Job Description
The Role Responsibilities
Job Role
The WM COO Manager represents the Wealth Management 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 front office operational risks are effectively managed at the business unit level.
The Business Operational Risk Manager is to focus specifically on the Wealth Management controls, governance, and supervision.
Strategy
• Responsible for understanding the Group's business strategy and its implications for the operational risk management role.
Business
• Continuously evaluate and identify operational risk implications of business strategies and programmes, and provide guidance on any operational risk remediation with support from SORO and respective risk owners.
• Responsible for maintaining an awareness of the wider business, economic and market environment in which the Group operates.
• Responsible for supporting Wealth Management COO initiatives, drive adoption of initiatives at the country level.
Processes
Working with the Senior Operational Risk Officer (SORO), responsible for ensuring Root Cause Analysis (RCA) is completed by process owners for any failed audits and other key risk events. Review audit findings and key themes, assisting business to achieve resolution in line with business risk appetite.
• Accountable for ensuring Risk Acceptance requests are completed by process owners for material risks and control failures identified. Accountable for the provision of these templates to second line operational risk team for review and approval prior to submission to relevant governance forums / committees.
• Responsible for the implementation of the Control Sample Testing (CST) process, sampling and testing the population of controls to ensure compliance with agreed control standards, including facilitating the monitoring / collection of any Key Control Indicators (KCIs).
• Responsible for being key escalation contact for the business for all front office operational risk related incidents and queries that arise, and being a business subject matter expert on Wealth Management processes in this market.
• Ensure risk ownership by Country Process Owners over centrally / GBS performed validation checks is retained at the country level - specifically ownership of residual risk evaluations and associated remediation activities.
• Responsible for ensuring quality of information recorded in the risk tracking system, as well as ensuring accuracy, completeness of data, driving the timely resolution of outstanding actions.
• Responsible for coordinating internal and external audit reviews relating to the area of business - liaising with stakeholders to ensure timely / accurate information is provided.
• Responsible for coordinating with stakeholders in the country and with other Wealth Management operational risk managers to increase sharing of key learnings and best practices.
• Responsible for supporting the business in minimizing operational risks and losses, and ensuring material operational losses are investigated to prevent recurrence.
• Identify non-standard processes within the business, and ensure appropriate control mechanisms are implemented and monitored for effectiveness.
• Responsible for adherence to specified BAU operational risk deadlines.
People and Talent
• Responsible for driving appropriate culture and values within the team. Setting appropriate tone and expectations for the team, working in collaboration with Wealth Management business.
Risk Management
With the guidance and support from Risk Owner and Process Owner, continuously identify and evaluate operational risks arising for new products and new business, regulatory and thematic risks, and drive the implementation of appropriate controls to mitigate these risks in country.
• Responsible for ensuring compliance with policies applicable to Wealth Management which impact operational risk. Challenge processes, procedures, and policy if there is opportunity for improvement.
• Participate in periodic peer reviews, subject to business need, to ensure consistency of risk management approach and support the business in embedding best practices.
• Accountable for the development of control enhancements to ensure any known risks are controlled within acceptable boundaries and consistent standards.
• Responsible for providing guidance to the business on working towards an advanced MCA, driving improvements in year-on-year average MCA ratings.
• Responsible for identifying knowledge gaps, facilitate development of training on Operational Risk for the business.
• Responsible for mentoring Wealth Management staff across all segments on business controls.
• Responsible for speaking out on emerging risks.
Governance
• Responsible for ensuring adequate governance and oversight over operational risk, through the escalation and appropriate resolution of relevant risk exposures to the Country Operational Risk Committee (CORC) and Process Governance Committee (PGC) as required.
• Responsible for escalation of issues, blockages, challenges and trends to the regional lead, COO and business head when required.
• Responsible for the effective running of Wealth Management Business Operational Risk Forum (BORF).
Regulatory and Business Conduct
• Display exemplary conduct and live by the Group's Values and Code of 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.
• Lead to achieve the outcomes set out in the Bank's Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.
• Working with the SORO and country compliance team, review new or revised regulations and implement new control measures and develop risk-based control validation checks for implementation where required].
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Anti-Money Laundering and CDD
Ensure that the Anti Money Laundering requirements are followed as follows
• Take all reasonable steps to verify and identify our customers
• Retain adequate records of identification, account opening and transactions
• Make prompt reports of suspicious transactions using the right internal channels
• Raise awareness of Money Laundering prevention by training all staff / attending training sessions
Key Stakeholders
• Regional BORM / COO / P&G Head / P&P Head / Business Manager
• Senior Operational Risk Officer(s) (SORO)
• Business and Country Compliance teams
• Wealth Management Head in country
• Heads WM business units
• Operations (GBS / GTO)
• Head of BORM
• Internal Audit
Other Responsibilities
• Embed Here for good and Group's brand and values in first line operational risk management.
Our Ideal Candidate
• Master of Science in Finance (Finance and Investment Option).
• Solid knowledge of WM products and operations of branch and other distribution channels
• Relevant business experience in operations, business analysis or project management
• Clear understanding of the Bank's Operational Risk Framework or equivalent experience gained in other organisations
• Demonstrated history of applying sound judgement 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 volume of information
• Strong understanding of risk and control, ability to evaluate and manage multi-faceted risks
• Ability to independently drive initiatives with minimum hands-on supervision
• Problem solving skills with ability to influence across all levels of business.
• CISI Certified- Affiliate member.
Role Specific Technical Competencies
• Manage Conduct
• Manage Risk
• Manage People
• Risk Management - Operational
• Risk Management - Reputational
• Management of front-line 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 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.
Recruitment assessments - some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.
Visit our careers website
Job Role
The WM COO Manager represents the Wealth Management 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 front office operational risks are effectively managed at the business unit level.
The Business Operational Risk Manager is to focus specifically on the Wealth Management controls, governance, and supervision.
Strategy
• Responsible for understanding the Group's business strategy and its implications for the operational risk management role.
Business
• Continuously evaluate and identify operational risk implications of business strategies and programmes, and provide guidance on any operational risk remediation with support from SORO and respective risk owners.
• Responsible for maintaining an awareness of the wider business, economic and market environment in which the Group operates.
• Responsible for supporting Wealth Management COO initiatives, drive adoption of initiatives at the country level.
Processes
Working with the Senior Operational Risk Officer (SORO), responsible for ensuring Root Cause Analysis (RCA) is completed by process owners for any failed audits and other key risk events. Review audit findings and key themes, assisting business to achieve resolution in line with business risk appetite.
• Accountable for ensuring Risk Acceptance requests are completed by process owners for material risks and control failures identified. Accountable for the provision of these templates to second line operational risk team for review and approval prior to submission to relevant governance forums / committees.
• Responsible for the implementation of the Control Sample Testing (CST) process, sampling and testing the population of controls to ensure compliance with agreed control standards, including facilitating the monitoring / collection of any Key Control Indicators (KCIs).
• Responsible for being key escalation contact for the business for all front office operational risk related incidents and queries that arise, and being a business subject matter expert on Wealth Management processes in this market.
• Ensure risk ownership by Country Process Owners over centrally / GBS performed validation checks is retained at the country level - specifically ownership of residual risk evaluations and associated remediation activities.
• Responsible for ensuring quality of information recorded in the risk tracking system, as well as ensuring accuracy, completeness of data, driving the timely resolution of outstanding actions.
• Responsible for coordinating internal and external audit reviews relating to the area of business - liaising with stakeholders to ensure timely / accurate information is provided.
• Responsible for coordinating with stakeholders in the country and with other Wealth Management operational risk managers to increase sharing of key learnings and best practices.
• Responsible for supporting the business in minimizing operational risks and losses, and ensuring material operational losses are investigated to prevent recurrence.
• Identify non-standard processes within the business, and ensure appropriate control mechanisms are implemented and monitored for effectiveness.
• Responsible for adherence to specified BAU operational risk deadlines.
People and Talent
• Responsible for driving appropriate culture and values within the team. Setting appropriate tone and expectations for the team, working in collaboration with Wealth Management business.
Risk Management
With the guidance and support from Risk Owner and Process Owner, continuously identify and evaluate operational risks arising for new products and new business, regulatory and thematic risks, and drive the implementation of appropriate controls to mitigate these risks in country.
• Responsible for ensuring compliance with policies applicable to Wealth Management which impact operational risk. Challenge processes, procedures, and policy if there is opportunity for improvement.
• Participate in periodic peer reviews, subject to business need, to ensure consistency of risk management approach and support the business in embedding best practices.
• Accountable for the development of control enhancements to ensure any known risks are controlled within acceptable boundaries and consistent standards.
• Responsible for providing guidance to the business on working towards an advanced MCA, driving improvements in year-on-year average MCA ratings.
• Responsible for identifying knowledge gaps, facilitate development of training on Operational Risk for the business.
• Responsible for mentoring Wealth Management staff across all segments on business controls.
• Responsible for speaking out on emerging risks.
Governance
• Responsible for ensuring adequate governance and oversight over operational risk, through the escalation and appropriate resolution of relevant risk exposures to the Country Operational Risk Committee (CORC) and Process Governance Committee (PGC) as required.
• Responsible for escalation of issues, blockages, challenges and trends to the regional lead, COO and business head when required.
• Responsible for the effective running of Wealth Management Business Operational Risk Forum (BORF).
Regulatory and Business Conduct
• Display exemplary conduct and live by the Group's Values and Code of 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.
• Lead to achieve the outcomes set out in the Bank's Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.
• Working with the SORO and country compliance team, review new or revised regulations and implement new control measures and develop risk-based control validation checks for implementation where required].
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Anti-Money Laundering and CDD
Ensure that the Anti Money Laundering requirements are followed as follows
• Take all reasonable steps to verify and identify our customers
• Retain adequate records of identification, account opening and transactions
• Make prompt reports of suspicious transactions using the right internal channels
• Raise awareness of Money Laundering prevention by training all staff / attending training sessions
Key Stakeholders
• Regional BORM / COO / P&G Head / P&P Head / Business Manager
• Senior Operational Risk Officer(s) (SORO)
• Business and Country Compliance teams
• Wealth Management Head in country
• Heads WM business units
• Operations (GBS / GTO)
• Head of BORM
• Internal Audit
Other Responsibilities
• Embed Here for good and Group's brand and values in first line operational risk management.
Our Ideal Candidate
• Master of Science in Finance (Finance and Investment Option).
• Solid knowledge of WM products and operations of branch and other distribution channels
• Relevant business experience in operations, business analysis or project management
• Clear understanding of the Bank's Operational Risk Framework or equivalent experience gained in other organisations
• Demonstrated history of applying sound judgement 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 volume of information
• Strong understanding of risk and control, ability to evaluate and manage multi-faceted risks
• Ability to independently drive initiatives with minimum hands-on supervision
• Problem solving skills with ability to influence across all levels of business.
• CISI Certified- Affiliate member.
Role Specific Technical Competencies
• Manage Conduct
• Manage Risk
• Manage People
• Risk Management - Operational
• Risk Management - Reputational
• Management of front-line 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 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.
Recruitment assessments - some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.
Visit our careers website
💡 Quick Summary
Seeking a career-building opportunity? The Associate| Wealth management PP position is now open for candidates interested in the Bank Jobs sector. This role in Chennai offers a professional environment and growth potential.
Requirement Snapshot: Candidates should possess basic communication skills, a proactive attitude, and the ability to work in a team. Experience in Bank Jobs is a plus.
