• Negotiable
  • Singapore
  • Permanent, Full time
  • Standard Chartered Bank Singapore
  • 07 Nov 17

Associate Director, Compliance, Private Banking

  • Location: Singapore
  • Salary: Negotiable
  • Job Type: Full time

Please view Job Description for details.

Reports Directly to: Global Head, Compliance, Private Banking

* 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.
* Proactively support and challenge the Group's businesses and functions to exhibit appropriate conduct, comply with regulatory and compliance requirements and strive to achieve fair outcomes for the Group's clients.
* Evaluate the effectiveness of the Group's compliance efforts and improve the effectiveness where required.
* Support the management of the regulatory relationships with each of the regulators, whose rules the Group is subject to.
* Overall leadership and functional support for all members of the Private Banking Compliance teams.
* Maintain constructive and effective relationships with Business Heads/Business Chief Operating Officers ("COOs"), 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 Global Head, Compliance, Private Banking.
* 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

* Support the development of the global Private Banking Compliance team. Support the implementation of the vision, strategy, direction, and leadership for Private Banking Compliance teams, consistent with Global Head, Compliance, Business & Functions Advisory, ("Global Head") vision and strategy for the Compliance function and in support of the Bank's strategic direction and growth aspirations.
* 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.

* Support and assist the Global Head, Compliance, Private Banking to:
- interpret and implement Group Central Compliance projects for Private Banking application, and guide any roll-out necessary in the various Private Banking centres;
- develop and report, accordingly, Compliance analysis for the purposes of informing the Process Governance Committee, Management Committee, Private Banking Risk Committee, etc., on general compliance and Conduct-related trends or issues; and
- draft analytical papers and commentary on issues pertaining to the continued compliance of the Private Bank, covering any relevant area of Compliance concern, which contributes to the development and implementation of appropriate mitigation control measures.
* Support identified business development, bespoke product and service offerings, and the creation and maintenance of governance frameworks, to suit the changing business needs relative to the regulatory climate.
* 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 through to post sale reviews/ assessments, new business initiatives, bespoke projects, remedial activities (including nature, scale and rigour of past business reviews), transitional investigations.
* 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.

* 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 Private Banking.
* 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).

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.
* Ensure the provision of ongoing training and development of people, and ensure that holders of all critical functions are competent, suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
* Support the initiative to select, employ, engage and retain high quality people, with succession planning for critical roles.
* Responsibility to support the Global Head, Compliance, Private Banking in review of team structure/capacity plans.
* Support the Global Head, Compliance, Private Banking, in the setting and monitoring of job descriptions and objectives for direct reports and provide feedback in line with their performance against those responsibilities and objectives.

Risk Management
* Support the Global Head, Compliance, Private Banking as Risk Owner under the Group's Risk Management Framework for Private Banking processes where Compliance is the second line Risk Owner.
* In collaboration with relevant senior managers, support a programme for compliance monitoring, surveillance and assurance for Private Banking.
* 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 Team 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, support the process to ensure senior management in the Bank and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased. Support the 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 the Private Banking business.
* Support the provision of reports to relevant Group and Business risk and control committees and management group on key compliance risks and issues.

* Within the Group's overall Risk Management Framework, establish and maintain appropriate risk based compliance frameworks for identifying, assessing, managing, monitoring, mitigating and reporting compliance (including regulatory and financial crime) risks across Private Banking.
* Develop and recommend (for approval by the relevant Risk Committee), appropriate compliance policies and procedures.
* Support processes to ensure appropriate product governance measures are in place so that product approval documents reflect all relevant regulatory requirements.
* Establish governance frameworks to support new business initiatives, which may include both lending and investment offerings.

Qualifications and Skills

* Minimum 5 years of experience, at least part of which includes offshore/private banking business.
* Sound knowledge of Compliance matters. Experience in Private/Investment/Consumer Bank Compliance, knowledge of investment products, advisory related regulations, fiduciary services, anti-money laundering practices and policies.
* Good working knowledge of banking and securities products in private banking business.
* General awareness of global laws and regulations with developed areas of expertise.
* Appreciation of applicable laws and regulations, particularly in relation to consumer investment and lending.
* Experience in management, analysis and presentation of management information.
* Exercises good judgment, independence and resilience.
* Ability to work independently with minimal supervision and to complete tasks in a timely manner.
* Self-driven, with an inquisitive approach to practices, procedures and specific transactions.
* Strong analytical and communication skills.
* Exercises personal authority and integrity, with proven ability to establish relationships and provide strong direction at senior levels of the Private Banking business and with other external stakeholders.
* Professional Qualifications in relation to Banking and Compliance will be an advantage.

How To Apply

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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.