Chief Risk Officer, Head Operational Risk - West Africa & Country Chief Risk Officer at Standard Chartered Bank

Job ID: 544786
Location: Victoria Island, Nigeria - SCB
Regular/Temporary: Permanent
Full/Part Time: Full time

Job Description
Risk Management:

• Appraise and contribute to the development of the Group's strategic plans and alignment with risk appetite through active membership of the Executive Committee and other forums.
• Supervise the Country Risk Managers of the sub-region to inform the development of business plans with the provision of cost and impairment forecasts and a balanced judgment on the external environment.
• Contribute to the development of performance management and remuneration processes, in order to encourage the development of an appropriate risk culture and discipline.
• Maintain the overall Risk Management Framework for the Group and oversee its effective application for countries in the sub-region.
• Ensure that the countries consistently and effectively follow the Group's standard risk committee structure. Wherever possible, attend country risk committees as an observer/ advisor.
• Monitor the performance of Country Risk Managers in ensuring that the business heads, first line process owners and all Risk Control Owners understand and accept their risk management responsibilities.
• Maintain an open and cooperative relationship in dealings with regulators.

Operational Risk:

• To ensure Operational Risk Framework and all associated policies and procedures and the Risk Management Framework are effectively embedded and communicated in country.
• To be the central point of contact for operational risks within the sub-region [Nigeria, Ghana, Cameroon, Cote d’Ivoire, Gambia and Sierra Leone].

Key Roles and Responsibilities
Operational Risk:

• To ensure that operational risks are properly assessed; that processes, roles and responsibilities are clearly understood; that all risk / return and control cost / benefit decisions are made transparently on the basis of a complete and proper assessment, and all controls are implemented in accordance with the Group’s standards and in line with the Risk Appetite.
• To ensure Operational Risk Framework and all associated policies and procedures and the Risk Management Framework are effectively embedded and communicated in country.
• To be the central point of contact for operational risks within the sub-region [Nigeria, Ghana, Cameroon, Cote d’Ivoire, Gambia and Sierra Leone] arising within the processes, including being responsible for the evaluation of the design and operational effectiveness of all controls.
• To ensure risks of processing failure are being actively managed and monitored on an end-to-end basis  in-country; including providing regular control assessments of required controls and escalation in instances.

Strategy:

• Appraise and contribute to the development of the Group's strategic plans and alignment with risk appetite through active membership of the Executive Committee and other forums.
• Supervise the Country Risk Managers of the sub-region to inform the development of business plans with the provision of cost and impairment forecasts and a balanced judgment on the external environment.
• Contribute to the development of performance management and remuneration processes, in order to encourage the development of an appropriate risk culture and discipline.

Business:

• Align strategy of the Risk function with business strategy and risk appetite and supervise the Country Risk Managers in overseeing its execution for the sub-region.
• Maintain and develop risk capabilities, skills and infrastructure to meet ongoing business needs and plans.

Processes:

• Supervise all processes where a member of the Risk function is the identified first line process owner.
• Ensure effective management of Operational risks within the Risk function and compliance with applicable internal policies, and external laws and regulations.
• Continuously improve the operational efficiencies and effectiveness of risk management processes.
• Work collaboratively with Risk Operations and Risk Analytics.

People and Talent:

• Lead through example and build the appropriate culture and values.  Set appropriate tone and expectations from their team 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.
• Employ, engage and retain high quality people, with succession planning for critical roles.
• Responsibility to review team structure/capacity plans.
• Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives
• Employ, engage and retain high quality people in partnership with Group Risk function colleagues.
• Define an organisation structure aligned and scaled to the risk control needs of the countries for the sub-region.
• Uphold and reinforce the independence of the Risk function from those whose primary responsibility is to maximize short-term revenues and profits.
• Ensure the provision of ongoing training and development of the Risk function's people, and ensure that holders of all critical functions are suitably skilled and qualified for their roles.
• Lead through example and embed the Group's values and Code of Conduct in the Risk function to drive adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees.

Risk Management
Risk Appetite:

• Uphold the integrity of investment and credit risk / return decisions through oversight of the Risk function and Risk processes and through membership of key Risk committees and forums.
• Participate in the Group's Senior Risk Coverage Programme as necessary, ensuring delivery against agreed targets, in order to achieve deep knowledge and coverage of the Group's major clients.
• Assess periodically the risk profile for each country and maintain alignment with risk appetite by rebalancing of risks or controls that may be required in response to internal and external factors for these countries.
• Initiate a relevant stress test and scenario programme, review the results and assess their implications for the principle countries.
• Monitor the Business Risk Horizon status, and in consultation with the CCROs and Group Risk function colleagues, influence changes when judged necessary.
• Ensure that effective management response plans are in place to respond to extreme but plausible scenarios.
• Uphold the integrity of risk/return decisions, by challenging business and control function heads to demonstrate that risk origination and control decisions are properly informed and consistent with strategy and risk appetite.
• Direct appropriate response to material events or other risk issues that come to the CRO’s attention. Risk Ownership of Credit, Market, Country Cross-Border, Short Term Liquidity and Operational Risk.
• Develop and maintain risk identification, measurement and modeling capabilities which are objective, consistent and compliant with applicable regulations.
• Ensure that the material risk exposures and related issues are reported to the responsible governance committees and to the Board or Risk committee as appropriate.
• Assign risk authorities to suitable named individuals in line with their skills and judgment.
• Design, maintain and effectively communicate risk control parameters across the sub-region, including policies, control standards, risk exposure limits and other control levers in order to maintain the sub-region's risk profile in line with overall risk appetite
• Maintain a good understanding of the requirements of the sub-region's key external stakeholders in respect of risk management and ensure these are well understood internally and reflected in internal procedures.
• Obtain assurance regarding the effectiveness of controls and compliance with applicable laws & regulations.
• Define and maintain, in consultation with Finance, loss provisioning policies, procedures, delegated authorities and forecasting methods.

Operational Risk:

• Implement ORF in the sub-region
• Ensure that Implementation Oversight Fora are run in country and track milestones to completion.
• Critically assess local deviations from Group Standard Processes and drive the standardization agenda in country.
• Ensure all local differences are documented in Country Addenda, approved by the relevant PGC and fully implemented in the ORF.
• Support in country training for ORF implementation.
• Deliver in country training on Operational Risk Platforms.

Embed use of ORF in the Sub-region:

• Embed Top Risks in metrics and ensure those risks are managed in country.
• Ensure the completeness of the Operational Risk Profile at country level, including consideration of all risks which have been accepted by Group Risk Committee.
• Table the Risk Information Report and Risk management action plans at CORC.
• Recommend and oversee implementation of business restrictions, process and/or control improvements where necessary.
• Plan and deliver scenario analysis and stress tests to CORC.
• Be the focal point for leading Fit for Growth reviews.

Ensure Compliance with OR Policies:

• Ensure immediate escalation to Group and Regional Risk of unsatisfactory operational risk events.
• Drive comprehensive, high quality root cause analysis of unsatisfactory operational risk events and agree risk management action plans with Local Process Owners.
• Ensure new activities, changes to processes and products conform to the Project Governance Policy and the Product Governance Policy.
• Monthly oversight of gross and residual risk ratings and risks requiring escalation under the Risk Assessment and Acceptance Policy.
• Embed new Operational Risk policies, ensuring first and second line are aware of and understand their responsibilities under them.

Deliver Second Line Assurance:

• Assurance over integrity of country level ORF metrics (KCIs, CSTs, KRIs) for all processes.
• Monthly assurance of residual risk assessments using the Group Risk Assessment Matrix.
• Ensure controls are operating effectively and defects are resolved or escalated according to the ORF Hierarchy of Monitoring.
• Identify differences in standards set by Country Risk Control Owners and escalate to RCRO.
• Monthly assurance performed on identified processes and controls mapped under top risks in the country.
• Maintain end to end oversight of all risks which have been escalated to Group for acceptance and conditions and other feedback given to the country about them.

Risk Identification and Assessment:

• Validate and challenge the first line risk identification and assessment of gross and residual risks arising within the end to end processes.
• Assess the control environment including, but not limited to, control design, control execution, control testing and control history.
• Recommend changes to the control environment or to business practice where necessary to reduce the level of operational risk exposure to within the agreed appetite. Ensure such changes are agreed with global process owners and global OR Officer for that business/function prior to in country implementation.
• Review the design of effective process controls by first line to manage all material risks linked to the process control failure.
• Identify Local Control Gaps - Regularly assess all key controls against the country risk profile to monitor exceptions and identify gaps.
• Optimise portfolio of local controls - Regularly assess existing Local Key Control Standards, key risk indicators (KRIs) and key control indicators (KCIs) to ensure cost effectiveness, efficiency and relevance.
• Provide a balanced and informed assessment of all operational risks arising from acquisitions or major change initiatives or projects within the country.

Risk Appetite:

• Periodically assess the country operational risk profile to maintain alignment with the risk appetite. Redesign controls as required in response to internal and external factors.
• Review and challenge country strategy where this is not aligned with the risk appetite.
• Maintain Operational risk capability and a control environment which is in line with the Operational risk.

Risk Acceptance:

• Review and approve risk record templates for acceptance of medium, high and very high Group level risks.
• Accept the classification and accurate reporting of Operational risk events and the appropriateness of mitigation actions.
• Challenge and constrain relevant Business/Functions’ activities where risks are not aligned with control requirements or risk appetite.
• Sign off on new products on behalf of Operational Risk through the Country Addenda process.

Governance:

• Maintain the overall Risk Management Framework for the Group and oversee its effective application for countries in the sub-region.
• Ensure that the countries consistently and effectively follow the Group's standard risk committee structure. Wherever possible, attend country risk committees as an observer/ advisor.
• Monitor the performance of Country Risk Managers in ensuring that the business heads, first line process owners and all Risk Control Owners understand and accept their risk management responsibilities.
• Maintain an open and cooperative relationship in dealings with regulators.

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.
• Lead the countries in the sub-region to achieve the outcomes set out in the Bank’s Conduct Principles:  Effective Operation of Financial Market; The Right Environment.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Qualifications and Skills

• 10 years experience of functional risk experience in the areas of Operational Risk (preferably), or Retail Risk / Corporate, Institutional & Commercial Clients Risk / Market Risk / GSAM. Degree in Business Administration, Finance or accounting or equivalent.
• Licenses and Certifications/accreditations; i.e. internal & external - Knowledge in Finance, Business or accounting courses and certifications
• Professional Memberships; i.e. required for roles for continuous development/ improvement/awareness of current practices etc: Member of regulated accounting Bodies and or Risk professional bodies.
• Bank training; i.e. mandatory & developmental: Good knowledge and grasp of banking practice, financial markets, Basel II and products at a higher level and awareness of the country regulatory framework
• Languages: English (Good communication skill; both written & oral skills).