• Head , Risk & Control Trade Services Jobs in Chennai,India

  • Standard Chartered Bank Ltd

Job Description:

1 Assess periodically the units 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

2 Review and challenge the existing process to identify the gaps on Systems Design, Systems Control , Process Design and Process Control

3 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

1 Design, maintain and effectively communicate operational risk control parameters, including control standards, risk exposure limits and other control levers applicable to the GBSs, in order to maintain a risk profile in line with the overall risk appetite

2 Challenge the completeness of risk identification, monitoring and control activities across GBS and identify/address any significant gaps that may exist between them

3 Ensure compliance with Operational Risk policy & procedures

4 Risk identification and Assessment

5 Validate and challenge risk identification and assessment of gross and residual risks arising from executed processes and identify any gaps

6 Assess the control environment including, but not limited to, control design, control execution, control testing and control history

7 Recommend changes to the control environment or to business practice to reduce the level of operational risk exposures

8 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

9 Provide balanced and informed assessment of operational risks arising from acquisitions and major change initiatives or country projects, where applicable

Risk Acceptance

1 Review and recommend for approval risk record templates within the unit for Local KCSAs / CSTs

2 Recommend for approval the classification and accurate reporting of operational risk events and the appropriateness of mitigation actions

3 Challenge and recommend on relevant business activities where risks are not aligned with control requirements or risk appetite

4 Escalate Risks according to the Risk Acceptance policy

Risk Monitoring

1 Ascertain and confirm that country risk registers, KRIs, KCIs, and Key Control Self Assessment (KCSA) or Control Sample Testing (CST) are effectively implemented

2 Periodically review operational risk assessments to ensure these appropriately reflect changes in environment, mitigating controls and the progress of treatment plans

3 Systematically monitor process control effectiveness where there are material risks of process control failure

4 Review and approve risk treatment plans

5 Monitor treatment plans to ensure they are implemented accordingly by the business

6 Work with Global Product Ops Heads to receive control and risk metrics in order to monitor KRIs and KCIs

7 Review and update annual key control testing plans

Risk & Loss Reporting

1 Validate the classification and accurate reporting of operational risk losses

2 Provide information to second line OR in reporting and escalating Significant Operational Risk Events (SORE)

3 Facilitate units for conducting Root Cause Analysis (RCA) reports for relevant events

4 Provide risk information / updates to functions / domains / Country ITO Operational Risk Committee (GTO FORC) as appropriate

DQMF governance

To support the ongoing implementation and roll out of Trade Data Quality Management Framework for various DQ programmes of TB

1 Perform control gap analysis applying DQ controls of data profiling, data comparison and any other DQ controls as required and ensuring accuracy and completeness of the data sourced from various systems

2 Assist in completing the periodic ORF related checks relating to Data Quality Management Framework on Control sample testing (CST), Key control indicators etc

Reporting/Regulatory Reporting

1 To provide regulatory reports for India, some markets in Africa, Hong Kong and China (~35 in India, ~63 reports in China)

2 Ensure accuracy and timely submission of reports to avoid penalties

Key Relationships

Internal

GBS OR & Business OR

Global product ops Heads and their respective unit heads

Legal & Compliance

CTM

Training Manager(s)

GIA

External

Auditors and Regulators

Key Measurable

The performance of the GBS Head Risk & Control will be measured by

1 Favourable external, internal and regulatory audit results eg absence of audit failures or audits rated improvement required, absence of near misses and only acceptable results at independent Key Control Self Assessment (KCSA) or Control Sample Testing (CST)

2 Cross team collaboration and leadership skills proactive engagement with Global Product Ops Heads and all responsible persons in the unit

3 Effectiveness of the control and monitoring of Operational risk, compliance risk and money laundering prevention at the Segment level, as applicable

4 Timely reporting and escalation of all operational risk exposures

5 Timely communication of changes to the regulatory environment and internal policies from Legal & Compliance and Operational Risk Management Group to the units

Authorities

The Head of Risk & Control has delegated authority to

1 Accept the classification and accurate reporting of operational risk losses and events to accept the appropriateness of the mitigation actions

2 Validate the gross and residual risk assessments

3 Challenge and recommend on relevant business activities where risks are not aligned with control requirements or risk appetite

Reports into Head, Trade Operations, GBS

Apply now to join the Bank for those with big career ambitions

Profile Summary:

Employment Type : Full Time
Eligibility : Any Graduate
Industry : Banking
Functional Area : Banks/Insurance/Financial Services
Role : Risk/Credit/Economic Analyst
Salary : As per Industry Standards
Deadline : 16th Mar 2020

Key Skills:

Company Profile:

Company
Standard Chartered Bank Ltdarfix

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