The Role Responsibilities
For the Country Head of Collections role (“CCH”) responsibilities, the candidate will be responsible for duly discharging responsibilities as the overall second line of defence related to risk management in RB, which involves oversight and challenge of risk management actions from the First Line. As Risk Framework Owner (“RFO”), the candidate will be responsible for:
- Setting (or proposing) the Retail risk-type framework, Retail risk appetite, policies and control standards;
- Making decisions within delegated authorities and maintaining necessary expertise to manage such risks;
- Establishing effective assurance and reporting mechanisms;
- Design and effectiveness of the risk controls, monitoring of compliance to the Board-approved Retail risk appetite and effectiveness of risk controls; and escalate material exceptions to appropriate management and risk committees.
Governance framework
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Responsible for building a culture of good conduct.
Responsibility for retail lending decisions
Candidate will be responsible for final credit decisions for retail lending facilities.
Collections & Recovery – Retail:
Responsibility for collection and recovering amounts owed to a firm by its customers/dealing with customers in arrears
Strategy
- Inform the development of business plans with the provision of cost and impairment forecasts and a balanced judgement on the external environment
- Contribute to the development of performance management and remuneration processes, in order to encourage the development of an appropriate risk culture and discipline
- Develop/implement and maintain policy, approval process and monitoring for all retail credit activities.
- Contribute to bank’s profitability by ensuring sound credit decisions and implementing credit decisions and implementing effective credit appraisal procedures which takes into consideration credit risks.
Business
- Communicate the strategic intent and collective agenda for the Function
- Maintain and develop risk capabilities and skills to meet ongoing business needs and plans
- Managing collections, recoveries and litigation processes to optimize recovery of overdue payments and cash flow from provisions.
- Support business in penetrating new market segments and business areas.
Processes
- Supervise all processes where a member of the Function is the identified first line process owner
- Ensure effective management of operational risks within the Function and compliance with applicable internal policies, and external laws and regulations
- Continuously improve the operational efficiency and effectiveness of risk management processes
- Establish standards and approval procedures for introductory sources.
- Profit optimization through improved management strategies and better authorisation rates.
People and Talent
- Employ, engage and retain high quality people
- Define an organisation structure aligned and scaled to the risk control needs of the Function, balancing Group & local requirements as necessary
- Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives
- Uphold and reinforce the independence of the Function from those whose primary responsibility is to maximise short-term revenues and profits
- Ensure the provision of ongoing training and development of the Function’s people, and ensure that holders of all critical functions are suitably skilled and qualified for their roles
- Lead through example and build the appropriate culture and values within the Function and across the wider organisation
Risk Management
- Approve collection and recovery strategies to meet roll-rate goals, reduce charge off and maximize net recoveries
- Accountable for satisfactory closure of issues/gaps arising from internal Audits, Business risk reviews, Peer reviews, third party agency audits and regulatory reviews
- Review and ensure adequate collections performance & cost MIS and KPI’s are in place and prepared in a timely manner, to facilitate performance management of the collections department
- Responsible for preparing & presenting the annual budget of the Collections department to the RCO, and Group Collections
- Accountable for all cost/expenses of the Collections Department, ensure accuracy of balances and adequacy of accruals in the collections cost centre
- Communicate, on a regular basis, to counterpart in Credit Risk functions & business streams on market intelligence & or significant shifts in customer/segment behavioural patterns, to facilitate timely revisions of policies, procedure and business strategies as appropriate
- Approve accreditation of external parties providing related services encompassing repo agency collections, field collections, litigation and asset valuation & disposition
- Manage cost within budget and forecast’ understand cost drivers, trends and seasonality and monthly budget/actual/forecast variances. Accountable for accuracy of cost submissions to Credit Risk finance and group CB risk
- Champion continuous process improvement, up skill collection techniques, upgrade collection tools, optimize collections systems and conduct periodic suppliers’ reviews to maximize cost efficiencies
- Maintain an in-country organizational structure that is aligned with the standard Group collections structure
- Oversee career development plans of key resources; viz. Direct reports and 2 downs, to assure robust succession planning and adequate bench-strength for key positions
- Manage capacity planning, in accordance with Group Collections standards, to ensure that adequate collection resources are in place to design effective strategies, deliver collection results in line with business objectives
- Encourage and promote an active training and learning environment to facilitate excellence in collections management
- Responsible for appropriate empowerment of authorities to managers in Collections & Recovery required in order to facilitate, both an expeditious and effective execution of daily duties
- Work with Collections MIS & Strategy Unit in identifying opportunities for Champion/Challenger test scenarios, to promote continuous improvements in Recovery & Collections processes
- Ensure proper performance of CST/Health checklist by RP. KRI’s are timely escalated and reported
- Ensure timely & accurate submission of central bank requirement during onsite inspections. Timely closure of all observations
- Timely actions are taken to address audit observation by internal, external & group internal audits
Governance
- Candidate will be responsible for building a culture of good conduct
Regulatory & Business Conduct
- 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.
- Lead the function 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.
Key Stakeholders – Internal
- Retail Country Business Head
- Country CEO
- Local business teams
- Regional / Country Chief Risk Officers
- Local functional teams
Our Ideal Candidate
- Market Knowledge: Suitable experience at a reasonably high level in the banking industry, including demonstrated success in a similar role.
- Business Strategy and Model: Strong business acumen. Reasonable experience with investment products and leverage strategies (including ability to assess risk and appropriate levels of return), excellent interpersonal skills and multi-cultural awareness and sensitivity.
- Risk Management and Control: Demonstrated track record in managing risk in geographically dispersed and highly varied product base.
- Regulatory Framework and Requirements: Awareness and understanding of the regulatory framework, in which the firm operates, and the regulatory requirements and expectations relevant to the role.
- Non-technical Skills: Strong relationship management experience – with external stakeholders, including regulators.
- Degree level academic/professional qualifications such as Associate of the Institute of Financial Services (Aifs), , International Diploma in Compliance, MBA
- All role specific mandatory and developmental Bank training, and mandatory regulatory/compliance Bank training.
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.
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