The Role Responsibilities
As part of the Client Risk Assessment (“CRA”) Model Development team, the role is responsible for the development and change management of the CRA Models, utilised by the Conduct, Financial Crime & Compliance (“CFCC”) Risk Assessment team, ensuring they provide for appropriate measurement of risk. The accountability for this role also covers the appropriate sourcing and usage of data for simulation of model changes and analysis of existing CRA models.
Background:
Client Risk Assessment (“CRA”) Model – As part of the Client Due Diligence (CDD) process the team is responsible for ensuring that the CRA model provides ratings that appropriately reflect the financial crime risk. The role is responsible for ensuring modelling approaches are fit for purpose, incorporating the latest data-driven statistical approaches, qualitative information from risk owners as well as policy/regulatory requirements. The role holder is expected to liaise with CFCC risk managers, business users and data providers across the bank to provide and advise on practical but defensible approaches to develop and maintain CRA models. Responsibility also extends to full model life cycle, including data sourcing, model changes, advising on ad hoc analysis and performance monitoring of these models.
Strategy
- Develop, design and advise on model methodology suitable to business, policy and regulatory requirements. Ensure that it is based on sound modelling techniques and that it can appropriately capture Financial Crime risk
- Translation of modelling methodology and/or expert/business feedback into a viable set of codes using various statistical or data management software.
- Communicate modelling techniques in a manner that is understood both by technical and non-technical audience.
- Support the deployment of new models into production and associated controls.
- Ensure compliance of new models with the Group Model Risk Policy (GMRP).
- Advise on improvements to models, analytics platform and model management process in light of business changes.
- Simulation of proposed changes to CRA models and advise business on impact.
- Awareness and understanding of the Group’s business strategy and model appropriate to the role.
Business
- Model Change Management: Liaise with business and advisory teams to determine the enhancements required to the model methodology based on emerging risks or policy changes.
- Perform iterative data or model analysis to provide solutions to business and stakeholders’ challenges particularly if there are any changes arising from emerging risks, policy, and process changes, and evolving regulatory landscape
- Primary lead on interaction with systems delivery team to determine the appropriate logic and conduct simulations to assist with business impact assessments. Support the systems delivery team on implementation or pre-go-live activities.
- Support with analysis required for internal & external reviews of the CRA models, including iterative reviews to optimize the model to capture the banks levels of risk tolerances through FCC and Business qualitative feedback. Responsible for supporting the regular cycle of model reviews performed by Group Model Validation (GMV) in accordance with the prevailing Group and Model Family Standards.
Processes
- BAU Management of all CRA sub models across model development, maintenance and validation process ensuring that all artefacts are regulatory defensible.
- Support redevelopment and update of CRA models: Gather user or business requirements to ensure that the risks are understood and appropriately reflected in the model methodology. This includes determining the approach to data sourcing and providing insights through data analysis to translate user requirements to defensible and sustainable approaches.
- Support model data requirements and analyse model data through quantitative and qualitative techniques ensuring that it meets data quality requirements and standards.
- Model Maintenance: Evaluate the performance of existing models and provide expert view on escalation action (investigations, recalibrations), assessment of impact and potential resolution plans.
- Deployment: Work with Systems and Implementation team to ensure data used for model/rule development and proposed logic can be integrated into deployment systems.
- Data Sourcing / Quality: Advise on DQ testing for in-use models and development work. Liaise with data team to enable appropriate SLAs to be put in place for all data sources.
- Governance: Execution of controls related to the end-to-end model management process universe.
- Provide support to independent review teams (GMV, GIA, external regulators).
- Documentation: Ensure documentation of CRA model and other risk-based rules accurately reflects statistical techniques, qualitative approaches, data sourcing, processing and usage, highlighting any assumptions made and sensitivities.
People & Talent
- Lead by example and build the appropriate culture and values according to Bank’s Priorities / Strategy. Work collaboratively with all relevant partners.
- Responsible to mentor/guide new or junior members of the team whether it be onshore or offshore.
- Able to step-up into a leadership position in the absence of Director Model Development
Risk Management
- Responsible for identifying, assessing, monitoring, controlling and mitigating risks that arise through model development, deployment, management and data provision / quality activities.
- Conduct quantitative assessment to determine impact of issues for risk acceptance decisions.
- Ensure appropriate escalation of issues to relevant parties, setting and tracking clear remediation plans.
- Ensure a full understanding of the risk and control environment in area of responsibility
Governance
- Provides structure to the project and enforces rigorous project governance
- Employ a strict change management process, to limit and control scope creep
- Ensure team’s compliance with the prevailing control processes
- Awareness and understanding of the regulatory framework in which the firm operates, and the regulatory requirements and expectations relevant to the role.
Regulatory & Business Conduct
- Display exemplary conduct and live by the Group’s Values and Code of Conduct.
- Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
- Lead the Client Risk Assessment team to achieve the outcomes set out in the Bank’s Conduct Principles. Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key stakeholders
- Group Conduct, Financial Crime and Compliance
- AML Oversight (Policy & Models/Rules)
- CDD Process Owners
- CDD Technology
- FCC MI
- Model Risk
- Operational Risk
Other Responsibilities
- Embed Here for good and Group’s brand and values in all Group businesses,
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
Our Ideal Candidate
· 1 + years experience in banking operations and products in different client segments.
· Interpreting regulatory / policy requirements to ensure models meet relevant standards.
· Experience in working with risk owners, ability to influence and negotiate with senior managers.
· Data Management and quant analytics in the context of developing, managing, validating models.
Role Specific Technical Competencies
- Risk Management in Financial Services
- Model Risk Experience – Development / Maintenance of models
- Understanding of banking and data flows within a bank
- Competent user of data management / programming software (e.g. SAS, Python)
- Good stakeholder management experience, ability to explain approaches and outputs to users as well as exposure to internal/external and op risk reviews.
- International Software Testing Qualification Board (ISTQB) certified professional .
About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 160 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 thing and 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
- Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
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, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum
- Flexible working options based around home and office locations, with flexible working patterns
- Proactive wellbeing support through 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 culture to 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.
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