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Operational Risk Officer At Standard Chartered Bank

Date Posted: 29/Nov/2013
Deadline: Not Specified

Job description



Implement & Monitor ORMAF

1.Ensure adherence to the ORMAF in the identification, assessment, mitigation and control and monitoring of risk. Ensure sufficient traction and follow through management actions to mitigate identified operational risks exposure.

2.Ensure that relevant Group and Business policies are effectively embedded within business unit. Facilitate the implementation of key control standards (KCS), related key control self-assessment (KCSA), key risk indicators (KRI) and monitoring plans for compliance and operational risk management.

3.Ensure consistent deployment and execution of KCS, KCSA and KRI within Business Unit.

4.Ensure losses, risk events, policy deviations, KCSA & KRI exceptions, are recorded, reviewed and reported. Engage appropriate stakeholders to ensure timely remedial actions and escalation of situations that pose significant risk.

5.Assist Business Unit Head and SORO in the implementation of OR framework or other relevant OR initiatives.

Exposure Review / Investigation

6.Participate in the investigation / review of negative operational risk exposure (internal and external) as it arises.

7.Value-add to the business unit by identifying new, thematic and developing risks, providing operational risk advice through ORMAF and ad hoc reviews (Accountability reviews, Lessons Learnt reviews, Process / Control reviews) at the unit level or participating in reviews driven by the Group Business level based on thematic issues using forward looking based programmes.

Design and Setup

8.Assist in identifying risks in product process changes. Ensure that the operational risk implications of changes (Product Approval Document) are anticipated and clearly signalled to appropriate stakeholders. Escalate to appropriate stakeholders when operational risks threaten to breach tolerances.

Engaging the Business

9.As a key member in the monthly BORC meetings, to review and monitor OR Profile and exposure of the business unit.

10.Prepare Value Stream OR Profile with appropriate analysis, relevant loss and risk reporting for the BORC, CORC, CB Group PGC. Ensure timely, accurate submission of risk information to Country SORO and Functional SORO. Escalate material and significant risk/loss events to Group CBOR immediately.

11.Manage Responsible Persons (RP) to ensure adequate staffing and implementation of 1st line controls and assurance.

12.Facilitate the socialisation of audit / control issues in country CB.

Others

13.Coordinate training efforts to promote risk management and compliance culture within the Business unit. Ensure gaps are identified and staffs are suitably trained on operational risk and compliance.

14.Ensure proper follow up of issues raised by Audit.

15.Ensure risk and loss information are inputted into Phoenix, and escalation where action is not taken.

KEY RELATIONSHIPSFOR
INTERNAL

*SORO and Responsible Persons undertaking business monitoring in various units.

*Business Unit Heads, T&O ORO and Managers in various divisions of the Bank (within and outside the country)

*Country Head, Legal & Compliance and Compliance Managers/Officers

*Regional and Functional Senior Operational Risk Officers.

*AML CDD Advisor

*Country GIA

*Relationship Managers

*Credit approvers

*CRC

EXTERNAL

*External Auditors
*Regulators
*Customers

§Operational risk management, money laundering prevention, compliance and financial crime issues.

§Operational Risk exposure over new products launch, processes & regulations changes, system Implementation & enhancement.

§Interpretation of and consultation on regulatory requirements.

§Coordination on business unit’s processes and issues related to Money Laundering Prevention

§KCSA execution and review, and loss / risk reporting.

§Coordination in audit reviews and issues tracking

§Inspection and regulatory requirements.

§Credit service delivery

§Product management & development of SME portfolio

KEY MEASURABLES
•Cross team collaboration and leadership skills - proactive engagement with the SORO, Country Business Unit Head, Functional SORO, Country Audit, RPs and all other relevant parties responsible for operational risk and compliance.

•Effectiveness of embedding the ORMAF, implementation of controls for compliance with regulations and Group standards, identification & monitoring of Operational Risk and compliance risk within the business unit level.

•Timely communication and responses to changes in Local and Group regulatory environment (e.g. FSA) and, Group internal policies and standards with operational risk exposure.

•Timely analysis, reporting and escalation of real or potential significant operational risk exposures.

•Satisfactory results on reviews undertaken by 2nd and 3rd lines of defence, local regulators and external auditors.

AUTHORITIES
§In consultation with the Business Unit Heads and SORO, ensure the RPs appointed in the Business Units have appropriate skills and knowledge to fulfil the responsibilities of their job role.
§In consultation with the Business Unit Heads, contribute to the performance appraisal of RPs appointed in the Business Units.
§Access to all documents, transaction records and customer data in the business for risk assessment purposes, with the exception of information governed by specific policy, e.g. Chinese Walls.
§Recommend and implement actions and solutions to mitigate operational risks and enhance compliance at the business unit level.

Key Roles & Responsibilities

Implement & Monitor ORMAF

1.Ensure adherence to the ORMAF in the identification, assessment, mitigation and control and monitoring of risk. Ensure sufficient traction and follow through management actions to mitigate identified operational risks exposure.

2.Ensure that relevant Group and Business policies are effectively embedded within business unit. Facilitate the implementation of key control standards (KCS), related key control self-assessment (KCSA), key risk indicators (KRI) and monitoring plans for compliance and operational risk management.

3.Ensure consistent deployment and execution of KCS, KCSA and KRI within Business Unit.

4.Ensure losses, risk events, policy deviations, KCSA & KRI exceptions, are recorded, reviewed and reported. Engage appropriate stakeholders to ensure timely remedial actions and escalation of situations that pose significant risk.

5.Assist Business Unit Head and SORO in the implementation of OR framework or other relevant OR initiatives.

Exposure Review / Investigation

6.Participate in the investigation / review of negative operational risk exposure (internal and external) as it arises.

7.Value-add to the business unit by identifying new, thematic and developing risks, providing operational risk advice through ORMAF and ad hoc reviews (Accountability reviews, Lessons Learnt reviews, Process / Control reviews) at the unit level or participating in reviews driven by the Group Business level based on thematic issues using forward looking based programmes.

Design and Setup

8.Assist in identifying risks in product process changes. Ensure that the operational risk implications of changes (Product Approval Document) are anticipated and clearly signalled to appropriate stakeholders. Escalate to appropriate stakeholders when operational risks threaten to breach tolerances.

Engaging the Business

9.As a key member in the monthly BORC meetings, to review and monitor OR Profile and exposure of the business unit.

10.Prepare Value Stream OR Profile with appropriate analysis, relevant loss and risk reporting for the BORC, CORC, CB Group PGC. Ensure timely, accurate submission of risk information to Country SORO and Functional SORO. Escalate material and significant risk/loss events to Group CBOR immediately.

11.Manage Responsible Persons (RP) to ensure adequate staffing and implementation of 1st line controls and assurance.

12.Facilitate the socialisation of audit / control issues in country CB.

Others

13.Coordinate training efforts to promote risk management and compliance culture within the Business unit. Ensure gaps are identified and staffs are suitably trained on operational risk and compliance.

14.Ensure proper follow up of issues raised by Audit.

15.Ensure risk and loss information are inputted into Phoenix, and escalation where action is not taken.

KEY RELATIONSHIPSFOR
INTERNAL

*SORO and Responsible Persons undertaking business monitoring in various units.

*Business Unit Heads, T&O ORO and Managers in various divisions of the Bank (within and outside the country)

*Country Head, Legal & Compliance and Compliance Managers/Officers

*Regional and Functional Senior Operational Risk Officers.

*AML CDD Advisor

*Country GIA

*Relationship Managers

*Credit approvers

*CRC

EXTERNAL

*External Auditors
*Regulators
*Customers

§Operational risk management, money laundering prevention, compliance and financial crime issues.

§Operational Risk exposure over new products launch, processes & regulations changes, system Implementation & enhancement.

§Interpretation of and consultation on regulatory requirements.

§Coordination on business unit’s processes and issues related to Money Laundering Prevention

§KCSA execution and review, and loss / risk reporting.

§Coordination in audit reviews and issues tracking

§Inspection and regulatory requirements.

§Credit service delivery

§Product management & development of SME portfolio

KEY MEASURABLES
•Cross team collaboration and leadership skills - proactive engagement with the SORO, Country Business Unit Head, Functional SORO, Country Audit, RPs and all other relevant parties responsible for operational risk and compliance.

•Effectiveness of embedding the ORMAF, implementation of controls for compliance with regulations and Group standards, identification & monitoring of Operational Risk and compliance risk within the business unit level.

•Timely communication and responses to changes in Local and Group regulatory environment (e.g. FSA) and, Group internal policies and standards with operational risk exposure.

•Timely analysis, reporting and escalation of real or potential significant operational risk exposures.

•Satisfactory results on reviews undertaken by 2nd and 3rd lines of defence, local regulators and external auditors.

AUTHORITIES
§In consultation with the Business Unit Heads and SORO, ensure the RPs appointed in the Business Units have appropriate skills and knowledge to fulfil the responsibilities of their job role.
§In consultation with the Business Unit Heads, contribute to the performance appraisal of RPs appointed in the Business Units.
§Access to all documents, transaction records and customer data in the business for risk assessment purposes, with the exception of information governed by specific policy, e.g. Chinese Walls.
§Recommend and implement actions and solutions to mitigate operational risks and enhance compliance at the business unit level.

Qualifications & Skills

-5 -7 years experience in Banking Operational Risk.
-Strong in analytics and communication skills.
-Minimum qualification – Tertiary qualification – not lower than 2nd class . Relevant professional qualifications are added advantage.

In compliance with the National Youth Service Corps (NYSC) Act of 2004, all applicants should ensure that they have completed the mandatory NYSC programme. A discharge certificate will be required as evidence of completion of the programme. Where an exemption has been granted, a certificate of exemption will also be required.

Diversity & Inclusion

Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.

 

Method of Application

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