SC Ventures ("SCV") was established in March of 2018 with the purpose of "Rewiring the DNA in Banking" by bringing three distinct areas together: The eXellerator labs, enabling innovation at large in the Bank by supporting: Entrepreneurially-minded colleagues as "Intrapreneurs", developing ideas to products, services or new business models. Collaboration with fintech companies, supported by the SC Ventures FintechBridge, Proof of Concept ("POC") framework and POC funding. Client engagement on co-creation activities. The Innovation Investment Fund ("Fund"), USD100m allocated to acquire minority stakes in fintech companies ("fintechs") whose technology has been successfully validated in the Group and is progressing to production (i.e., continuing use), subject to commercial due diligence. Venture building, exploring new business models ("ventures"), with the objective of providing 'optionality' for the Group in the way it engages existing and new customers and markets. These adopt a start-up model, operating independently of the Group's existing businesses, funded in a venture capital fashion, and under a different governance and risk management framework. There are c.65 team members (excluding individual ventures), including dedicated colleagues from the Group's support functions, based in Singapore, Hong Kong, Shanghai, Nairobi, London and San Francisco. Venture Building
Take ownership and ensure that all business / first-line accountabilities within the SCV's Principal Risk Type ("PRT") Frameworks are being consistently delivered effectively and efficiently at the SCV Platform and across the venture portfolio.
Responsible for developing a risk awareness and risk culture in the Business / First Line across the SCV Platform and venture portfolio.
Continuously evaluate and identify PRT risk, including operational risk sub-types, for risk assessment and control arising from SCV business strategies and the ventures portfolio. Provide guidance on any risk remediation actions related to the above as required.
Assist ventures to define their risk appetite, risk metrics and client journeys and to compile their risk registers and control library until such time that a venture is sufficiently resourced to perform such activities within their own teams:
1. Identify, assess, control and monitor risks for ventures. 2. Identify and remediate issues and events arising in the ventures portfolio and escalate material issues and events to the SCV First Line and Second Line 3. Regular reporting of risks associated with ventures portfolio to SC Ventures Committee ("SCVC") (typically encompassing activities 1 and 2 above). 4. Own the adherence to updated vendor and cloud processes specific to SCV ventures 5. Own and design processes, controls and standards for adhering to PRT Frameworks and Policies, working with individual venture teams 6. Validate and self-assess compliance to PRT Frameworks and Policies, confirm the quality of validation, and provide evidence-based affirmation to the Second Line 7. Work with individual ventures to facilitate and guide them through 'Incubation' to 'Go Live' stages and ensure their readiness to launch from a risk and governance perspective.
Collaborate with relevant SCV, Region and Group stakeholders and contribute to and ensure the adoption of relevant Group and SCV Platform initiatives across the venture portfolio.
Engage third parties (e.g. associations, consulting firms, Banking groups, technology companies and fintechs) to understand industry best practice and apply these learnings. Share and drive adoption of best practice across the venture portfolio and provoke thought leadership.
Coordinate with relevant SCV, Region and Group stakeholders to increase transparency and share key developments, learnings and best practice.
Monitor adherence to risk appetite and guide and assist ventures to remediate risk appetite breaches. Speak out on emerging risks across the venture portfolio.
Ensure compliance with policies applicable to SC Ventures. Challenge processes, procedures, and policy, if there is opportunity for efficiency improvements.
Regularly evaluate and identify PRT risks for new products and new businesses, regulatory and thematic risks, and drive the implementation of appropriate and calibrated controls to mitigate these risks across the venture portfolio.
Raise awareness of business controls, governance and supervision responsibilities amongst relevant SC Platform and venture staff.
Assess the risk management and operational capability of ventures in the SCV portfolio and advise remedial steps. Identify knowledge gaps, facilitate development of training on PRTs and Policies for venture staff.
Identify processes that involve material risks and ensure appropriate and calibrated control mechanisms are implemented and approved.
Responsible for ensuring adherence to specified BAU risk deliverables and deadlines, along with the execution of CST / KCIs in the ventures.
Act as a key escalation recipient for the business for all PRT risk related incidents and queries that arise in the ventures.
Support the venture portfolio in reducing the impact of operational risks and minimising events, including losses, and ensuring material operational events are investigated to prevent recurrence.
Perform Root Cause review of significant operational risk incidents for institutional learning and enhancement of controls. Support ventures to define treatment plans for material risk events and areas of elevated risk and monitor both the implementation of such plans and the closure of risk treatments.
Ensure adequate governance and oversight of risk in the ventures, through the escalation and appropriate resolution of risk exposures to the SCVC, Group Risk Committee or Group Reputational Risk Committee as required.
Ensure that all required risk management information and metrics are captured at the venture level, monitored at the SCV Platform and reported to SCVC (e.g. Risk Appetite, Risk Profile, Control Completion, Material Risk Events etc).
Support the effective running of Venture Building Forum ("BRF") and the preparation of papers submitted by the business to the SCVC.
Regulatory and Business Conduct
Display exemplary conduct and live by the Group/SCV's Values and Code of Conduct.
Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across the venture portfolio. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group
Code of Conduct
Lead the first line Business Risk Governance 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 in the venture portfolio.
What does the ideal candidate need to have?
Business acumen and an entrepreneurial mindset
Excellent writing and communication skills.
15 years of extensive experience in risk management and programme management.
Clear understanding of a Bank Enterprise Risk Management Framework and Operational Risk Framework or equivalent experience gained in other organisations.
Demonstrated history of applying sound judgement with critical thinking skills and courage necessary to perform a control role and maintain effective working relationships.
Strong analytical skills, detail-focused with the ability to interpret large volume of information.
Problem solving skills with ability to influence across all levels of business.
Ability to independently drive initiatives with minimum hands-on supervision.
Apply now to join the Bank for those with big career ambitions.
To view information on our benefits including our flexible working please visit our career pages . We welcome conversations on flexible working.