Hong Kong Job Openings

Standard Chartered

Executive Director, CFCC, TB Cash (Hong Kong / Singapore)

Central

October 15, 2024

JOB SUMMARY

Role Briefing:

A key Group Advisory role is based in Hong Kong or Singapore, providing Conduct, Financial Crime Compliance (CFCC) advice and support to Transaction Banking (TB) Cash. The role holder will have responsibility for oversight of the implementation of Compliance, Conduct and FCC policies and procedures for the relevant TB processes to the extent the processes have been identified as owned by the CFCC function, in line with the Group’s process universe as set out in the Group Operational Risk Framework, including activities within the processes owned by the CFCC function which are hubbed or outsourced. Insofar as they relate to TB, Compliance, Financial Crime risks and Conduct, the role holder will be responsible for providing details of developments giving rise to a material risk that serious regulatory breaches or breaches of risk tolerances may occur.

Insofar as they relate to TB Cash, Compliance, Financial Crime risks and Conduct, the role holder will 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 (as appropriate):

the Global Head of CFCC, TB & Africa
the relevant Cash Heads of Business and Operations
His/her responsibility does not encompass the operation of information technology systems used to implement any policies and procedures, which is the responsibility of the Group Chief Information Officer and does not encompass fraud or cyber related matters.

The role holder will be responsible:

To help the Group meet its commitment of being "Here for Good" by building a sustainable framework that places Compliance, Conduct and FCC best practice standards, at the forefront of the Group's agenda.
As an independent second line risk control function, to execute the relevant aspects of the Compliance, Conduct and FCC Principal Risk Type Frameworks (“PRTFs”) 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 TB Cash and Digital Channels, Data Analytics & Platforms, businesses.

For the evalution and assessment of the effectiveness of the Group's Conduct, Financial Crime and Compliance commitments and requirements.
To proactively support and challenge the Group's businesses and supporting functions to exhibit appropriate conduct, comply with regulatory and compliance requirements and strive to achieve fair outcome for the Group's clients.
For maintaining independence, deliveing timely responses, and timely escalation of risks and issues where the management tolerance of the firm is exceeded.
For maintaining constructive and effective stakeholder relationships with the relevant business and supporting functions, and to assist the Global Head of CFCC, TB & Africa, to interface with and support all key stakeholders.
For supporting the management of regulatory relationships with all of the Group’s regulators, whose rules the Group is subject to.

Strategy

Support the Global Head, CFCC, TB & Africa in implementing the vision, strategy, direction and leadership for the respective teams, consistent with the CFCC CIB Advisory vision and strategy for the CFCC 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 within the TB business.
Proactively support and effectively challenge the delivery of the TB business strategy within the bank’s risk appetite and in compliance with the relevant risk type frameworks.
Provide support and coordinate with Cluster and Country CFCC teams that support TB.
Support and challenge the Business in management of non-financial risks, adhering to non-financial risk frameworks and embedding good risk culture and knowledge across the business.

Business

Develop a comprehensive understanding of the business model and strategy in order to provide substantive oversight support and challenge in order to enable appropriate and sustainable CFCC outcomes.

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 conduct, financial crime & compliance-related advice and guidance to enable the business and functions to meet/ achieve their strategic tactical objectives.
Provide advice, analysis (and challenge when appropriate) in relation to the TB products, including product design, new business initiatives, bespoke projects, remedial activities (including nature, scale and rigour of past business reviews), and transactional advice.
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 and its operational teams to provide timely advice to ensure compliance with all relevant laws and regulations and support the transition to pro-active and pre-emptive CFCC risk mitigation.
Support the resolution of competing requirements between regulations specific to TB businesses (i.e., between AML regulations and data privacy/bank secrecy or information security regulations.)

Processes

Act under delegation from the respective Risk Framework Owners for the principal risk types of Compliance, and FCC in discharging the responsibilties contained in the ERMF to the extent that CFCC advisory is the appropriate second line risk ower.
The role holder is not responsible for CFCC first line processes unless specifically delegated by and/or agreed with the group process owner. This includes CFCC processes operated to manage risks in TB such as name screening or transaction monitoring.
The role holder is not responsible to ensure that TB and CFCC process owners agree their respective handoffs, which ought to be documented in a service level agreement. However, consistent with the CFCC advisory second line responsibilites under the ERMF, the role holder is responsible to ensure that in the absence of an agreement or if responsibiilties are poorly executed, the risks inherent in TB are addressed in line with the ERMF.
Develop and maintain effective policies / processes / DOIs (including training, advice and support) to address CFCC risks in TB, aligning with relevant regulatory requirements.
Provide governance and oversight over the implementation of CFCC related policies and procedures relevant to TB (to enable compliance with such policies and procedures).

Risk Management

In accordance with the Group’s Enterprise Risk Management Framework, act as second line Risk Framework Owner for appropriate and relevant TB Cash.
Collaborate with the other Products CFCC teams, CFCC Advisory Management Team and / or the CFCC Management Team 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.
Ensure effective management of TB CFCC Advisory matters, and in collaboration with the rest of the CFCC team, effectively manage regulatory issues that have a significant impact on the Group including but not limited to conflicts of interest, cross –border and onshore/offshore transactional support and control (in partnership with Cross Border (XB) and Conflict of Interest (COI) Compliance teams).
Collaborate with relevant senior managers to support a programme for conduct, financial crime and compliance monitoring, surveillance and/or assurance for TB.
Collaborate with Correspondent Banking FCC Centre of Excellence Team, and where relevant Global Banking (GB) & Commercial Banking (CB) CFCC, to ensure functional alignment and advisory services to the Cash and Trade businesses with respect to Correspondent Banking Conduct, Financial Crime and Compliance risk.
Collaborate with GB & CB CFCC and Correspondent Banking FCC Centre of Excellence Team, to manage the product related risk arising from the New Payment Methodology and Fintech client base.
In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management in the Group 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 the Group Shared Investigation Services team in relation to investigations concerning TB.
Liaise with the internal audit function to ensure that any CFCC weakness identified by the internal audit function relating to TB activities are appropriately followed up.
Provide reports to relevant Group and Business risk and control committees and management group on key conduct, financial crime and compliance risks and issues pertaining to TB Cash and Digital, Data & Platforms.

Maintain adequate management MI / trackers across all aspects of their coverage and responsibility to ensure all issues and matters relating to TB are tracked, followed, regularly assessed and reported on, including oversight of risk acceptance and/or mitigating action plans, identification and management of high risk clients or specific country reviews relating to TB.
Provide advice on the application of risk management frameworks (e.g. ERMF).and provide advice to relevant stakeholders on outcomes of risk identification and assessment methodologies
Maintain oversight of risk acceptance and/or mitigating action plans relating to TB Cash and Digital, Data & Platforms.
Provide intelligence (to internal forums) on specific clients, client-types and emerging risk typologies.
Provide intelligence inputs to support calibration of the Bank’s Risk Methodologies (including aggregate client risk, product risk and country risk assessments).
Provide reports to relevant Group and Business risk and control committees and management group on key compliance risks and issues
Understand technical aspects of systems relevant to TB Cash, end to end, including downstream systems leveraging on cash products data, e.g., FCC transaction surveillance process, Data Analytics.

People & Talent

Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from their team and work in collaboration with risk and control partners.
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.
Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.
Assess competency and skill of the team on an ongoing basis to ensure alignment of skill set to the risk management demands of the TB Cash and relevant Digital Channels, Data Analytics & Platforms business.

Support the provision of ongoing training and development to ensure that team members are competent, suitably skilled and qualified for their roles, ensuring that they have effective supervision in place to mitigate any risks.
Support the Global Head, CFCC Advisory, TB in the team structure/capacity plan to ensure an effective and efficient risk management framework
Support the Global Head, CFCC Advisory, TB, in employing, engaging and retaining high quality people, with succession planning for critical roles
Support the Global Head, CFCC Advisory, TB, in providing feedback at business, function, country and individual level as appropriate, on CFCC matters which should have a bearing on remuneration pools or individual bonuses (for senior staff).
Support the Global Head, CFCC Advisory, TB, in regularly and on a timely basis appraise performance as well as proactively manage attrition when needed.
Drive the migration of skill, knowledge, best practice and lesson learned across the network between CFCC Advisory colleagues especially in relation to legal/regulatory risks and compliance with relevant regulations and internal policies/standards as they pertain to TB.

Governance

Attend relevant leadership meetings, and provide relevant reports to senior management and governance/risk committees.
Be accountable for identification and escalation of potential risks and issues to senior management through appropriate governance channels and the Quality Assurance framework.
Ensure appropriate product governance measures are in place so that product approval documents reflect all relevant regulatory requirements.
Propose control effectiveness and efficiency improvements and simplifications where appropriate.
Ensure the end-to-end life cycle of audit, assurance and regulatory reviews is managed appropriately, including tracking, remediation and preparing lessons learned from such reviews.
Within the Group's Enterprise Risk Management Framework, establish and maintain appropriate risk based CFCC framework for identifying, assessing, managing, monitoring, mitigating, and reporting compliance (including regulatory and financial crime) risks across TB.

Project/Change management

Lead key change programmes and projects for CFCC Advisory, TB.
Maintain workplans specific to CFCC advisory projects/ initiatives, and communicate the same to the Global Head, CFCC Advisory, TB in a regular, timely fashion to inform and seek inputs.
Review new business requirements and provide solutions for TB Cash 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.
Support the Global Head, CFCC TB & Africa to lead the function to achieve the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes for Clients; Financial Crime Prevention; Creating the Right Environment.
Effectively and collaboratively identify, escalate, mitigate and resolve Conduct Risk matters.

Key Stakeholders

Heads of CFCC Segments & Products
Country and Cluster Heads of CFCC Advisory, TB
Head of Sanctions, Segments & Products
Head, FCC Screening
Head, FCC Controls
Senior TB Business Management
TB COO teams

Financial Crime Surveillance & Operations (FCSO)
Group Risk
Group Operational Risk
Group Internal Audit
Prudential Regulation Authority, Financial Conduct Authority and other key regulators of the Group

Other Responsibilities

Embed Here for good and Group’s brand and values in CFCC TB Advisory team. Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures; Multiple functions (double hats)

Our Ideal Candidate

15+ years of experience in a regulated financial institution or equivalent such as fintech.
Experience in compliance and / or risk management.
Good knowledge and understanding of Data Conduct related risks.
Good knowledge / interest in Distribution Ledger Technology, API, Artificial Intelligence, and their associated regulations and guidelines and industry payment practice.
Sharp business acumen (including ability to assess risk and appropriate levels of return), strong leadership qualities, excellent interpersonal skills and multi-cultural awareness and sensitivity.
Ability to collaborate and work dynamically across country, region, business and group stakeholders.
Sound judgement on business practices, regulatory relationship management and reputational risk.
Personal authority with proven ability to establish relationships and provide strong direction at the most senior levels of the Group and with regulators and other external stakeholders.
Strong problem solving / presentation / collaboration / agile mindset
Emotional Intelligence, Empathy, Collaboration and Stakeholder Management

Role Specific Technical Competencies

Compliance and Financial Crime Compliance Policies and Standards
Compliance Review and FCC Assurance
Surveillance (including Screening and Monitoring)
Investigations
Compliance Risk Assessment
Regulatory Liaison
Manage Change
Manage Projects

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.

Together we:

Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
Flexible working options based around home and office locations, with flexible working patterns.
Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.

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