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.
Evaluate the effectiveness of the Group's compliance efforts.
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 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 Head, Compliance, Commercial & Global Banking Compliance.
Maintain independence, deliver timely responses, and timely escalation of risks and issues where they feel risk management tolerance of the firm are exceeded.
Key Roles and Responsibilities
Work closely with Legal, FCC, Credit Risk, Operational Risk, Control Room, and other core partners in setting and implement the vision, strategy, direction and leadership for CB & GB Compliance teams, consistent with Global Head, Compliance, CIB & CB, Products & Segments ("Global Head") vision and strategy for the Compliance function and in support of the Bank's strategic direction and growth aspirations.
Provide consistent support to colleagues with responsibilities to CB & GB, including highlighting key areas of pan-geographical focus. Drive an increased awareness of CB & GB technical and strategic knowledge in regions and countries to sharpen focus on how local regulatory reform impacts the client segments. Emphasise global standards.
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.
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 regulatory advice, analysis (and challenge when appropriate) in relation to the CB & GB 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.
Support the Client Delivery Centres of Excellence (COBAM, Credit Analysts, Client Managers), from a Compliance perspective by providing advice and coordinating any necessary country / regional Compliance engagement.
Play a core role with FCC and relevant Business senior management in the assessment of risk related to CB & GB, including Compliance ownership of any required onward distribution of decision-making and action plans.
Partner with FCC to ensure that financial crime impact on the client segment is implemented and global standards are maintained. This includes taking flexible approaches to client onboarding where Group standards are met and a risk based approach permits.
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.
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.
Apply a consistent Compliance framework to CB & GB clients whether they are managed in the client businesses, or during the times when the relationship may be managed by Group Special Account Management (GSAM).
Understand the function; processes and identify areas of interest and potential risk governed by CB & GB, especially on-boarding, credit and portfolio management and to the extent coverage under Group Special Account Management (GSAM).
Provide compliance support on regulatory on-boarding for CB & GB by reviewing of the current requirements, procedures, processes and controls for existing and new regulations.
Be aware of how regulatory change projects impact on CB & GB.
Establish compliance coverage to CB & GB Clients Compliance teams in regions and countries to assist them to understand the objectives/deliverables; and actively engage business in their respective regions and countries.
Support the Practice Group, and promote adherence to the stakeholder map, ensuring efficient alignment of business and function.
Upgrade CB & GB appreciation of Compliance Risks and Controls by establishing framework for Annual and New Joiner Training.
Establish 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 CB & GB via consultation with stakeholders in procedure design, ratification by appropriate committees, and appropriate communication and training across the network.
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).
Act as Risk Owner under the Group's Risk Management Framework for CB & GB processes where Compliance is the second line Risk Owner.
In collaboration with relevant senior managers, support a programme for compliance monitoring, surveillance and assurance for CB & GB. Play a supervisory role in the development and execution of CB & GB related CMRs.
Ensure effective management of compliance matters, and in collaboration with the rest of the Compliance team, effectively manage regulatory issues that have a significant impact on the Bank.
Collaborate with the other Products Compliance teams and the Compliance 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. Ensure proactive and timely identification, assessment, advice and dissemination of evolving regulatory changes/practices and associated risks, and proactive engagement in regulatory reform. Assist and work closely with Shared Investigative Services (SIS) in relation to investigations concerning the CB & GB business.
Provide reports to relevant Group and Business risk and control committees and management group on key compliance risks and issues.
Within the Group's overall Risk Management Framework, establish and maintain appropriate risk based compliance frameworks for identifying, assessing, managing, monitoring, mitigating and reporting compliance (including regulatory and financial crime) risks across CB & GB.
Develop and recommend (for approval by the relevant Risk Committee), appropriate compliance policies and procedures.
Ensure appropriate product governance measures are in place so that product approval documents reflect all relevant regulatory requirements.
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 CIB & CB Compliance teams to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Effective Operation of Financial Markets, Financial Crime Prevention; Creating the Right Environment.
Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Embed "Here for Good" and the Group's brand and values in the CB & GB Compliance Team.
Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.