• Negotiable
  • Singapore
  • Permanent, Full time
  • Standard Chartered Bank Singapore
  • 02 Oct 17

Associate Director, Compliance, Product & Cross Border Governance

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

Please view Job Description for details.

Thisr role is responsible for co-ordination of in country product approval process pursuant to the Product Governance Policy and Procedures.

Key Roles and Responsibilities

  • 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 outcome for the Group's clients.
  • Support the management of the regulatory relationships with each of the regulators, whose rules the Group is subject to.
  • Maintain constructive and effective relationships with local and regional 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, Product & Cross Border Governance.

  • Maintain independence, deliver timely responses, and timely escalation of risks and issues where they feel risk management tolerance of the firm are exceeded.


Strategy
  • Support and implement the vision, strategy, direction and leadership for Product & Cross Border Governance teams, consistent with Global Head, Compliance Product & Cross Border Governance ("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 the development and maintenance of cross border marketing framework to facilitate cross border business (relevant, in particular, to Private Bank, Wealth Management, Transaction Banking and Financial Markets), and assists in managing the legal, tax and regulatory risks emanating from such cross border activity.
  • Coordinate and deliver compliance advice to the Group's regional, country business and governance teams to support the product governance process (with an emphasis on legal and compliance implications) the Group's global product and business strategy.
  • Assist and oversee the provision of legal, tax and compliance advice relating to the development and implementation of the Group's strategy in non-presence countries and representative office countries.

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 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.

  • Use a deep understanding of the Group's policies and processes, and an awareness and understanding of the wider business, economic and market environment, to support the Group's global product and client strategy.

  • 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.

  • 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.

  • Support the maintenance of cross border marketing framework to facilitate cross border business (relevant to, in particular, Private Bank, Wealth Management, Transaction Banking and Financial Markets), and assist in managing the legal, tax and regulatory risks emanating from such cross border activity. As such, assists in utilization of the Group's foot print while helping to risk manage the risks that emanate from such utilization.

  • Assist in overseeing the Onshore/Offshore framework of the Group.

  • Regular and diarised catch ups with all key business stakeholders.

Processes
  • Help support 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 businesses.
  • 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).
  • For SCB presence countries, oversee the upkeep of detailed guidance on cross border client engagement.

  • For non-presence and representative office countries, provide specific guidance on cross border client engagement.

  • Coordinate the legal, tax and compliance advice and guidance to support the development and implementation of the Group's strategy in non-presence countries and representative office countries.

  • Coordinate the approvals from all relevant risk management functions (i.e. legal, tax, compliance, operations, credit, etc.) for unusual and exceptional transactions.

  • Assist investigations into potential unauthorised and off-strategy transactions.

  • Assist in overseeing the Onshore/Offshore framework of the Group.
  • Assist in enhancing end-to-end controls by being a conduit of escalation, and resolution, of product governance risk matters to the Global Head.
People and Talent
  • Lead through example and help build the appropriate culture and values. Set appropriate tone and expectations from their team and work in collaboration with risk and control partners.


Risk Management
  • Assist in ensuring effective management of compliance matters, and in collaboration with the rest of the Compliance team, effectively manage compliance issues that have a significant impact on the Bank.
  • 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.
  • 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 country and regional level risk control owners of the cross border and product governance processes under the Group's Risk Management Framework.

  • Assist in overseeing the Onshore/Offshore framework of the Group.

Governance
  • Assist in the provision of oversight across product governance and cross border client engagement, ensuring compliance with the highest standards of regulatory and business conduct and compliance practices as defined by internal and external requirements. This includes compliance with local laws and other applicable laws (e.g. laws governing securities activities, company law) and anti-money laundering regulations and guidelines.

  • Possess a well developed awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to cross border client engagement and product governance as they relate to each of the businesses operating in each country. (Please note that Country Addenda documentation and governance will be migrated to 1 st line shortly).

  • Demonstrate ability to deliver 'effective governance'; capability to challenge fellow executives effectively; and willingness to work with any local regulators in an open and cooperative manner.

  • Assist in enhancing end-to-end controls by being a conduit of escalation, and resolution, of product governance risk matters to the Global Head.

  • Conduct training on managing cross border risk across the Group.

  • Assist in overseeing the Onshore/Offshore Framework of the Group.

Regulatory & Business conduct
(This is mandatory standard wording, please tailor wording in brackets, do not remove).
  • 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.

  • Assist the CIB & CB Compliance teams to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Financial Crime Prevention; Creating the Right Environment.

  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders
  • Regional and Country Business Management
  • Regional COO and BPM
  • Risk (Country Addenda Stakeholders)
  • Internal Audit

Other Responsibilities
  • Support the embedding of Here for good and Group's brand and values in the Group's Compliance Teams.
  • Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.


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.