Standard Chartered Bank Nigeria Job for a Business Operational Risk Manager

Standard Chartered Bank Nigeria – We attract talented individuals. Not
only can they give you the benefit of their experience, they also reveal
a closer, more personal look at the wide range of global opportunities
we offer. At the core of the Group’s people strategy is our focus on
engagement. Engagement is a key driver of productivity and
performance, which creates the foundation of our performance culture. We
encourage and focus on the behaviours that bring out the very best from
every employee, assessing their performance not just on results but on
how those results were achieved. To further embed these behaviours we
have a remuneration programme in place, carefully designed to
incentivise our employees to live our values every day.

Standard Chartered Bank is recruiting to fill the position below:

Job Title: Business Operational Risk Manager
Job ID: 528425
Location: Victoria Island, Lagos
Regular/Temporary: Permanent
Full/Part Time: Full time
Job Description

  • The Business Operational Risk Manager represents the Transaction
    Banking business as a First Line of Defence, implements the Standard
    Chartered Operational Risk Framework (ORF), and supports the Group’s
    Operational Risk strategy and associated operational risk procedures to
    ensure that operational risk is effectively managed at the business unit

Key Roles and Responsibilities
The Business Operational Risk Manager must focus on Transaction Banking controls, governance and supervision at all times, and:

  • Ensure that all material operational risks are identified,
    assessed, mitigated, monitored and reported to relevant governance
    forums, and ensure all practical efforts are taken to ensure a
    satisfactory (impeccable) auditable environment in country, at all times
  • Be the go-to person for the business for all operational risk related incidents/queries/events that arise.
  • Identify non standard processes and ensure appropriate control mechanisms are implemented and/or approved
  • Coordinate with stakeholders in country/countries, across the
    region and group, and with other TB Operational Risk Managers and
    Business Managers, in order to increase transparency and share key
    learnings and best practice
  • Challenge processes, procedures and policy where there is a more effective way to do things
  • Escalate issues, blockages, challenges and trends to the
    Regional Business Head, Product Managers, COOs and TB Country Heads when
  • Monitor the effective communication and implementation of regulatory changes.
  • Manage the Transaction Banking Business Operational Risk Forum
    (BORF) in the country.  Ensure absolute adherence to country BAU OR
    deadlines, and effective business escalation from BORF to the Country
    Operational Risk Committee (CORC), Process Governance Committee, and
    Group Business Risk Committee (GBRC)
  • Effectively manage the FORM agenda in country, along with peer
    reviews in the TB business in the front office. This can, potentially,
    involve travel to other markets (typically within the region), in order
    to conduct reviews and share of best practices
  • Raise Awareness of TB staff across all segments on business
    controls, governance and supervision, and ensure an appropriate culture
    amongst all staff in this regard
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Risk Identification and Control Effectiveness:

  • Responsible for the timely identification, assessment,
    mitigation, reporting and escalation of all identified Operational TB
    Front Office Risk exposures. Assist in the identification of thematic
    risks and the implementation of appropriate controls to mitigate those
  • 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 these are tabled at BORF and other
    governance forums, as appropriate
  • Responsible for recording and maintaining Front  Office risks in
    the risk tracking system (Phoenix).  Responsible for ensuring the
    quality of information being recorded, as well as ensuring data
    accuracy, completeness and timely resolution
  • Drive improvement to OR processes – conduct regular reviews for
    suitability and coverage and propose amendments/enhancements, as
  • Liaise with TB staff as required to ensure that Residual Risk
    Acceptance Requests are completed for material risks or control failures
    identified and passed to Senior Operational Risk Officer (SORO) for
    approval before submission to BORF, for subsequent support and
    acceptance in the CORC, PGC and/or GORC
  • Perform risk assessment and measurement, with deep dives as
    appropriate, to facilitate the implementation of appropriate controls to
    enable the avoidance and/or acceptance of risks, and perform associated
    risk monitoring
  • Assist relevant stakeholders within the business and across
    functions with the management and implementation of the ORF and other
    relevant OR-related initiatives, including ensuring the proper
    functioning of embedded and periodic controls.

Loss Reporting and Investigation:

  • Responsible for recording operational errors that occur within
    the business that result in financial losses, gains, near misses,
    reputational damage or danger to people and/or our reputation. Ensure
    that significant operational losses are escalated with the appropriate,
    detailed and accurate root cause analysis completed
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Leadership Capability:

  • Be the source of reference within the business for facilitating/promoting the understanding of Operational Risk
  • Support TB Country Heads; with appropriate governance metrics;
    in developing high levels of front office awareness and ownership in
    country; and by ensuring operational risks are retained within the
    appropriate risk tolerance
  • Identify and ensure delivery of business level training
  • Develop BORM brand and lead by example
  • Identify knowledge gaps, and recommend relevant business training on Operational Risk.
  • Coordinate and lead the identification, presentation and
    resolution of TB risk issues through local business risk forums (BORF/
    CORC) to ensure there is adequate governance and oversight of TB risk.
    Escalate to product/business PGCs as appropriate

Audits and Reviews:

  • Conduct periodic reviews on Operational Risk controls;
    periodically complete TB Front Office Self-Assurance Framework (FOSAF);
    submit review reports, and follow-up with the business for timely
    closure of any identified risks/issues
  • Ensure and conduct the appropriate level of review findings
    ripples to countries and regions to support development of best practice

External Focus:

  • Ensure timely communication of new/revised external regulations, and internal policies.
  • Ensure deep understanding of the impact of such
    regulations/policies on the local business and adjust controls and
    oversight accordingly

Key Relationships

  • Business Unit Heads
  • Country Audit Team
  • Compliance/FCC Cash Management, Securities, Trade, Physical Commodity Operations and Client Services Group
  • Senior Operational Risk Officer(s)

Qualifications and Skills

  • Minimum of a second class Degree from a reputable university
  • Knowledge of Transaction Banking products essential
  • Sound judgment with critical thinking skills and courage
    necessary to perform a control role and maintain effective working
  • Strong analytical skills, detail-focused with the ability to interpret large amounts of information
  • Problem solving skills with ability to influence at all levels of the business
  • Ability to work independently with minimum supervision
  • Relevant business/function experience in operations, business analysis or project management
  • Clear understanding of the Bank’s Operational Risk Framework or equivalent experience gained in other organizations

How to Apply

Interested and qualified candidates should:
Click here to apply

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