Associate Director, CFCC (Conduct, Financial Crime Compliance)- Saudi Arabia

Job Description

Job Summary

• Assist Chief Compliance for effective identification, dissemination, impaction and tracking of regulatory changes (news/ amendments).
• Process Owner for Managing & Implementing Regulatory Change.
• To help business with implementation of Group CFCC Policies & Standards.
• Assist Chief Compliance Officer to discharge second line responsibilities as defined in the ERMF with oversight on CFCC processes.
• Drive regulatory agenda and relationship to ensure compliance with laws, rules and regulations.
• Management of Conduct Risk with second line responsibilities and oversight on Country Conduct Plan -
• Advise business on CDD and other regulatory requirements. Ensure engagement and collaboration with Country & Cluster stakeholders, across three lines of defence.
• Perform regulatory mandated second line assurance review activities and reporting / tracking of observations.
• Implementation of Issue Point and ensure adherence with Group Breach Escalation Standards
  
  

Key Responsibilities

• Responsible for governance of the Conduct, Financial Crime & Compliance risks.
• Engagement and communication with regulator for reporting, managing open and transparent relationship.
• Closely work with country’s business and functions with an aim to implement CFCC policies & standards and advise business on regulatory interpretation.
• Engagement with Country & Cluster stakeholders, to help driving regulatory agenda.
• Communication of key changes in Group CFCC Policies, Standards and local requirements to ensure business is aware of regulatory obligations.
• Co-ordinate/support the management of internal audit/ regulatory inspections/ external reviews.
  
  

Strategy

• Proactively develop regulatory relationships through a structured engagement programme with consistent adherence to regulatory expectations.
• Help ensure that Standard Chartered Bank's operations in the Saudi Arabia are in line with regulatory expectations and Group requirements.
• Support the Chief Compliance Officer to set and implement the vision, strategy, direction and leadership for the Saudi Arabia, consistent with the vision and strategy for CFCC and in support of the Group'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 & Ethics.
  
  

Business

• Ensure that changes (to laws, rules, regulations) are communicated and cascaded (to country & cluster) and tracked for implementation, through Country Governance Committee.
• Keep track of and provide advice to relevant stakeholders on the interpretation and application of regulatory expectations, regulations, laws, best practices and policies related to CFCC In conjunction with the relevant stakeholders, analyse the impact of regulatory compliance matters on the
• bank and its operations.
• Anticipate, assess and communicate key regulatory risk trends in Country for management consideration and drive the development and implementation of appropriate mitigation control measures.
• Use general knowledge of business products undertaken in the jurisdiction to work with business compliance specialists to respond to regulatory questions, where required.
  
  

Processes

• Develop, keep up to date and recommend for approval by the relevant Risk Committee, appropriate policies/ processes/ DOls to address CFCC, aligning with relevant regulatory requirements.
• Work with Chief Compliance Officer to manage and develop the regulatory relationship in accordance with the Regulatory Relationship Plan.
• Build trust through meeting regulatory commitments and having regular briefings/engagement with regulators.
• Help ensure the Bank is properly prepared for regulatory inspections and coordinating responses with the business.
• Providing governance and oversight over the implementation of CFCC related policies and procedures in Country to ensure compliance with such policies and procedures.
• Provide advice to relevant business & functions stakeholders on compliance with Group standards & regulatory matters relating to CFCC.
• Proactively monitor regulatory developments to manage the regulatory impact of complex regulatory matters on the Bank's business and its operations.
• Provide guidance on the proper application and interpretation of banking laws, regulations and policies, applicable in Country.
• Set control standards and provide advice on the development of appropriate controls for the mitigation of regulatory risks.
• Assist in overseeing relevant administration and licensing and required by the in-Country regulatory requirements.
• Track significant issues arising from CFCC metrics, Assurance activities, Audit reviews and regulatory inspections, providing validation of issue closure where necessary.
• Prepare and cascade lessons learned from audit findings, assurance activities and specific investigations. Support all control checks undertaken by CFCC under the Operational Risk Framework (ORF).
• Implement quality assurance standards and workflows for the CFCC processes.
• Co-ordinate/support the management of audits/exams.
  
  

People & Talent

• Promote a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm.
• Support the provision of ongoing training and development of people.
• Work in collaboration with risk and control partners.
  
  

Risk Management

• Maintain oversight of risk mitigating action plans.
• Provide advice on the application of risk management frameworks.
• Apply local regulatory requirements, Group CFCC policies and processes 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.
• Conduct country risk assessment. Map risks, quantify the potential impact and escalate where necessary. Support delivery of annual Global Compliance, AML/ CTF, ABC and Sanctions Risk Assessments.
  
  

Governance

• Attend relevant governance committee meetings, and industry forums, as applicable.
• Be accountable for identification and escalation of potential risks and issues to senior management through appropriate governance channels and the Quality Assurance framework.
• Collate, analyse and interpret data in reports to senior management and relevant governance/risk committees.
• Proactively drive the development and maintenance of good relationships with internal and external stakeholders at appropriate levels ensuring an open and cooperative environment.
  
  

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.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
  
  

Key stakeholders

• Country & Cluster CFCC teams
• Relevant Country/Group process owners for CFCC processes
• Country and Cluster CFCC Management Team
• Country Business Segments/ Product, Operational Risk, Audit, Operations, Finance, IT, ICS etc.
• Saudi Central Bank (SAMA), NAZAHA, SDAIA
  
  

Other Responsibilities

• Embed Here for good and Group’s brand and values in Saudi CFCC; Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
  
  

Skills and Experience

• Manage Conduct
• Manage Risk & Governance
• SAMA Rules & Regulations
• CFCC Policies and Standards
• CFCC Advisory
• CFCC Review / Assurance
• Compliance / Group Risk Assessment
• Regulatory Liaison & Engagement
• Stakeholders’ management
  
  

Qualifications

• EDUCATION - Graduate (16 years of Education)
• TRAINING - AML CTF, SANCTIONS, ABC, Compliance
• CERTIFICATIONS - Preference to ASAMS/Compliance
• LANGUAGES - Arabic, English
  
  

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.
  
  

Profile Description

Standard Chartered Bank