Description of the Business Line or Department
Kleinwort Hambros (KH) operates a Three Lines of Defence (3 LOD) model to mitigate risk. The Fiduciary Risk & Assurance team forms part of the first Line of Defence (1LOD), but more specifically as the 1B control/ assurance function.
Summary of the key purposes of the role
The purpose of the IB assurance/ control function is to review and test the operational output and procedures of the 1LODA to identify any non- compliance with policies, procedures, and regulations and to implement corrective actions to address process and control deficiencies. This 1B risk assurance role requires to complete risk controls which evidences we are managing and challenging the 1A teams
Summary of responsibilities
-Manage implementation of 1B Fiduciary controls programme. Identify and install controls required. Prioritise with line manager controls to be addressed, implemented.
– Manage the timely monitoring and testing of 1B controls in place.
-Manage the completion of “thematic based” reviews and testing based on generic & systemic risk points using a mixture of random sample testing and control/monitoring analysis from NavOne.
-Identifying non-compliance with procedures and regulations by 1LOD. Monitor risk areas and follow up on non-compliance with SGKH/WPS policies and procedures to ensure Group Trust is compliant.
-Identifying risk issues for clients including potential litigation, claim, financial loss, reputational damage, tax issues or complaints against SGKH.
– Provide required reporting and analysis results from Control reviews and thematic testing.
-Preparation of reports for management committees and meetings, Report into the Risk & Operations Committee & the Fiduciary Audit & Risk Committee.
– Complete Morse plus and Group Permanent Supervision controls as required. Implement Morse/GPS/Fiduciary risk, monitoring & control, Fiduciary team controls etc as part of Control framework. Monitor completion timeframes for successful completion of controls by Control performers and controls validators
-Carry out short term Projects on behalf of line manager within the KPIs laid out in respect of each assigned project.
– Assist in the development of the risk control processes. Work with Operational Risk to ensure APRC framework is up to date and relevant. Review the Activities, processes, and controls in place. Ensure control templates are up to date and relevant.
-Conduct initial RCSA review on an annual basis and work with line manager as required to submit for validation and approvalWork with Risk Officer in SGTA to ensure the Fiduciary Risk Framework is implemented and respected by SGTA as fully as possible.