Job Summary:
- The RISQ Management department (“RISQ”) in SG India branch (“the branch”) is responsible for identifying, measuring, monitoring, approving, and controlling risks pertaining to the branch’s activities (i.e., conducted by the branch’s Business Line, and booked in the branch).
- RISQ supervises Global Banking and Investor Solutions activities and the local activities of Capital Market (MARK), Global Financing (GLBA), and Global Transaction Banking (GTPS).
Main Responsibilities:
The main mission of the Risk Management Division / Chief Risk Officer is to contribute to the sustainable development of the Société Générale Group's (the Group) and entity activities and profitability by establishing, in its role as second line of defense, a risk management and monitoring system. In carrying out his/her duties, the Chief Risk Officer combines independence from the business lines with a close collaboration with core businesses which are responsible in the first instance for the transactions they initiate.
Société Générale operates an integrated model whereby the risk management principles and Risk Appetite Framework (“RAF”) defined at Group level are cascaded down to Business Units (“BU”) and India branch in a consistent manner, while accounting for local specific regulatory requirements.
- Oversee the development and implementation of a risk management framework that is commensurate with the structure, risk profile, complexity, activities and size of India branch and consistent with the Group risk management policies and the Group Risk Management Framework defined by RISQ head office/regional office, namely : provide oversight, support, and challenge to the activities across all applicable lines of business and risk; support the first line of defense in maintaining the company’s risk profile in line with the Risk Appetite Statement and determining and implementing risk mitigation strategies
- Coordinate the relevant teams locally to provide-:
o Risk Identification and Assessment: conducting both continuous and periodic processes.
o Risk Measurement and Monitoring: monitor all risks and ensure risk management and mitigation at entity level, relying on risk management frameworks.
o Management Information: report the level of risk across all risk types, in particular vs validated risk appetite and limits allocated, produce, and circulate relevant dashboards and information packages to the appropriate Committee and Management levels
- Ensure adequate set up, ie a risk organization where the teams are able to integrate with the functional expert teams in Regional Office, information systems and access to internal and external information necessary for the performance of their duties.
- Interact with the various regulators as the case may be (e.g., RBI)
- Contribute to effective governance: play an active role in SG India branch and Group/Regional (if applicable) committees, offering constructive challenge, helping governance bodies to fulfil their roles and responsibilities. Where the CRO acts as a Chair of a governance committee, ensure the committee is effective in all aspects of its role. Facilitate and encourage informed and constructive debate on key issues and ensure that members receive relevant management information in an accurate, timely and clear form.
- Provide essential input as a Senior Manager and credibly challenge the management of current risks and issues. Developing, managing and refining qualitative and quantitative risk reporting which meets the needs of the Senior stakeholders and relevant Boards of Directors/Committees to support effective decision making.
- Monitoring and analyzing overall risk exposures of the business, including measuring all losses that the businesses would experience under a variety of normal and extreme market conditions
- Ensure that appropriate policies and procedures are in place to monitor limits
- Engage in regular reporting to the Risk Management Committees including second line review of relevant risk appetite statements, risk profiles, emerging risks, significant financial and non-financial risk exposures, policies and practices, deep dive risk reviews as applicable.
- Alert management including escalation to his/her reporting line in RISQ Regional office, India Branch General Management immediately of any significant changes to business risks and internal control effectiveness or on discovery of any material regulatory breach.
- Identify emerging risks within India. Continue to build out risk capabilities as regulatory landscape evolves harvesting, analyzing and assessing risk information across the Entity.
- Develop processes to address audit and regulatory findings quickly and effectively.
- Continue to build out and to increase level of expertise in key areas and developing internal talent to secure succession planning. Build a culture of accountability at the individual and team level. Contributes to disseminate a risk culture.
Specifically, overseeing the management of the following risk categories from a LOD2 perspective:
• Credit Risk, Market Risk and Counterparty Risk:
o Implement and supervise credit policy and procedures
o Ensure that credit risks assumed by SG India branch are properly assessed, measured, validated, and managed in compliance with the bank’s risk policies, the risk appetite, and its delegated powers
o Review transactions, limits, and regulatory parameters in line with the credit risk framework to ensure that risk appetite remains within established tolerance levels
o Identifying risks arising from the entity; including an independent risk oversight of credit exposure booked in the entity.
o Report the credit risk portfolio of SG India branch to the Management (Risk Management Committees) and to Regional CRO by conducting portfolio analysis
• Market Risk and Counterparty Risk:
o Implement an effective framework based on appropriate limits, in conformity with the bank’s risk policies
o Apply the appropriate measurement methodologies
o Analyze and control market risks generated by SG India branch market activities.
o Provide appropriate level of information to the Management (Risk Management Committee) and to his/her reporting line in RISQ regional office.
• Operational Risk:
o In conformity with the bank’s risk policies, implement framework for operational risk management as well as conducting independent review (if required) to ensure the overall set up is sound, efficient and aligned to local regulatory expectations
o Review, challenge and complement the implementation by the first line of defense of the norms and framework for operational risk management
o Provide Management (Risk Management Committees) and reporting line in RISQ regional office with an independent and consolidated view of operational risks on India.
• Liquidity & Structural Risk:
o In conformity with the bank’s risk policies, implement framework for liquidity and structural risk
o Ensure that whole firm principles apply locally, taking into account any specificity
o Provide Management (Risk Management committees) and reporting line in RISQ regional office with an independent and consolidated view of liquidity and structural risks on India
• Environmental and Social Risk:
o Ensure that whole firm principles apply locally, and if need be escalate for advice to the Regional team
