Chief Risk Officer

Chief Risk Officer (RISQ/CRO) - Vice President- SG Securities India (Mumbai)

Chief Risk Officer (RISQ/CRO) - Vice President- SG Securities India (Mumbai)

Responsibilities

Job Summary:
• The Chief Risk Officer (CRO) of SG India Securities is responsible for identifying, measuring, monitoring, approving, and controlling risks pertaining to the entity’s activities (, conducted by the entity’s Business Line, and booked in the entity). The RISQ supervises Global Banking and Investor Solutions activities and for the entity purpose is focused on Capital Market (MARK) {MARK listed platform regulated by SEBI}.
• The CRO is responsible for ensuring adherence to the holistic risk management framework, clear risk ownership, a consistent and complete risk oversight and contribute to a strong enterprise risk culture. 
• Responsible for overseeing the SGSI risk management framework and activities through direct management of the second line of defense (LOD) on market, credit, operational, liquidity, structural, environmental, and social risks achieved through interaction with functions reporting directly to the Head of SGSI. Model Risk Management is managed globally, the entity CRO has no oversight on this. 
• The role focuses on providing support to Head - SG India Securities and Country- Chief Risk Officer in alerting it in the areas of Risk matters, driving internal risk reviews and organizational risk preparation to ensure a constant state of readiness. 
• This role drives and anchors the continuous improvement across process, risk management and risk reduction.

Main Responsibilities:

1. Oversee the development and implementation of a risk management framework that is commensurate with the structure, risk profile, complexity, activities and size of SGSI and consistent with the Group risk management policies and the Group Risk Management Framework defined by RISQ head office/regional office, namely : provide oversight, support, and challenge to the activities across all applicable lines of business and risk; support the first line of defense in maintaining the company’s risk profile in line with the Risk Appetite Statement and determining and implementing risk mitigation strategies. 
2. Coordinate the relevant teams locally to provide: 
• Risk Identification and Assessment: conducting both continuous and periodic processes. 
• Risk Measurement and Monitoring: monitor all risks and ensure risk management and mitigation at entity level, relying on risk management frameworks. 
• Management Information: report the level of risk across all risk types, in particular vs validated risk appetite and limits allocated, produce, and circulate relevant dashboards and information packages to the appropriate Committee and Management levels. 
3. Ensure adequate set up, ie a risk organization where the teams are able to integrate with the functional expert teams in Regional Office, information systems and access to internal and external information necessary for the performance of their duties. 
4. to meet with regulatory mandate on CRO as defined by regulator under Qualified Securities Broker (QSB) or from time to time mandated by the regulator, and interact with the various regulators as the case may be (, SEBI, Exchange) 
5. Contribute to effective governance: play an active role in SGSI and Group/Regional (if applicable) committees, offering constructive challenge, helping governance bodies to fulfil their roles and responsibilities. Where the CRO acts as a Chair of a governance committee, ensure the committee is effective in all aspects of its role. Facilitate and encourage informed and constructive debate on key issues and ensure that members receive relevant management information in an accurate, timely and clear form. 
6. Provide essential input as a Senior Manager and credibly challenge the management of current risks and issues. Developing, managing and refining qualitative and quantitative risk reporting which meets the needs of the Senior stakeholders and relevant Boards of Directors/Committees to support effective decision making.
7. Monitoring and analyzing overall risk exposures of the business, including measuring all losses that the businesses would experience under a variety of normal and extreme market conditions. 
8. Ensure that appropriate policies and procedures are in place to monitor limits.
9. Engage in regular reporting to the Risk Management Committees including second line review of relevant risk appetite statements, risk profiles, emerging risks, significant financial and non-financial risk exposures, policies and practices, deep dive risk reviews as applicable.
10. Alert management including escalation to his/her reporting line in RISQ Regional office, India Entity General Management immediately of any significant changes to business risks and internal control effectiveness or on discovery of any material regulatory breach. 
11. Identify emerging risks within India. Continue to build out risk capabilities as regulatory landscape evolves harvesting, analyzing and assessing risk information across the Entity. 
12. Develop processes to address audit and regulatory findings quickly and effectively. 
13. Continue to build out and to increase level of expertise in key areas and developing internal talent to secure succession planning. Build a culture of accountability at the individual and team level. Contributes to disseminate a risk culture. 
14. From a Line of Defense (LOD) 2 perspective, this position would oversee the management of the following risk categories-:

15. Credit Risk
• Implement and supervises credit policy and procedures. 
• Ensure that credit risks assumed by SGSI are properly assessed, measured, validated, and managed in compliance with the entity’s risk policies, the risk appetite, and its delegated powers. 
• Review transactions, limits, and regulatory parameters in line with the credit risk framework to ensure that risk appetite remains within established tolerance levels. 
• Identifying risks arising from the entity; including an independent risk oversight of credit exposure booked in the entity. 
• Report the credit risk portfolio of SGSI to the Management (Risk Management Committees) and to SG India Country CRO/ Regional CRO by conducting portfolio analysis.

16. Market Risk and Counterparty Risk:
• Implement an effective framework based on appropriate limits, in conformity with the entity’s risk policies. 
• Apply the appropriate measurement methodologies. 
• Analyze and control market risks generated by SGSI market activities. 
• Provide appropriate level of information to the Management (Risk Management Committee) and to his/her reporting line in RISQ office.

17. Operational Risk:
• in conformity with the entity’s risk policies, implement framework for operational risk management as well as conducting independent review (if required) to ensure the overall set up is sound, efficient and aligned to local regulatory expectations,
• Review, challenge and complement the implementation by the first line of defense of the norms and framework for operational risk management. 
• Provide Management (Risk Management Committees) and reporting line in RISQ office with an independent and consolidated view of operational risks on SGSI.

18. Liquidity and Structural Risk:
• In conformity with the bank’s risk policies, implement framework for liquidity and structural risk 
• Ensure that whole-firm principles apply locally, taking into account any specificity. 
• Provide Management (Risk Management Committees) and reporting line in RISQ office with an independent and consolidated view of liquidity and structural risks on SGSI

19. Environmental and Social Risk:
• Ensure that whole-firm principles apply locally, and if need be escalate for advice to the Regional

Profile required

Academic Background (degree and major): 
• Graduate/ Master’s Degree in Science/Commerce and/or Professional Qualifications viz. CA, CS, GARP, MBA.
• Relevant certifications as required by regulation.

Relevant Working Experience in number of years: 12+ years of related professional experience in a leading financial services firm in the areas of finance, risk, legal or government/public affairs, or in a related trade association or regulatory agency, or experience in a related field are required.

Skills & Competencies required: 
• Deep knowledge of regulation, and risks management, including Credit Risk, Market Risks, Operational Risks, Models Risks, ALM and structural Risks.
• Sound financial analysis capabilities.
• Solid understanding of all Enterprise Risk categories including both financial and non-financial risks
• Within established risk appetite parameters, makes sound, well-informed, and objective decisions that support accomplishment of organizational goals 
• Strong analytical skills and process orientation.
• Inspire an environment of commitment and engagement by effectively communicating a clear vision and strategy for success and development of teams’ mission and people.
• Lead with responsibility and autonomy to make decisions while mitigating risk and generating outstanding individual and collective performance.
• Grow teams’ mindset by encouraging innovation and collaboration to generate new ideas and facilitate and embrace progress and change.
• Influence synergies by providing advice and promoting team spirit by considering and respecting other opinions and ideas Demonstrate the leadership necessary to make the organization's mission a success. This includes providing vision direction, attracting followers, and all other aspects of successful leadership.

Language Skills: Good command of English is mandatory (written and spoken), knowledge of Hindi, are desirable.