Compliance Advisory - Consumer, Private & Business Banking

Job Description

Job: Compliance Primary Location: Asia-Indonesia-Jakarta Schedule: Full-time Employee Status: Permanent Posting Date: 15/Dec/2021, 4:43:14 AM Unposting Date: Ongoing About Standard Chartered We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East. To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and never settle - as well as our brand promise, Here for good. We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base. The Role Responsibilities

Candidate is responsible:

• To help the Group meet its commitment of being "Here for Good" by building a sustainable framework that places Compliance, Conduct and FCC 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 the Group's CPBB (Consumer, Private, and Business Banking) businesses.
• For the evalution and assessment of the effectiveness of the Group's Conduct, Financial Crime and Compliance commitments and requirements.
• To proactively support and challenge the Group's businesses and supporting functions to exhibit appropriate conduct, comply with regulatory and compliance requirements and strive to achieve fair outcome for the Group's clients.
• For maintaining independence, deliveing 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 Country Head, CFCC and the Country Head, FCC to interface with and support all key stakeholders.
• For supporting the management of regulatory relationships with all of the Group’s regulators, whose rules the Group is subject to.
• Drive high standards of regulatory compliance and deliver key priorities and initiatives, aligned to the CPBB performance scorecard

Strategy

• Set and implement the vision, strategy, direction and leadership for CPBB (Consumer, Private, and Business Banking) CFCC Advisory teams, consistent with Country Head, CFCC vision and strategy for the CFCC function and in support of the Bank’s strategic direction and growth aspirations.
• Promote the culture and practice of compliance with CFCC standards (including conducting business within regulatory requirements, and to high ethical standards) within the Bank and embed a Here for good culture and the Group Code of Conduct.
• 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 to Country Business operating model design of relevant Compliance, FCC and business processes.

Business

• Develop a comprehensive understanding of the business model and strategy in order to provide substantive oversight support and challenge in order to enable appropriate and sustainable CFCC outcomes.
• Build and maintain an effective and constructive relationship with all key business 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 business and functions to meet/ achieve their strategic tactical objectives.
• Provide advice, analysis (and challenge when appropriate) in relation to the CPBB 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 business and its operational teams to provide timely advice to ensure compliance with all relevant laws and regulations and support the transition to pro-active and pre-emptive CFCC risk mitigation.
• Support the resolution of competing requirements between regulations specific to CPBB businesses (i.e. between AML regulations and data privacy/bank secrecy or information security regulations).
• 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
• Promoting the culture and practice of global standards to the business, while managing local requirements

Processes

• Act under delegation from the respective Risk Framework Owners for the principal risk types of Compliance, Conduct and FCC in discharging the responsibilties contained in the ERMF for to the extent that CFCC advisory is the appropriate second line risk ower.
• The role holder is not responsible for CFCC first line processes unless specifically delegated by and/or agreed with the group process owner. This includes CFCC processes operated to manage risks in CPBB such as name screening or transaction monitoring.
• The role holder is not responsible to ensure that CPBB and CFCC process owners agree their respective handoffs, which ought to be documented in a service level agreement. However, consistent with the CFCC advisory second line responsibilities under the ERMF, the role holder is responsible to ensure that in the absence of an agreement or if responsibilities are poorly executed, the risks inherent in CPBB are addressed in line with the ERMF.
• Develop and maintain effective policies/processes/DOIs (including training, advice and support) to address CFCC risks across CPBB, aligning with relevant regulatory requirements.
• Provide governance and oversight over the implementation of CFCC related policies and procedures relevant to CPBB (to enable compliance with such policies and procedures).
• Provide support and challenge to the Bank’s senior management to ensure that they establish and monitor appropriate processes for compliance with CFCC policies, procedures and standards (including meeting regulatory obligations and maintaining high standards of conduct).

People and Talent

• Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from their team and work in collaboration with risk and control partners.
• 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.
• 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.
• Assess competency and skill of the team on an ongoing basis to ensure alignment of skill set to the risk management demands of the CPBB business.
• Ensure the provision of ongoing training and development to ensure that team members are competent, suitably skilled and qualified for their roles, ensuring that they have effective supervision in place to mitigate any risks.
• Review team structure/capacity plan to ensure an effective and efficient risk management framework
• 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 CFCC matters which should have a bearing on remuneration pools or individual bonuses (for senior staff).
• 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.
• Drive the migration of skill, knowledge, best practice and lesson learned across the network between CFCC Advisory colleagues especially in relation to legal/regulatory risks and compliance with relevant regulations and internal policies/standards as they pertain to CPBB.

Risk Management

• In accordance to the Group’s Enterprise Risk Management Framework, act as second line Risk Owner for appropriate and relevant CPBB processes.
• Collaborate with the other Products CFCC teams, Group & Regional CFCC 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.
• Ensure effective management of CPBB CFCC Advisory matters, and in collaboration with the rest of the CFCC team, effectively manage regulatory issues that have a significant impact on the Group 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 CPBB.
• In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management in the Group 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 CPBB.
• Liaise with the internal audit function to ensure that any CFCC weakness identified by the internal audit function relating to CPBB activities are appropriately followed up.
• Provide reports to relevant Group and Business risk and control committees and management group on key conduct, financial crime and compliance risks and issues pertaining to CPBB.
• Maintain adequate management MI / trackers across all aspects of their coverage and responsibility to ensure all issues and matters relating to CPBB 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 CPBB.
• Provide advice on the application of risk management frameworks (e.g. ERMF).and provide advice to relevant stakeholders on outcomes of risk identification and assessment methodologies
• Maintain oversight of risk acceptance and/or mitigating action plans relating to CPBB.
• Provide reports to relevant Group and Business risk and control committees and management group on key compliance risks and issues
• Understand technical aspects of systems relevant to CPBB.
• Assess risks arising from products / segments / geographies / customers / transactions
• Ensure global standards are understood and implemented in locally, with any identified exceptions, or need for more/less stringent standards escalated to Regional Compliance for joint-decision making.

Governance

• Attend relevant leadership meetings, and provide relevant reports to senior management and governance/risk committees.
• 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.
• 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 CFCC framework for identifying, assessing, managing, monitoring, mitigating and reporting compliance (including regulatory and financial crime) risks across CPBB.

Project/Change management

• Lead key change programmes and projects for CFCC Advisory, CPBB.
• Maintain workplans specific to CFCC advisory projects/ initiatives, and communicate the same to stakeholders in a regular, timely fashion to inform and seek inputs.
• Review new business requirements and provide solutions for CPBB where required.
• Drive and stimulate an environment where forward planning, prioritisation and deadline management lead to efficient work practices and streamlined functional activities and processes.
• Provide skilled resources to support project / programme delivery
• Manage and protect business as usual (BAU) capability during change programme, as well as during the execution and delivery of the Remediation initiatives through project phase into BAU

Regulatory & Business Conduct

• Display exemplary conduct and live by the Group’s Values and Code of Conduct.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk and CFCC matters.
• Support relevant stakeholders to respond to regulatory questions.
• 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 relevant stakeholders to respond to regulatory questions

Key Stakeholders

• Global Head, Business Financial Crime Risk and AML Oversight
• Heads of CFCC CPBB & Products
• Regional Heads of FCC
• Head of Sanctions, CPBB & Products
• Global Head, Sanctions
• Global Head, ABC
• Head, FCC Screening
• Head, FCC Controls
• Senior TB Business Management
• TB COO teams
• Group Risk
• Group Operational Risk
• Group Internal Audit
• PGC representatives
• Regional Heads of Compliance, CCIB
• Prudential Regulation Authority, Financial Conduct Authority and other key regulators of the Group

Other Responsibilities

• Embed Here for good and Group’s brand and values in CPBB CFCC Advisory Team
• Perform other responsibilities assigned under Group, Country, Business or Functional policies and standards.

Apply now to join the Bank for those with big career ambitions. To view information on our benefits including our flexible working please visit our career pages. We welcome conversations on flexible working.