The Role Responsibilities
The Cash Business Risk Manager directs and oversees front to back risks for the Cash Client Journey within Transaction Banking (TB). This covers the 5 epic risks i.e., Loss of Funds, Loss of Service, Loss of Information, Financial Crime Compliance and Regulatory compliance. Reporting to the Business Risk Manager, Cash – ASEAN, this individual manages product risk within the country. Depending on the size of the market there may be support from junior risk managers/RPs. The incumbent will focus on the end-to-end cash client journey risk controls, reporting, governance, and supervision. The primary requirements of the role will be to:
- Act as the voice, eyes and ears of the Head of Cash Business Risk Manager, ASEAN, for all matters related to Risk for the country including processes for the country performed by GBS.
- Co-ordinate and effectively communicate the implementation of new developments, regulatory initiatives and policy roll outs to impacted Cash staff and processes within the country.
- Effectively manage the entire Risk Management agenda for Cash within the country, along with ensuring targeted Front to Back peer reviews, and the proactive rippling of peer review and audit findings
- Coordinate with key stakeholders centrally, regionally and in countries to increase transparency and share key learnings and best practice. Represent the country in relevant Country risk forums and discussions.
- Ensure risks in country addendums and assessed, escalated, remediated and accepted at appropriate levels.
- Ensure all non-standard activities, dispensations and deviations to standards are risk assessed before they are taken on board.
- Ensure root cause reviews are completed for risk events as per policy timelines and are of superior quality. Actions are tracked and taken to closure. Monitoring shared in country TB management forums.
- Drive and manage / participate in the Transaction Banking Country Management Forum. Provide strategic advice to the forums, committees and respective chairperson to reflect accurate view of market and current position. Ensure absolute adherence to country BAU OR deadlines, and effective business escalation from Country Management forum to group refinement committees.
- Develop control enhancements to ensure that any known risks are controlled within acceptable boundaries and consistent standards. Ensure comprehensive business plans and risk mitigating measures are implemented in country which are cost-effective and scalable.
- Manage the Cash Risk Management team within the country, including with regards to management oversight, as a point for issue escalation, and in managing the career development of the team member/s reporting into this role
- Comply with, and cascade, implementation and oversight of TB’s Conduct and Supervision agendas amongst Cash teams in the country ensuring timely and effective delivery against both in line with TB and Cash Scorecard targets towards an enhanced culture of good Conduct
- Oversee the effective design and execution of controls within the country, including identification of gaps and remediation of issues, elevating residual risk where appropriate
- Work with team members and Group to drive hubbing of control checks where feasible, ensuring continued country oversight and ownership of hubbed checks and processes
- Ensure full focus within Cash in country towards compliance with requirements under the Information and Cyber Security Risk Type Framework, in line with Group standards, escalating issues to Group where required
- Own the end-to-end implementation of the operational risk framework, standards, and policies for the Cash client journey in the country.
Key Roles and Responsibilities
- Responsible for ensuring that there is a framework in place for the timely identification, assessment, mitigation, reporting and escalation of Risk exposures for Cash in country. 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 country
- Support Cash COO, Business and Operational Heads within the country / region in developing high levels of front to back risk awareness and ownership across the business. Provide structured guidance towards improving MCA ratings in the country and drive first line ownership of risk
- Identify opportunities to improve the effectiveness of the Cash Risk function within the country, including the proactive management of control-check hubbing, and driving the ongoing ORF rollouts and the rationalization of existing checks for Cash, automation. Additionally, drive and support best practice and create efficiencies, including in the areas of EORP logging, data accuracy, standardisation and reduction of TB Country Management Forum packs, issue identification, etc
- Ensure implementation of, and timely delivery against, TB’s ongoing Conduct Plan within Cash, working with local business and CFCC and with the Group Cash Product and TB other Risk Heads to ensure alignment and best practice sharing with other businesses
- Manage the front to back peer review process and prioritization for Cash in country. Ensure and conduct the appropriate level of peer review, audit and risk event ripples in country to support development of best practice awareness, including, where appropriate to regions outside of Cash via the Head of Cash Business Risk Manager, ASEAN
- Engage effectively with Group TB OR, Compliance, FCC, and Business and TB/Cash Heads to share and drive strategic and governance insights related to risk management. Be the local owner of risk, conduct and supervision communications for Cash
- For Non-hubbed markets: Be Responsible for the implementation and execution of the Control Sample Testing (CST) process, sampling and testing the population of controls to ensure compliance with agreed control standards and facilitating the monitoring/collection of any Key Risk Indicators (KRIs). With the process owner ensure sign off on all new and amendments to existing CST’s and that same are tabled at TB Country Management and other governance forums. For Hubbed markets, ensure timely execution of CSTs and other control monitors, assess the CST results through constant engagement with GBS team.
- Conduct regular dialogue with TB’s audit teams to better understand their focus and view of risk issues relevant to Cash. Work with Country Risk teams and TB/Cash Product and Ops Heads to avoid audit fails and improve results
- Provide inputs to the Head of TB and Head of Cash Business Risk Manager, ASEAN, TB Country Management Forum and the Cash Sustainability and refinement forums, QPR’s (if applicable) related to risk in the country, escalating issues, concerns or events as appropriate. Leverage NFRCs and other relevant risk committees to reinforce risk issues and awareness as relates to Cash in the country
- Own the rollout of relevant Group policies across Cash in the country. 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 country, driving the right level of awareness, clarity and transparency with regards to the creation of Risk Events on EORP and the production of Risk root Cause Reports for the country. Tightly govern delivery of all remedial actions to plan
- Within the team/s, challenge processes, procedures and policy where there is a more effective way of doing things.
- Ensure timely closure of action items and early warnings to manage delays.
- Ensure Third Party risks are managed for the product.
Loss reporting and investigation
- Support the Cash business in minimizing operational risks and losses and ensure material operational losses are investigated to prevent recurrence as per group policy.
- Responsible for recording operational errors that occur within business that result in financial losses, gains, near misses, reputational damage or danger to people or our reputation. Ensure that significant operational losses are escalated with appropriate root cause analysis completed.
- Perform 3-way reconciliation on a monthly basis on all operational losses i.e. GL entries versus EORP system v/s regulatory system (if applicable, e.g. ORION in Malaysia) to ensure that all losses/recoveries are correct and/or accounted for on both sources and the Bank’s books and records.
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.
- Proactive in seeking regular assurance that the Country and Regional R&C teams are performing to an acceptable risk and control standard as per the defined Enterprise Risk Management Framework.
- 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
- Country TB Head, Country Cash COO, Group Cash Product Risk Head, Regional Operations Heads, Country CEO’s, Regional / Cluster COO, Regional Cash Head.
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
- Degree or Professional Education/Qualifications from a recognized University.
- 10+ years of working experience in Banking and/ or financial services.
- Risk management acumen of risk identification, assessment, control design, reporting and governance.
- Working knowledge in Cash Management is preferred.
- Strong communication skills to represent the business in meetings and preparation of committee papers.
- Proactive attitude, fast learning , self-driven and ability to work without supervision.
Role Specific Technical Competencies
- Management of risk: Identification, assessment, remediation, control design, and governance,
- Change Management.
- End to end business risk for TB Cash.
- Business Governance & Support
- Strong communication in meetings and governance papers.
- Management of Frontline Risk
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 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.
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