Job Summary
The US Credit Risk Review (CRR) team sits within the Group Internal Audit (GIA) organisation, thereby representing the third line of defence. Their primary role is to provide an independent assessment of credit risk ratings, overall credit quality and the appropriateness of specific reserves for credits held within the NY Branch Corporate and Institutional Banking (CIB) Loan Portfolio.
Further, as defined in the Audit Charter, all staff in US CRR together with staff in GIA must exhibit the highest level of professional objectivity in gathering, evaluating and communicating information about the activity or process being examined. They must make a balanced assessment of all the relevant circumstances and not be unduly influenced by their own interests or by others in forming judgments.
In addition, the Credit Risk Review Manager is expected to:
* Support the Head of Credit Risk Review ("CRR") and support the GIA Regional Head of Audit in the execution of Credit Risk Review plan.
* Act as Team member on various Credit Reviews and act as Continuous Monitoring officer for all assigned portfolios. This includes participation in the planning, execution and reporting of Credit Reviews, Continuous Monitoring activities, and any Special Projects assigned.
- Identify deficiencies in the application of the Bank's Credit Risk Management Framework and agree and finalise issues and action plans with management.
- Ensure early identification and escalation of risks, issues, trends and developments to relevant stakeholders.
- Ensure that assigned credit review work is executed in an efficient and effective manner, within the given budget and timelines, and is of high quality, while complying with CRR policies and Standards. To build and maintain engagement with stakeholders.
- To support GIA audit teams by providing product/country knowledge and expertise for their audits relating to the individual's area of responsibility;
- To attend formal committees and Group meetings on behalf of the Head of CRR or for their own area of responsibility, as required, e.g. Governance Committees and Country Non-Financial Risk Committees; and
- The individual will support the Head of CRR in their role as the GIA portfolio/country subject matter expert, depending on the skills of the individual.
- Issue validation: all CRR issue action plans agreed during CRR fieldwork should be tracked through to completion in accordance with methodology requirements.
Key Responsibilities
- Support the Head of CRR where required, in the development of the entity level risk assessment and the development of an appropriate CRR plan for the portfolio.
- Support the Head of CRR to confirm that CRRs assigned to the individual address the key risks identified in the detailed risk assessment and in the review planning process, and meet relevant regulatory requirements and expectations that are required to be covered by US CRR;
- Support the Head of CRR to assess the assigned CRR plan to confirm that it remains relevant throughout the year as the risk profile of the business changes. Propose changes as appropriate; and
- Ensure that CRR team operates in line with the relevant Policies and Standards during engagements, remains independent from management and free from interference.
- Assist the Head of CRR to effectively manage the cost of assigned CRRs within the allocated budget for CRR engagements; and
- Identify and implement opportunities for cost savings and optimal productivity of assigned CRR engagements.
- To act as a Team member on assigned work involving Credit Risk Review. This will entail working on the CRR to deliver the relevant planning materials, execution of test scripts, agreeing issues and action plans with management and submission of draft report to the Team Leader Manager for review.
- Provide technical input and challenge on review work being undertaken within the scope of assigned product / country area of responsibility. This will include working with the CRR team to produce high quality outputs which address the risk;
- GIA and CRR methodology should be adhered to in all areas of the review engagement, as well as raising team members' awareness and understanding of the methodology;
- Demonstrate sound knowledge of both business/technical areas and proficiency with the CRR process, including the GIA system, to ensure that CRR work is carried out to a high standard that meets all methodology and GIA system requirements.
- Contribute to the creation of draft reports of each CRR and participate in the report review process.
- Have a thorough understanding of the regulatory landscape and to ensure that all key regulatory concerns are covered in the review scope.
Governance
- Assist the Head of CRR to manage the relevant Product/Country clients, and establish good working relationships to help the businesses improve the control environment and keep updated with changes in the business impacting their risk profile;
- Propose changes to CRR plans to the Head of CRR, as appropriate, so that the plan remains relevant;
- Communicate effectively with regard to review related matters and resolve any conflict between CRR team and the business being reviewed during a CRR. Use networks and relationships to build engagement and achieve results;
- Delays in the execution of CRR work should be escalated in a timely manner, both to business management and CRR management;
- Be able to clearly explain issues identified along with the risks and root causes to CRR and business management, using language designed to be understood by non-experts; and
- Assist the Head of CRR to manage the relevant Product/Country stakeholders, as appropriate, and establish good working relationships to help the businesses improve the control environment and keep updated with changes in the business impacting their risk profile.
Key stakeholders
- Designated business stakeholders, typically related to individual CRR assignments and the assigned portfolio; and
- GIA stakeholders - team leaders, team members, team managers, Product, Functional, Country and Regional Heads of Audit.
Skills and Experience
- In-depth understanding of risk management and associated control requirements;
- Strong communicator, both written and verbal, with ability to clearly explain controls to be tested and risks identified to audit and business management;
- Confident and courageous to raise and escalate ideas or concerns in a professional and timely manner;
- Proactive, self-directed and able to work with minimum supervision;
- Ability to work within a global team.
Qualifications
- A seasoned credit review specialist, with 5 + years of experience performing credit analysis for corporate and institutional banking.
- Preferably some experience participating in independent loan reviews.
- Formal Credit Training
- Experience in audit, governance, risk or in a business environment;
- Subject matter expert in Corporate Institutional Banking business, including credit and operational risks.
- Strong communicator, both written and verbal, with an ability to influence and an ability to gain the respect of senior management, regional stakeholders, peers and their teams;
- Confident and courageous to raise/escalate issues in a pro-active, professional and timely manner;
- Self-directed and able to work with minimum supervision;
About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.
Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.
Together we:
- Do the right thingand are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
- Never settle,continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
- Are better together,we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
Expected annual base pay range for the role is 104,000 USD to 156,000 USD. The final offer will be determined on an individualised basis using a number of variables, including but not limited to skill set, depth of experience and education, internal relativity, and specific work location. At Standard Chartered Bank, Base pay is only part of the total compensation package. Discretionary variable pay and a range of attractive bank sponsored benefit programs are available and designed to foster employee overall health and well-being including, but not limited to, a best in class 401k plan with up to 8% employer match, robust medical plan coverage with employer funded Health Savings Accounts, inclusive family building benefits, and flexible/hybrid working arrangements for many of our positions subject to role specific considerations
Visit our careers website www.sc.com/careers
What we offer
In line with our Fair Pay Charter,we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
- Core bank funding for retirement savings, medical and life insurance,with flexible and voluntary benefits available in some locations.
- Time-offincluding annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
- Flexible workingoptions based around home and office locations, with flexible working patterns.
- Proactive wellbeing supportthrough Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills,global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
- A continuous learning cultureto support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
- Being part of an inclusive and values driven organisation,one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.
