across regional risk control teams, including lessons learnt from audits, compliance reviews, etc.

Management Information:
* Liaise with Group OR and the Compliance MI and data mgmt. teams to ensure availability of relevant, accurate and timely MI.
* Assist in the development of reports for GORC (Group Operational Risk Committee) and CRRC (Compliance Regulatory Risk Committee); provide information on key risks, trends, etc to senior mgmt. as/ when required.

People:
* Assist in the development and execution of comprehensive training plans for the risk control team and risk owners.
* Carry out capacity analyses to ensure risk control teams are adequately staffed and resourced to meet the compliance risk control agenda.

Key Stakeholders:
* Head of Regulatory Compliance UAE:
* ROs (from Compliance)
* Compliance process owners
* Senior Manager, Regional Risk Control team (AME)

Management Committees/ Forums:
* Country Operational Risk Committee (CORC)
* Functional Operational Risk Forum (Compliance)

Requirements

* Relevant operational risk or Compliance/FCC experience
* Clear understanding of the Bank's ORF or equivalent experience gained in other organizations
* Sound judgment with critical thinking skills and courage necessary to perform a control role and maintain effective working relationships
* Strong analytical skills, detail-focused with the ability to interpret large amounts of information
* Problem solving skills with ability to influence at all levels of the business
* Ability to work independently with minimum supervision

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.