The Regulatory Compliance team is responsible for the independent, second line, oversight of core processes and related policies and procedures that seek to ensure that Standard Chartered Bank complies with applicable rules and regulations. The purpose of this role is to own and oversee implementation and compliance with a new global Client Asset Protection policy. It is likely that the role will evolve over time to take on additional responsibility for broader operational compliance matters.
Note that whilst in other jurisdictions the regulatory compliance team provides a one stop service for all aspects of the local regulations and regulators. In the UK, and as the UK regulators are the Bank’s lead regulators, the team does not have responsibility for managing the Bank’s relationship with the PRA or FCA. The team also does not have responsibility for advising support functions or providing advice on financial crime matters. Neither does it have direct responsibility for Compliance Monitoring.
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• Actively consider the inherent, material risks of the Bank. Analyse the risk profile and seek confirmation that risks are being appropriately identified, assessed and mitigated to within a tolerance agreed with the CASS Governance Forum.
• Ensure there are robust risk and control frameworks which meet the regulatory needs of the Bank, including communication, training and awareness.
• Provide expert support and advice to the business on risk management. This includes interpreting and complying with the CASS rules and the Bank’s Risk Management and Governance Frameworks.
• Provide relevant information and escalate concerns where appropriate within the Compliance Function as well as within the Operations Function or originating area.
• Provide specialist compliance advice to the Accountable Executive (likely to be Global COO for Operations – Singapore based) and the Program Sponsor (likely to be the Global Head of Compliance – London based) and to support program working groups to enable them to build new critical processes, controls and frameworks in order to comply with the new global policy. This will include driving the decision making process for adequately addressing risks associated with implementation and compliance, and ensuring appropriate collaboration with the relevant business stakeholders, Leadership Teams, Risk Committees, support and infrastructure teams in managing such risks.
• Maintain a constructive and positive relationship with the Bank’s operational teams as well as other compliance personnel. Respond to requests for information and/or assistance from them to ensure that upstream regulatory risks are closely monitored and that appropriate internal and external mitigating actions are undertaken, in order to avoid surprises and regulatory failure.
• Represent Compliance at the relevant Governance Fora enabling those Fora to have clear sight of risks and issues arising within the Bank.
• Work with the UK CASS Compliance and CASS Officer to align and drive the decision making for adequately addressing these risks and issues within the Bank and ensuring appropriate collaboration with the relevant stakeholders, including leadership team, governance fora and infrastructure teams.
• Support the Regulatory Compliance Team in production and maintenance of Regulatory Obligation Registers for CASS, particularly reviewing and assessing control mapping.
• Provide analysis of, and support implementation projects, for delivery of changes to the CASS rules e.g. MiFID 2.
• Provide analysis of industry fines and issues ensuring both briefings as well as action plans are created and delivered.
• Represent the Bank at relevant CASS industry group such as those run by trade bodies such as AFME and BBA.
• Contribute to Regional Compliance reports and other Management Information in agreed format for the Regional Head Compliance on key Compliance risks and issues in the Region.
• Anticipate horizon risks that may have a significant impact on the UK business areas and work with product\ segment Compliance to develop an effective mitigation plan.
Support the Regional Head, Compliance in managing compliance issues, risks, regulatory changes and reform, across the Region.
Team Membership
• Further the culture of compliance and collaboration amongst the team, Country, Segment and Product Compliance.
• Ensure clarity about obligations under the Group Code of Conduct, operate Here for good, and live the Values.
• 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.
• Ensure all processes, procedures and controls required to meet role responsibilities are clearly documented and agreed.
• Share knowledge and expertise amongst the team particularly on areas of responsibility.
• Promote a culture of compliance and collaboration amongst business stakeholders and with the team.
• Embed the Group’s Values and Group Code of Conduct to ensure adherence with the highest standards of ethics. Comply with relevant policies, processes and regulations, as part of the culture. Lead by example by displaying exemplary conduct behaviours and take personal responsibility for:
o your own conduct ensuring behaviours set out in the Group Code of Conduct are followed; and
Europe Regional Compliance achieves the outcomes set out in the Conduct Principles and Pillars.
Qualifications and Skills
• Substantial experience (in excess of 5 years’ relevant practice) in managing CASS compliance risks gained in the banking industry.
• Significant experience of either providing Compliance advice to Operations Functions, or gained by working in Operations.
• 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.
• Sound judgment on the applicability of the CASS rules, regulatory relationship management, and reputational risk.
• 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), strong leadership qualities, excellent interpersonal skills and multi cultural awareness and sensitivity.
• Ability to navigate a geographically dispersed customer and product base.
• 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
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