The business risk & control management (risk & control) team is part of the first line of defence in the business in dbs team, supporting some wpb risk owners to undertake responsibilities for the effective implementation of the group’s operational risk framework.
the role holder is responsible for the continual assessment of operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructuring and the impact of new technology.
the importance of operational risk and control has increased over recent years and has the potential to be one of the most influential value added services available to senior management and the group. The role holder’s ability in identifying major risk areas and key control weaknesses poses significant impact on businesses in meeting their strategic objectives.
the nature of the role requires close working contact with senior executives in wpb. The jobholder is required to contribute to maintaining an excellent relationship with the regulators and industry bodies in respect of operational risk.
the role holder must demonstrate compliance with hsbc group standards, manuals and policies and adhere to the defined work practices, internal controls and risk management standards associated with the role.
it is desirable that the role holder possesses sound knowledge on banking regulations and operations, and audit and control concepts in order to develop a set of effective standards.
management of risk:
* the jobholder will ensure the fair treatment of hsbc customers is at the heart of everything we do, both personally and as an organisation. They will also continually reassess the operational risks associated with the role and inherent in the business, taking into account the changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology. Additionally, they will ensure they effectively manage non-financial risks.
* this will be achieved by ensuring that all actions consider the likelihood of operational risk occurring; additionally, by addressing any areas of concern in conjunction with line management and/or the appropriate department.
role dimensions:
* responsibility for the operational risk framework, which is used to manage all operational risks exposures.
* the risk and control role is responsible for ensuring risk and control owners and all staff are aware of the relevant policies and provide advice and guidance on how to ensure compliance. They perform risk-based monitoring of risk controls/policies, procedures and operating instructions to validate control effectiveness and monitor timely resolutions of issues including the capability to detect, respond and recover from incidents.
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