Country Chief Risk Officer - Standard Chartered Bank

Key Responsibilities

This is an exciting opportunity for a Risk Leader to appraise and contribute to the development of the Group’s strategic plans and alignment with risk appetite through active membership of the Country Management Team and other forums in Ghana.

In this role, the incumbent will be responsible for the following:

Strategy

• Oversee the development of business plans with the provision of cost and impairment forecasts and a balanced judgement on the external environment.
• Contribute to the development of performance management and remuneration processes, in order to encourage the development of an appropriate risk culture and discipline

Business

• Alignment strategy of the Risk function with business strategy and risk appetite in country and oversee its execution.
• Maintain and develop risk capabilities, skills and infrastructure to meet ongoing business needs and plans.

Processes

• Supervise all processes where a member of the risk function is the identified first line process owner
• Ensure effective management of operational risks within the risk function and compliance with applicable internal policies, and external laws and regulations.
• Continuously improve the operational efficiencies and effectiveness of Country risk management processes.
• Work collaboratively with Risk Operations and Risk Analytics

People & Talent

• Employ, engage and retain high quality people.
• Define an organisational structure aligned and scaled to the risk control needs of the Group. Provide leadership level participation in development of the Risk function.
• Uphold and reinforce the independence of the Risk function from those whose primary responsibility is to maximise short-term revenues and profits.
• Ensure the provision of ongoing training and development of the Risk function’s people and ensure that holders of all critical functions are suitably skilled and qualified for their roles.
• Lead through example and embed the Group’s values and Code of Conduct in the risk function to drive adherence with the highest standards of ethics and compliance with relevant policies, processes and regulations among employees.

Risk Management

• Develop and maintain the overall Risk Management Framework for the Bank and oversee its effective implementation
• Maintain a risk committee structure for the Standard Chartered Bank Ghana and ensure it remains effective. Chair the Risk Committee, ensuring that the committee is exercising its responsibilities effectively within its delegated authority. Also actively participate in other key committees through standing memberships.
• Ensure business heads and first line process owners and all Risk control Owners understand and accept their risk management responsibilities.
• Maintain an open and cooperative relationship in dealings with regulators

Risk Appetite

• Uphold the integrity of investment and credit risk/return decisions through oversight of the Risk function and Risk processes and through membership of key Risk committees and forums
• Assess periodically the Country’s 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 for Ghana.
• Initiate a relevant stress test and scenario programme, review the results and assess their implications for Standard Chartered Bank Ghana
• In conjunction with Country Finance, take responsibility for the review and preparation of ICAAP documentation for SCB Ghana
• Monitor the BRH status, and in consultation with the CCROs and Group Risk function colleagues, influence changes when judged necessary.
• Ensure that effective management response plans are in place to respond to extreme but plausible scenarios.
• Uphold the integrity of risk/returns decisions, by challenging business and control function heads to demonstrate that risk origination and control decisions are properly informed and consistent with strategy and risk appetite. Direct appropriate response to material events or other risk issues that come to the CRO’s attention. Risk ownership of credit, Market, Country Cross-Border, Short-Term Liquidity and Operational Risk.
• Develop and maintain risk identification, measurement and modelling capabilities which are objective, consistent and compliant with applicable regulations.
• Ensure that the material risk exposures and related issues are reported to the responsible governance committees and to the Board or Risk committee as appropriate.
• Assign risk authorities to suitable named individuals in line with their skills and judgement.
• Design, maintain and effectively communicate risk control parameters across the country including policies, control standards, risk exposure limits and other control levers in order to maintain the Country’s risk profile in line with overall risk appetite.
• Maintain a good understanding of the requirements of the country’s key external stakeholders in respect of risk management and ensure these are well understood internally and reflected in internal procedures.
• Obtain assurance regarding the effectiveness of controls and compliance with applicable laws & regulations.
• Define and maintain, in consultation with Finance, loss provisioning policies, procedures, delegated authorities and forecasting methods.

Operational Ris

Implement ORF in Country

• Act as Senior Management advocate to ensure understanding and commitment to ORF at Country Management level.
• Escalate to Country Management Group members where necessary to ensure prompt resolution of local ORF implementation issues.

Embed use of ORF in country

• Ensure Combined CNFRC/ERC instils ownership of operational risks at Country Management Group level and drives prompt and effective execution of risk management action plans.
• Ensure first and second line in country is maintaining adequate capacity and capability to support ongoing control effectiveness.
• Anticipate changes in country operational risk profile and direct mitigating actions through first and second line.
• Ensure decisions made and key issues discussed at the Group level risk committees are disseminated to all relevant country level stakeholders.

Ensure compliance with OR policies.

• Effective supervision of Operational risk function in country to ensure compliance with all relevant policies.
• Ensure compliance with all local regulatory requirements in relation to operational risk.

Deliver second line assurance

• Direct higher levels of assurance in areas of greatest concern
• Oversight of assurance activities to ensure OR is acting as an effective second line
• Ensure differences in standards set by Country Risk Control Owners are resolved with the relevant Country Business and/or Function Heads

Governance

• Maintain the Risk Management Framework for the Group and oversee its effective application for Ghana
• Ensure that the country consistently and effectively follow the Group’s standard risk committee structure. Wherever possible, attend country risk committees as an observer/advisor.
• Maintain an open and cooperative relationship in dealings with regulators.

Regulatory & 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 the Ghana team to achieve the outcomes set out in the Bank’s Conduct Principles: Fair outcomes for Clients: Effective Operation of Financial Markets; Financial Crime Prevention; The Right Environment.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters. Responsibilities: Regulatory & Business Conduct.

Cyber and Information Security (DCIS)

• Create the institutional framework for cyber and information security risk management and oversee its implementation and maintenance.
• Formulate institutional policies about cyber and information security, outsourcing and survivability, backup and recovery from cyber incidents and disaster events.
• Once a year, the Senior Management shall discuss whether the policies referred to in (2) should be revised.
• Allocate the necessary resources for the institutional cyber and information security framework and policies.
• Hold a biannual meeting to monitor and control the implementation and effectiveness of the institution’s cyber and information security activities and measures.
• Receive quarterly and ad-hoc reports, as required, about cyber and information security threats and countermeasures with reference to the risk estimate stipulated in the BOG Information and Cyber Security Directive.
• Receive and discuss monthly reports on significant cyber and information security incidents and analyse their corporate implications.
• Determine the types of cyber and information security incidents necessitating immediate notification of Senior Management
• Appoint a Senior Management member to act as Director of Cyber and Security Information (DCIS)
• Appoint a Cyber and information security steering committee chaired by the DCIS
• Appoint a Chief Information Security Officer (CISO) and determine the role’s powers, responsibilities, and authority in the institution, and demand that CISO assume a proactive approach to cyber and information security defence.
• Report to the board immediately any significant breach(es) of cyber and information security as they occur.
• Promote inter-institutional collaboration on cyber and information security defence.
• Report to the Bank of Ghana, all significant and suspected cyber and information security incidents.
• Senior Management should fully understand risks associated with ICT outsourcing. Due diligence report should be prepared before a service provider is appointed.

Other Responsibilities

• Embed Here for good and Group’s brand and values in Standard Chartered Bank Ghana.
• Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures. Risk governance oversight for SCB Ghana.

Our Ideal Candidate

Given the bank’s unique standing in the Ghana market, being the only full-fledged international bank, we are looking for a Risk specialist that has an exceptional understanding of regulatory frameworks, governance, operational and enterprise risk. The successful candidate will ideally already work within a similar risk-focused role within Ghana, or have experience of the Ghana/similar sized market.

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