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Standard Chartered Bank | Nairobi, Kenya | Log in or register to see the closing date
Business Operational Risk Manager (Financial Markets Kenya)
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- Bachelor's degree
- Accounting, finance, banking, insurance
- Manager (team leader)
- Full Time
The Business Operational Risk Manager represents the Corporate and Institutional Clients (FM) business as a first line of defence, implements the Standard Chartered Operational Risk Framework (ORF), and supports the Group’s Operational Risk policy and associated operational risk procedures to ensure that operational risk is effectively managed at the business unit level. The Business Operational Risk Manager must focus on FM 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.
The ideal candidate should have Knowledge of FM products, 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, Sound judgment with critical thinking skills and courage necessary to perform a control role and maintain effective working relationships, 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.
1. Responsible for the timely identification, assessment, mitigation, reporting and escalation of all identified Operational Risk exposures. Assist in identification of operational risk for new products and new business, regulatory and thematic risks and implementation of appropriate controls to mitigate those risks.
2. Liaise with FM staff as required to ensure that Risk Acceptance Templates (RATs) 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 or GBRC.
3. Be an informer: Identify new business and regulatory risks, perform risk assessment and measurement, facilitate the implementation of appropriate controls to accept risks, and perform risk monitoring.
4. Assist relevant stakeholders within the business and across functions in the management and implementation of the ORF and other relevant OR-related initiatives, including ensuring proper functioning of embedded and periodic controls.
5. 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 BORF and other governance forums.
6. Responsible for recording and maintaining risks in the risk tracking system (Phoenix). 7. Responsible for ensuring the quality of information being recorded as well as ensuring data accuracy, completeness and timely resolution.
8.Drive improvement in OR processes (through process improvement initiatives
9. Support the business in minimizing operational risks and losses, and ensure material operational losses are investigated to prevent recurrence per group policy.
10. 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 reconciliation on a monthly basis on all Phoenix operational losses versus GL entries to ensure that all losses/recoveries are correct and/or accounted for on both sources and the Bank’s books and records.
11. With the Senior Operational Risk Officer, ensure a RCA (Root Cause Analysis) is completed for any audit fail. Contribute towards achieving no fail results all audits and reviews undertaken by Group Internal Audit, Country Audit, regulators and external auditors.
12. Review findings/key themes; assist business to achieve resolution in line with business risk appetite.
13. Conduct periodic reviews on Operational Risk controls; periodically complete FM Front Office Self-Assurance Framework (FOSAF), submit review reports and follow-up with the business for timely closure of any identified risks/issues.
14. Act as coordinator for various internal/external audits/reviews and liaise with various stakeholders to ensure timely and accurate information is provided.
15. Participate in periodic peer reviews subject to business need to ensure consistency of risk management approach and support the business by embedding best practice.
16. Responsible for tracking actions against audits and internal reviews and reporting the status of these actions periodically to the appropriate governance forums.Responsible for tracking the issues raised from business-specific reviews and follow-through to resolution.
General InformationSalary range
: Not specifiedAdditional information
: Not specifiedContract type
: PermanentJob type
: Full TimeLocation
: NairobiArea of work
: Accounting, finance, banking, insuranceSeniority
: Manager (team leader)
Job RequirementsRequired education
: Bachelor's degreeRequired relevant work experience
: 5 yearsRequired skills
: Risk management; Compliance; Business management; Business performance monitoring; Business strategy; Operative planning; Risk analysisRequired languages:
English (Spoken: fluent | Written: fluent)
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