Head of CFCC, Wealth Management UK
About Standard Chartered We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.
To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and never settle - as well as our brand promise, Here for good.
We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.
The Role Responsibilities Strategy
- Support, by helping to implement the vision, strategy, direction and leadership for the UK WM & PvB Conduct, Financial Crime Compliance Advisory (CFCCA) team, consistent with the Global Heads of CFCCA and WM, PvB ("Global Head") and Europe Head CFCC vision and strategy for the CFCCA 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.
- Help the Bank 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 Bank's agenda.
Business
- Proactively support and challenge the WMPS & WM business to exhibit appropriate conduct, comply with regulatory and compliance requirements and strive to achieve fair outcome for clients.
- As an independent second line risk control function, execute the relevant aspects of the CFCCA 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
- Promote a culture of compliance and collaboration amongst business stakeholders and with the team.
- Further the culture of compliance and collaboration amongst the CFCCA function and WMPS & WM business in Europe.
- 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.
- 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), investigations.
- Work closely with the business to provide timely regulatory compliance advice to ensure compliance with all existing & new laws and regulations and support the transition to pro-active and pre-emptive compliance and conduct risk mitigation to the WMPS & WM business in Europe.
- Review client facing transaction documents against the FCA financial promotions rules. Drafting product feature and risk disclosure documents such as "know your investment risk documents" and wrappers for transaction terms.
Processes
- Develop and recommend (for approval by the relevant Risk owners), appropriate country addenda to compliance policies and procedures.
- 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).
- Ensure all processes, procedures and controls required to meet role responsibilities are clearly documented and agreed.
- Within the Bank's overall Risk Management Framework, establish and maintain appropriate risk-based compliance frameworks for identifying, assessing, managing, monitoring, mitigating and reporting compliance (including regulatory) risks across the Wealth Management business in Europe
- Ensure appropriate product governance measures are in place so that product approval documents reflect all relevant regulatory requirements.
People and Talent
- Share knowledge and expertise amongst the PvB & WM Compliance team particularly on areas of responsibility.
Risk Management
- Act as local Risk Owner in UK under the Group's Risk Management Framework for the Wealth Management processes where Compliance is the second line Risk Owner.
- 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 UK Head PvB & Wealth Management CFCCA and Global Head CFCCA, Wealth Management.
- 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
- Ensure effective management of compliance matters, and in collaboration with the wider CFCC teams, effectively manage regulatory issues that have a significant impact on the Bank.
- Collaborate with the other Products CFCC teams and the CFCC 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.
Governance
- Provide reports to relevant Group and Business risk and control committees 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.
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 UK CFCCA, Wealth Management function to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients: Effective Financial Markets: Financial Crime Compliance; The Right Environment.
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
- Support the management of regulatory relationships with the FCA, whose rules UK Wealth Management are subject to.
Other Responsibilities
- Manage workload in a self-sufficient manner, pro-actively identifying capacity issues, escalating risks and issues as appropriate, taking responsibility and accountability for own tasks.
Our Ideal Candidate - Substantial experience in managing Wealth Management/Private Banking compliance risks gained in the banking industry.
- Some experience of providing Compliance advice on Wealth Management/Private banking solutions offered to clients who are UK resident non domicile (not tax advice).
- Sound judgment on the applicability of the UK rules as they apply to Wealth Management/Private Bank, regulatory relationship management, and reputational risk.
- Strong influencing and conflict resolution skills.
- Proven ability to convey complex concepts in a clear and concise manner, to potentially diverse audiences.
- Ability to consistently demonstrate decisiveness and sound judgment understanding of operational risk frameworks and systems.
- A good understanding of SCB's organisational structure and internal policies and procedures.
- A good understanding of the products and services provided by SCB within Europe.
- Good business acumen, excellent interpersonal skills, and multi-cultural awareness and sensitivity.
- The ability to establish relationships and engage others within SCB.
- Sharp business acumen (including the ability to assess risk and appropriate levels of return), excellent interpersonal skills and multi-cultural awareness and sensitivity.
- Ability to collaborate and work dynamically across country, region, business and group stakeholders and the Compliance Function.
- Understanding of risk management techniques and frameworks.
- Exemplary integrity, ethics, independence and resilience.
Apply now to join the Bank for those with big career ambitions.
To view information on our benefits including our flexible working please visit our career pages . We welcome conversations on flexible working.
