Manager, Risk and Control, India Technology

Job Overview

Job Title

Manager, Risk and Control, India Technology

Job Overview

The Risk Manager role is responsible for and has oversight over Technology Risk management, control design & monitoring and audit management across the function that has been assigned to the role. This role is key and responsible for continuing improvements in the functions approach to risk identification, risk mitigation, control management and audit engagement within the framework set out by the relevant authorities.

This role ensures a constant state of preparation, readiness and continuous improvement across process, risk management, audit success, documentation and MIS reporting.

Job Purpose

• Ensure that effective and efficient controls to minimise / mitigate operational impact are implemented by process owners, challenge and validate controls and assure control measurement and efficacy
• Ensure appropriate management of risk and timely resolution of issues.
• Develop OR skills in line with the Groups Enterprise Risk Management Framework (ERMF) and Methodology.
• Ensure that ERMF and Methodology are cascaded to the 1st line in the relevant domain as required.
• Promote understanding, practice and culture of Operational Risk within the Function.
• Advise and assist the Function Head in driving and directing effective compliance with the prescribed Framework, Policies and Procedures.

Key Responsibilities

Strategy

• Support the CIO in the overall effective and proactive management of technology risks and controls in accordance with the Banks operational risk framework as well as local Technology regulatory requirements or guidelines.
• Engaging key stakeholders - Group Technology, CEOs, Business Heads, Business CIOs/COOs and GBS to develop and implement an end-to-end Technology risk management strategy.

Audit

• To be 'ever audit ready'. Leverage Group Subject Matter Experts where necessary.
• Represent the Function as the Single Point of Contact (SPOC) on internal and external audits and Subject Matter Expert (SME) on the audit working practices.
• Ensure that the affected function (and units within) are sufficiently prepared for upcoming audits.
• Review adequacy of management response to audit findings.
• Review progress and timely closure of audit findings.
• Share thematic risk & audit findings across functions.
• Ensure adequate support is available for Regulatory inspections and internal/external IT audits.
• Facilitate discussions with audit or to ensure any audit observations are reflected factually and action plans are effective to address the issue and root cause.
• IT Audit Issue and Regulatory Inspection Findings Tracking & Closure - track aging of findings, periodic follow-up to ensure that all findings are remediated by the committed timelines and that the actual root causes are being addressed. Validate issue closure.
• Review and perform audit ripples.

Risk Reviews

• Scope and plan thematic risk / control reviews aligning with the functions key objectives, Group Internal Audit themes and key risk areas (may include suppliers where appropriate)
• Provide guidance to Risk Controllers on execution of risk / control reviews.
• Track material actions and risks arising from the reviews.

Risk Management

• Ensure Outsourcing policy and procedures are adhered with for all India Technology outsourcing arrangements.
• Participate in Service Review Meetings of outsourcing service providers and ensure that risk issues are evaluated / followed up / resolved.
• Raise awareness of operational and technology risks among India Technology team members.
• Act quickly and decisively when any risk and control weakness become apparent and ensure they are addressed within an appropriate timeframe and escalated through the relevant committees.
• SPOC for the function on any Risk, Control or Audit initiatives.

Process Risk Analysis (PRA)

• Ensure good understanding of the IT processes and key controls. Perform proactive process reviews and self-identification of risks in country and GBS.
• Review and endorse outcomes of PRA and track material actions and risks that arise from it.
• Control Design – assess 'potential failure events' and arrive at key controls, key control indicators, key risk indicators, control sample test parameters and determine residual risk.
• Scope and plan risk / control reviews of significant new Projects/Process.

Risk Committee Meetings

• Ensure that all risk committee meetings within the function operates within the approved Terms of Reference (ToR), including membership, agenda,
• Facilitation of and Pack preparation for the risk committee meetings. Provide challenge to ensure robust Risk Management practice.
• Submission of risk and control related details to Risk governing committees within schedule and at the required quality.
• Escalate material technology risks to Group Technology for TNFRC attention as appropriate.

Root Cause Analysis (RCA)

• Assist the department heads to complete the Root Cause Analysis (RCA) report as per the Operational Risk Events Procedure.

Management Information

• Facilitate the Technology Risk Review Discussions.
• Ensure that the Committee/Forum decks are prepared with quality write-ups and contain complete, accurate and appropriate risks/root cause assessments of incidents and risks.
• Represent Country Technology in various Technology Risk Forums
• Ensure that management (and any other stakeholder as required) is kept aware of the risk, control and audit profile of the function through periodical reporting.
• Ensure that all management information is produced in line with the defined schedule and quality and should support management decision and action.
• Ensure integrity of source and the processing of data to deliver accurate representation in management information.
• Oversight of completeness and integrity of data.

Regulatory Compliance

• Ensure Regulatory interactions are timely and appropriate.
• Ensure Regulatory audit data submissions are facilitated.
• Ensure Regulatory returns are submitted timely and accurately.
• Ensure Regulatory circulars are tracked and timely addressed.
• Ensure good understanding of RBI Technology Risk Management and technology related requirements.
• Perform periodic assessments to ensure the Bank has the necessary controls to adhere with the regulatory requirements.

Validation of Controls: Key Control Self Assessments (KCSA) or Control Sample Testing (CST) / Key Risk Indicators (KRI) / Key Control Indicators (KCI)

• Ensure that all Key Control Self-Assessment/Control Standard Testing are relevant and assessed effectively and timely.  Any KCSA/CST exceptions are addressed and tracked till closure.
• Review trend analysis of exceptions and identify systemic failures.
• Identify material exceptions and escalate.
• Residual Risk Assessment for Control Indicator measurement.

Issue Management (Records in OR System like EORP)

• Ensure IT related risk/loss incidents are logged and managed in accordance to group OR procedures.

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.

Key Stakeholders

Internal

• India CIO
• India Country Technology Management Team
• India COO
• Business CIOs
• First & Second line Information & Cybersecurity (ICS)
• Second line Operational Risk Teams
• Group Internal Audit
• Risk Teams/Committees
• Executive Risk Committee (ERC)
• Legal and Compliance
• Group Technology
• Group Technology Risk and Control

External

• Local Regulators and other Government Departments/Officials
• Clients
• Industry Partners, Banking Associations, etc
• Relevant Exchange and Cyber Security Forum
• Relevant Banking Associations

Key Measurable

• Effectiveness of the controls and Monitoring of operational risks and controls at the Functional level.
• Satisfactory results on audits undertaken by Group Internal Audit, Regulators and External Auditors.
• Timely reporting and escalation of all operational risk exposures and control failures.
• Timely communication of changes to Policies, control environment and regulatory environment from Legal, Compliance and Group Operational Risk.
• Monitoring and adherence to timelines on Risk & Control or Group initiatives.
• Cross team collaboration and leadership skills – proactive engagement with stakeholders.
• Regulatory audit data submissions are facilitated.
• Regulatory returns are submitted timely and accurately.

Experience and Skills

• In-depth understanding of Technology risks and controls.
• Good level of understanding of Technology in Banking operations, RBI Technology Guidelines, Outsourcing and Operational risks & controls.
• Practical experience in engaging / managing technology audit engagement or being a member of a technology audit team.
• Ability to work within a multi-function, multi-discipline team environment with strong influencing and stakeholder management skills.
• Excellent communication capability - Good command of written English.
• Ability and confidence to operate across a wide range of seniority levels, functional division, locations and businesses.
• Possess a pro-active posture and committed to continuous improvement.
• Good presentation skills.
• Demonstrable analytical thinking.
• A team player who enjoys working with people on all levels as well as being able to work independently and under pressure to meet tight deadlines.
• An understanding of technology Project Lifecycle and the associated controls required through project delivery to manage and mitigate risk.

Qualifications

• Tertiary qualifications in Technology / Business Administration / Commerce.
• Certification in CISA (Certified Information System Auditor) or any other related qualification would be beneficial.
• Any Technology or Cyber Security related certification would be beneficial.

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