Job: Compliance
Primary Location: Africa & Middle East-United Arab Emirates-Dubai
Schedule: Full-time
Employee Status: Permanent
Posting Date: 08/Sep/2020
Unposting Date: Ongoing
About Standard Chartered
We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.
To us, good performance is about much more than turning a profit. It’s about showing how you embody our valued behaviours – do the right thing, better together and never settle – as well as our brand promise, Here for good.
We’re committed to promoting equality in the workplace and creating an inclusive and flexible culture – one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.
The Role Responsibilities
I am responsible for managing the Retail Banking and Wealth CFCC function in AME:
Cascade and ensure implementation of appropriate Compliance, Conduct and FCC policies and procedures in the region as approved by the relevant governing body (as necessary) under the Group’s governance framework.
Support the Global Head, CFCC, Retail Banking, Global Head, CFCC, Wealth Management, and Head FCC AME in promoting the culture and practice of organisational compliance with Compliance, Conduct and FCC standards within Retail Banking and Wealth (“Retail and Wealth”) in AME
Ensure establishment and maintenance of frameworks to identify, assess, manage, monitor, mitigate and report Compliance, Conduct and FCC risks across Retail and Wealth.
Responsibility for managing members of the AME Retail and Wealth CFCC teams (“AME Retail and Wealth Team”) and ensuring that the team has the capacity and capability to support Retail and Wealth in their respective countries.
Promote the culture and practice of organisational compliance with Compliance, Conduct and FCC standards within Retail and Wealth in AME.
Ensure the establishment and maintenance of frameworks to identify, assess, manage, monitor, mitigate and report Compliance, Conduct and FCC risks across Retail and Wealth in AME.
As an independent second line risk control function, to execute the relevant aspects of the Compliance, Conduct and FCC PRTFs through robust independent risk control and the provision of specialist advice and constructive challenge in a manner proportionate to the nature, scale and complexity of AME’s Retail and Wealth businesses.
To proactively support and challenge the AME’s Retail and Weath businesses and supporting functions to exhibit appropriate conduct, comply with regulatory and compliance requirements and strive to achieve fair outcome for the AME’s clients.
For maintaining constructive and effective stakeholder relationships with the relevant business and supporting functions, and to assist the Global Head of CFCC Advisory and the Global Co-Heads of FCC to interface with and support all key stakeholders.
For supporting the management of regulatory relationships with the Group’s regulators, whose rules the Group is subject to.
Insofar as they relate to regulatory compliance, I am responsible for providing details of developments giving rise to a material risk that serious regulatory breaches or breaches of risk tolerances (as agreed by the Board from time to time) may occur and notifying any such breaches to (as appropriate):
the Regional Head, CFCC AME;
the Global Head, CFCC, Retail Banking
Global Head, CFCC, Wealth Management
Head FCC AME
the Head Retail Banking AME
Regional Head WM AME
I am responsible:
Strategy
To promote the culture and practice of Compliance, Conduct and FCC standards (including conducting business within regulatory requirements, and to high ethical standards) within the Bank and embed a Here for Good culture and the Group Code of Conduct.
Establish close links with colleagues leading across region, country, client segment and product, to achieve common platforms and work plans, implementing a One Bank approach to all Clients.
Input, support and challenge Group/Region/Country/Client Business operating model design of the relevant CFCC and business processes.
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 AME RB and Wealth CFCC function to achieve the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes for Clients; Effective Operation of Financial Markets; Financial Crime Prevention; The Right Environment.
Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Business
Develop a comprehensive understanding of the business model and strategy in order to provide substantive oversight support and challenge in order to enable appropriate and sustainable outcomes.
Build and maintain an effective and constructive relationship with all key business and functional stakeholders that is based on trust, capability and integrity, providing timely, responsive and quality advice and guidance to enable the business and functions to meet/ achieve their strategic tactical objectives.
Provide robust challenge to senior management and all relevant business stakeholders where activities are outside risk tolerance/ appetite, escalating as necessary, until appropriate oversight and ownership is achieved including actions and plans to address any remedial action needed to come back within risk tolerance/ appetite.
Provide advice, analysis (and challenge when appropriate) in relation to the full product life cycle including product design through to post sale reviews / assessments, new business initiatives, bespoke projects, remedial activities (including nature, scale and rigour of past business reviews), and transactional advice.
Work closely with the business and its operational teams to provide timely advice, support and challenge to ensure compliance with all relevant laws and regulations and support the transition to pro-active and pre-emptive Compliance, Conduct and FCC risk mitigation.
Maintain global Compliance, Conduct and FCC standards which includes taking flexible approaches to RB client onboarding where Group standards are met and a risk based approach permits.
Support resolution of competing requirements between regulations, for example between AML regulations and data privacy/bank secrecy or information security regulations.
Processes
Act under delegation from the respective Risk Framework Owners for the principal risk types of Compliance, Conduct and FCC in discharging the responsibilties contained in the ERMF for RB and Wealth to the extent that CFCC Advisory is the appropriate second line risk ower.
The role holder is not responsible for CFCC first line processes unless specifically delegated by and/or agreed with the group process owner. This includes CFCC processes operated to manage risks in RB such as name screening or transaction monitoring.
The role holder is not responsible to ensure that RB, Wealth and CFCC process owners agree their respective handoffs, which ought to be documented in a service level agreement. However, consistent with the CFCC advisory second line responsibilites under the ERMF, the role holder is responsible to ensure that in the absence of an agreement or if responsibiilties are poorly executed, the risks inherent in RB and Wealth are addressed in RB and Wealth in line with the ERMF.
Develop, maintain, and recommend for approval by the relevant Risk Committees, appropriate and effective policies/processes/DOIs (including training, advice and support) to address CFCC risks across RB and Wealth, aligning with relevant regulatory requirements.
Provide governance and oversight over the implementation of Compliance, Conduct and FCC related policies and procedures relevant to RB and Wealth (to enable compliance with such policies and procedures).
People and Talent
Lead through example and build the appropriate culture and values. Set appropriate tone and expectations for my team and work in collaboration with risk and control partners.
Promote and embed a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm.
Stimulate an environment where forward planning, prioritisation, deadline management and streamlined workflows and collaborative, inclusive yet effective and efficient work practices are the norm.
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.
Assess competency and skill of the team on an ongoing basis to ensure alignment of skill set to the risk management demands of the RB and Wealth businesses.
Ensure the provision of ongoing training and development of people, and ensure that holders of all critical functions are competent, suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
Review team structure/capacity plans to ensure an effective and efficient risk management framework.
Employ, engage and retain high quality people, with succession planning for critical roles.
Provide feedback at business, function, country and individual level as appropriate, on CFCC matters which should have a bearing on remuneration pools or individual bonuses (for senior staff).
Regularly and on a timely basis appraise performance as well as proactively manage attrition when needed.
Ensure regular and documented management meetings with direct reports.
Drive the migration of best practice and lessons learned across the network especially in relation to legal/regulatory/financial crime risks, conduct and compliance with relevant regulations and internal policies/procedures as they pertain to RB and Wealth.
Key Stakeholders
AME Retail Banking senior management
Regional Head WM AME
AME Country Compliance Heads
AME Country FCC Heads
AME FCC Risk Manager
AME Individual Country Regulators
AME Compliance Management Team
AME General Counsel
AME COO
AME Retail Risk
AME Operational Risk
Group Internal Audit AME
Our Ideal Candidate
Substantial experience in compliance and regulatory risk management.
Substantial experience in the banking industry and within the Group
Sharp business acumen (including ability to assess risk and appropriate levels of return), strong leadership qualities, excellent interpersonal skills and multi-cultural awareness and sensitivity.
Strategic vision for the function.
Ability and experience in managing geographically dispersed and highly varied customer and product base.
Ability to collaborate and work dynamically across country, region, business and group stakeholders.
Understanding of best practice risk management techniques and frameworks.
Understanding of the key features of relevant laws and regulations relevant to the Group.
Sound judgement on business practices, regulatory relationship management and reputational risk.
Exemplary integrity, ethics, independence and resilience.
Personal authority with proven ability to establish relationships and provide strong direction at the most senior levels of the Group and with regulators and other external stakeholders.
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.