Job Vacancies at Standard Chartered Bank Nigeria

Job ID: 2200002026
Job: Compliance
Employee Status: Permanent

The Role Responsibilities
Strategy:

• Support the implementation of the FCC strategy in country by escalating appropriate FCC and AML issues.

Business:

• 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.

Processes:

• Develop, keep up-to-date with the changes in external and internal regulations including appropriate policies, processes and DOIs to address financial crime risks.
• Ensuring compliance with Nigeria governance processes and FCC-related policies and procedures in Nigeria.
• Provide advice to relevant stakeholders (including escalation to line managers and senior leadership) on compliance with Group standards relating to AML.
• Responsibility for processing AML investigations end to end, from initial referral through to the outcome of the case (closure in Detica/escalation to regulators).
• Adhere to Nigeria AML investigations procedures and ensure initial review of each allocated case is carried out within 1-3 working days of allocation and RFIs within the first 6 working days of allocation.
• Processing and concluding cases allocated in a timely manner within agreed TATs where possible – including CMLCO SAR TATs.

People and Talent:

• Promote a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm.
• Ensure forward planning, prioritisation, deadline management ,and streamlined workflows and collaborative, inclusive yet effective and efficient work practices are the norm.
• Support the training and development of new analysts in the team by providing on the job support.

Risk Management:

• Support the day to day management of Transaction Surveillance and Ad Hoc AML Investigation activity for the Nigeria by developing and deploying sound analytical skills to produce balanced judgements in relation to AML and financial crime risk.
• Produce high quality investigations resulting in good quality SARs provided to the CMLCO for review.
• Ensure the suitability and quality of case data maintained on enterprise case management systems and internal logs (Investigation tracker, Watch Lists, SAR log and LCM log as appropriate).
• Understand technical aspects of systems relevant to CDD, Client Risk Assessments, Name and Transaction Screening, AML Monitoring and Case Management.
• Utilising existing data analytic tools/techniques/and systems to optimise the quality of casework including all available systems for Nigeria (EBBS, EOPs, Accuity).
• Identify and highlight any compliance gaps in existing controls or relevant systems.
• Ensure that detection scenarios that are deployed are fit-for-purpose, providing feedback where false positives or immediate emerging risks are identified locally.
• 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 – including following up on CMLCO decisions and tracking outcomes.
• Assess risks arising from products / segments / geographies / customers / transactions.
• Identify and escalate any potential risks AML/ and other financial crime risks to the relevant stakeholders.
• Provide intelligence inputs to support calibration of FCC risk typologies and utilise the internal IX and ICE protocols to ensure global escalation of core issues where appropriate.
• Conduct a root cause analysis on the control/other failures to ensure lessons are learned across the FCC Nigeria Controls Team.

Governance:

• Propose control improvements, enhancements and simplifications where appropriate.
• Support all control checks undertaken by FCC Nigeria under the Operational Risk Framework (ORF) and drive remediation action within the FCC function where appropriate.
• Analyse and interpret data to produce reports that help the bank identify and manage emerging areas of risk / vulnerability and  support in the remediation action within the FCC Nigeria function.

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 FCC Nigeria function to achieve the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes for Clients; Effective Operation of Financial Markets; Financial Crime Prevention; The Right Environment
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders:

• Nigeria FCC, Business Advisory and Compliance teams
• Nigeria and Regional Sanctions teams
• Regional FCC Controls team
• Direct manager and Countersigning Manager
• IMO
• CDD OPs

Other Responsibilities:

• Embed Here for Good and Group’s brand and values in Nigeria FCC Controls & Nigeria Compliance.
• Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Our Ideal Candidate:

• Relevant qualifications such as ACAMs and FCC training academy.

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Job ID: 2200002809
Location: Lagos
Job: Risk
Schedule: Full-time
Employee Status: Permanent

Role Responsibilities

• The management and monitoring of all the operational risk Standard Chartered Group and its subsidiaries are exposed to as a result of the business activities and processes that exist in both the Business and Function teams in Nigeria. This includes oversight of the operational risk profile of the SCB organisation, Nigeria and working with the teams to identify material risks requiring management attention.

Strategy:

• Inform the development of business and support functions plans, exercising appropriate focus on the implementation of robust operating environments, within risk appetite, to support business aspirations.

Business:

• Awareness and understanding of the wider business, economic and market environment in which the Group operates

Processes:

• Framework and standards formulation, implementation and assurance
• Framework Certification
• Risk Reporting

Risk Management:
Risk Appetite:

• Periodically assess the Business operational risk profile to maintain alignment with the Country risk appetite.
• Review and challenge Business strategy where this is not aligned with the Country risk appetite;
• Maintain operational risk capability and a control environment which is in line with the operational risk appetite

Risk Control Ownership of operational risk:

• Provide a central contact point and oversight over all controls required to effectively manage operational risk within the Business that arises from the end to end processes.
• Challenge the completeness of risk identification, monitoring and assessment of the corresponding control activities required within the end to end processes to identify and follow through the remediation by the 1st line of any significant deficiencies.
• Ensure compliance with Operational Risk policy & procedures.
• Where the country 1st line redesigns controls in response to internal and external factors, validate such redesign and ensure global sign off on the redesign prior to implementation in the Business.

Risk identification and Assessment:

• Validate and challenge the first line risk identification and assessment of gross and residual risks arising within the end to end processes.
• Assess the control environment including, but not limited to, control design, control execution, control testing and control history.
• Recommend changes to the control environment or to business practice where necessary to reduce the level of operational risk exposure to within the agreed appetite. Ensure such changes are agreed with global process owners and global OR Officer for that function prior to Business implementation.
• Review the design of effective process controls by the 1st line to manage all material risks linked to the process control failure:
  • Identify Local Control Gaps - Regularly assess all key controls against the Business/Country risk profile to monitor exceptions and identify gaps.
  • Optimise portfolio of local controls - Regularly assess existing Local Key Control Standards, key risk indicators (KRIs) and key control indicators (KCIs) to ensure cost effectiveness, efficiency and relevance.
• Provide a balanced and informed assessment of all operational risks arising from acquisitions or major change initiatives or projects within the Country.

Risk Acceptance:

• Review and approve risk record templates for acceptance of medium, high and very high Business level risks.
• Accept the classification and accurate reporting of operational risk events and the appropriateness of mitigation actions.
• Challenge relevant Business units’ activities where risks are not aligned with control requirements or risk appetite.
• Sign off on new products on behalf of Operational Risk through the Country Addenda process.

Risk Monitoring:

• Ascertain and confirm that Business risk registers, KRIs, KCIs, and control sample testing are effectively implemented.
• Periodically review operational risk assessments to ensure these appropriately reflect changes in environment, mitigating controls and the progress of treatment plans.
• Systematically monitor process control effectiveness where there are material risks of process control failure.
• Work with local Business and Functions representatives to receive control and risk metrics in order to monitor KRIs and KCIs.
• Review and update annual key control testing plans.

Risk & Loss Reporting:

• Ensure that risks requiring acceptance as escalated as per the policy for Operational Risk Assessment and Acceptance
• Approve the classification and accurate reporting of operational risk losses.
• Report and escalate significant operational risk events (SORE).
• Deliver Root Cause Analysis reports for relevant events
• Provide risk information/updates to Country Operational Risk Committee (CORC)/ Country Risk Committee as appropriate.

Stress Testing:

• Conduct, at least annually and with guidance from Group specialists, a stress test and scenario programme for operational risk [as part of ICAAP], review the results and assess their implications.

Root Cause Report:

• Ensure that operational losses, near misses and audit fails are escalated to Group Functions in a timely fashion within the 1st line & Group OR
• Support the preparation and ensure the delivery of RCA for Unsatisfactory Operational Risk event as per procedure.

Strategy & Planning:

• Inform the development of country business plans, exercising appropriate focus on the implementation of robust operating environments, within risk appetite, to support business aspirations.

Governance:
Risk Governance:

• Align the business operational risk management approach to the Operational Risk Framework and the Risk Management Framework and oversee its effective application.
• Ensure that the Business Head and Unit Heads and relevant staff understand and accept their operational risk management responsibilities.
• Represent Operational Risk in the Retail Clients Operational Risk Forum and Functions Operational Risk Forums in the country.
• Support training initiatives from Group OR, wherever required, and when time permits, to Business UORMs.
• Provide support to the Cluster Operational Risk Officers in their duties in the governance Secretariats and in advisory capacity.

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 Operational risk team to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients; Effective Operation of Financial Markets; Financial Crime Prevention; The Right Environment.]
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders:

• Business & Function Heads
• Group Operational Risk
• Country / Group Internal Audit
• External auditors and regulators

Other Responsibilities

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