Principal, Compliance, Wealth & Retail Banking at Standard Chartered Bank

Job Summary

• Responsible, in my capacity as Principal: Compliance, Financial Crime & Conduct Risk (CFCR) Advisory, WRB supporting the Head, CFCR Advisory, WRB Nigeria, in managing and leading the Wealth & Retail banking (WRB) CFCR Advisory team in Nigeria, aligning this to the vision and strategy of the function, the Enterprise Risk Management Framework (ERMF), and delegation of authority documents where relevant.
• Responsible for the implementation of Compliance, Conduct and Financial crime compliance (FCC) policies and procedures for WRB processes to the extent that the processes have been identified as owned by the CFCR function, in line with the Group’s process universe as set out in the Group Operational Risk Framework, including activities within the processes owned by the CFCR function which are hubbed or outsourced.
• Insofar as they relate to WRB Products, Channels and Segments, conduct, financial crime and 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:
• Head, CFCR Advisory, WRB, Nigeria
• Country Head, CFCR, Nigeria
• Head, WRB Nigeria

Key Responsibilities

• To help the Group meet its commitment of being "Here for Good" by building a sustainable framework that places CFCR 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 Nigeria’s RB & WM Business.
• For the evaluation and assessment of the effectiveness of Nigeria’s Conduct, Financial Crime and Compliance commitments and requirements relative to the specific business coverage.
• To proactively support and challenge the Nigeria RB & WM businesses and supporting functions to exhibit appropriate conduct, comply with regulatory and compliance requirements and strive to achieve fair outcome for the Nigeria’s RB & WM CFCR 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 assist the Head, CFCR Advisory, WRB Nigeria and the Head, FCC, Nigeria to interface with and support all key stakeholders.
• For supporting the management of regulatory relationships with all relevant Nigerian regulators and such other regulators whose rules the Group is subject to.
• Drive high standards of regulatory compliance and deliver key priorities and initiatives, aligned to the RB & WM CFCC Advisory performance scorecard

Strategy

• Assist the Head, CFCC Advisory, WRB Nigeria to set and implement the vision, strategy, direction and leadership for RB & WM, CFCC
• Advisory teams, as set by group and consistent with the Head, CFCC, Nigeria’s vision and strategy for the CFCR function and in support of the Bank’s strategic direction and growth aspirations
• Support the Head, CFCR Advisory, WRB Nigeria to promote the culture and practice of compliance with CFCR standards (including conducting business within regulatory and internal policies’ requirements, and to high ethical standards) within the Bank and embed a Here for good culture and the Group Code of Conduct.
• Assist the Head, CFCR Advisory, WRB Nigeria to establish close links with colleagues leading other Client segments and/or Product
• Groups to achieve common platforms and work plans, implementing a One Bank approach to covering all Clients.
• Input, support and challenge Group/Region/Country/Client Business operating model design of the relevant CFCR and business processes.
• Provide timely regulatory advice and recommendations on key issues for the branch.
• Ensure AML regulations, policies and requirements are clearly communicated to branch staff.
• Provide support to the branch in complying with the new and changing regulations, as well as Group policies and standards.

Business

• Assist the Head, CFCC Advisory, WRB, Nigeria to develop a comprehensive understanding of Nigeria’s WRB business model and strategy in order to provide substantive oversight support and challenge with the intention of enabling appropriate and sustainable CFCR outcomes.
• Support to build and maintain an effective and constructive relationship with RB & WM businesses 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 WRB businesses and functions to meet/ achieve their strategic tactical objectives.
• Provide advice, analysis (and challenge when appropriate) in relation to the WRB businesses including product design, new business initiatives, bespoke projects, remedial activities (including nature, scale and rigour of past business reviews), and transactional advice.
• 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.
• Work closely with the WRB businesses and its operational teams to provide timely advice to ensure compliance with all relevant laws, regulations and internal policies and support the transition to pro-active and pre-emptive CFCR risk mitigation.
• Support the resolution of competing requirements between regulations specific to WRB businesses (i.e. between AML regulations and data privacy/bank secrecy or information security regulations.)
• Assist the Head, RB & WM CFCR, Advisory, Nigeria to establish and maintain risk-based compliance frameworks and a programme for monitoring and assuring compliance that supports the transition to pro-active and pre-emptive compliance and conduct risk mitigation
• Support the Head, CFCR Advisory, WRB Nigeria to promote the culture and practice of global standards to the business, while managing local requirements.
• Provide general CDD advisory to the branch and ensure the Bank operates in accordance with the relevant laws, regulations and Group policies in relation to KYC/CDD.
• Use general knowledge of business products undertaken in the jurisdiction to work with business compliance specialists to respond to regulatory questions as it relates to the branches

Processes

• 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 to the extent that CFCC advisory is the appropriate second line risk owner.
• Assist the Head, RB & WM CFCR, Advisory, Nigeria to develop, maintain and embed effective processes/DOIs (including training, advice and support) to address CFCR risks across RB & WM businesses aligning with relevant group policies and regulatory requirements where CFCR has first line obligation.
• Support the Head, CFCR Advisory, WRB Nigeria to provide governance and oversight over the implementation of CFCR related policies and procedures relevant to RB & WM businesses (to enable compliance with such policies and procedures).
• Provide support and challenge to Nigeria RB & WM senior management to ensure that they establish and monitor appropriate processes for compliance with CFCR policies, procedures and standards (including meeting regulatory obligations and maintaining high standards of conduct.
• Coordinates and performs Branch Reviews and Reporting
• Prepare and send MI to Country, Head Compliance on the activities within the branch. This includes reporting of trends and risks(both existing and emerging) for management actions and decisions

People & Talent

• Support the Head, CFCR Advisory, WRB Nigeria to promote and embed a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm.
• Assist the Head, CFCR Advisory, WRB Nigeria to stimulate an environment where forward planning, prioritisation, deadline management and streamlined workflows and collaborative, inclusive yet effective and efficient work practices are the norm.
• Assist the Head, CFCR Advisory, WRB Nigeria to 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.
• Support the Head, CFCR Advisory, WRB Nigeria to assess competency and skill of the Nigeria WRB business advisory team on an ongoing basis to ensure alignment of skill set to the risk management demands of the Nigeria WRB business.
• Ensure the provision of ongoing training and development in order that team members are competent, suitably skilled and qualified for their roles, ensuring that they have effective supervision in place to mitigate any risks.
• Assist the Head, CFCR Advisory, WRB Nigeria to review team structure/capacity plan to ensure an effective and efficient risk management framework
• Support the Head, CFCR Advisory, WRB Nigeria to 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 CFCR matters which should have a bearing on remuneration pools or individual bonuses (for senior staff).
• Support the Head, CFCR Advisory, WRB Nigeria to 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 of the Head, RB & WM CFCR, Nigeria
• Assist the Head, CFCC Advisory, WRB Nigeria to drive the migration of skill, knowledge, best practice and lesson learned across the network between CFCR Advisory colleagues especially in relation to legal/regulatory risks and compliance with relevant regulations and internal policies/standards as they pertain to RB & WM businesses. 

Risk Management

• In accordance with the Group’s Enterprise Risk Management Framework, act as second line Risk Owner for appropriate and relevant RB & WM business processes.
• Collaborate with the other Products CFCR teams, Group, Regional and Country CFCR Advisory Teams to anticipate horizon risks that may have a significant impact on the Bank and develop effective strategies to mitigate such horizon risks including global standards for conduct of business.
• Assist the Head, CFCR Advisory, WRB Nigeria to ensure effective management of the Nigeria RB & WM businesses’ CFCR Advisory
   matters, and in collaboration with the rest of the CFCR team, effectively manage regulatory issues that have a significant impact on  the Nigeria business including but not limited to conflicts of interest, cross – border and onshore/ offshore transactional support and  control (in partnership with Cross Border (XB) and Conflict of Interest (COI) Compliance teams).
• Collaborate with relevant senior managers to support a programme for conduct, financial crime and compliance monitoring, surveillance and/or assurance for the RB & WM businesses in Nigeria
• In the event of serious regulatory breaches, or where risk tolerances have been breached, assist the Head, CFCR Advisory, WRB

Nigeria to ensure senior management in the RB & WM businesses in Nigeria 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 risks, and proactive engagement in regulatory reform.
• Assist and work closely with the Group Shared Investigation Services team in relation to investigations concerning the RB & WM businesses in Nigeria.
• Liaise with the internal audit function to ensure that any CFCR weakness identified by the internal audit function relating to the RB & WM businesses in Nigeria are appropriately followed up and closed in a timely manner.
• Provide reports to the relevant Country and Business risk and control committees and management teams on key conduct, financial crime and compliance risks and issues pertaining to the RB & WM businesses in Nigeria.
• Assist the Head, CFCC Advisory, WRB Nigeria to maintain adequate management MI / trackers across all aspects of coverage and responsibility to ensure all issues and matters relating to the RB & WM businesses in Nigeria 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 relating to RB & WM businesses in Nigeria
• Support the Head, CFCR Advisory, WRB Nigeria to Provide advice on the application of risk management frameworks (e.g. ERMF) to relevant stakeholders on outcomes of risk identification and assessment methodologies.
• Assist the Head, CFCR Advisory, WRB Nigeria to maintain oversight of risk acceptance and/or mitigating action plans relating to RB & WM businesses in Nigeria
• Understand technical aspects of systems relevant to the RB & WM businesses in Nigeria.
• Assess risks arising from products / segments / geographies / customers / transactions.
• Assist the Head, CFCR Advisory, WRB Nigeria to ensure global standards are understood and implemented across the region, with any identified exceptions, or need for more/less stringent standards escalated when appropriate.

Governance

• Attend relevant leadership meetings, and provide relevant reports to senior management and governance/risk committees when delegated by the Head of CFCC Advisory, WRB Nigeria
• Assist the Head, RB&WM CFCC, Advisory, Kenya to be accountable for identification and escalation of potential risks and issues to

senior management through appropriate governance channels and the Quality Assurance framework.

• Ensure appropriate product governance measures are in place so that product approval documents reflect all relevant regulatory requirements.
• Assist the Head, CFCR Advisory, WRB Nigeria to propose control effectiveness and efficiency improvements and simplifications where appropriate
• Ensure the end-to-end life cycle of audit, assurance and regulatory reviews is managed appropriately, including tracking, remediation and preparing lessons learned from such reviews.
• Within the Group's Enterprise Risk Management Framework, establish and maintain appropriate risk based CFCR framework for

identifying, assessing, managing, monitoring, mitigating and reporting compliance (including regulatory and financial crime) risks across RB & WM business segments in Nigeria.

• Provide oversight over the branch and ensure adherence to local, national and international laws and the requirement that the branch staff show integrity and honesty in all their dealings

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.
 

• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Lead the CFCR Governance and WRB Nigeria team to achieve the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes

for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment

Key stakeholders

• Chief Compliance officer, Nigeria & West Africa
• Head, CFCR Advisory, WRB, Nigeria
• WRB leadership and segment Heads
• Operational Risk
• Legal
• Internal Audit
• Cluster CFCR teams
• Product and governance teams
• Regulators / supervisory bodies and Law Enforcement Agencies in Nigeria, including:
• CBN
• SEC
• NDIC
• NFIU
• EFCC
• DSS
• NDLEA
• CCB
• Other relevant authorities as applicable

Other Responsibilities

• Embed Here for good and Group’s brand and values in WRB team. Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures;

Skills And Experience

• Manage Conduct
• Manage Risk
• Manage People
• CFCR Policies and Standards
• CFCR Advisory
• CFCR Review and FCC Assurance
• Surveillance (including Screening and Monitoring)
• Investigations
• Compliance Risk Assessment
• Regulatory Liaison
• Manage Change
• Manage Projects

Qualifications

• Degree in Law, Finance, Business, Risk Management, Compliance, or related discipline.
• Strong experience in compliance, financial crime, conduct risk, governance, or regulatory oversight, ideally within banking or financial services.
• Deep knowledge of Nigerian banking regulation, WRB business models, governance frameworks, and financial crime risk management.
• Strong understanding of WRB products, customer processes, and product governance requirements.
• Demonstrated experience in regulatory engagement, inspections, audits, issue remediation, and governance reporting.
• CBN competency framework
• CAMS
• ICA
• Other relevant compliance / risk / governance qualifications