FCC Risk Specialist at Standard Chartered Bank

Ref No: 21000351

Job: Compliance
Employee Status: Permanent

The Role Responsibilities
Strategy:
Support Country Head of FCC and act as Deputy CMLCO (with appropriate regulatory approval obtained where required by country regulations) to: 

• Input to Group/Region/Country/Client Business operating model design of relevant FCC and business processes.
• Ensure that there is adequate support (people, processes, tools, frameworks, systems) in the Country for necessary FCC controls.
• Set and implement the vision, strategy, direction and leadership for the Country, consistent with the vision and strategy for FCC and in support of the Group’s strategic direction and growth aspirations.

Business:

• Analyse comprehensive impact of financial crime related regulatory matters on the relevants business area and its operations.
• Support relevant stakeholders to make decisions based on current and possible future policies, practices, and trends.
• Keep track of and provide advice to relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices and policies related to FCC.
• Support resolution of competing requirements between regulations, for example between AML regulations and data privacy/bank secrecy  or information security regulations.
• Ensure that risk frameworks and associated standards are effectively communicated and understood by process owners.

Processes:

• Providing governance and oversight over the implementation of FCC-related policies and procedures in country to ensure compliance with such policies and procedures.
• Provide advice (typically via CFCC Advisory) to relevant stakeholders on compliance with Group standards relating FCC risks
• Act as (second line) Risk Control Owner under the Group’s Risk Management Framework for those aspects of Regulatory Compliance relating to FCC risks and escalate issues as appropriate.
• Act as the delegated Risk Framework Owner under the Enterprise Risk Management Framework for AML
• Oversee the assessment of all AML risks identified in Business and Function (including FCC-owned) processes. 
• Ensure that where risks are outside appetite the root cause is determined and addressed.
• Act under delegated authority to make client specific risk decisions.
• Act as the principal point of contact for Country CFCC Advisory and responsible to join up the FCC-function so that effective outcomes are realized in first line processes requiring fewer touch points between FCC and the first line.
• Equip Country CFCC Advisory Heads & Country CFCC Governance Head with the necessary FCC skills and knowledge, and escalation points within FCC, to discharge their delegated authority for FC risks.
• Engage with Country CFCC Advisory Heads & Country CFCC Governance Head to ensure that FCC risks are effectively managed in the Businesses in line with the risk frameworks.
• Provide specialist expertise to Country CFCC Advisory by drawing on resources under direct control and leveraging the wider FCC function.

People and Talent:

• Provide leadership, management and coaching to direct reports to ensure they are highly engaged and performing to their potential.
• 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.
• Provide input at business, function, country and individual level as appropriate, on compliance matters which should have a bearing on remuneration pools or individual bonuses (for senior staff).
•  (…this is CMLCO’s responsibility)Ensure staff in Country have clearly articulated and well understood roles and responsibilities through meaningful and accurate job descriptions.

Risk Management:

• Understand technical aspects of systems relevant to CDD, Client Risk Assessments, Name and Transaction Screening, AML Monitoring and Case Management
• Provide advice on the application of risk management frameworks (e.g. ORF, GRA).
• Apply Group and FCC policies and processes (AML surveillance, client screening, risk assessment) to manage risks.
• Make recommendations (and/or implement) to relevant stakeholders on possible risk management responses to identified risks and/or findings of concerns from investigations.
• Assess risks arising from products / segments / geographies / customers / transactions.
• Inform senior management and relevant regulators of serious regulatory breaches (or where risk tolerances have been breached) and ensure that actions are taken quickly to remediate and/or activities are ceased.
• Anticipate horizon risks in the area of financial crime that may have a significant impact on the Group and develop effective strategies to mitigate such horizon risks.
• Advise relevant stakeholders on outcomes of FCC risks identification and assessment methodologies.
• Oversee the review and analysis of the client base to identify and manage high risk clients, or specific country reviews.

Governance:

• Support senior oversight of FCC country.
•  In the event of serious regulatory breaches, or where 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.
• Provide leadership to the FCC network as part of the Group senior FCC management team.
• Engage effectively with senior members of the Business and COO functions where needed. 
• Lead or influence significant programmes of work in the Group in support of the Group’s financial crime compliance objectives, for example major capability upgrades or remediation activities.

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.
• Lead the function to achieve the outcomes set out in the Bank’s Conduct Principles
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders:

• CMLCO, Head of FCC UAE and CMLCO, Head of FCC DIFC
• Country CFCC (sub) Teams
• Country Governance Team
• Regional CFCC Team
• Business Segments CDD Operations Teams
• Financial Crime Surveillance Unit (FCSU)
• Group i3
• Shared Investigations Service (SIS)
• UAE Central Bank Anti-Money laundering Financial Intelligence Department (AMLFID)

Our Ideal Candidate

• An FCC related qualification is desirable – such as ACAMS, ICA or CFE.