As part of the 2015 Financial Crime Risk Mitigation Program (FCRMP), the Financial Crime Compliance (FCC) team in ASA (ASEAN & South Asia) is increasing its presence to help the Bank identify and mitigate inherent and emerging financial crime risks.
Based in Singapore, the candidate will report and work closely with the Head of FCIIU, ASA, this role will play an important part in identifying trends and issues to assist the Bank in mitigating risks. The candidate will be required to source information, provide credible risk assessments, performing deep dive investigations across the region. They should be comfortable actively managing multiple investigations with multiple stakeholders across the region as well as globally. In addition, the candidate will actively participate in special projects involving client, industry and trend reviews.
Key Roles and Responsibilities
Strategy * Set and implement the vision, strategy, direction and leadership for the ASA FCIIU, consistent with the vision and strategy for FCC and in support of the Group's strategic direction and growth aspirations. * Develop proactive independant projects for both Regional and potentially Global teams to help identify and quantify potential AML/Terrorist Financing risks to the Bank.
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. * Providing governance and oversight over the implementation of FCC-related policies and procedures in ASA FCIIU to ensure compliance with such policies and procedures. * Provide advice to relevant stakeholders on compliance with Group standards relating to AML and Terrorist financing risk. * Manage and/or resolve both global and local requests and make recomendations based on independant research.
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 ASA FCIIU 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 ASA FCIIU have clearly articulated and well understood roles and responsibilities through meaningful and accurate job descriptions.
Risk Management * Ensure the suitability and quality of case data maintained on enterprise case management systems. * Understand technical aspects of systems relevant to CDD, Client Risk Assessments, Name and Transaction Screening, AML Monitoring and Case Management. * Ensure that detection scenarios that are developed and deployed are fit-for-purpose. * 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. * Analyse significant financial crime risk events (e.g. SAR's, non-compliant transactions, production orders) to ensure that all connected parties, particularly cross-border are identified and reported at the appropriate levels internally as well as externally across all relevant jurisdictions. * Identify intelligence for typology studies and risk mitigation plans. * Identify financial crime risk indicators through various internal/external sources that impact SCB and its clients. * Advise relevant stakeholders on outcomes of AML/Terrorist Financing risks identification and assessment methodologies. * Deliver/ support delivery of delivery of annual Global AML, ABC and Sanctions Risk Assessments. * Partner with legal counsels for advice on technical matters. * Ensure that significant investigations are concluded internally and externally where relevant (including cross-border). * Collate, assess risk and manage high risk production orders/subpoenas/warrants. * Provide investigative expertise to support management of Significant Regulatory/Legal cases. * Manage end-to-end financial crime client reviews initiated by external sources (regulators, agencies, authorities or other external organisation), and internal surveillance. * Conduct a root cause analysis on the control/other failures to ensure lessons are learned across the bank. * 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).
Governance * Attend relevant leadership meetings. * Support senior oversight of FCC region/country/function. * 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. * Propose control improvements, enhancements and simplifications where appropriate.
Project/Change Management * Lead or influence significant programmes of work in support of the financial crime compliance objectives. * Develop and design best practices for FCC intelligence team to build consistency across regions.
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 ASA FCC Intelligence Units 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.
Other Responsibilities * Commit to investing in the role to help build the Group's brand and values in ASA, FCC Intelligence * Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures. * Be open and willing to adapt to change and manage multiple functions simultaneously
Qualifications and Skills
Graduate / basic qualifications in banking/ finance/ audit/ systems