CCRO/Head of Operational Risk,

Job Description

*The Role Responsibilities Job Summary As Head of the Risk Function, the person would be responsible for:
• Building a culture of good conduct in the Sri Lanka Risk function; and
• Provide governance oversight to embed the Enterprise Risk Management Framework including the Principal Risk Types, Integrated Risk Types as well as material cross-cutting and overarching risks within the Sri Lanka franchise
Responsibilities Strategy
• Inform the development of business plans with the provision of cost and impairment forecasts and a balanced judgment on the external environment.
• Contribute to the development of performance management processes, to encourage development of an appropriate risk culture and discipline.
• Embed innovation, digitisation and analytics by defining and actioning future state analytics operating model.
• Responsible for risk-related disclosure to regulators and rating agencies and ensure that they are compliant with applicable regulatory requirements.
• Represent the Risk function in relevant committees and management forums.
• Supervise the teams to achieve sound management of all aspects of risk in the country
• Appraise and contribute to the development of the Bank s strategic plans.
• Align the strategy of the Risk function with business strategy and risk appetite and oversee its execution.
Business
• Define the strategic intent and agenda for the Risk function.
• Provide Group information, guidance, best practice and expertise to ensure that the Function applies the same business strategy with Group and operate the risk management system;
• Communicate to the Business the strategic intent and collective agenda for the Function;
• Maintain and develop risk capabilities and skills to meet ongoing business needs and plans awareness and understanding of the wider business, economic and market environment in which the Group operates.
Processes
• Supervise all processes where a member of the Function is identified as first or second line process owner.
• Responsible for the operational efficiency and effectiveness of the Risk function, including risk management processes, by defining and maintaining an operational excellence agenda for the Risk Function.
• Ensure effective management of operational risks within the Function and compliance with applicable internal policies, and external laws and regulations.
People & Talent
• Lead through example and build the appropriate culture and values within the Function and across the wider organisation.
• Ensure the provision of ongoing training and development of people and ensure that holders of all critical functions are suitably skilled and qualified for their roles.
• Employ, engage and retain high quality people, with succession planning for critical roles.
• Responsibility to review team structure/capacity plans.
• Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.
• Uphold and reinforce the independence of the Function from those whose primary responsibility is to maximize short-term revenues and profits.
Risk Management Risk Appetite
• Uphold the integrity of risk/return decisions, by challenging business and control function heads to demonstrate that risk origination and control decisions are properly informed and consistent with strategy and risk appetite.
• Ensure that effective management response plans are in place to respond to extreme but plausible scenarios.
• Direct appropriate response to material events or other risk issues that come to the role holder s attention.
• Assess periodically the risk profile of the Bank and maintain alignment with risk appetite by rebalancing the risks or controls that may be required in response to internal and external factors.
• Initiate, at least annually and with guidance from Group specialists, a stress test and scenario programme, review the results and assess their implications.
Risk Ownership
• Ensure risk identification, measurement and modelling capabilities are objective, consistent and compliant with applicable regulations.
• Ensure that material risk exposures and related issues are reported to the responsible governance committees and to the Board or Board committee, as appropriate.
• Ensure appropriate judgement is applied in the discharge of risk authorities assigned to the jobholder, taking account of concentration risk across sectors, geographies and markets where applicable.
• Assign risk authorities to suitable named individuals in line with their skills and judgment.
• Design, maintain and effectively communicate risk control parameters across the country, including policies, control standards, risk exposure limits and other control levers in order to maintain the country s risk profile in line with overall risk appetite.
• Obtain assurance regarding the effectiveness of controls and compliance with applicable laws and regulations.
Governance
• Maintain a good understanding of the requirements of key external stakeholders relevant to the role and ensure that these are well understood internally and reflected in internal procedures.
• Maintain and open and cooperative relationship in dealings with regulators.
• Ensure that the Sri Lanka franchise consistently and effectively follow the Group s standard risk committee structure.
• Ensure business heads and all risk control owners understand and accept their risk management responsibilities.
• Ensure that Country Risk Committees in Sri Lanka remain efficient, fit for purpose and operates within terms of reference.
Role as Head, Operational Risk Sri Lanka
1. Implement Operational & Technology Risk Type Framework in Country
   1. Act as senior management advocate to ensure understanding and commitment to framework at Country Management Team level
   2. Escalate to Country Management Team members where necessary to ensure prompt resolution of local implementation issues
2. Embed use of Operational & Technology Risk Type Framework in Country
   1. Ensure Country Risk Committee (CRC) instils ownership of operational risks at CMT level and drives prompt and effective execution of risk management action plans
   2. Ensure first and second line in country is maintaining adequate capacity and capability to support ongoing control effectiveness
   3. Anticipate changes in country operational risk profile and direct mitigating actions through first and second line
   4. Ensure decisions made and key issues discussed at Group level risk committees are disseminated to all relevant country level stakeholders
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Keyskills :
code of conductkeeping things simplerisk management frameworkenterprise risk management