Associate Principal at Standard Chartered Bank

Ref No: 2200011411
Job: Compliance
Employee Status: Permanent

Role Responsibilities
Strategy:

• Support and implement the vision, strategy, direction and leadership for Compliance in Nigeria, consistent with Head, Compliance, Nigeria vision and strategy for the Compliance function, and in support of the Bank’s strategic direction and growth aspirations.
• Help the Group meet its commitment of being ‘’Here for Good’’ by building a sustainable compliance framework that places regulatory and compliance best practice standards, a culture of appropriate conduct at the forefront of the Group’s addenda.
• As an independent second line risk control function, execute the relevant aspects of the Compliance framework through robust independent risk control and the provision of specialist advice, approvals and constructive challenge in a manner proportionate to the nature, scale and complexity of the Group’s business.
• Proactively support and challenge the Group’s businesses and functions to exhibit appropriate conduct, comply with regulatory and compliance requirements and strive to achieve fair outcome for the Group’s clients. 
• Evaluate the effectiveness of the Group’s compliance efforts.
• Manage regulatory relationships with each of the regulators, whose rules the Group is subject to.
• Maintain constructive and effective relationships with Business/Function Heads as well as all key stakeholders within the businesses and functions. 
• Escalate regulatory risk issues and provide details of the developments to Head, Compliance and other relevant stakeholders.
• Maintain independence and deliver timely responses at all times

Business:

• Build and maintain an effective and constructive relationship with all key stakeholders within the businesses and functions that is based on trust, capability and integrity, providing timely, responsive and quality regulatory compliance advice and guidance to enable the business or function achieve their strategic tactical objectives
• Provide regulatory advice, approvals, analysis (and challenge when appropriate) in relation to the launch of new products, new business initiatives, bespoke projects, remedial activities.    
• Review and approve correspondence with the regulators and other regulatory engagement requests by the business/function.   
• Provide robust challenge to senior management and all relevant business/function stakeholders where activities are outside the Bank’s risk tolerance, escalating as necessary, until appropriate oversight and ownership is achieved including actions and plans to address any remedial action needed to return within risk tolerance. 
• Work closely with the businesses and functions to provide timely regulatory compliance advice to ensure compliance with all relevant laws and regulations and support the transition to pro-active and pre-emptive compliance and conduct risk mitigation. 
• Work closely with the Business compliance team to ensure compliance and regulatory issues within their business or function is address promptly. 
• Organise stakeholders’ engagement meeting to ensure new/amended regulations are understood and embedded properly within the Bank.  Where ambiguities exist, escalate this to the Head, Compliance and engage the relevant regulatory authority for clarification. 
• Engage the regulators on behalf of or in collaboration with the business/function on ad-hoc and strategic requests.

Processes:

• Establish and maintain effective processes (including training, advice and support) to ensure that policies, procedures and standards to address compliance and regulatory risks are effectively implemented and adhered to across the Bank. 
• As an independent second line risk control function, provide support and challenge the businesses and functions to ensure that they establish and monitor their processes for compliance with regulatory standards and Group policies & procedures. 
• Drive and ensure the successful implementation of the Bank’s Procedure for Handling New and Amended regulations. 
• Manage Internal Audits of the Compliance function and any other ad-hoc Country audits where Compliance is the Risk Owner to ensure a fair and positive outcome

People and Talent:

• Lead through example and build the appropriate culture and values.  Set appropriate tone and expectations from the team and work in collaboration with other risk and control partners. 
• Ensure the provision of ongoing training and development of people and ensure that holders of all regulatory/controlled functions are competent, suitably skilled and qualified for their roles in line with regulatory standards.   
• Contribute to the recruitment and development of talent within the Compliance team.
• Regularly review the performance and compliance advisory role of direct or indirect reports and support the Head, Compliance as required in the management of staff performance. 
• Ensure regular management meetings with direct or indirect reports; assess competency and skill of the team on an ongoing basis to ensure this is relevant to the risk management demands of the business or function.
• Ensure the team is adequately resourced and fully capacitized to reach our true potential.

Risk Management:

• Support the Head, Compliance in his role as Risk Owner for Compliance processes as defined in the Bank’s Risk Management Framework. 
• In collaboration with the Regional Compliance Assurance team, prepare and drive the Compliance Risk Assessment for Nigeria.  Ensure that all compliance/regulatory risks are reflected in the Country Risk Assessments, with compliance reviews or other actions established where necessary and that adequate remedial action are in place. 
• Ensure effective management of compliance matters, and in collaboration with Business Compliance, effectively manage regulatory and other compliance issues that have a significant impact on the business or function. 
• In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management in the Bank and relevant regulators are informed and that actions are taken to mitigate the risk.  Ensure proactive and timely identification, assessment, advice and dissemination of new or amended regulations. 
• Support the Head, Compliance in managing and implementing the Bank’s Operational Risk framework within the Compliance function. 
• Provide reports to relevant Group, Regional and Country Risk and Executive Committees on key compliance and regulatory risk issues. 
• Maintain adequate MI or tracker to ensure all compliance and regulatory issues are assessed, tracked and reported.
• Ensure global standards are understood and implemented locally, with any identified exceptions, or need for more/less stringent standards escalated as appropriate.
• Provide thought leadership on the execution of local and international regulations to ensure regulatory and compliance risks are managed effectively.  

Governance:

• Within the Group’s overall Risk Management Framework, establish and maintain appropriate risk-based compliance frameworks for identifying, assessing, managing, monitoring, mitigating and reporting compliance/regulatory risks across the businesses and functions.
• Where required, develop Country specific Compliance policies and procedures and obtain the necessary approvals from the relevant governance forum.
• Represent the Head, Compliance at Country Risk Committee meetings.
• Support the Head, Compliance in implementing the agenda for the Anti-Bribery and Corruption Working Group.      
• Escalate regulatory breaches or issues, regulatory examinations and other relevant matters to the Region and Group via One point or any other governance reports.  
• Manage GIA Audits and ensure Audit Socializations are reviewed to prevent occurrence in Nigeria

Data Privacy / Protection:

• Ensure Compliance with the requirements of GDPR and the Nigeria Data Protection Regulation (NDPR).
• Implementing the requirements of NDPR
• Liaise with the DPCO for the annual audit and ensure filing to the National Information Technology Development Agency (NDPR) as required by the NDPR
• Informing and advising the Group on its Privacy obligations for Nigeria, and monitoring compliance with these obligations
• Acting as the single point of contact with the Data Protection Supervisory Authority of Nigeria
• Keeping the GDPO informed of relevant Privacy related matters and emerging issues concerning their respective country.
• Review data breaches and approve/ give comments on the data breach portal.
• Determine if a data breach is reportable to the regulators and report where necessary in line with the regulation.

Project / Change Management:

• Actively participate and represent Compliance function in Project Working Groups set up by the Group or Country. 
• Manage Compliance projects on behalf of the Head, Compliance to ensure timely delivery and a positive outcome
• Participate in industry forums on regulatory reforms organised by the bank’s key regulators or other regulatory bodies

Regulatory & Business Conduct:

• 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.
• Support the Nigeria CFCC Governance function to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients; Financial Crime Compliance; The Right Environment.] *
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders:

• Engagement with Bank’s Senior Management and other key stakeholders within the businesses and functions
• Engagement with the Bank’s key regulators
• Regional Compliance Assurance team
• Engagement with Group Internal Audit
• Nigeria Compliance and FCC team
• Group Central Compliance team
• Business Compliance team
• Country Operational Risk team
• Business and Function Operational Risk Managers
• Branch Managers.

Other Responsibilities:

• Embed Here for good and Group’s brand and values in Nigeria and within the Compliance team
• Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
• Coordinate Compliance trainings for Support functions
• Manage ad-hoc requests on behalf of the Head, Compliance.

Our Ideal Candidate 

• Academic Qualifications - Bachelor’s degree in Accounting / Law
• Professional Qualification - Professional Qualification in Accounting ( Member, Institute of Chartered Accountants of Nigeria), Taxation (Member, Chartered Institute of Taxation of Nigeria), Compliance (Associate Member, Compliance Institute of Nigeria), and Certified Member, Association of Certified Anti-Money Laundering Specialists (ACAMS).