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

Head, FCC, Business Advisory, CDD

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

Please view Job Description for details.

Be accountable for implementing and maintaining the FCC management framework in the country business segments together with the country FCC Segments & Products team

Key Roles and Responsibilities

Strategy
* Input to Country Business operating model design of relevant FCC and business processes.
* Ensure that there is adequate support (people, processes, tools, frameworks, systems) in the Country for necessary FCC controls.
* Set and implement the vision, strategy, direction and leadership for the Country, consistent with the vision and strategy for FCC and in support of the Group's strategic direction and growth aspirations.

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.
* Support resolution of competing requirements between regulations, for example between AML regulations and data privacy/bank secrecy or information security regulations.

Processes
* Develop, keep up to date and recommend for approval by the relevant Risk Committee, appropriate policies/processes/DOIs to address financial crime risks, aligning with relevant regulatory requirements.
* Provide governance and oversight over the implementation of FCC-related policies and procedures in Country to ensure compliance with such policies and procedures.
* Act as Process Owner for FCC-owned (sub-) processes under the Group's Risk Management Framework, including implementation and roll-out of relevant processes and DOIs.
* Provide advice to relevant stakeholders on compliance with Group standards relating to AML/Sanctions.
* Act as (second line) Risk Control Owner under the Group's Risk Management Framework for those aspects of Regulatory Compliance relating to AML/Sanctions, and escalate issues as appropriate.

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.
* Collaborate with training teams to input to training curriculum to support closing of capability gaps.
* Ensure Singapore FCC is adequately resourced and staffed by an appropriate number of competent staff sufficiently independent to perform duties objectively, to support sustainable business growth and address financial crime risks.
* Ensure staff in Singapore FCC have clearly articulated and well understood roles and responsibilities through meaningful and accurate job descriptions.

Risk Management
* Maintain oversight of risk mitigating action plans.
* Understand technical aspects of systems relevant to CDD, Client Risk Assessments, Name and Transaction Screening, AML Monitoring and Case Management [EDIT IF REQUIRED].
* Review and assess existing system and controls relevant to FCC to ascertain operational performance and effectiveness.
* Align/support with the alignment of relevant systems and controls to industry best practice and close out any compliance gaps.
* Apply Group and FCC policies and processes (AML 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.
* 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.
* Identify intelligence for typology studies and risk mitigation plans.
* Conduct Country risk assessment.
* Map risks, quantify the potential impact and escalate where necessary.
* Partner with legal counsels for advice on technical matters.
* 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).
* Oversee the review and analysis of the client base to identify and manage high risk clients, or specific country reviews.
* Undertake enhanced due diligence on new and existing higher risk /sensitive clients such as PEPs or those associated with high risk industries or countries.
* Provide subject matter expertise on PEP / Sensitive Clients.
* Manage escalations on PEP / Sensitive Client issues requiring additional assessment and controls.

Governance
* Attend relevant leadership meetings.
* Provide senior oversight of FCC in country.
* Ensure tracking and remediation of surveillance and investigations related regulatory findings.
* In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased.
* Prepare and cascade lessons learned from audit findings, FCC assurance activities and specific investigations.
* Provide leadership to the FCC network as part of the Group senior FCC management team.
* Collate, analyse and interpret data in reports to senior management and relevant governance/risk committees.
* 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.

Project/Change Management
* Lead or influence significant programmes of work in support of the financial crime compliance objectives.
* Review new business requirements and provide solutions where required.

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.
* Lead the Singapore FCC Business Advisory team 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.

Key Stakeholders
* Country CEO
* Country Compliance
* Country Head of Business (Retail, CB, PVB, CIB)
* Country Audit
* Country Legal
* Country Business Operational Risk
* Country Business Operations
* Regulators
* Local Financial Intelligence Unit and law enforcement agencies.
* Peers in other banks/ industry

Other Responsibilities
* Embed Here for good and Group's brand and values in Singapore.
* Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Qualifications and Skills

Degree qualified

LEADERSHIP COMPETENCIES
Take the Lead
Deliver Sustainably
TECHNICAL COMPETENCIES
Compliance Policies and Standards
Compliance Advisory
Manage Change