Manager, Financial Crime Compliance, Retail Banking at Standard Chartered Bank

Job ID: 520506
Location: Victoria Island, Lagos

Job Description

• Drive, coordinate and monitor initiatives and actions to ensure that the Bank operates in accordance with the relevant laws and regulations, policies and standards including those relevant to the prevention of money laundering regardless of whether these laws, policies or procedures are internal or not.

Key Roles and Responsibilities
Regulatory Risk Identification and Policy Setting:

• Leads in the identification of material regulatory risks in-country through measured analysis of factual scenarios and/or documentation.
• Anticipates, Assesses and communicates key regulatory risk trends in-country, for management consideration, and drives the development and implementation of appropriate mitigation control measures.
• Identifies new banking regulations and laws and ensures the implications are appropriately notified to all relevant parties.

Regulatory Advice:

• Provides timely regulatory advice and recommendations on key issues (including on Prudential Regulation) and proactively monitors regulatory developments;
• Provides guidance on proper application and interpretation of banking laws, regulations and policies applicable to the business segments;
• Ensure AML regulations, policies and requirements are clearly communicated to management and staff members,
• Set control standards and provides advice on the development of appropriate controls for the mitigation of regulatory risks.
• Assists in overseeing relevant administration and licensing as required by the local regulator(s).

Regulatory Compliance Training:

• Delivers or procures delivery of program of activities that educates and encourages managers and staff to operate in compliance with relevant laws, regulations and policies.
• Manage, coordinate and deliver appropriate training programme to ensure staff members are sufficiently trained to apply and administer AML related controls in their day to day business activities.
• Assists in the development of an effective country-wide compliance culture by promoting the benefits of ethical business conduct and compliance.

Compliance Monitoring:

• Establishes and coordinates the risk based Compliance Monitoring Plan.
• Coordinates and performs Regulatory Compliance Reviews
• Ensures all Control Room procedural requirements are met.

Compliance Reporting:

• Prepare reports that demonstrate clear understanding of issues and provide clear analysis during any of a number of Thematic Reviews (Compliance Monitoring Reviews) assigned during the year.
• Handle any ad hoc enquiries and surveys as requested by the regulators from time to time
• Completion of Anti Money Laundering (AML) Surveys circularized on us by Correspondent banks (upstream or downstream) and any other counterparty e.g. Visa, Wolfsberg Group.

Compliance Business Partnering:

• Uses general knowledge of business products undertaken in the jurisdiction to work with business compliance specialists to respond to regulatory questions, and to keep the local regulator updated on developments in the businesses.
• Assists the Country Head of Compliance and Senior Management in ensuring that the bank operates in accordance with te relevant local requirements and Group Regulatory Compliance Standards so as to protect and enhance the reputation of the Bank.
• Assist country management to ensure internal resources, systems, procedures and controls are in place, documented and operating effectively in order to mitigate money laundering risk.  Coordinates implementation of country level programs and initiatives to enhance AML awareness and effort.
• Provides timely support to business in complying with the new and changing regulations, as well as group policies and standards.
• Proactively drives the development and maintenance of good relationships with internal and external stakeholders at appropriate levels and ensures an open and cooperative environment.
• Ensures close working relationship with the business and Financial Crime Risk (FCR) resources.

CDD Advisory Services:

• Support the business Customer Due Dilligence (CDD) process through review and advisory services.
• Developing and maintaining Country Addenda and ensuring compliance with Nigeria Legislations.
• Updating and developing policies and procedures.
• Provision of deferrals, dispensations and approval where required by the Business and Functions.
• Partner with other compliance Advisors in other jurisdictions in order to provide advise on the suitability of CDD/KYC documents from other jurisdictions.
• Work with the Country Head of Compliance and Senior Management in ensuring that the bank operates in accordance with the relevant local requirements and Group regulatory compliance standards in relation to Know Your Customer (KYC)/CDD.
• Provide support to the business in complying with the new and changing regulations, as well as group policies and standards.
• Assist country management in ensuring that internal resources, systems, procedures, and controls are in place, documented and operating effectively in order to mitigate money laundering risks.
• Proactively drives the development and maintenance of good relationship with internal and external stakeholders at appropriate levels thereby ensuring our KYC/CDD is compliant.

Qualifications and Skills

• A minumum of a second class Degree from a recognised university.
• Ability to identify and dimension key CDD/regulatory compliance risks and mitigants.
• Excellent legal and compliance judgment to enable the provision of sound advice in difficult areas of law, regulation and practice and the proactive management of compliance risk
• Sound judgment of business practices and reputational risk
• Personal authority, integrity and a proven ability to establish relationships with senior stakeholders
• Excellent verbal and written communication skills
• Independence, robustness and resilience
• Qualified Accountant/lawyer
• A good performance track record.
• Product Knowledge:-  Knowledge of business areas and their products as well as the associated legal and regulatory requirements.
• Governance and Legal Structure: Knowledge of the system of internal controls that aids the effective management of the Group’s affairs locally.  Detailed knowledge of local risk reporting and governance structures;
• Interpretation, Guidance and Policy & Regulations’ Advisory: The ability to identify and assess relevant laws and regulations with a view to providing solutions to business needs. Detailed knowledge of local laws and regulations including an ability to anticipate future regulatory requirements premised on thorough research and thorough knowledge of group policies and how they apply to the local environment.  Ability to offer considered practical and cost effective solutions to ensure regulatory compliance.
• AML Advisory - achieve compliance with local AML regulations and Group AML policies and standards.  Timely identification and mitigation of significant risks.