Head, Trade Business Risk, UAE & MENA

Accounting / Finance Banking Full Time

Website Standard Chartered

Standard Chartered PLC is listed on both the London Stock Exchange and the Hong Kong Stock Exchange and is consistently ranked in the top 25 among FTSE-100 companies by market capitalisation. Standard Chartered has a history of over 150 years in banking and operates in many of the world's fastest-growing markets with an extensive global network of over 1,400 branches (including subsidiaries, associates and joint ventures) in over 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.

Head, Trade Business Risk, UAE & MENA

Job: Operations
Primary Location: Africa & Middle East-United Arab Emirates-Dubai
Schedule: Full-time
Employee Status: Permanent
Posting Date: 14/Oct/2022, 4:44:08 PM
Unposting Date: 29/Oct/2022, 4:29:00 AM

Strategy

The Cluster Trade Business Risk is entrusted to ensure the Trade teams (front to back) in the Cluster operate in full compliance with all Country and Group policies as well as local regulatory requirements, through

  • Act as the voice, eyes and ears of the Head Trade Business Risk, AME, for all matters related to Risk for the region
  • Co-ordinate and effectively communicate the implementation of new developments, regulatory initiatives and policy roll outs to impacted Trade staff and processes within the Region.
  • Effectively manage the entire Risk Management agenda for Trade within the region, along with ensuring targeted Front to Back peer reviews, and the proactive rippling of peer review and audit findings
  • Responsible for ensuring that there is a framework in place for the timely identification, assessment, mitigation, reporting and escalation of Risk exposures for Trade in the Cluster. Assist in the identification and escalation of thematic and horizon risks and the implementation of appropriate controls to mitigate those risks. Be the ‘go-to’ person for the business with regards to the escalation of all operational risk-related incidents/queries/events that arise within the region
  • Effectively manage the Risk agenda for Trade in the cluster across multiple risks types – financial crime, fraud, ICS, data quality, operational risks etc. Ensure that all material country and generic risks are identified, assessed, mitigated, monitored and reported to relevant governance forums, in country, cluster and group, and ensure that all practical efforts are taken to ensure a satisfactory (impeccable) auditable environment at all times
  • Work with key stakeholders centrally, regionally and in countries to drive a strong risk management culture across business and operations. Actively manage stakeholders from first, second and third lines of defence.  Provide structured guidance towards improving MCA ratings in all countries and Group and drive first line ownership of risk
  • Ensure that the TB Conduct plan metrices are finalised. Support the stakeholders in terms of any inputs required related to the Conduct Plan/Conduct Metrices. If a Conduct Risk is identified unique to your cluster / country, communicate the same to relevant TB Cluster Heads to see feasibility for inclusion in the conduct plan.
  • Oversee the effective design and execution of controls within the Cluster, including identification of gaps and remediation of issues, elevating residual risk where appropriate
  • Work with Cluster teams and Group to drive hubbing of control checks where feasible, ensuring continued Cluster oversight and ownership of hubbed checks and processes
  • Identify opportunities to improve the effectiveness of the Trade Risk function within the cluster, including the proactive management of control-check hubbing (while retaining country oversight and ownership of hubbed checks and processes), and driving the ongoing ORF rollouts and the rationalization of existing checks for Trade. Additionally, drive and support best practice and create efficiencies, including in the areas of EORP logging, data accuracy, standardisation and reduction of BORF packs, issue identification, etc
  • Manage the front to back peer review process and prioritization for Trade in the Cluster. Ensure and conduct the appropriate level of peer review, audit and risk event ripples to countries to support development of best practice awareness, including, where appropriate to cluster outside of Trade via the Global Trade Risk and Governance Head
  • Provide inputs to the Head Trade Business Risk, AME and the Trade NFRCs related to risk in the cluster, escalating issues, concerns or events as appropriate. Leverage NFRCs and other relevant risk committees to reinforce risk issues and awareness as relates to Trade in the cluster
  • Own the rollout of relevant Group policies across Trade in the cluster.  Interact with policy and process owners, as well as relevant business Risk Head(s) to ensure that what is finally agreed is fit for purpose, and practical to implement.
  • Oversee the management of Risk Events in the cluster, driving the right level of awareness, clarity and transparency with regards to the creation of Risk Events on EORP and the production of Risk Cause Reports for the Cluster. Tightly govern delivery of all remedial actions to plan
  • With the Cluster teams, challenge processes, procedures and policy where there is a more effective way of doing things.

Business

Pro-active Risk Management

  • Perform risk reviews and end-to-end process reviews in collaboration with the units and the GBS teams.
  • Analyse process and explore the possibilities of automation and process reengineering/ enhancement on the ground where possible.
  • Conduct Cluster governance reviews to ensure effectiveness and robustness of the country’s governance activities and control environment.
  • Assist in the identification and escalation of thematic and horizon risks and the implementation of appropriate controls to mitigate those risks within the Cluster.  Be the ‘go-to’ person for the business with regards to the escalation of all operational and other risk-related incidents/queries/events that arise within the Cluster.
  • Ensure the countries under you cluster are always ready to handle any reviews and user understand the risk very well.

Processes

Risk Identification and Control Effectiveness

  • Responsible for supporting the unit in the timely identification, assessment, mitigation, reporting and escalation of all identified Operational Risks.
  • Assist in identification of operational risk for new/amended products, projects, regulation, etc. and implementation of appropriate controls to mitigate those risks.
  • Liaise with unit as required to ensure that Residual Risk Acceptance Requests (RRARs) are completed for material risks or control failures identified and passed to Senior Operational Risk Officer (SORO) for review before submission to the relevant approving authorities and tabled at appropriate forums/committees.
  • Assist the unit in the management and implementation of the ORF and other relevant OR-related initiatives, including ensuring proper functioning of embedded and periodic controls.
  • Monitor the implementation, execution, and outcome of the Control Sample Testing (CST) process, results of any Key Risk Indicators (KRIs), and Key Control Indictors (KCIs) to ensure compliance with agreed control standards.
  • Oversee risks in the risk tracking system (EORP) and responsible for ensuring the quality of information being recorded as well as ensuring data accuracy, completeness and timely resolution.
  • Determine effectiveness/ ineffectiveness of defined prevalent controls and control testing through independent validation.
  • Review the ORF results and arrived on the action plan for reducing residual risk rating and mitigating repetitive failure /exceptions.

Loss Reporting and Investigation

  • Support the unit in minimizing operational losses and issues, and ensure operational losses are investigated to prevent recurrence.
  • Drive the root cause analysis discipline, validate the content before submission and track the treatment plans until closure. Ensure that significant operational losses are escalated with appropriate root cause review completed.
  • Oversee the recording of operational errors that occur within the unit that result in financial losses, gains, near misses, or non-financial damage.
  • Oversee and have a 2nd line view on the unit reconciliation on a monthly basis of all operational losses records in the risk management system versus GL entries to ensure that all losses / recoveries are correct and/or accounted for on both sources.
  • Ensure units have obtained the relevant approvals for losses in line with delegated authorities granted

Risk Management through Standardised MI

  • Review, analyse and initiate actions in coordination with the respective unit based on Standard MI e.g. KRI, EMF, Reconciliation Scorecards, ORF Results, etc.
  • Review weekly reports circulated by Central Team on issues and incidents logged in EORP and ensure information on EORP is kept up-to-date.
  • Monitor whether COPMAN Controls adhered to, review the type of exceptions and analyse with the team.
  • Monitor/review COPMAN Controls through spot checks – management of exceptions and feedback to line managers.

People and Talent

  • Lead through example and build the appropriate culture and values. Sets appropriate tone and expectations for the team and work in collaboration with risk and control partners.
  • Lead and support a change in mindset, building a culture of client centricity, agility, and accountability through standardised metrics and measurement.
  • Employ, engage and retain high quality people such that the team is skilled and experienced to deliver its obligations.  Ensure succession planning for critical roles.
  • Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those objectives and responsibilities.
  • Review team structure and capacity plans in accordance with change in business structure and demand..

Regulatory & Business 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.
  • Create a climate where risk issues are surfaced without fear and resolved as part of our culture.
  • Balance business performance delivery and cost management constraints with risk and control matters to ensure that they do not materially threaten the group’s ability to remain within risk appetite.
  • Embed the Group’s values and code of conduct. Develop a robust culture to ensure adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees.

Key Stakeholders

  • Global Trade COO, Global TB Risk and Governance Head, Regional Trade COO, Regional Trade Head, Regional / Cluster COO , Global Head of Trade Technology, Global Trade Operations, Global Trade Product, Regional and country risk framework owners

Other Responsibilities

  • Leverage the opportunity provided by Corporate Social Responsibility to enhance the Group’s internal and external reputation and indirectly influence the bottom line.
  • Promote the Group’s brand and Here for good with employees, clients and regulators.
  • Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
  • Maintain effective communication with key stakeholders, including regulators and staff.

Our Ideal Candidate

  • Academic or Professional Education/Qualifications; University educated
  • Licenses and Certifications/accreditations; none additional
  • Professional Memberships; relevant memberships to be agreed
  • Bank training; none additional
  • Languages; English

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 www.sc.com/careers

To apply for this job please visit scb.taleo.net.

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