Key Responsibilities: The primary responsibilities of the position are to:
Risk Management Framework and Monitoring of Risk Limits:
* Establish, implement and maintain a comprehensive risk management framework and methodologies to cover all internal & external risks.
* Prepare and update various risk related policies including but not limited to Risk Appetite Statement, Risk Management Framework, MRM policy, ORM policy, Whistle blowing policy etc. For SBI LB, policies from IBG with suitable modifications according to local requirements may be adopted as applicable.
* Challenge and provide risk sign-off for other key policies from 2LOD standpoint.
* Monitor credit, market, operational, liquidity and other risks in accordance with the Bank’s risk appetite and escalate any breaches/potential breaches.
Credit Risk Assessment:
* Review credit proposals to ensure they meet the Bank’s risk acceptance criteria, are within the Bank’s approved risk appetite, and do not expose the Bank to hidden risks.
* Review the PQI (Portfolio Quality Index) of the asset portfolio periodically and assess inherent credit risk in the portfolio.
* Review and update formats for credit appraisals and conduct periodical review of sector / industry / country exposure of the asset portfolio, in conjunction with Credit teams.
* Recommend industry and product exposure ceiling / limits for approval by respective committees, wherever applicable.
* Independently review and challenge industry banding criteria and levels on a regular basis.
* Develop, monitor and review the internal Credit Rating models to ensure these models are aligned with the market conditions and reflect credit risk properly.
Operational Risk Management:
* Maintain the risk registers, ensure root cause analysis of risk incidents, and providing recommendations to management on risk mitigation actions.
* Oversee the execution of the Bank’s Risk Control Self-Assessment, and continued enhancements of the Operational Risk Framework.
Regulatory Compliance:
* Review the Bank’s risk reporting and propose amendments where necessary in particular to address changes in regulatory requirements.
* Facilitate escalation of any potential PRA regulatory breaches to the relevant fora i.e. Manco, Risk Management Committee.
* Prepare and implement the approach to manage the climate related financial risks in terms of regulatory expectations.
* To act as designated official under Whistle blower scheme.
Risk Culture, Co-ordination and Team Management:
* Work with other departments to ensure compliance with risk standards and development of risk culture within the Bank including providing training and support to other departments where required.
* Ensure that the bank keeps up to date with developments in risk management requirements.
* Establish, implement and maintain processes and procedures to ensure that emerging and crystallised risks are identified and reported from all staff.
* Manage the risk team on day to day basis.- Co-ordinate with internal audit and ensure that full testing and compliance with all risk management procedures is effective throughout the Bank and escalate if any issues arise in this regard.
* Integrate risk management into all business decisions by ensuring effective risk identification and the creation of cost effective risk mitigations plans and controls by working closely with the business
HR Deliverables:
* To manage a team of operational staff towards achieving performance targets.
* To develop and coach staff and raise their competence to be best in class on a sustainable level.
* To train and cross-train staff through job rotation and relief assignments to increase job depth and job width and to facilitate career progression and succession plans.
Compliance and Financial Crime:
* Responsible for developing and maintaining Compliance culture within the Bank;
* Create, review and update Compliance policies and procedures in line with regulatory guidelines;
* Programme for Compliance Training and competency development;
* Horizon Scanning and mapping of regulations with relevant business and operations;
* Create, review and update of policies and procedures pertaining to Financial Crime areas including KYC, AML, Sanctions, ABC and Fraud;
* MLRO Report covering Enterprise Wide Financial Crime Risk Assessment and oversight plan;
* Developing a risk-based Compliance Monitoring Plan (CMP);
* Implementation and review of CMP across departments and branches;
* Follow up on action points emanating from Compliance Oversight Reviews;
* Periodic reporting of KRIs and KPIs to Group Compliance;
* Liaising with internal and external stakeholders including regulators;
* Maintain and update management responsibilities map;
* Oversight of frauds, including pursuing legal / criminal action;
* Periodical oversight of product features / policies / procedures to ensure adherence to regulatory requirements;
* Review marketing initiatives / campaigns to ensure adherence to regulatory requirements
* Accountability and responsibility from all functionaries of Risk, Compliance and Legal department and to ensure that appropriate mechanism is put in place for these to be duly accounted for in performance reviews of concerned employee; and
* Mapping of competencies, identification of gaps in skillsets / knowledge and arranging training to address gaps identified.
Allocated FCA Responsibilities:
* Responsibility for management of the SBI LB’s risk management processes in the UK;
* Responsibility for compliance with the requirements of the regulatory system about the management responsibilities map for SBILB;
* Responsibility for SBILB compliance with the UK regulatory regime applicable to the branch;
* Local responsibility for SBILB policies and procedures for countering the risk that the branch might be used to further financial crime; and
* Responsibility for SBILB obligations in relation to individual conduct rules for:
(a) training; and(b) reporting.
Allocated PRA Responsibilities:
* Responsibility for management of the SBI LB’s risk management processes in the UK
* Responsibility for compliance with the requirements of the regulatory system about the management responsibilities map; and
* Responsibility for SBILB compliance with the UK regulatory regime applicable to the branch.
* The firm’s recovery plan and resolution pack and overseeing the internal processes regarding their governance;
* Responsibility for managing the firm’s internal stress tests and ensuring the accuracy and timelines of information provided to the PRA and other regulatory bodies for the purpose of stress-testing.
Skills/Competencies required:
* Demonstrable experience in a similar Risk Management role within the Financial Services Sector.
* Proven in-depth knowledge and experience of Risk Management practices and Regulations.
* Currency on UK legislation specific to Risk Management.
* Technically competent/qualified Risk Management professional.
* Entrepreneurial – demonstrating strong drive and keen business mind.
* Financially Astute – conversant with accounting systems and principles.
* Tactical, Strategic and Proactive – demonstrates the ability to accurately anticipate outcomes and respond accordingly.
* Excellent Interpersonal Skills – proven ability to communicate effectively and work well with a vast range of individuals across varying cultures, ethnicity, orientation and background.
* Critical Thinker – Strong Analytical skills, tenacious, concise and probing.
* Self-Assured and confident with a keen sense of self awareness.
* Excellent Communication and Interpersonal skills with the ability to interact with all levels of staff and management.
* Proven Strong Leadership and People Management skills.
* Demonstrates the Drive, Energy and Perseverance to succeed in a competitive market environment.
* Analytical and Decisive – possesses the ability to analyse a large number of details, data and facts and assess and effectively utilize them to make the best decisions. Accurately maintains important decision- making data for future consideration and review as required.
* A recognized Diploma / Degree is essential.
* Sound understanding of UK regulations
* Experience of managing key stakeholder relationships, including regulators.