About Standard Chartered We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.
To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and never settle - as well as our brand promise, Here for good.
We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.
Role forms part of the 1 st line of defence Operational Risk function, focussed on driving risk assurance and governance across the Financial Market Operations functional streams and Balance Sheet Substantiation.
Standard Chartered Bank (SCB) has a dedicated Financial Market Operations which supports market clients and products within Corporate & Institutional Banking (C&IB). FM Operations (FMO) has responsibility for the execution, control and continuous improvement of processes to support our Products & Clients.
Overview of Reconciliation process and its interaction with the Substantiation process.
Maintain end to end view of Substantiation and Reconciliation controls, setting standards and enforcing best practice. Where manual reconciliations or controls exist, manage roadmap to full automation.
Ensure appropriate key controls (KCIs, CSTs, KRIs) are present in the Operational Risk Framework (ORF) with periodic reviews conducted.
Liaise with Product Control (PC) and Finance on BSS findings, ensuring Operations functions are escalating when provision or balance sheet adjustment is required.
Assist with FCS substantiation process on an advisory / best practice basis.
Liaise with Audit teams when required.
Risk Identification and Assessment
On a regular basis challenge Account Owners to provide evidence of substantiation and ensure this covers the full suite of accounts over a pre-defined period.
Where gaps are found assess the status of the risk with both Operations and PC and report accordingly. Be prepared to challenge the Risk Status and escalate. Ensure these gaps are tracked until closed.
Monitor the ageing of breaks with aim to reduce acceptable timeframe to industry standards.
Analyse and determine improvements to Operational and Reconciliation processes to ensure process failures do not re-occur.
Assess periodically FMO's operational risk profile and maintain alignment with risk appetite by rebalancing of risks or controls that may be required in response to internal and external factors.
Ascertain and confirm that KRIs, KCIs and Key Control Self-Assessment (KCSA) or Control Sample Testing (CST) as approved, are effectively implemented and completed.
Monitor treatment plans relating to BSS or reconciliations to ensure they are implemented accordingly by the business - i.e. stemming from Risk Acceptances (RAs), Root Cause Reviews (RCRs) or other operational risk events / issues
Proactively communicate and collaborate on remediation for risk or issues that arise with the Group Process Owner, Regional and Country Heads
Ensure operational risk issues are accurately classified, recorded and reported with appropriate risk treatment plans in line with Operational Risk policy. Ensure appropriate escalation to internal stakeholders and risk committees.
Validate the classification and accurate reporting of operational risk losses relating to BSS or reconciliations.
Provide Monthly Attestation to PC/Finance for non-FCS accounts.
Facilitate units in conducting Root Cause Analysis (RCA) for relevant events.
Provide risk information/updates to functions/domains/country/group forums as appropriate.
Ensure new risks or elevated residual risk within processes are escalated by the business as per the Operational Risk Policy, i.e. via a Residual Risk Acceptance if required
Actively participate and contribute to the monthly FMO Risk and Control Forum
Creation and input of the FMO BSS / Recs dashboards into the monthly FMO / Finance meeting.
Our Ideal Candidate
Finance/Accounting Knowledge: Be a subject matter expert within FMO for the Balance Sheet Substantiation. To provide training and guidance to the various functions.
Delivery Focussed: Ability to work individually and independently to complete set tasks within agreed timeframes. Trustworthy individual capable of high-quality deliveries within a large portfolio of activities. Ability to be a team player as Global role will require good communication skills.
Change Management: Detailed and analytical with a mindset to challenge status quo.
Risk Management and Control: The ability to identify, assess, monitor, control and coordinate mitigation of risks within the Operations function. Awareness of the wider Risk and Control environment and the challenges facing product, process and function heads. Familiarity with operational risk framework control and risk metrics.
Product Knowledge: Strong understanding of the various functions within operations. Key familiarity with FX / MM / Derivatives and Commodities products, lifecycles and accounting flows (the product list is non-exhaustive).
Operations Risk Management: Strong understanding of risks associated with operational processing and common controls used within Operations to mitigate risks.
Stakeholder Management: Capable individual with good interpersonal & networking skills. Good judgement on what to escalate and to whom.
Communication: Clear and concise communicator capable of discussing risk and control issues with senior operations stakeholders. Ability to present metric information to highlight key messages to senior operations stakeholders.
Apply now to join the Bank for those with big career ambitions.
Internal Number: 6376665
About Standard Chartered Bank Malaysia Berhad
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