Senior Credit Review Manager, Group Internal Audit
About Standard Chartered
We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.
To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and never settle - as well as our brand promise, Here for good.
We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.
GIA represents the third line of defence and provides independent assurance of the effectiveness of management's control of business activities (the first line) and of the control processes maintained by the Risk Framework Owners and Policy Owners (the second line). GIA works with the Group's other control functions, such as Finance, Risk and Compliance, but does not place unqualified reliance on their work. GIA is an independent function whose primary role is to help the Board and Executive Management to protect the assets, reputation and sustainability of the Group.
As defined in the Audit Charter, all staff in GIA must exhibit the highest level of professional objectivity in gathering, evaluating and communicating information about the activity or process being examined. They must make a balanced assessment of all the relevant circumstances and not be unduly influenced by their own interests or by others in forming judgments. GIA will adhere to the Definition of Internal Auditing, the Core Principles for the Professional Practice of Internal Auditing, Code of Ethics and the Standards for the Professional Practice of Internal Auditing that are published by the IIA. It is expected that all members of GIA strive to operate as role models for the Group's valued behaviours. GIA methodology has defined "Habits of a Human Auditor" which are aligned to the Group's valued behaviours and communicated across the function.
In addition to the responsibilities defined in the Audit Charter, the Senior Credit Risk Review Manager is expected:
• To act as a Team Leader on assigned CRR work involving Credit Risk review ('CRR') for the New York branch. This will entail managing the team working on the CRR to deliver the CRR Planning Memo, Controls Document, agree issues and action plans with management and submission of draft report to the Team Manager for review;
• To act as Team Manager and take responsibility for overseeing the delivery of high quality CRR's, including finalising of issues arising from the CRRs and the issuance of the CRR report;
• To confirm that assigned CRR work, as well as the work carried out by team members is executed in an efficient and effective manner, within the given budget and timelines, and in line with GIA methodology standards.
• To clearly identify the risks and impact of issues during issue writing, agreeing these issues with management and obtaining quality management action plans to mitigate the risks raised;
• To lead continuous monitoring of assigned countries / portfolio areas, and to build and maintain engagement with stakeholders;
• To take responsibility for the design and implementation of department wide exercises such as annual planning, risk assessment and training;
• To support GIA audit teams by providing product/country knowledge and expertise for their audits relating to the individual's area of responsibility;
• To attend and present at formal committees and Group meetings on behalf of the HOA or for their own area of responsibility, as required, e.g. Governance Committees and Country Non-Financial Risk Committees; and
• The individual will support the HOA in their role as the GIA portfolio/country subject matter expert, depending on the skills of the individual.
• Issue validation: all CRR issue action plans agreed during CRR fieldwork should be tracked through to completion in accordance with methodology requirements.
• Support the HOA where required, in the development of the GIA risk assessment and development of an appropriate CRR plan for the HOA's assigned portfolio;
• Support the HOA to confirm that CRRs assigned to the individual in the CRR plan address the key risks identified in the detailed risk assessment and in the review planning process, and meet relevant regulatory requirements and expectations that are required to be covered by GIA;
• Support the HOA to assess the assigned CRR plan to confirm that it remains relevant throughout the year as the risk profile of the business changes. Propose changes as appropriate; and
• Ensure that CRR team operates in line with the Audit Charter during engagements, remains independent from management and free from interference. Business (Budget):
• Assist the HOA to effectively manage the cost of assigned CRRs within the allocated budget for CRR engagements; and
• Identify and implement opportunities for cost savings and optimal productivity of assigned CRR engagements. Credit Risk Review Delivery:
• To act as a Team Lead or Team Manager on assigned work involving Credit Risk Review. This will entail managing the resources working on the CRR to deliver the CRR Planning Memo, Controls Document, agree issues and action plans with management and submission of draft report to the Team Manager for review;
• Provide clear guidance, detailed review and supervision of the CRR team's work so that CRR deliverables meet quality standards and timelines in line with the GIA methodology;
• Provide guidance on business/CRR technical knowledge and management skills to team leaders and team members to enable them to effectively deliver their assigned contributions for a review;
• Provide technical input and challenge on review work being undertaken within the scope of assigned product / country area of responsibility. This will include working with the CRR team to produce high quality outputs which address the risk;
• GIA and CRR methodology should be adhered to in all areas of the review engagement, as well as raising team members' awareness and understanding of the methodology;
• Demonstrate sound knowledge of both business/technical areas and expert knowledge in the CRR process, including the GIA system, to ensure that CRR work is carried out to a high standard that meets all methodology and GIA system requirements;
• Take the lead in presenting the draft report in the CRR report review process (to the tollgate or report approver); and
• Have a thorough understanding of the regulatory landscape and to ensure that all key regulatory concerns are covered in the review scope.
• Monitor the implementation/delivery of the agreed issues/CRR plans for the reviews assigned, understanding the key risks arising, provide advice on resolution of issues to CRR action plan owners and escalate review findings that remain unresolved. Risk Assessment:
• Support the HOA to update the relevant assigned risk assessments as part of the Continuous Risk Assessment on a regular basis so that changes in risk profiles are identified in a timely manner, proposing changes to the assigned CRR plan to the HOA, as appropriate;
• Promote early identification and escalation of risks, issues, trends and developments to relevant stakeholders. Be prepared to raise issues/concerns outside the normal review process;
• Attend relevant meetings relevant to assigned country / product area (e.g. Management Groups and Committees) at the request of the HOA to keep up-to-date on key business matters and provide the right challenge to ensure risks are appropriately identified, discussed and timely remediation plans are put in place;
• Adopt an anticipatory approach to risk assessment through stakeholder engagement and monitoring of the external environment to improve CRR planning; and
• Review MI and reports regularly to keep up-to-date with key trends within the business.
• Establish and maintain effective working relationships with the management of business units which fall under risk assessment responsibility. People and Talent:
• Demonstrate strong leadership and ability to motivate and guide CRR team leaders and members
• Influence change within the department by highlighting potential enhancements;
• Identify growth areas at the start of each review, and discuss with the Team Manager on how best to develop them during the work;
• Provide written performance feedback to team members at the end of a CRR. Review and agree the feedback provided with the Team Manager;
• Identify and successfully complete key internal training for self-development;
• Facilitate the development of CRR team members by providing on the job training and recommending formal training to support GIA activities; and
• Support the HOA to proactively spot talent for GIA. Governance:
• Assist the HOA to manage the relevant Product/Country clients, and establish good working relationships to help the businesses improve the control environment and keep updated with changes in the business impacting their risk profile;
• Propose changes to CRR plans to the HOA, as appropriate, so that the plan remains relevant;
• Lead by example on how to communicate review related matters and resolve any conflict between CRR team and the business being reviewed during a CRR. Use networks and relationships to build engagement and achieve results;
• Delays in the execution of CRR work should be escalated in a timely manner, both to business management and GIA management;
• Be able to clearly explain issues identified along with the risks and root causes to GIA and business management, using language designed to be understood by non-experts; and
• Assist the HOA/ to manage the relevant Product/Country stakeholders, as appropriate, and establish good working relationships to help the businesses improve the control environment and keep updated with changes in the business impacting their risk profile. 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 GIA to achieve the outcomes set out in the Bank's 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.
• Designated business stakeholders, typically related to individual CRR assignments and the assigned portfolio; and
• GIA stakeholders - team leaders, team members, team managers, Product, Functional, Country and Regional Heads of Audit. Other Responsibilities:
• Embed Here for good and Group's brand and values in GIA; and
• Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures. QUALIFICATIONS:
• Experience in audit, governance, risk or in a business environment;
• Professional audit certification preferred
• A seasoned senior credit review specialist, with experience in managing an independent loan review function preferred
• Subject matter expert in Corporate & Institutional Banking business, including credit and operational risks
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