Director, Operations, Technology & Cyber Risk (Mumbai, IN)

Standard Chartered

Location: Mumbai, Maharashtra, India
Job type: Full-time

Required skills

banking
change management
compliance
end-to-end
Root Cause Analysis

About the role

Job Summary

Strategy
• To uphold the integrity of the OTCR risk / return decisions in Country and in particular for ensuring that OTCR risks are properly assessed that risk / return and control cost / benefit decisions are made transparently on the basis of this proper assessment and are controlled in accordance with the Group’s standards and its Risk Appetite.
• To ensure OTCR related Framework, Standards and policies issued under Enterprise Risk Management Framework (ERMF) are effectively embedded and communicated in Country.
• To provide a focal point of control over the aggregate level of OTCR in country and cluster that arises from end-to-end processes, including the design of effective controls and the systematic monitoring of process control effectiveness.
• To ensure risks pertaining to OTCR L2/L3 risks (as RFO) are being actively controlled on an end-to-end basis in Country.
• To ensure that local regulatory requirements are met as they pertain to OTCR risk management, prudential standards and governance, conduct and OTCR standards.
• Represent OTCR in Forums presenting an overview of OTCR as well as highlighting significant items that need escalation to the local country management and Board, Cluster and Group.
• Participate in OTCR Coverage lead-initiatives including undertaking assurance and OR framework effectiveness reviews, preparing risk analytics and other activities that will enable driving consistent set of operational risk management practices across the cluster.
• Provide support and completion of Country Regulatory reporting obligations (including Risk Committee, Board Risk Reporting etc.)
• Conduct, at least annually and with guidance from Group & Country specialists, stress test (ie. ICAAP) and scenario analysis to review the limits of regulatory and economic capital and identify material exposures to losses.
• Share and embed OTCR best practices within Country.

Key Responsibilities

Business
• Appraise and contribute to the development of the Bank's strategic plans and alignment with risk appetite by providing OTCR support to Chief Risk Officer, other executive risk forums relevant for the country.
• Engage relevant stakeholders (e.g., Business partners, Finance, Legal and Compliance) to raise awareness of OTCR and how these are managed in country.
• Identify and report key risks material to Country and challenge the First Line to evidence that the material risks arising from their business activities have been identified, assessed, monitored and reported.
• Ensure that risk decisions are transparent and supporting rationales are explained in a professional & courteous manner, especially when turning down proposals.
• Actively engage regulators – take the lead to understand and shape their expectations.
• Ensure that OTCR risk measurement methodologies are fit-for-purpose, comprehensive and implemented with integrity.
• Continuously enhance risk measures and transparency.
• Forward looking, taking into consideration to external events which may be material to the Country. Ensure appropriate management action is being taken to mitigate their impact.

Processes
• Control portfolio within the set risk parameters to ensure risk profile within risk tolerances.
• Engage with Cluster OTCR Lead on a periodic basis to review the OTCR profile of each country from a completeness and consistency perspective.
• Participate in Cluster activities including undertaking peer reviews, preparing Risk analytics and other activities that will enable driving consistent set of practices across the Cluster and thereby exploring opportunities to promote efficiency in usage of Risk resources.
• Identify training needs for OTCR staff in the country and collaborate with Group OTCR in an effective manner to enhance the skill-set available within the country to discharge their roles in an effective manner.
• While Group OTCR will continue to provide OTCR related Policy & Standards clarifications, this role must provide practical implementation guidance to enable Risk staff to implement Policy/ Standards prescriptions in an effective manner within the country.
• Engage in two-way communication with Cluster OTCR Lead to ensure that the country risks are rightly represented in the Cluster Forums and the specific actions of such Forums adequately conveyed to country for execution of appropriate actions.
• Define key risk metrics for every country derived from OTCR related Policy/ Standards and continually track country performance on such metrics. Escalate concerns, if any, identified through such tracking to appropriate bodies either in the Country or the Cluster.

People and Talent
• Lead through example and build the appropriate culture and values. Set appropriate tone and expectations for teams and work in collaboration with risk and control partners.
• Ensure the provision of ongoing training and development of people and ensure that holders of all critical functions are suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
• Uphold and reinforce the independence of the OTCR function from those whose primary responsibility is to maximize short term revenues and profits.

Risk Management
• Take ownership for all Second-Line accountabilities within the OTCR related RTFs and the Enterprise Risk Management Framework (“ERMF”), as they pertain to Country, seeking to deliver the same effectively and efficiently.
• Expert for Country on OTCR L2/L3 risks where designated as RFO. For specialist areas (Transaction processing, Third party, Resilience, ICS and Technology), consult the relevant Group SME teams for expertise/guidance.
• Ensure immediate escalation by country to Group of material OTCR risk events and locally to regulators as required by local regulations.
• Drive comprehensive, high quality root cause analysis of material OTCR risk events and agree risk management action plans with Country al Process Owners
• Ensure new activities, changes to processes and products conform with the Change Management Policy, and the Product Governance Policy. Review and approve related assessment and addendum in line with existing OTCR standards.
• Periodic oversight of inherent and residual risk ratings and risks requiring escalation under the Risk Control Self-Assessment (RCSA) Framework within the OTCR related Policy & Standards.
• Embed OTCR related policies, ensuring first and second line are aware of and understand their responsibilities under them.

Risk Appetite
• Review and challenge the country strategy where it is not aligned with the country risk appetite.
• Maintain OTCR risk capability and a control environment which is in line with the OTCR related Frameworks.
• Assess periodically the Country OTCR risk profile.
• Conduct, at least annually and with guidance from Group & Country specialists, the Risk Appetite Refresh for OTCR and monitor the approved metrics on ongoing basis and escalate incidents of breach to respective Committees.

Risk Ownership
• Provide a central contact point and oversight over all controls required to effectively manage OTCR risks within Country that arises from the end-to-end processes.
• Challenge the completeness of risk identification, monitoring and assessment of the corresponding control activities required within the end-to-end processes as undertaken by the country to identify and follow through the remediation by the 1st line owners of any significant deficiencies.
• Ensure compliance with the OTCR related Framework, Policies and Standards

Risk Governance
• Align the in-country OTCR management approach to the OTCR related RTF and oversee its effective application.
• Ensure that the Country OTCR as well as relevant staff understand and accept their OTCR management responsibilities.
• Represent the Country in terms of OTCR in relevant Risk Forums.
• Support training initiatives from the group OTCR, wherever required.
• Ensure the country OTCR are effective in identifying, monitoring, managing, remediating, and escalating risks and issues.
• Maintain an open and cooperative relationship in dealing with the regulators in-country.
The performance of the OTCR Coverage will be measured by:
• No significant findings identified by GIA/regulatory/external audit reviews on adherence to OTCR related RTFs, Policies and Standards.
• Effective delivery of Group OTCR commitments and 100% commitment to Code of Conduct
• Broad alignment of CRC/ERC/CNFRC with GNFRC within Cluster and Cluster Risk Committee. There must be a general level of acknowledgement that controls have been made more efficient and effective and OTCR risks reduced and attestation to a complete country risk profile and awareness of emerging risks.

Key stakeholders
Internal
• Group, Cluster and Country OTCR team
• Members of Country Management Team
• Members of Country Risk Management Team
• Country Chief Executive Officer
• Country Heads of Business segment
• Country Heads of Control Functions
• Group Internal Audit
• Group SME teams in OTCR

External
• Regulators and Central Banks in Country
• External auditors

Skills and Experience

• Risk – Operational Risk Management
• Risk – Business Partnering
• Risk – Manage Change
• Risk – Communication and Influencing skills
• Manage People

Qualifications

Education
• Operational risk management experience
• University degree in either Banking, Finance or risk management alternatively risk management certification.
Training
• Understanding of Financial Markets and Custody Business is important
Certifications
• Operational Risk Certification
Languages
• English

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 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
Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

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 leave, parental/maternity (20 weeks), sabbatical (12 months 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.

About Standard Chartered

International group providing corporate, retail, and investment banking services.

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