The Role Responsibilities
Responsible for supporting the Head, CFCC, DIFC and CFCC Advisory, UAE, ADGM and DIFC, and the Head, CFCC Advisory, TB, AME (collectively referred to as my "Line Managers") in managing all regulatory, conduct, financial crime and compliance risks relating to CCIB, with a focus on TB Businesses, and aligning this to the vision and strategy of the function, the Enterprise Risk Management Framework (ERMF), and delegation of authority documents where relevant
- Segment / Product: CCIB business and operations wide, with a focus on Transaction Banking (TB);
- Geographic: UAE, DIFC, ADGM, and MENA Cluster
First line responsibility for the implementation of Compliance, Conduct and FCC policies and procedures to the extent the processes have been identified as owned by the CFCC function, in line with the Group, process universe as set out in the Group Operational risk Framework, including activities within the processes owned by the CFCC function which are hubbed or outsourced (if any).
In so far as they relate to compliance, financial crime and conduct, responsible for providing details of development 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).
- Head, CFCC, DIFC and CFCC Advisory, UAE, ADGM and DIFC
- Head, CFCC Advisory, TB, AME (or similar roles as the Head, CFCC, CCIB AME appoints)
- The relevant Heads of Business and Operations, and supporting function
- To help the Group meet its commitment of being "Here for Good" by building a sustainable framework that places Compliance, Conduct and FCC best practice standards, at the forefront of the Group's agenda.
- 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 the business and support functions.
- To assist with the evaluation and assessment of the effectiveness of the Group's Conduct, Financial Crime and Compliance Risk Frameworks.
- To proactively support and challenge the business and supporting functions to exhibit appropriate conduct, comply with regulatory, conduct, financial crime and compliance requirements and strive to achieve fair outcome for clients.
- For maintaining independence, delivering timely responses, and timely escalation of risks and issues where the management tolerance of the firm is exceeded.
- For maintaining constructive and effective stakeholder relationships with the relevant business and supporting functions, and to my Line Managers to interface with and support all key stakeholders.
- For supporting the management of regulatory relationships with relevant regulators, whose rules the Group is subject to.
- Assist to set and implement the vision, strategy and direction of the CFCC function, and in support of the bank's strategic direction and growth aspirations.
- Support and promote the culture and practice of compliance with CFCC 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 and maintain close links with CFCC colleagues leading other client segments and/or product groups and MENA Cluster countries to achieve common platforms and work plans, implementing a One Bank approach to covering all Clients.
- Input to business and operations operating model design of relevant Compliance, FCC and business processes.
- Develop a comprehensive understanding of the CCIB business models and strategy in order to assist in providing oversight support and challenge in order to enable appropriate and sustainable CFCC outcomes.
- Support 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 conduct, financial crime & compliance-related advice and guidance to enable the business and functions to meet/achieve their strategic tactical objectives.
- Provide conduct, financial crime and compliance-related advice, analysis (and challenge when appropriate) in relation to CCIB business, including product design, new business initiatives, bespoke projects, remedial activities (including nature, scale and rigour of past business reviews), and transactional advice.
- Provide 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.
- Work closely with the business and its operational teams to provide timely advice to ensure compliance with all relevant laws and regulations and support the transition to pro-active and pre-emptive CFCC risk mitigation.
- Support the resolution of competing requirements between regulations specific to CCIB business (i.e. between AML regulations and data privacy/bank secrecy or information security regulations.)
- Support the establishment and maintenance of risk-based compliance frameworks and the programme for monitoring and assuring compliance that supports the transition to pro-active and pre-emptive compliance and conduct risk mitigation, in relation to the CCIB business.
- Promote the culture and practice of global standards to the business, while managing local requirements
People & Talent
- Act under delegation from the respective Risk Framework Owners for the principal risk types of Compliance, Conduct and FCC in discharging the responsibilities contained in the ERMF relating to CCIB b usiness to the extent that CFCC Advisory, CCIB is the appropriate second line risk owner.
- 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 CCIB business such as name screening or transaction monitoring.
- Support and maintain effective policies/processes/DOIs (including training, advice and support) to address conduct, financial crime and compliance risks, aligning with relevant regulatory requirements .
- Provide governance and oversight over the implementation of CFCC related policies and standards (to enable compliance with such policies and standards).
- Provide support and challenge to CCIB senior management to ensure that they establish and monitor appropriate processes for compliance with CFCC policies, standards (including meeting regulatory obligations and maintaining high standards of conduct).
- Help promote and embed a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm.
- Support the stimulation of an environment where forward planning, prioritisation, deadline management and streamlined workflows are collaborative, inclusive yet effective and efficient work practices.
- In accordance with the Group's Enterprise Risk Management Framework, act as second line Risk Owner for appropriate and relevant CCIB processes.
- Collaborate with the UAE and DIFC Country CFCC team and Regional CFCC Advisory teams to anticipate horizon risks that may have a significant impact on the Bank and develop effective strategies to mitigate such horizon risks.
- Assist in the management of CFCC CCIB Advisory matters, and in collaboration with the rest of the CFCC team, effectively manage regulatory issues that have a significant impact on the CCIB business.
- Collaborate with relevant senior managers to support the programmes for conduct, financial crime and compliance monitoring, surveillance and/or assurance.
- In the event of serious CCIB related regulatory breaches, or where CFCC related risk tolerances have been breached, ensure senior management and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased.
- Ensure proactive and timely identification, assessment, advice and dissemination of evolving regulatory changes/practices and associated regulatory, compliance and financial crime related risks, and proactive engagement in regulatory reform in relation to CCIB product and client related activities.
- Provide reports to relevant Country and Business risk and control committees and management group on key conduct, financial crime and compliance risks and issues.
- Provide advice on the application of risk management frameworks (e.g. ERMF) and provide advice to relevant stakeholders on outcomes of risk identification and assessment methodologies
- Support in providing oversight of risk acceptance and/or mitigating action plans.
- Provide reports to relevant risk and control committees and management group on key compliance risks and issues .
- Ensure global standards are understood and implemented locally, with any identified exceptions, or need for more/less stringent standards escalated for relevant joint-decision making.
- Understand technical aspects of relevant systems.
- Support delivery of annual CFCC Risk Assessments, including the Compliance Risk Assessment (CRA), Product Risk Assessment (PRA), and Group Risk Assessment (GRA).
Project /Change Management
- Assist in the identification and escalation of potential CFCC Advisory, CCIB related, risks and issues to senior management through appropriate governance channels and the Quality Assurance framework.
- Support appropriate product governance measures on conduct, financial crime and compliance so that product approval documents reflect all relevant regulatory requirements.
- Propose control effectiveness and efficiency improvements and simplifications where appropriate.
- Within the Group's ERMF, support the establishment and maintenance of an appropriate risk based CFCC framework for identifying, assessing, managing, monitoring, mitigating and reporting compliance (including regulatory and financial crime) risks across business.
- Support management MI / trackers across all aspects of one's coverage and responsibility to ensure all issues and matters relating to business are tracked, followed, regularly assessed and reported on, including oversight of risk acceptance and/or mitigating action plans, identification and management of high risk clients or specific country reviews.
Assist and support on key change programmes and projects for CFCC Advisory and the CCIB business and operations. Regulatory Relationships and regulatory Changes
Collaborate with and support other CFCC teams, where required, the country CFCC teams in the MENA Cluster in relation to:
Regulatory & Business Conduct
- The identification and inclusion of relevant CCIB matters for discussion in the Government & Regulatory Relationship Plans ("GRRPs");
- The management of regulatory inspections and identification of regulatory reform that directly relates to CCIB business;
- The provision of briefings and guidance to CCIB management on relevant regulatory matters;
- Ensuring CCIB business is properly prepared for routine regulatory exams, audits and supervisory inspections, as well as to managing the response from the CCIB business ; and
- Support relevant stakeholders to respond to regulatory questions.
About Standard Chartered
- Display exemplary conduct and live by the Group Values and Code of Conduct.
- Effectively and collaboratively identify, esclate, mitigate and resolve regulatroy, conduct, financial crime and compliance matters.
- Take personal responsibility for embedding the highest standards of ethics, inlcusing regulatory and business conduct, across the Bank, This includes understanding and ensuring compliance with, in letter and spirit, all applicbale law as, regulations, guideliness and the gtoup Code of Conduct.
- 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.
- Visit our careers website www.sc.com/careers