Specialist, FCC, Financial Markets and Corporate and Institutional Banking (ASEAN and South Asia)
- Permanent, Full time
- Standard Chartered Bank
- 21 Sep 16
Please view Job Description for details.
The Financial Crime Compliance Specialist provides leadership in fighting financial crime in the Financial Markets Businesses by leading, establishing, overseeing, managing, and supporting the Financial Crime Compliance program and all of the elements within Standard Chartered Bank's Financial Crime Risk Management Framework (i.e. Governance, Client Due Diligence / Enhanced Due Diligence, Policies & Procedures, Risk Assessments, Surveillance (monitoring & screening), Management Information & Reporting, People, Monitoring & Assurance, Investigations, Training & Awareness).
The Financial Crime Compliance Specialist also ensures that the Business operates in accordance with all legal and regulatory requirements as well as Group standards relating to Anti Money Laundering, sanctions and Anti Bribery Corruption, by providing advice and oversight of segment and product groups within Corporate and Institutional Banking for the ASEAN and South Asia region. He / She has is responsible to assist the Country and Group Products teams to further strengthen policy and procedure implementation of various products in the ASEAN and South Asia Region through pro-active engagement at all levels in the Group/Regional and Country Product Teams and act as trusted advisor to management.
Key Roles and Responsibilities
- 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 Financial Crime Compliance.
- Support the Head of Financial Crime Compliance for Financial Markets and Corporate and Institutional Banking-ASEAN and South Asia Business Advisory and Risk Management to promote, lead and manage, throughout the Business, the culture and practice of Financial Crime Compliance risk management within the letter and spirit of the relevant laws and regulations in the United Kingdom and ASEAN and South Asia countries. This also includes local Laws and Regulations and all Group standards relating to Anti Money Laundering, Sanctions and Anti Bribery Corruption
- Demonstrate leadership and oversight over Financial Crime Compliance Risks, and ensure that Anti Money Laundering / Countering the Financing of Terrorism (CFT) / Sanctions / Anti Bribery Corruption risks are proactively managed and executed within the Segments and Products in line with the Group's global financial crime compliance framework
- Ensure effective communication and escalation within the Bank, and effective implementation of the FCC Program (not limited to policies and procedures) to ensure alignment with regulatory requirements and policies
- Ensure through engagement with relevant Business Management that there is adequate advisory support provided to the business and countries for necessary Financial Crime Compliance controls, including people, process, tools, frameworks and systems
- Prepare and manage related Financial Crime Compliance policies, advice, guidance, and metrics / reports as required
- Providing governance and oversight over the implementation of Financial Crime Compliance-related policies and procedures globally for Financial Markets and regionally for Corporate and Institutional Banking within ASEAN and South Asia countries to ensure compliance with such policies and procedures.
- Provide advice to relevant stakeholders on compliance with Group standards relating to Anti Money Laundering / Sanctions / Anti Bribery Corruption.
- Act as second line Risk Control Owner under the Group's Risk Management Framework for those aspects of Regulatory Compliance relating to Anti Money Laundering / Sanctions / Anti Bribery Corruption, and escalate issues as appropriate.
- Ongoing development of expertise in Financial Crime Compliance, Financial Markets, Corporate and Institutional Banking segment/product pertaining to countries within the ASEAN and South Asia footprint, and understanding of related Standard Chartered Bank infrastructure
- Understand technical aspects of systems relevant to Client Due Diligence, Client Risk Assessments, Name and Transaction Screening, Anti Money Laundering Monitoring and Case Management as required.
- Provide Financial Crime Compliance advice on the application of risk management frameworks (e.g. Operation Risk Framework, GRA).
- Apply Group and Financial Crime Compliance policies and processes (e.g. Anti Money Laundering 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.
- Advise relevant stakeholders on outcomes of Anti Money Laundering / Sanctions / Anti Bribery Corruption risks identification and assessment methodologies.
- Provide intelligence (to internal forums) on specific clients, client-types and emerging risk typologies.
- Provide intelligence inputs to support calibration of bank's Risk Methodologies (including aggregate client risk, product risk and country risk assessments where required.
- Oversee the review and analysis of the client base to identify and manage high risk clients, or specific country reviews.
- Collate, analyse and interpret data in reports to senior management and relevant governance/risk committees.
- Design and maintain dashboards and metrics that allow Financial Crime Compliance to dynamically monitor financial crime risk and operational performance for key Financial Crime Compliance processes.
- Analyse and interpret data to produce reports that help the bank identify and manage emerging areas of risk / vulnerability and thus drive remediation action within the Financial Crime Compliance function.
- Recommend, support, and drive improvement and enhancement Financial Crime Compliance-related initiatives relevant to Financial Markets and for Corporate and Institutional Banking-ASEAN and South Asia.
- 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 Global Financial Markets business and Corporate and Institutional Banking businesses in ASEAN and South Asia Countries 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.
Financial Crime Compliance - Global Financial Markets:
- Group Financial Crime Compliance teams
- Group Heads of Products
- Group Product COOs
- Group Products Compliance
- Group Legal - Products
- Regional / Country Legal, Compliance, and Financial Crime Compliance
- Group Information and Technology Operation
- Peers in other banks
- Senior Financial Crime Compliance Management in Region
- Senior Legal & Compliance Management in Region
- Global Financial Crime Compliance Products Head,
- Financial Crime Compliance Heads in Country
- Regional and Country Product Heads
- Operational Risk peers
- Financial Crime Intelligence Operations team
- Embed Here for good and Group's brand and values in Financial Markets and Corporate and Institutional Banking-ASEAN and South Asia
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
- Contribute to global network / infrastructure improvement initiatives to promote efficiency in establishing effective Financial Crime Compliance controls for the Financial Markets business and Corporate and Institutional Banking in ASEAN and South Asia Countries, while adhering to applicable regulatory requirements.
- Support engagement with Financial Markets Business Management and Corporate and Institutional Banking-ASEAN and South Asia business management to ensure that there is adequate business support for necessary Financial Crime Compliance controls, including people, process, tools, frameworks and systems.
Qualifications and Skills
QUALIFICATIONS - training, licenses, memberships and certifications
The incumbent will ideally require a combination of Financial Crime Compliance experience, specialized Financial Market-sub-product business expertise in one or more sub-products (i.e. FX, Fixed Income, Capital Markets, Commodities, Derivatives, Asset Liability Management), and/or also experience with other Corporate and Institutional Banking ("CIB") products (Correspondent Banking, Trade Finance, Securities Services, Corporate Finance, etc...). The goal is to have a diverse team within FCC-Financial Markets & Corporate and Institutional Banking - ASEAN and South Asia who have a unique combination of expertise and experience within Financial Crime Compliance, Corporate and Institutional Banking and its related products.
The incumbent will ideally possess the following specific experiences:
- Strong experience in an international banking environment
- In-depth knowledge and experience of developing financial crime controls in an international banking environment, preferably combined with direct support of Financial Markets or other Corporate and Institutional Banking business areas:
- Demonstrated knowledge of Wholesale Banking and/or Financial Markets products and/or In-depth years of experience within Financial Markets products within a global bank.
- People and process management skills, ability to foster positive relationships with internal and external stakeholders at appropriate level ensuring open collaborative environment.
- Ability to deliver outcomes efficiently despite complexity and ambiguity
- Demonstrated relationship building skills - both internal and external across multiple jurisdictions
- High level of integrity and professionalism
- Strong planning and organizational skills
- Strong written and verbal communication skills
- High attention to detail
Take the Lead
Target Proficiency Level:
Compliance Policies and Standards
Compliance Review and FCC Assurance
Surveillance (including Screening and Monitoring)
Compliance Risk Assessment