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

Director, FCC, Client and Product DD Policy

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

Please view Job Description for details.

* Define and maintain key standards to build controls for financial crime risk into client processes, including:
o Group Customer Due Diligence (CDD) procedures and related control standards in relation to Private Banking and Retail Banking
o Segment specific addenda and related control standards
o Refining and fine-tuning the Client Risk Assessment methodology
* Point of escalation within FCC as to the interpretation of Group CDD procedures and related controls
* Establish governance over the process for dispensation from Group and Business CDD procedures
* Ensure that the Group and Business CDD procedures remain up-to-date and in compliance with laws, regulations and industry best practice through the maintenance of an obligation register
* Work with FCC BRA to refine and fine-tune the Client Risk Assessment methodology (as indicated above) and assume ongoing ownership in BAU
* Provide FCC input to the OneBank CDD programme with respect to the Retail and Private Bank businesses.
* Key interface with Group technical experts on Sanctions, Bribery and overall AML to incorporate requirements into CDD standards
* Support the wider Compliance function to embed controls for other compliance risks in client processes

Key Roles and Responsibilities

Business
* Analyse comprehensive impact of financial crime related regulatory matters on the relevants business area and its operations.
* Ensure that key changes (to laws, rules, regulations) are communicated and cascaded (in region/country), in coordination with group communications.
* 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 FCC.
Processes
* Develop, keep up to date and recommend for approval by the relevant approval authority, appropriate CDD control standards to address financial crime risks, aligning with relevant regulatory requirements.
* Document and maintain CDD control standards.
* Provide advice to relevant stakeholders on compliance with Group standards relating to CDD.
People and Talent
* Provide leadership, management and coaching to direct reports to ensure they are highly engaged and performing to their potential.
* 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.
* Ensure staff in Department have clearly articulated and well understood roles and responsibilities through meaningful and accurate job descriptions.
Risk Management
* Support the Bank's risk mitigating action plans by collaborating with the Bank's FCC technical, controls and subject matter experts to ensure existing systems, processes, risk assessments and practices on clients - from on-boarding, risk rating, screening and on-going monitoring to prohibitions, hard-holds and off-boarding - are aligned with industry best practices and standards and close out any compliance gaps.
* Anticipate horizon risks in the area of financial crime that may have a significant impact on the Group and develop effective strategies to mitigate such horizon risks
* Advise relevant stakeholders on outcomes of AML/Sanctions/ABC risks identification and assessment methodologies.
Governance
* Attend relevant leadership meetings where deputized.
* Support and provide oversight of FCC region/country/function in collaboration with the respective FCC Client Segment.
* In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure such instances are promptly escalated and that actions are taken quickly to remediate and/or activities are ceased.
* Translate lessons learned from audit findings, FCC assurance activities and specific investigations into CDD Standards.
* Propose control improvements, enhancements and simplifications where appropriate.
* Be accountable for identification and escalation of potential risks and issues to senior management through appropriate governance channels and the Quality Assurance framework.
* Define metrics and/or key risk indicators (KRI) especially for AML and Sanctions in relation to CDD.
* 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 FCC function.
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.
* Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
* Support relevant stakeholders to respond to regulatory questions.
Key Stakeholders
* FCC, Retail
* FCC, Private Banking
* FCC, Policy and Reporting
* FCC, Sanctions
* FCC, Anti-Bribery and Corruption
* FCC, FCSU
* FCC, PEP and Sensitive Client Unit
* FCC, Assurance
* CDD Process Owners
* OR, Framework, Process & Infrastructure
* Audit, FCC Advisory
* Audit, L&C and FCC
* Core College Regulator
* Peers in other banks
Other Responsibilities
* Embed Here for good and Group's brand and values in all Group businesses,
* Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Qualifications and Skills

* ACAMS

* IBFQ

* ICA Diploma in Compliance (Specialist) Consumer Banking

LEADERSHIP COMPETENCIES
Solve Problems
Communicate
TECHNICAL COMPETENCIES
Compliance Policies and Standards
Compliance Advisory
Manage Projects