Job Description

Role Responsibilities Job Purpose * Effective management of Operational Risk (OR) within the business unit including ensuring the proper functioning of embedded and periodic controls. * Timely identification and escalation of risk and issues. Role Responsibilities Job Purpose Effective management of Operational Risk (OR) within the business unit including ensuring the proper functioning of embedded and periodic controls. Timely identification and escalation of risk and issues. Escalation of risk and issues related CST, KCI and KRI exceptions to NFRF. Establish the First Line of Assurance in the Business unit by implementing a program of Key Control Self-Assessment / Control Sample Testing. Assist Business Risk Manager, CPBB, GBS MY (CPBB BRM) and Business Unit Head 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 policy requirements. Identifying risk from CST / KCI / KRI exception, audit issues, operational losses and near miss, then assessing the risk and ensuring appropriate mitigating action is implemented and monitoring progress. Ensure proper functioning of day-to-day controls, periodic monitoring activities and timely resolution of risk and issues. Lead and support CPBB BRM on assurance checks migration from Countries and drive continuous improvements on assurance checks / analytics. Key Responsibilities Risk Governance Assist CPBB BRM and Business Unit Head the implementation of OR framework or other relevant OR initiatives. Ensure, jointly with the Business / Function, that the business heads and relevant staff understand and accept their risk management responsibilities in relation to operational risk. Ensure smooth conduct of NFRF and other unit level risk related meetings and ensure quality / accurate updates of various OR events and initiatives. Co-ordinate periodic business monitoring (self-assessment) activities within the Business Unit and escalate findings and or breaches to CPBB BRM and Business Unit Head when they occur. Design and implement control measures and monitoring plans for compliance and operational risk management. Ensure effectiveness of controls for compliance monitoring and risk management. Support the initiatives and risk reviews driven across the hub. Risk Appetite Assess periodically the unit&rsquos operational risk profile and maintain alignment with risk appetite by rebalancing of risks or controls that may be required in response to internal and external factors. Review and challenge the existing process to identify the gaps on Systems Design, Systems Control, Process Design and Process Control. Engage closely with Peer Groups within Hubs to share the lessons learnt, process gaps and adhere to effective control measures. Risk Control Ownership of Operational Risk Implement approved plans / Recommend for implementation of enhanced / new control measures and monitoring plans for compliance and operational risk management. Ensure effectiveness of controls for compliance monitoring and risk management. Challenge the completeness of risk identification, monitoring and control activities and identify / address any significant gaps that may exist between them. Ensure compliance with Operational Risk policy and procedures. Risk Identification and Assessment Validate and challenge risk identification and assessment of gross and residual risks arising from executed processes and identify any gaps. Assess the control environment including, but not limited to, control design, control execution, control testing and control history. Recommend changes to the control environment or to business practice to reduce the level of operational risk exposures. Propose effective process controls where there are material risks of process control failure. Validate Business / Functions Controls - Regularly assess implementation of Business / functions Key Control Standards as defined by the business to ensure cost effectiveness, efficiency, and relevance. Identify Local Control Gaps - Regularly assess all key controls against the risk profile to monitor exceptions and identify gaps. Optimise portfolio of local controls - Regularly assess existing Local Key Control Standards, Key Risk Indicators (KRIs) and Key Control Indicators (KCIs) to ensure cost effectiveness, efficiency, and relevance. Provide balanced and informed assessment of operational risks arising from acquisitions and major change initiatives or country projects, where applicable. Risk Acceptance Review and recommend for approval risk record templates within the unit for Local CSTs. Recommend for approval the classification and accurate reporting of operational risk events and the appropriateness of mitigation actions. Challenge and recommend on relevant business activities where risks are not aligned with control requirements or risk appetite. Escalate Risks according to the Risk Acceptance policy. Risk Monitoring Ascertain and confirm that KRIs, KCIs, and Control Sample Testing (CST) as approved, are effectively implemented. Periodically review operational risk assessments to ensure these appropriately reflect changes in environment, mitigating controls and the progress of treatment plans. Systematically monitor process control effectiveness where there are material risks of process control failure. Review and recommend for approval risk treatment plans. Monitor treatment plans to ensure they are implemented accordingly by the business. Lead and support implementation of OR initiatives for the Business unit. Proactively communicate with CPBB BRM and Business Unit Head on operational risk issues. Escalate significant events to CPBB BRM and Business Unit Head as appropriate. Co-ordinate and consolidate operational risk and loss reporting of the unit for the reporting to NFRF. Ensure data accuracy and completeness. Review and recommend for approval for annual key control testing plans. Risk and Loss Reporting Validate the classification and accurate reporting of operational risk losses. Support Country 2nd Line OR in reporting and escalating Significant Operational Risk Events (SORE). Facilitate units for conducting Root Cause Analysis (RCA) reports for relevant events. Provide risk information / updates to functions / domains / Country NFRC as appropriate. Regulatory and Business Conduct Display exemplary conduct and live by the Group&rsquos 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. Lead the CPBB OPS BRM Team in GBS MY to achieve the outcomes set out in the Bank&rsquos Conduct Principles: Fair Outcomes for Clients Effective Financial Markets Financial Crime Compliance The Right Environment. Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters. Key Stakeholders Internal GBS CPBB BRM Head and Risk Controllers (RC) undertaking business monitoring in various units on: Operational Risk Management, money laundering prevention, compliance and financial crime issues. Business Head and Unit Managers Operational risk management and compliance initiatives. CFCC and Legal Interpretation of and consultations on regulatory requirements. CTM System Implementation, enhancement, user requirements and reporting requirements. Training Manager Coordinating operational risk, compliance and money laundering prevention training for staff. GIA Audit and reviews. External Inspection and regulatory requirements (as required) by external auditors and regulators. Our Ideal Candidate A degree or advanced diploma (or equivalent professional certification). An experienced risk professional with at least 8 years hands-on experience on operational risk management. General understanding of banking operations, regulatory compliance and Shariah risk would be ideal. Good oral and written English and Malay language. Role Specific Technical Competencies Operational Risk Framework Language - English, Malay, Indonesia About Standard Chartered We're an international bank, nimble enough to act, big enough for impact. For more than 160 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents. And we can't wait to see the talents you can bring us. Our purpose, to drive commerce and prosperity through our unique diversity , together with our brand promise, to be here for good are achieved by how we each live our valued behaviours . When you work with us, you'll see how we value difference and advocate inclusion. Together we: Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term 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, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with 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 all sorts of 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 Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential. Recruitment assessments - some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process. Visit our careers website