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Executive Director, Digital Assets Risk

Executive Director, Digital Assets Risk

STANDARD CHARTERED BANKIslandwide, SG
6 days ago
Job description

Roles & Responsibilities

Job Summary

  • This role could be based in Singapore and Dubai. When you start the application process you will be presented with a drop-down menu showing all countries, Please ensure that you select a country where the role is based.
  • Act as the second line Subject Matter Expert for Digital Assets (DA) as an asset class including advising across all relevant Risk Types (reputational risk, traded / market, treasury / capital and liquidity, operational, technology, cyber security, and credit risk).
  • Lead provision of DA risk specific expertise to continuously enhance and maintain all elements of the DA Risk Management Approach (DARMA) which sets out the approach to risk management and the control framework within which risks are managed.
  • Lead assessment of material risk types that the Group may be potentially exposed to arising from direct or indirect DA activities and direct Risk Framework Ownership to such risk types.
  • Lead effectiveness reviews to assess relevant first and second line understand and accept their DA risk management responsibilities.
  • Review and challenge that policies and standards are being adapted or created to address DA risks and training is available to staff (on a targeted basis).
  • Review and challenge the assessment of DA Risk considerations in the Group’s Risk Appetite framework.
  • Monitor that the Risk Framework Owners (RFOs) propose adequate risk appetite with DA risks evaluation for consideration and approval by the Board.
  • Monitor Risk Type compliance to Board approved risk appetite with DA considerations using the risk information report covering all Risk Types; and highlight significant matters to the Group Chief Risk Officer (“GCRO”), senior management and senior risk committees.
  • Review infrastructure to support DA reviews, and the monitoring of exposures and actions as required.
  • Lead provision of regulatory interpretation for regulations classified as “Large-Scale” with Framework implications. This also includes working with countries to support their regulatory requirements.

Key Responsibilities

  • Influence the Group’s DA Strategy and activities, advising on alignment with specific Risk Type framework, policies, standards, risk registers and risk appetite.
  • Actively engage thought leaders in the DA industries to improve risk understanding, innovation, exploration, and adoption of alternative risk models and data sources.
  • Conduct regulatory interpretation and associated assessments for DA related initiatives with adherence to legal and regulatory requirements.
  • Evaluate and advise on risks associated with DA projects, products and investments, including the assessment of blockchain technologies and tokenomics, to ensure robust risk mitigation strategies are in place.
  • Inform the strategic intent and collective agenda for the DA Risk Management Approach
  • Influence stakeholders and DA Risk subject matter experts on thinking and approach for Digital Asset activities, including situations where the Group seeks to engage clients heavily exposed to DAs
  • Advise Business on alignment of individual DA activities to the Group’s DA business strategy and execution within the risk framework and parameters.
  • Direct the business to undertake appropriate evaluations with regards to DA stress scenarios with support from the Group Treasury and Group Stress Testing teams as required.
  • Provide timely advice, support and challenge to enable compliance with all relevant laws and regulations and support pro-active and pre-emptive risk mitigation.
  • I am responsible for discharging Policy Owner related responsibilities as defined in the ERMF :
  • Ensuring that processes within the DA Risk Management central function are identified and defined by Process Owners, and ensuring the completeness and accuracy of these identified processes; and
  • Reviewing, challenging, and providing oversight of the DA risk profile monitored bythe DA Risk Management Function process universe.
  • Create a culture of continuous learning and development
  • Foster an open environment to stimulate creativity and develop innovative solution to supports Group’s aspiration.
  • Lead through example and build the appropriate culture and values.
  • Set appropriate tone and expectations from the team and work in collaboration with risk and control partners.
  • Oversight of development of the risk assessment approach (DARMA) for any planned business direct exposure to DAs and / or entities heavily exposed to DAs.
  • Required DA risk reviews :
  • Provide subject matter expertise on DA risks and their interactions to core banking Business risks (across CIB / WRB) including capital and liquidity impacts, and traded and credit risk limits
  • Review and challenge enhanced DA Due Diligence reviews on Business DA clients, products, initiatives and investments to enable adherence to DARMA.
  • Evaluate DA risk assessments for confirmation by existing Business authorities including evaluation of blockchains and tokens, DA key management and wallet management infrastructure, operations and partnerships with DA third parties e.g. DA custodians, exchanges, staking providers etc
  • Direct and review notification requirements to relevant regulators
  • Oversight and challenge for the Group’s DA Risk Profile and activities including development and implementation of appropriate infrastructure to support DA reviews, and the monitoring of exposures and actions as required.
  • Direct DA considerations in Risk Appetite by relevant Risk Framework Owners.
  • Reviewing the approved metrics through the risk information reports on an ongoing basis and that incidents of breach are being escalated by the relevant Business and / or Risk Type to the respective Committees.
  • Run and maintain a governance forum / committee structure to provide effective risk oversight of the DA Risk Profile across the Group.
  • Conduct annual effectiveness reviews to identify improvement areas and implement necessary actions.
  • Lead review and challenge of on-going compliance with and effectiveness of the risk control environment and overall exposure and risk levels to DAs
  • Monitor top and emerging risks through forward looking indicators, taking into consideration to external events which may be material.
  • Review and assess management action being taken to mitigate their impact.
  • 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.
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
  • Key stakeholders

    Internal : Digital Assets

  • Members of the Group Management Team
  • Digital Assets Centre of Excellence
  • Business heads
  • Group and Country Risk Framework Owners
  • Digital Assets SMEs
  • Group Head, Internal Audit
  • External :

  • Home and host regulators including Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA)
  • The Group's external auditors
  • Other Responsibilities

  • Embed Here for good and Group’s brand and values in DA risk team Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures
  • Skills and Experience

    Our Ideal Candidate

  • Strong academic background
  • 15+ years of experience in banking / financial services specifically capital, liquidity risk, traded and credit risk.
  • 15+ years of experience in emerging Digital technology
  • 5+ years of direct experience in Digital Asset technology working for a Digital Asset Service Provider
  • 5 years of deep expertise of evaluating financial and non-financial risks associated with blockchains, tokens, CBDCs, stablecoins and cryptocurrencies.
  • A clear understanding of novel risks in DA and how these risks manifest within relevant Risk Types such as Reputational, Traded / Market, Treasury / Capital and Liquidity, Operational, Technology and Cyber Security Risks, and Credit Risk.
  • Broad experience across diverse business models within banking and Fintechs
  • Strong expertise within risk management including governance and frameworks including proven verbal and written communication skills to the Board level.
  • Thought leadership in digital-related risks (Digital-asset risk, technology risk, ICS risk, resilience) (e.g. Digital-asset risks, defi risks, traded risk, credit risk, technology risk, ICS risk, resilience)
  • Strong understanding of Digital-assets and fintech industry trends / developments, risk implications and impacts on the financial sector
  • Knowledge of key regulatory and supervisory frameworks. Ideal - direct experience of working closely with supervisors / regulators
  • Strong stakeholder management, communication and influencing skills
  • Excellent interpersonal skills, multicultural awareness and sensitivity
  • Programme / project management
  • Experience paper writing for senior level committees.
  • Creativity and appetite for continuous improvement
  • Role Specific Technical Competencies

  • Traded Risk
  • Digital Assets
  • Credit
  • Traded Risk
  • Operational and Cyber Security
  • Reputational
  • Compliance
  • Treasury
  • About Standard Chartered

    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. 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
  • Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
  • What we offer

    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), 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.
  • Recruitment Assessments

    Some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.

    Visit our careers website www.sc.com / careers

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    Executive Director • Islandwide, SG

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