Job Description

Role Responsibilities
Job Background/context

• A new team is being established within ERM charged with building out second line Climate Risk management capabilities, in terms of risk identification, measurement and integrating these into governance and existing risk processes and partnership with the business. This role will support the Head, Climate Risk Models in the required enhancements to existing risk management capabilities in line with emerging regulatory expectations.

Key Responsibilities

• Support climate risk modelling (both physical risk and transition risk) and the use of climate risk models for credit risk and financial stress testing.
• Support initiatives to build out Climate Risk scenario analysis / stress testing capabilities covering Physical and Transition Risks, and for use in BAU client and transactional assessments.
• Assess emerging Climate Risk scenarios (e.g., NGFS, IEA), climate stress testing industry practices and supervisory expectations and develop a roadmap for establishing in-house capabilities.
• Support the evaluation of external vendor solutions to help fill gaps in internal data and/or analytical capabilities in the short run. Work collaboratively with vendors where necessary.
• Work to develop climate scenarios as well as translate climate risk scenarios to macro-economic and market variables necessary for stress testing.
• Work with Model Risk Management to ensure adherence to model risk policy requirements.
• Collaborate with local teams to support the delivery of supervisory climate risk scenario analysis and stress testing as they emerge (e.g., Europe / UK / Asia).
• Contribute to the broader Climate Risk team in building out best-in-class first line climate risk management capabilities.
• Customize internal transition risk scenarios to help build and evolve the internal climate scenario framework.
• Interrogate, assess and choose appropriate models from external parties, including vendors.
• Establish requirements and work with Risk CDO and team in order to collect data on transition risk impacts and risk-related scenario analysis.
• Where projects arise collaborate with our academic partners on research opportunities for developing bespoke climate risk modelling and represent the Bank at academic / industry working groups.

Business

• Support engagement with key footprint countries as well as risk and business stakeholders on the topic of Climate Risk. Ensure the model outputs are fit for purposes not only for regulatory purposes, scenario analysis and stress testing but also for daily business usage, underwriting decisions, risk appetite decisions and strategy design.

Processes

• Assess the downstream impact of models to understand its network risk. Participate in relevant model implementation and its user acceptance test to ensure models are appropriately implemented not only within the direct system environment but also its relevant downstream environments. Help policy team to provide model usage guidance to users and address users\xe2\x80\x99 feedback.

Risk Management

• Understand Model related uncertainty risk including data, regulatory, business strategy, market, competitive landscape, system, environment, and others to ensure model sponsors, owners and model approval committees make right decisions based on the understanding of associated risk.

Governance

• Keep abreast and address home and host regulatory changes relating to models. Ensure modelling process and models meet Model Risk Policy and Model Family Standards so that they can be approved by delegated model approval committee and approval committee. Provide timely and high-quality responses to regulatory queries and requests.

Regulatory & Business Conduct

• Display exemplary conduct and live by the Group\xe2\x80\x99s 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.
• Achieve the outcomes set out in the Bank\xe2\x80\x99s Conduct Principles. Fair Outcomes for Clients, Effective Financial Markets.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Be compliant home and host regulatory requirements on modelling: PRA, BaFIN, HKMA, FSS, MAS, BOT, BNM.

Key Stakeholders

• Group Model Validation, Home and host Regulators, Model Sponsors and Owners, CIC Business & Credit, CPBB Business & Credit, Model Risk Management, Credit Policy teams, Finance & Group Treasury.

Our Ideal Candidate

Experience

• 6+ Years of experience in Credit Risk Modelling in Banking domain
• Climate scenario development and scenario expansion modelling experience or knowledge of Risk modelling within a financial service setting.
• Familiarity with conventional transition scenario modelling and tools, including Integrated Assessment Models (IAMs), Simulation Models and Probabilistic Models.
• Familiarity with the increasing regulatory expectations facing banks with respect to climate risk.
• Knowledge of financial products
• Excellent analytical skills and comfortable working with large datasets; expertise in econometrics and other quantitative methods is highly desirable.
• Experience in dealing with change projects and/or building / delivering new capabilities.
• Experience of liaising across diverse stakeholder groups; including senior managers, and large firm networks.
• Good knowledge of banking risk management, a knowledge of Basel/CRR/EBA/IFRS 9 regulations and standards.
• Experience in programming skills (Python, R, SAS, SQL, VBA, etc.)

Academic and professional background

• Climate Risk model development experience in a Financial/Insurance industry setting.
• Home and Host Regulatory Framework and Requirements: Awareness and understanding of the regulatory framework in which the firm operates.
• Understanding of Corporate, Institutional, and Commercial & Retail portfolios and products.
• Experience in developing or validating quantitative models in areas related to climate risk.
• Strong academic background in a highly quantitative discipline, including economics, stats or math.
• Understanding of application of climate risk models, climate science and the key issues that surrounds climate risk areas.

Interpersonal skills

• The candidate should be highly-motivated to rapidly advance the firm\'s plan to establish a comprehensive climate risk management framework against an ambitious timeline.
• Strong written and verbal communication skills.
• Analytical and independent thinker.
• Excellent attention to detail and good time management.
• Initiative, creativity and problem solving.

Competencies

• Self-starter, ability to quickly assimilate and analyze large amounts of information across a variety of topics.
• Proven ability to partner and collaborate across an organization, excellent facilitation and partnering skills, with the ability to build relationships, partner effectively and build a strong internal network across functions and throughout the global Risk network together with the matrix at all levels of the organization.

Role Specific Technical Competencies

• Solid understanding and experience in climate risk modelling and the key issues that surrounds climate risk areas.
• Expertise in analytics, developing or validating statistical models within banking industry.
• Proficient in statistical and data analysis using data management and statistical software which includes Python, R, SAS, SQL, VBA, etc.
• Strong focus on quality control and attention to detail.
• Knowledge of banking data and IT infrastructure, including data management and data quality control.
• Effective presentation and business engagement skills at senior executive level.

About Standard Chartered

We\'re an international bank, nimble enough to act, big enough for impact. For more than 160 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
• Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

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, parental/maternity (20 weeks), sabbatical (12 weeks 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.

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