Operational, Technology and Cyber Risk

Area of interest: Audit, Accounting & Finance

• Uphold the integrity of operational risk, ensuring that operational risks are properly assessed, and that risk/return and cost/benefit decisions are made transparently based on proper assessment.
• Provide practical implementation guidance on Operational Risk (OR) Policy & Standard in an effective and consistent manner.
• Identify, assess, monitor, and mitigate risks related to the daily operations of the Joint Venture (JV).
• In conjunction with the first line of defence (1LOD), ensure any concerns on key controls, operational risk events, and their risk impact are understood and escalated in a timely manner.
• Drive comprehensive, high-quality root cause analysis of operational risk events, reviewing and providing robust challenge on remedial action plans proposed by 1LOD Risk/Control Owners.
• Ensure new and material changes in products/services/processes conform with the Transaction Processing Policy, Change Management Policy, and Product Governance Policy.
• Oversee and monitor the execution of inherent and residual risk ratings as per the Risk Control Self-Assessment (RCSA) Framework by 1LOD.
• Ensure local regulatory requirements are met pertaining to operational risk management, prudential standards, and governance and operational standards.
• Role requires a combination of expertise in financial services, blockchain systems, regulatory compliance, and risk management frameworks.

RESPONSIBILITIES

Business

• Identify and assess operational risks across the JV ecosystem, including blockchain infrastructure, custody solutions, liquidity management, and payment systems.
• Analyze risks related to smart contract vulnerabilities, stablecoin reserve management, cybersecurity threats, and compliance with regulatory requirements.
• Evaluate third-party risks in partnerships with custodians, exchanges, and third-party service providers.
• Provide timely advice, support, and challenge to enable compliance with all relevant laws and regulations.
• Develop and implement mitigation strategies for identified risks, such as robust cybersecurity measures, operational redundancies, and business continuity plans.
• Lead the response to operational incidents like system outages, fraud, or liquidity crises.
• Collaborate with Legal, IT, etc., to ensure timely resolution of any operational risk events.
• Assess the stability and reliability of the blockchain infrastructure supporting the stablecoin.
• Collaborate with IT, Product, etc., to mitigate risks related to smart contracts, network attacks, and key management.
• Ensure robust cybersecurity measures are in place to protect reserves, transaction data, and user accounts.

Processes

• Ensure effective management of operational risks within the JV, in compliance with applicable internal policies and external laws and regulations.
• Develop key risk indicators (KRIs) and risk control self-assessments (RCSAs) to monitor operational risks.
• Establish and maintain incident management and escalation procedures to address operational failures.
• Continuously improve the operational efficiencies and effectiveness of risk management and compliance processes.

People & Talent

• Lead by example and build the appropriate culture and values.
• Uphold and reinforce the independence of the Risk function from those whose primary responsibility is to focus on maximizing revenues and profits.
• Embed the applicable and appropriate Standard Chartered values and Code of Conduct in the Risk function to drive adherence with the highest standards of ethics among employees.
• Conduct, at least annually, the Risk Appetite Refresh for Operational Risk and monitor the approved metrics on an ongoing basis.
• Review and challenge the JV strategy where it is not aligned with the risk appetite.
• Design, maintain and effectively communicate operational risk control parameters across the JV.
• Ensure that risk decisions are transparent and supporting rationales are explained in a professional manner.
• Ensure that material operational risk exposures and related issues are reported to the responsible governance committees.
• Highlight any data quality issues in the operational risk management system.
• Provide expert advice on the interpretation, application, and implementation of all relevant laws and regulations for operational risk.

Governance

• Design and implement an operational risk management framework tailored to the Joint Venture's needs as a stablecoin issuer.
• Maintain operational risk capability and a control environment which is in line with the Operational Risk Framework.
• Monitor top and emerging risks through forward-looking indicators.
• Define key risk metrics from Operational Risk Policy and continually track performance on such metrics.
• Participate in the JV initiatives including undertaking assurance and Operational Risk framework effectiveness reviews.

People, Culture and Values

• Lead by example and build the appropriate culture and values.
• Ensure the provision of ongoing training.
• Share best practices in Operational, Technology, and Cyber Risk.

Regulatory & Business Conduct

• Display exemplary conduct and live by the Standard Chartered Values and Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics across the JV.
• Effectively and collaboratively identify, escalate, mitigate, and resolve risk, conduct, and compliance matters.

Key Stakeholders

• Engage relevant stakeholders to raise awareness of Operational, Technology, and Cyber Risks.

Internal

• Members of Peak Management Team
• Group Operational, Technology and Cyber Risk Team
• Group Internal Audit

External

• Regulators in Hong Kong
• External Auditors

Other Responsibilities

• Embed the JV's brand and values in the Risk and Compliance Function.

Qualifications

• Local regulatory requirements (e.g., HKMA ECF ORM Certification)
• A clear understanding of the Bank's approach to the management of operational risk.
• Sound judgement and courage necessary to perform a control role.
• Excellent analytical skills and sound judgement in a rapidly changing environment.
• Effective verbal and written communication skills.
• Ability to present complex risk issues to senior and non-technical stakeholders.
• Excellent interpersonal skills, multicultural awareness, and sensitivity.
• Language: English, Chinese (good to have).
• Training: Role-specific training which are mandatory and developmental.
• Other training as deemed mandatory by the JV.

Role Specific Technical Competencies

• Risk related regulations
• Committee governance
• Risk – Operational, Technology and Cyber Risk
• Risk – Business Partnering
• Risk – Communication and Influencing Skills

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. 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.

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. Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity.
• Never settle, continuously striving to improve and innovate.
• Are better together, we can be ourselves, be inclusive, and work collectively.

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-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum), and volunteering leave (3 days).
• Flexible working options based around home and office locations.
• Proactive wellbeing support through Unmind, a digital wellbeing platform.
• A continuous learning culture to support your growth.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity.