May 10th, 2023 at 09:58 am
Senior Operational Risk Officer, RC at Standard Chartered Bank
The Duties of the Role
- Managing and keeping an eye on all of the operational risks that the Standard Chartered Group and its companies face because of how business is done in Ghana.
- This includes keeping an eye on the organization’s operational risk profile for the country and working with the business and functions to find important risks that need the attention of management.
Responsibilities
- To make sure that operational risks are properly evaluated, that processes, roles, and responsibilities are clear, that all decisions about risk/return and control cost/benefit are made openly based on a full and accurate evaluation, and that all controls are put in place according to the Group’s standards and the Risk Appetite.
- To make sure that the Operational Risk Framework, all of the policies and processes that go with it, and the Risk Management Framework are well understood and communicated in the country.
- To be the main point of contact for the Enterprise Risk Management Framework and its related Frameworks/Standards/Policies in the country. This includes evaluating the design and operating effectiveness of all controls.
- To make sure that risks of processing failure are actively managed and watched from beginning to end in the country. This includes regular control assessments of the controls that are needed and escalation when necessary.
- Favorable results from external, internal, and regulatory audits, such as no audit fails or “improvement needed” audits, no near misses, and only acceptable results from independent control sample testing.
- ERC acknowledgment that controls have been made more efficient and effective and that operational risks have been reduced, as well as attestation of a full country risk profile and awareness of new risks.
Plan and strategy
- Inform the creation of country business plans by putting the right amount of focus on putting in place strong working environments, within the limits of the country’s risk tolerance, to support business goals.
Use ORF in the country
- Use the gap analysis method to look at how local processes differ from Group Standard Processes and drive the standardization agenda in the country.
- Make sure that all local differences are written down in Country Addenda, approved by the relevant PGC, and fully applied in the ORF. Provide training in country for ERMF/OR&T RFT implementation.
- Moreover, Give training on the One Point Mainstream Risk database (M7) method in the country to everyone who has a stake in the country.
- Provide a second-line thematic study for the subtypes of the Operational and Technology Risk Type Framework.
- Assurance of the accuracy of OR&T RTF metrics (KCIs, CSTs, and KRIs) at the country level for all processes
- The Group Risk Assessment Matrix is used to make sure that leftover risk assessments are done every month.
- In addition, Make sure the controls work well and that problems are fixed or reported according to the ORF Hierarchy of Monitoring.
- Find out how the Risk Type framework’s requirements are different. Owners report to the CCRO
- Quarterly guarantee of the country’s process, control, vendor, risk, and system owners
- Keep track of all risks that have reached the Group for acceptance and conditions, as well as any other feedback made to the country about them, from beginning to end.
Risk Management
- Check the country’s operational risk profile every so often to keep it in line with your risk tolerance. Change the controls as needed to account for both internal and external forces.
- Then, Provide a central point of contact and oversight of all controls needed to handle operational risk in the country that comes from end-to-end processes.
- Also, Design, manage, and successfully communicate operational risk controls, such as control standards, risk exposure limits, and other control levers, to keep the country’s risk profile in line with the overall risk appetite.
- Lastly, Challenge the completeness of risk identification, monitoring, and assessment of the control actions needed for the end-to-end processes in order to find and fix any major problems.
Governance
- Align the method of managing operational risks in the country with the Operational Risk Framework and the Enterprise Risk Management Framework, and make sure it is used correctly.
- Make sure that the people in charge of the business, the people in charge of the functions, and the appropriate staff know and agree to their operational risk management responsibilities.
Regulatory and Business Conduct
- Respect the Group’s Values and Code of Conduct.
- Take personal responsibility for ensuring Standard Chartered Bank employees maintain the highest ethical standards in business and regulation. This involves learning and following all laws, rules, standards, and the Group Code of Conduct in word and spirit.
- To achieve Bank Conduct Principles results: Fair client results; efficient financial markets; preventing financial crime; the correct environment. Find, escalate, mitigate, and solve risk, behavior, and compliance concerns together.
Key stakeholders
- Country Heads of Operational Risk/SOROs in the Cluster/Region and Globally (Senior) Operational Risk Officers in the Region
- Heads of Country Businesses
- Country Heads of Function
- Group Operational Risk Country and Group Internal Audit Team External Auditors and Regulators
- CPO/RFO/ORO Country/Cluster/Regional
The Perfect Candidate
- Operational risk management skills.
- Business/function knowledge.
- A clear idea of how the Bank handles operational risk, or the same kind of experience from working in other places.
- Ability to use tools from all over the organization to get things done.
- To be in charge and keep good working relationships, you need to have good judgment and guts.
Role Specific Competencies
- Operational Risk Risk Management
- Business Partners with a Good Name
- Manage Projects
How to Apply for Senior Operational Risk Officer at Standard Chartered
Closing Date: 16th May 2023
Also, For more Job Opportunities CLICK HERE
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