Job Description
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
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
💡 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 Mumbai 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.
