Manager Trade Business Risk (Iraqi nationals only)-2400003319

The Role Responsibilities

The Country Trade & Cash Business Risk is entrusted to ensure the Trade & Cash teams (front to back) in the Country operate in full compliance with all Country and Group policies as well as local regulatory requirements.

Strategy

The Country Trade & Cash Business Risk is entrusted to ensure the Trade & Cash teams (front to back) in the Country operate in full compliance with all Country and Group policies as well as local regulatory requirements, through

• Ensuring Operation Units’ standards and roadmap abide by Group operating principles, policies and procedures as well as Country Addendums and Enterprise Risk Management Framework (“ERMF”)
• Ensuring that the execution of Operations’ functions is fully compliant with statutory regulations, laws, guidelines.
• Support Cluster, Business Risk in the overall effective and proactive management of Operation units’ risks and control gaps.
• Act as the voice, eyes and ears of the Cluster Head, Trade & Cash Business Risk for all matters related to Risk for the Country.
• Oversee the effective execution of controls within the Country (front to back), including identification of gaps and remediation of issues, elevating residual risk where appropriate.
• Create and maintain complete, accurate and targeted metrics to allow the COO, the Cluster Head Business Risk Management for Trade & Cash and Business Head to constantly assess the control environment and residual risk profile.
• Effectively manage the entire Risk Management agenda for Trade & Cash within the region, along with ensuring targeted Front to Back peer reviews, and the proactive rippling of peer review and audit findings
• Work with Country teams and Group to drive hubbing of control checks where feasible, ensuring continued country oversight and ownership of hubbed checks and processes

Business

Pro-active Risk Management

• Perform risk reviews and end-to-end process reviews in collaboration with the units and the GBS teams.
• Analyse process and explore the possibilities of automation and process reengineering/ enhancement on the ground where possible.
• Conduct governance reviews to ensure effectiveness and robustness of the country’s governance activities and control environment.
• Assist in the identification and escalation of thematic and horizon risks and the implementation of appropriate controls to mitigate those risks within the Country.Be the ‘go-to’ person for the business with regards to the escalation of all operational and other risk-related incidents/queries/events that arise within the Country.
• Ensure the country is always ready to handle any reviews and user understand the risk very well.

Processes

Risk Identification and Control Effectiveness

• Responsible for supporting the unit in the timely identification, assessment, mitigation, reporting and escalation of all identified Operational Risks.
• Assist in identification of operational risk for new/amended products, projects, regulation, etc. and implementation of appropriate controls to mitigate those risks.
• Liaise with unit as required to ensure that Residual Risk Acceptance Requests (RRARs) are completed for material risks or control failures identified and passed to Senior Operational Risk Officer (SORO) for review before submission to the relevant approving authorities and tabled at appropriate forums/committees.
• Assist the unit in the management and implementation of the ORF and other relevant OR-related initiatives, including ensuring proper functioning of embedded and periodic controls.
• Monitor the implementation, execution, and outcome of the Control Sample Testing (CST) process, results of any Key Risk Indicators (KRIs), and Key Control Indictors (KCIs) to ensure compliance with agreed control standards.
• Oversee risks in the risk tracking system (EORP) and responsible for ensuring the quality of information being recorded as well as ensuring data accuracy, completeness and timely resolution.
• Determine effectiveness/ ineffectiveness of defined prevalent controls and control testing through independent validation.
• Review the ORF results and arrived on the action plan for reducing residual risk rating and mitigating repetitive failure /exceptions.

Loss Reporting and Investigation

• Support the unit in minimizing operational losses and issues, and ensure operational losses are investigated to prevent recurrence.
• Drive the root cause analysis discipline, validate the content before submission and track the treatment plans until closure. Ensure that significant operational losses are escalated with appropriate root cause review completed.
• Oversee the recording of operational errors that occur within the unit that result in financial losses, gains, near misses, or non-financial damage.
• Oversee and have a 2nd line view on the unit reconciliation on a monthly basis of all operational losses records in the risk management system versus GL entries to ensure that all losses / recoveries are correct and/or accounted for on both sources.
• Ensure units have obtained the relevant approvals for losses in line with delegated authorities granted

Risk Management through Standardised MI

• Review, analyse and initiate actions in coordination with the respective unit based on Standard MI e.g. KRI, EMF, Reconciliation Scorecards, ORF Results, etc.
• Review weekly reports circulated by Central Team on issues and incidents logged in EORP and ensure information on EORP is kept up-to-date.
• Monitor whether COPMAN Controls adhered to, review the type of exceptions and analyse with the team.
• Monitor/review COPMAN Controls through spot checks - management of exceptions and feedback to line managers

People & Talent

• Support Cluster, Trade & Cash Business Risk to develop and embed a high-performance culture and organisational mindset to effectively embed policies and procedures in cluster.
• Support the units by developing OR awareness in respective areas of work and adherence with the highest standards of ethics, and compliance with relevant policies, processes, and regulations among employees’ form part of the culture
• Be the source of reference within the operation unit in facilitating / promoting the understanding of Risk Management and Operational Risk Frameworks.
• Identify knowledge gaps, facilitate development of training material, and arrange relevant trainings on Operational Risk.
• Lead through example and build the appropriate culture and values. Sets appropriate tone and expectations for the team and work in collaboration with risk and control partners.
• Lead and support a change in mindset, building a culture of client centricity, agility, and accountability through standardised metrics and measurement

Risk Management

The Risk Manager/ Senior Manager must at all times focus on the operation units’ controls, governance and supervision and support the Cluster Head Trade & Cash Business Risk through: 

• Ensuring that all material operational risks are identified, assessed, mitigated, monitored and reported to relevant governance forums
• Developing control enhancements to ensure that any known risks are controlled within acceptable boundaries and consistent standards.
• Becoming the go-to person for the unit for all operational risk related incidents / queries / events that arise/ policy & procedure guidance.
• Coordinating with stakeholders in the cluster and with other Operational Risk Managers to increase transparency and share key learnings and best practice.