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Operational Risk Officer, Transaction Banking

Standard Chartered Bank Singapore
Posted 2 days ago Permanent Competitive
Operational Risk Officer, Transaction Banking
Role Responsibilities
The purpose of this role is to act as the point of contact within second-line Group Operational Risk for the Transaction Banking business (the Business) in respect of all Operational Risk matters.
  • This role includes responsibility for monitoring and challenging that the Business meets their obligations under the various Principle Risk Type frameworks, in the context of the Operational Risk Type Framework ('ORTF'), and that breaches / weaknesses are appropriately identified and escalated. This is discharged in part through collaboration with other second-line risk teams (including Operational Risk and COEs) as well as enterprise-wide SMEs.
  • We expect the role holder to demonstrate First line and/or 2nd line SME skills & expertise in one or more of the business process areas of the Business particularly in Operations. Someone who is a demonstrated strong learner and/or well versed with processes and standards management and defining measurable control standards. Preference for candidates who also bring notable, demonstrated strong policy/framework implementation, and change management/project management experience or new age expertise in Information & Cyber Security, Data Analytics and Agile Program Management.
  • Coverage includes all Second Line responsibilities within the Group's Enterprise Risk Management Framework ('ERMF'). This includes oversight, review and challenge of all risk decision making within the Business.
  • The role holder has a responsibility for ensuring full adherence by the Business with the ORTF in particular, as this brings together Second-Line responsibilities across several PRTs, alongside other sub-Risk Types (as defined therein). An understanding of the interplay between the ORTF and all Risk Type Frameworks is a requirement for this role.
  • Operational Risk spans an array of potential for financial loss and negative impact on our clients and providers of capital. A developed understanding of this potential and the business case for minimising loss and impact is a requirement for this role.
  • From a regulatory perspective, both Section 320 of the European Union Capital Requirements Regulation (CRR) and the Bank for International Settlements, Principles for the Sound Management of Operational Risk outline the need for banks to demonstrate the ability to identify their exposures to Operational Risk and have in place an appropriate system of monitoring and control, Understanding this and other relevant regulatory requirements and guidance in respect of Operational Risk is a requirement for this role.
  • Majority of the Group's Operational Risk management is performed and owned in the First-Line, including the Business. The Group's Operational Risk team (whether embedded in Country functions, or housed at a Group-level, collectively 'GORT') is responsible for monitoring and ensuring that Operational Risk is appropriately identified, assessed, understood/calibrated, controlled and managed within the approved Operational Risk Appetite. GORT is also responsible for ensuring appropriate escalation, follow-up and learning from Operational Risk Events / Incidents. GORT, working in partnership with the first line, is responsible for ensuring the adherence to the ORTF. The role-holder is expected to take the lead in delivering on these GORT responsibilities for the Business.
  • The role-holder is required to understand the role and responsibilities of the GORT as a whole and how these are discharged by the team, actively contributing to development and improvement in the same, as well as to remain informed of pertinent industry and organisational developments.
  • Demonstrate deep understanding of the Business strategic priorities to effectively advise and challenge decisions across all relevant Risk Types. Demonstrated experience/SME in an equivalent 1st line/2nd line role managing one or more areas of the Business particularly Operations is a strong plus.
  • Review and recommend resolutions to risk-related escalations from the Business, keeping in mind Operational Risk Appetite thresholds, policies, and procedures. Work with GOR Policy team to clarify / interpret any policy-related matters or queries from the Business.
  • Identify internal / external insights and emerging risks that can impact the Business.
  • Attend relevant Business Risk committees representing Risk in advising, challenging and providing Risk insights to business stakeholders.
  • The role-holder is also responsible for taking a lead in ensuring that the Business adheres to agreed Operational Risk Appetite, including supporting the Business in defining its Operational Risk strategy in conjunction with Group Internal Audit. This includes the challenging of the Business strategy and Corporate Plan and seeking to embed awareness and engagement with all Operational Risk sub-types across the Business.
This will be achieved through partnership, challenge and control as follows:
  • Partnership: Offering general advice on all PRTs and Operational Risk sub-types to key stakeholders.
  • Challenge: Reviewing and challenging the Business's articulation and calibration of Operational Risk - identification of risks and potential points of failure, control design and implementation and continual review of both gross and residual risk assessments.
  • Control: Drive and foster adoption of - and monitor adherence to - the Operational Risk Type Framework - and related Policy and Standards - by the Business, including adherence to clearly defined roles for each of the three lines of defence, supported by appropriately designed training and other awareness/engagement-focused routines.
  • Take ownership for all Second-Line accountabilities within the Operational Risk Type Framework and the Enterprise Risk Management Framework ("ERMF"), as they pertain to the Business, seeking to deliver the same effectively and efficiently.
  • Fully adhere to - and actively contribute to - all agreed governance (e.g. committees) and other routines (regular meetings, attendance at other forums) for the GORT or, where applicable and requested for by the Business.
  • Act as an advocate for the GORT, its objectives and best practice in Operational Risk management more broadly where opportunity arises.
  • Adhere to such other process and governance requirements as requested by line management, from time to time.
Risk Management
  • Ensure all activity adheres to the Risk Management Framework, with a specific focus on ensuring an effective framework for the management of Operational Risks within the team as they pertain to the role.
  • Demonstrate an awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role.
  • Deliver 'effective governance'; capability to challenge colleagues effectively; and willingness to work in an open and collaborative mindset.
Regulatory & Business Conduct
  • Display exemplary conduct and live by the Group's 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.
  • Support the CCIB Operational Risk function to achieve the outcomes set out in the Bank's Conduct Principles.
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key stakeholders

  • Chief Operating Officers - CCIB Transaction Banking & supporting teams
  • Internal Audit
  • Risk Framework Owners
  • Subject Matter Experts (as defined by the Operational Risk Type Framework)
  • Members of the Group Operational Risk Leadership Team and Country OR teams
Other Responsibilities
  • Embed Here for good and Group's brand and values in Group Operational Risk Team.
  • Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
Our Ideal Candidate
The role holder will have experience in Operational Risk management within the Banking industry, including relevant regulation and industry trends. In particular, the role holder will demonstrate:
  • 9+ years of experience in Risk or Transaction Banking.
  • Experience in operations(Trade/Cash)
  • Experience of assurance or audit
  • Ability to manage a diverse and challenging stakeholder community / team
  • Proven experience with co-ordination of many dependencies in a complex, large-scale environment
  • Specific strong competence in the use of Excel for analysis of complex data and PowerPoint for communication purposes
  • Ideally the role holder will have specific experience of Operational Risk frameworks and have an in-depth knowledge of some of the key organisational and operational challenges faced by a Second-Line Operational Risk function.
Role Specific Competencies
  • Risk Management - Operational
  • Risk Management - Reputational
  • Risk - Business Partnering
  • Risk - Process Management
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 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
Job ID  2300009453
London, United Kingdom
85000 Employees Corporate Banking
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 ...
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