Business Risk Manager, Wealth Solutions HK

Job Summary

The Business Risk Manager (BRM) represents the Wealth Solutions business (WS or the Business) as a first line of defence, implements the Standard Chartered Enterprise Risk Management Framework (ERMF), and supports the Group’s Risk policies and associated risk procedures to ensure that risks in WS are effectively managed. The Business Risk Manager is to focus specifically on Wealth Solutions controls, governance, and supervision.

Key Responsibilities

Business

• Maintain awareness of the wider business, economic and market environment in which the Group operates
• Evaluate and identify risk implications of business strategies and programmes, and provide guidance on any risk remediation with support from respective risk owners
• Support WS COO initiatives and driving adoption of initiatives

Processes

• Adhere to specified risk deadlines
• Be a key escalation contact for the Business for risk incidents and queries that arise, and being a local business subject matter expert on WS processes
• Coordinate with local stakeholders and with WS risk managers in Group and other markets to increase sharing of key learnings and best practices
• Ensure Risk Acceptance requests are completed by process owners for material risks and control failures identified, and delivered to second-line risk teams for review and approval prior to submission to relevant governance forums/ committees
• Manage processes of Control Sample Testing (CST), Key Control Indicators (KCIs), Key Risk Indicators (KRIs), etc. to ensure compliance with agreed standards
• Ensure quality of information recorded in the risk tracking system, as well as accuracy, completeness of data, driving the timely resolution of outstanding actions
• Support the Business in minimising operational risks and losses, and ensure 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
• Coordinate internal and external audit reviews relating to WS, including but not limited to liaison with stakeholders for timely/ accurate provision of information requested by reviewers
• Review audit findings and key themes, and assist the Business in resolution in line with risk appetite
• Ensure Root Cause Analysis (RCA) is completed by process owners for failed audits and key risk events

Risk Management

• Guide the Business towards an advanced Management Control Awareness (MCA)
• Identify and evaluate risks arising for new products and new business, regulatory and thematic risks, and drive the implementation of appropriate controls to mitigate these risks locally
• Work with relevant parties to manage known risks to acceptable levels by, for example, developing new controls or enhancing existing ones
• Mentor WS staff on business controls, and compliance with policies applicable to WS which impact risk
• Challenge processes, procedures and policies if there is any opportunity for improvement
• Speak out on emerging risks
• Identify knowledge gaps, and facilitate development of training on risks and controls for the Business
• Participate in periodic peer reviews, subject to business needs, to ensure consistency of the risk management approach and support the Business in embedding best practices

Governance 

• Report and escalate issues, risks, trends, challenges, etc identified to WS COO, WS Head, WS Business Risk Forum (WS BRF), Risk Committee (RC), etc
• Run WS BRF and WS Product Approval Committee (WS PAC)

Our Ideal Candidate

• Solid knowledge of Wealth products and operations of branch, online and other distribution channels
• Relevant business experience in operations, business analysis or project management
• Clear understanding of the Bank’s Enterprise 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
• Professional scepticism and problem solving skills with ability to influence across all levels of business
• Ability to independently drive initiatives with minimum hands-on supervision