• Negotiable
  • Hong Kong
  • Permanent, Full time
  • Standard Chartered Bank Hong Kong
  • 31 Oct 17

Director, Compliance, WMPS, HK

  • Location: Hong Kong
  • Salary: Negotiable
  • Job Type: Full time

Please view Job Description for details.

Standard Chartered is a leading international bank operating in some of the most dynamic markets in the world, in Asia, Africa and the Middle East. Our successful and sustainable business is built on doing tangible, long term good for our people, our customers and the communities we serve.

Job Description

  • Help the Group meet its commitment of being "Here for Good" by building a sustainable compliance framework that places regulatory and compliance best practice standards, and a culture of appropriate conduct at the forefront of the Group's agenda.
  • As an independent second line risk control function, execute the relevant aspects of the Compliance framework 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 business.
  • Support the Head, Compliance, Wealth Markets Products and Sales (WMPS) to challenge the Group's businesses and functions to exhibit appropriate conduct, comply with regulatory and compliance requirements and strive to achieve fair outcome for the Group's clients.
  • Evaluate the effectiveness of the Group's compliance efforts.
  • Support the Head, Compliance, WMPS to manage the regulatory relationships with each of the regulators, whose rules the Group is subject to.
  • Support the Head, Compliance, WMPS to maintain constructive and effective relationships with Business Heads/Business Chief Operating Officers (COOs) and/or their teams, and assist relevant Compliance Heads to interface with and support all key business stakeholders.
  • Insofar as they relate to regulatory compliance, be 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, Compliance, WMPS.
  • Maintain independence, deliver timely responses, and timely escalation of risks and issues where they feel risk management tolerance of the firm are exceeded.


Key Roles and Responsibilities

Strategy
  • Support and implement the vision, strategy, direction and leadership for WMPS Compliance team, consistent with Head, Compliance, WMPS' vision and strategy for the Compliance function and in support of the Bank's strategic direction and growth aspirations.
  • Assist the Head, Compliance, WMPS to promote the culture and practice of compliance with compliance 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.
Business
  • 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 regulatory compliance advice and guidance to enable the business and functions to meet/ achieve their strategic tactical objectives.
  • Provide regulatory advice, analysis (and challenge when appropriate) in relation to the full product life cycle including product design and documentation through to post sale reviews/ assessments, new business initiatives, bespoke projects, remedial activities (including nature, scale and rigour of past business reviews), transitional investigations.
  • Support the Head, Compliance, WMPS to 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 to provide timely regulatory compliance advice to ensure compliance with all relevant laws and regulations and support the transition to pro-active and pre-emptive compliance and conduct risk mitigation to the WMPS business in the GCNA Region
  • Regular and diarised catch ups with all key business stakeholders.
  • Attend regular business meetings in order to understand the business focus and concern areas, as well as future developments and new product proposals.
  • To be co-located with the WMPS desk in Hong Kong on the trading floor and have active interaction with the relevant regional/country Head of WMPS and the WMPS desk on a daily basis.
Processes
  • Support the Head, Compliance, WMPS to establish and maintain effective processes (including training, advice and support) to ensure that policies, procedures and standards to address compliance risks (excluding financial crime) are effectively implemented and adhered to across WMPS.
  • Support the Head, Compliance, WMPS to provide support and challenge to the Bank's senior management to ensure that they establish and monitor appropriate processes for compliance with compliance policies, procedures and standards (including meeting regulatory obligations and maintaining high standards of conduct).
  • Reviewing client facing transaction documents for the various products offered through WMPS from a local regulatory and financial promotions perspective. Drafting product feature and risk disclosure documents such as "know your investment risk documents" and wrappers for transaction terms. The documents are prepared either as templates that the business can use for similar products or as bespoke transaction-specific documents.
People and Talent
  • Lead through example and build the appropriate culture and values and work in collaboration with risk and control partners.
  • Support the Head, Compliance, WMPS to ensure teams are adequately resourced and capacitised.
Risk Management
  • In collaboration with relevant senior managers, support a programme for compliance monitoring, surveillance and assurance for WMPS.
  • Assist the Head, Compliance, WMPS to ensure effective management of compliance matters, and in collaboration with the rest of the Compliance team, effectively manage regulatory issues that have a significant impact on the Bank.
  • Collaborate with the other Products Compliance teams and the Compliance Management Group 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.
  • In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management in the Bank 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 Shared Investigative Services (SIS) in relation to investigations concerning WMPS.
  • Support the Head, Compliance, WMPS to provide reports to relevant Group and Business risk and control committees and management group on key compliance risks and issues.
  • Maintain adequate management MI / trackers across all aspects of their coverage and responsibility to ensure all issues and matters are tracked, followed, regularly assessed and reported on.
  • Support the Head, Compliance, WMPS to perform Compliance Risk Assessments for WMPS, including development of mitigating action plans.
Governance
  • Within the Group's overall Risk Management Framework, support the Head, Compliance, WMPS to establish and maintain appropriate risk based compliance frameworks for identifying, assessing, managing, monitoring, mitigating and reporting compliance (including regulatory) risks across WMPS.
  • Support the Head, Compliance, WMPS to develop and recommend (for approval by the relevant Risk Committee), appropriate compliance policies and procedures.
  • Support the Head, Compliance, WMPS to ensure appropriate product governance measures are in place so that product approval documents reflect all relevant regulatory requirements.
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 Head, Compliance, WMPS to effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.


Qualifications and Skills

  • 8 to 10 years of experience in Compliance supporting Wealth Management.
  • Strong technical knowledge of Wealth Management products and high level understanding of various laws and regulations applicable to the businesses.
  • Knowledge in risk identification, risk assessment, controls development, training, monitoring and reporting.
  • Ability to analyse relevant laws and regulations and co-relate regulatory issues to products and business models.
  • Ability to identify and articulate compliance issues.
  • Ability to lead discussions around complex problems with relevant stakeholders.
  • Ability to drive the compliance agenda with senior business leaders.


How To Apply

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Third Party Applications

Please note: Applications from third parties are not accepted unless by invitation.

Diversity and Inclusion

Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.

Equal Opportunity Employer

Standard Chartered is an equal opportunity employer. We have a meritocratic culture where each individual employee is valued and respected for who they are as a person and for what they bring to the organisation.