Operational and Conduct Risk Trainee

Description of the Business Line or Department

The SGLB MARK ORM (Markets Operational Risk Management) team is coordinating the LoD1 teams to run the first line of defence (LoD1) framework for SGLB with regards to the non-financial controls and regulations

Coordinating the actions of MARK/ORM and working closely with local and global LoD1 and LoD2 partners, this will include:

• Lead and coordinate the control agenda covering operational and other non-financial risks in the first line of defence across SGLB,
• Ensure that the LoD1 design, set-up and monitoring of non-financial risks is fit for purpose for SGLB activities,
• Drive and support mitigation of the control issues and remediation efforts,
• Support SGLB senior management and governance committees in the fulfilment of their regulatory obligations.

MARK ORM team:

• ensures – as concerns non-financial risk matters – the management and the global consistency of Norms (policies, rules, procedures), Controls (1st line of defence, including FBK/Watch, permanent supervision, and anti-fraud controls), Governance (definition of rules, design of controls, analysis of control results) and Processes and tools.
• Provides the necessary support to MARK to manage and mitigate their operational and conduct risks.
• Gives a comprehensive yet readable view of operational and conduct risks in MARK activities.

MARK ORM is part of a wider 3-line of defence model:

• 1st line of defence is composed of all MARK staff and especially MARK managers, who own and manage operational and conduct risks and are supported in this mission by dedicated teams in ORM.
  2nd line of defence is composed of Risk, Compliance and Finance, who oversee the overall operational risk management framework from different angles
• 3rd line of defence is ensured by Internal Audit and Inspection, who perform independent and periodic reviews

The SGLB ORM team is the main entry point for all SGLB LoD1 on all operational and conduct risk topics (key operational risk processes such as RCSA or incidents management, anti-Fraud, information security, business continuity issues, essential services):

• First line of defence control framework:
  • Design and improve the control framework. Monitor (through engagement with peers and in industry working groups) developments and trends related to control frameworks, assess their implications for the company and propose refinements and improvements to the existing control frameworks
  • Be responsible for the execution within SGLB of the applicable control framework for operational and other non-financial risks, in close cooperation with ROCS and the operational risk managers in each Business/Service Unit

• Control issues and remediation
  • Ensure the environment of controls is appropriate, identify gaps and address the weak areas
  • Assisted by business partners, identify, assess, record, mitigate and/or remediate operational or other non-financial risk and control issues
  • Drive and/or support mitigation and remediation efforts and monitor progress to ensure issues are addressed on a timely basis
• Management Information and Reporting
  • Provide SGLB senior management, governance committees, auditors and regulators with meaningful reporting on matters relating to the effectiveness of the first line of defence control framework and oversight mechanisms, supported by appropriate quantitative and qualitative data and metrics. This includes but is not limited to presentation of a monthly report to the SGLB Risk and Control Committee.
  • Ensure and evidence that controls are operated in accordance with the control framework, internal policies and standards and regulatory requirements
• Stakeholder management
  • Participate in all required governance and management meetings and committees
  • Build and maintain effective relationships with senior management, COOs and the operational risk managers supporting each BU/SU in SGLB
• Culture and conduct
  • Demonstrate and embody the SG Group Leadership Model in all professional and personal activities
  • Promote accountability, responsibility and ongoing embedding of the control framework so that it is understood and followed in all first line of defence roles
  • Animate implementation of SG’s culture and conduct agenda

Summary of the key purposes of the role

Main Mission:

• to assist the SGLB ORM in on-going transformation and externalising projects to improve Operational Risk framework over the SGLB perimeter, focusing on
  • streamlining of existing key processes within MARK/ORM in relation with the supervised LoD1,
  • ensuring procedures are well defined and documented,
  • tasks are externalised and running successfully.
  • Managing large amounts of data, monitoring for trends, and presenting

• to assist in acting as a contact point for all LoD1 team’s and their related Control teams’ queries relating to support and control, and helping to control and supervise activity, in particular:
  • Risk culture for SGLB operational staff,
  • Continuous assessment of risks,
  • Deployment of appropriate controls,
  • Timely and complete escalation, reporting, and follow up of incidents and resulting actions,
  • The maintenance and reporting of effective Key Risk Indicators and other qualitative measures,
  • Preparation of conduct and operational risk dashboards for committees.

Summary of responsibilities

To conduct the above, the main areas of focus will be:

• Assist SGLB ORM with daily BAU/ Ad Hoc topics
• Monitor performance of permanent supervision controls in GPS
• Assist in control transformation, documentation in the framework of externalising control performance
• Participate in incident discussion meetings
• Participate in governance discussion meetings
• Participate in control framework discussion meetings
• Monitor action plans in Committees
• Assist in the aggregation of the SGLB Risk and Control Self Assessments (RCSA’s)
• Assist with business facilitation tasks
• Perform some permanent supervision controls